Guidehouse Insights estimates that the global hydrogen transport and distribution technology market will grow at a compound annual growth rate of 20% through 2031
Market drivers include hydrogen decarbonization potential, growing demand for green hydrogen, and international hydrogen trade
BOULDER, Col., July 14, 2022 /PRNewswire/ — A new report from Guidehouse Insights explores the market potential of hydrogen transport and delivery technologies. It covers means of transporting hydrogen, including by pipeline, ship and road.
With estimated global demand for all forms of hydrogen expected to double by 2030 and approximately quintuple by 2050 compared to 2020 demand, generation, transmission, distribution and storage infrastructure must also evolve. Low-cost production of low-carbon hydrogen, which requires inexpensive renewable energy resources or access to carbon capture and storage infrastructure, is an integral part of this growth. According to a new report from Guidehouse Insights, the global hydrogen transport development market is expected to grow at a compound annual growth rate (CAGR) of 19.8%, from approximately 4.5 Mt H2 in 2022 to 22 .8 Mt H2 by 2031.
“Hydrogen transport infrastructure is necessary to ensure that hydrogen produced in one region can be delivered to a site of demand in another, and is imperative to facilitating global trade,” said Shantanu Chakraborti, senior research analyst at Guidehouse Insights. “The decision to go for pipelines or ships, or both, will depend on the distance between the two countries participating in the trade and the amount of hydrogen to be transported.”
The choice of hydrogen transport medium is governed by factors such as the amount of hydrogen to be supplied, the presence of existing infrastructure and the economics of the transport technology. According to the report, the need for expanding hydrogen transport infrastructure is reinforced by the decarbonization potential of hydrogen, the growing demand for green hydrogen, the possibility of reusing existing infrastructure or networks and the growing international hydrogen trade.
The report, Transport and delivery of hydrogen, analyzes the market potential of hydrogen transport and delivery technologies. It describes the state of the emerging hydrogen economy and the potential growth of its infrastructure. The report covers North America, Europe, Asia Pacific, Latin Americaand the Middle East & Africa and includes a 10 year outlook to 2031. It also provides insights into market drivers and barriers and technology trends in the hydrogen transportation and delivery technology market. An executive summary of the report is available for free download from the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data and benchmarking services for today’s rapidly changing and highly regulated industries. Our knowledge is based on an in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, primary end-user research, and demand assessment, coupled with an in-depth review of technology trends, to provide a comprehensive view emerging resilient infrastructure systems. Additional information about Guidehouse Insights is available at www.guidehouseinsights.com.
Guidehouse is a leading global provider of advisory services to the public sector and commercial markets, with extensive risk management, technology and advisory capabilities. By combining our public and private sector expertise, we help our clients address their most complex challenges and overcome significant regulatory pressures focused on transformational change, business resilience and technology-driven innovation. Through a range of consulting, advisory, outsourcing and digital services, we create scalable and innovative solutions that help our clients navigate complexity and position them for future growth and success. The company has more than 13,000 professionals in more than 50 locations worldwide. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda issues that drive national and global economies. For more information, visit www.guidehouse.com.
* The information contained in this press release regarding the report, Transport and delivery of hydrogen, is a summary and reflects current expectations of Guidehouse Insights based on market data and trend analysis. Forecasts and market expectations are inherently uncertain and actual results may differ materially from those contained in this press release or report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s findings and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes to update the information contained in this press release or the report.
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