All values are in ktpa (kilo tons per year)
The hydrogen economy is a key growth area, and many companies are joining in to capitalize on this future vision and become market leaders throughout the whole hydrogen value chain. Hydrogen, specifically green hydrogen, has been a topic of interest for the renewable energy economy for a very long time. Thanks to its vital applications across industries, it is becoming a game-changer with its noteworthy contribution to clean energy transitions.
Thanks to high investments from companies to develop green hydrogen projects, the momentum that has been built along the entire value chain is accelerating the cost reduction in hydrogen production, transmission, distribution, retail, and end-applications.
Many prominent companies have opted for investing in prospective green hydrogen projects and other aspects of the hydrogen economy, such as fuel cells and refueling stations, to decarbonize their business portfolios. Last year partnerships and deals between companies across different sectors were almost two-fold compared to 2021 levels, enabling companies to participate in multiple projects, going from pilot to large-scale projects.
Betting on green hydrogen development at this point is positioning companies as leaders in the hydrogen market and could bring more opportunities in the future when the market reaches a more mature stage. The coming few years will be crucial for the development of a low-carbon hydrogen economy, for attaining energy transition, meeting decarbonization goals, and positioning leading companies as market experts.
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