Currently, more than 98% of global hydrogen is based on fossil fuels, which is an incentive for the industry to pioneer low-carbon production technologies, with a focus on blue hydrogen – reforming natural gas by capturing carbon dioxide – or green hydrogen, a process that uses Water electrolysis using renewable energy.
“Renewable energy, electricity and battery storage are the key solutions,” explained Chengis Idrisov, technology analyst at IDTechEx. “Hydrogen offers a promising solution to challenging sectors. Its potential as a fuel, energy carrier and chemical raw material has led many governments to formulate national hydrogen strategies. As a result, companies are seizing market opportunities, providing a range of services, products and technologies. The booming hydrogen market is attracting the attention of interest worldwide.”
Idrisov advocates that a cohesive value chain is essential to realizing hydrogen's potential, including low-carbon hydrogen production, storage and distribution infrastructure, which is aligned with end-user demand.
