Guidehouse Insights Estimates Global Market for Hydrogen Transport and Delivery Technology Will Grow at a Compound Annual Growth Rate of 20% Through 2031
Market drivers include hydrogen's decarbonization potential, increasing demand for green hydrogen, and the international hydrogen trade
BOULDER, Colo., July 14, 2022 /PRNewswire/ -- A new report from Guidehouse Insights explores the market potential for hydrogen transport and delivery technologies. It covers the mediums for transporting hydrogen, including via pipeline, via ship, and via road.
With the estimated global demand for all forms of hydrogen expected to increase two-fold by 2030 and approximately five-fold by 2050 over 2020 demand, the infrastructure for its generation, transport, distribution, and storage must also scale. Integral to this growth is low-cost production of low carbon hydrogen, which requires inexpensive renewable energy resources or access to carbon capture and storage infrastructure. According to a new report from Guidehouse Insights, the global market for hydrogen transportation development is expected to grow at a compound annual growth rate (CAGR) of 19.8%, from an estimated 4.5 Mt H2 in 2022 to 22.8 Mt H2 by 2031.
"A hydrogen transportation infrastructure is required to ensure that hydrogen produced in one region can be delivered to a demand site in another, and is imperative for facilitating global trade," says Shantanu Chakraborty, senior research analyst with Guidehouse Insights. "The decision whether to opt for pipelines or ships, or both, will be contingent upon the distance between the two countries participating in the trade, and the amount of hydrogen to be transported."
Governing the selection of the hydrogen transport medium are factors such as the quantity of hydrogen to be supplied, the presence of an existing infrastructure, and the cost-effectiveness of the transportation technology. The need to expand the hydrogen transportation infrastructure is buttressed by hydrogen's decarbonization potential, the increasing demand for green hydrogen, the possibility of reusing existing infrastructure or networks, and the growth in international hydrogen trade, according to the report.
The report, Hydrogen Transport and Delivery, analyzes the market potential for hydrogen transport and delivery technologies. It describes the status of the emerging hydrogen economy and the potential growth of its infrastructure. The report covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa and includes a 10-year outlook through 2031. It also provides insights on market drivers and barriers and technology trends in the hydrogen transport and delivery technologies market. An executive summary of the report is available for free download on 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 insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 13,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Hydrogen Transport and Delivery, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
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