H2Tech Market Data 2023 - 3

H2
MARKET
INSIGHT
The need for building a low-carbon H2
economy.
Hydrogen (H2) and its potential as a fuel, an industrial feedstock
and as a chemical intermediate for various industrial
processes are not new. However, the past few years have
witnessed an accelerated interest in the development of H2
as a critical element, enabling the global energy transition
to a sustainable and decarbonized economy and achieving
global climate goals.
H2
is a versatile energy carrier with an energy density
of 120 MJ/kg, nearly three times that of gasoline
(45.8 MJ/kg). At the time of this publication, global H2
demand was more than 90 MMtpy, with nearly 70 MMtpy
used as pure H2
and the remainder destined as a chemical
feedstock, primarily in methanol production and steel
manufacturing. Today, the majority of traded H2
fuel-derived gray H2
carbon dioxide (CO2
is fossil
, which results in nearly 900 MMtpy of
) emissions.
H2 is pivotal to reaching net-zero emissions goals due
to its estimated potential to abate 80 GT of cumulative
CO2
emissions by 2050. Therefore, it can be argued that no
path exists to a net-zero emissions economy without H2
.
This is particularly applicable in hard-to-electrify and hardto-abate
sectors such as transportation (long-haul), steel,
chemicals, marine and aviation.
Therefore, H2
and/or zero-carbon (i.e., green H2
ysis using renewable energy. While some countries are
studying green H2
to achieve carbon neutrality or climate
change goals, others are looking to exploit their renewable
energy potential to develop energy security and/or self-remust
be low-carbon from the outset
) produced by electrol

H2Tech Market Data 2023

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Contents
H2Tech Market Data 2023 - Cover1
H2Tech Market Data 2023 - 2
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https://www.nxtbook.com/gulfenergyinfo/gulfpub/h2tech-market-data-2024
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q4_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_marketdata_2023
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q3_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_electrolyzerhandbook_2022_v2
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q2_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_electrolyzerhandbook_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q1_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q4_2021
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q3_2021
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q2_2021
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q1_2021
https://www.nxtbookmedia.com