H2Tech Market Data 2024 - 4

and more than 40 methanol-powered ships were ordered
in H1 2023, according to the shipping services firm Clarksons.
These fuels can be produced via green H2
routes
to produce marine shipping fuels (i.e., green ammonia/
methanol). If heavily adopted by the shipping industry,
IRENA forecasts that approximately 50 MMtpy of green
ammonia will need to be supplied to the marine sector
by 2050. However, this route is dependent on several factors,
including price, regulations and industry adoption,
among other items.
The following is a detailed analysis of H2
globally for more than 2 yr. Since the database's inception
in early 2021, active H2
projects have increased more than
5-fold to nearly 1,450 (FIG. 3)-a nearly 457% increase in
project announcements.
Most active projects are in Western Europe, followed
by Asia and the U.S. (FIG. 4). These three regions account
for 81% of active H2
projects globally, with Western Europe
capital
projects, strategies and initiatives being implemented
throughout the world.
Active projects. Gulf Energy Information's Global Energy
Infrastructure (GEI) database has been tracking H2
projects
accounting for nearly 50% alone. In total, these projects
represent a total capital expenditure (CAPEX) of approximately
$2 T. Most projects-more than 70%-are in the
planning/proposed stage. The following is a breakdown of
active H2
projects by status:
* Planning/proposed: 73%
* Feasibility study: 15%
* Front-end engineering design (FEED): 5%
* Under construction: 7%.
13% U.S.
5% Africa
20% Asia-Pacific
3% Canada
688
51
Canada
60
181
U.S.
53
67
Africa
56
Central and
South America
Asia-Pacific
2% Gray
16% Blue
80% Green
FIG. 3. Total active H2
projects by region.
FIG. 5. Market share by H2
type.
Middle East
293
2% Others
Western Europe
Eastern Europe,
Russia, CIS
4% Central and
South America
48% Western Europe
4% Eastern Europe,
Russia, CIS
FIG. 4. Active H2 project market share by region.
3% Middle East
When broken down by production route, 76% are green
H2 projects, followed by blue H2
pathways (FIG. 5).
As detailed in the individual regional reports of this
analysis, hundreds of billions of dollars will be invested
by the end of the decade-many of these projects will
also contain an element of CCS or CCUS technologies to
help limit emissions-to significantly boost wind and solar
power generation capacity to fuel the massive amount
of electrolyzers that will be put into operation over the
same timeframe. The electrolyzer market has increased
substantially over the past 2 yr. According to the IEA, total
4
MARKET DATA 2024
H2-Tech.com
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H2Tech Market Data 2024

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