The report titled “Turning hydrogen demand into reality: Which sectors come first?” focuses on the potential of clean hydrogen to function as an energy carrier and feedstock to decarbonise multiple sectors, especially hard to abate sectors. The report identifies that to meet future hydrogen demand, the scale of renewable electricity demand for green hydrogen production is unprecedented and leads to once-in-a-generation opportunities and challenges.
The report by the International Chamber of Shipping has been written by the Professor of Energy Economics at Biberach University of Applied Sciences, Germany, and produced in collaboration with Professor Stefan Ulreich, Professor of Energy Economics at Biberach University of Applied Sciences. It seeks to better assess the future supply and demand dynamics of the new zero emission fuels that industrial sectors, including shipping, will use in the coming decades.
- It identifies that heavy industry sector is expected to dominate global hydrogen demand to 2050, with South Korea, Japan and Europe being the first markets for hydrogen.
- However, analysis of current hydrogen demand scenarios shows tremendous volatility, increasing uncertainty for businesses and investors.
- It highlights that to meet just 30 million tonnes of annual global green hydrogen demand, the world would require up to 411 new hydrogen vessels and the equivalent of the yearly electricity production of South and Central America combined.
Access the report here
