Dublin, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The "Top 10 Growth Opportunities in Hydrogen, 2024" report has been added to ResearchAndMarkets.com's offering.
After five years of buzz and excitement, 2023 has become somewhat of a reality check for the hydrogen industry. The volume of final investment decisions (FIDs) for projects has been low as financing costs and associated project scrutiny have increased.
The results from utilizing hydrogen in some sectors have proved disappointing, with projected costs making them unfeasible. Technology OEMs have struggled to provide clear evidence that they still reduce costs. Progress in clarifying key regulations and incentives has been slow.
However, none of this changes the fact that hydrogen will play a crucial role in the energy transition. In 2024, the industry should achieve more regulatory certainty to enable more FIDs. Increased scrutiny will likely mean stronger business cases for projects put forward. Reducing attention to sectors where a better decarbonization alternative exists will enable focusing on those sectors where hydrogen is the best fit. Challenges will remain for market participants, but the strong will be able to prosper and thrive.
Crucially, although there is significant geopolitical competition within the hydrogen sector, there is broad global agreement amongst the major powers that progress needs to be made as part of efforts to tackle climate change. China and the United States have committed to reducing greenhouse gas emissions across their economies - hydrogen from low-carbon energy sources is a key element in achieving that.
Top Growth Opportunities for 2024
- Strategic Imperatives
- Top 10 Growth Opportunities
- Growth Opportunity 1: Electrolyzer Buildout
- Growth Opportunity 2: Water Treatment Systems
- Growth Opportunity 3: Carbon Capture for Blue Hydrogen
- Growth Opportunity 4: Nuclear Hydrogen
- Growth Opportunity 5: Hydrogen Hubs
- Growth Opportunity 6: Transportation and Distribution
- Growth Opportunity 7: Hydrogen Storage
- Growth Opportunity 8: Digital Hydrogen
- Growth Opportunity 9: Advanced Material Supply
- Growth Opportunity 10: Synthetic Fuels
For more information about this report visit https://www.researchandmarkets.com/r/5t6qr9
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