The global hydrogen generation market size was valued at USD 129.85 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030.
The global green hydrogen market size was valued at USD 0.3 Billion in 2020 and is projected to reach USD 9.8 Billion by 2028, growing at a CAGR of 54.7% from 2021 to 2028. The global blue hydrogen market size reached USD 1.02 Billion in 2021 and is expected to register a significantly steady revenue.
Proposed legislation by the European Commission laying out rules for green hydrogen generation may stop some planned projects in their tracks, while more capacity than expected will come online in regions with a high share of renewables, market insiders said. The draft rules state that for hydrogen to be considered green, it will need to be powered by new wind and solar farms.
But is hydrogen really a key to a carbon neutrality? Will green hydrogen win over blue hydrogen? In the light of the committment to accelerate the development of both blue hydrogen and green hydrogen, what are pros and cons of blue hydrogen and green hydrogen? With faces turning to hydrogen these days, what conditions and actions are needed for coping among others with storage challenge?
