According to a study by Information Trends, global hydrogen production is expected to quadruple in the next 15 years, with most of the growth coming from green hydrogen. The study, entitled “Global Market for Hydrogen Production,” states that roughly 100 Mtpa of hydrogen was produced globally in 2022, and that the majority of current production is grey hydrogen.
However, the report's author, Tazeen Fatima, notes that as prices for green hydrogen continue to decrease, it will surpass grey and blue hydrogen, which are produced from fossil fuels, in terms of cost-competitiveness.
According to Tazeen Fatima, the increase in hydrogen production is primarily driven by the growth in renewable energy sources, specifically solar power. Green hydrogen is produced through electrolysis, which is also becoming increasingly more affordable.
Currently, the major uses of hydrogen are in oil refining, steelmaking, and ammonia production. However, in the coming years, there will be a significant rise in the use of hydrogen fuel cells for transportation and stationary power generation in homes, buildings, and factories.
