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Bloomberg New Energy Finance (BNEF) said in a new report that the global clean hydrogen market will double in 2021, driven by net emissions/carbon neutrality targets in
Europe and China.
The report shows that due to China's phenomenal growth in the first half of 2021, the electrolyzer market will double this year and reach at least 1.
8 GW
in 2022.
As Asian countries' efforts align with the government's carbon neutrality strategy and compete to produce hydrogen, China is expected to account for 60%-63%
of the world's installed electrolyzer capacity.
BNEF added that by 2030, global installations are expected to exceed 40 GW
, based on information disclosed by developers.
Martin Tengler, chief hydrogen analyst at BloombergNEF, said: "Almost everything has doubled in the clean hydrogen space this year, and we expect this momentum to continue in the coming months
.
”
At present, more and more countries have published or are developing hydrogen strategies, as well as more than 90 projects
planned in the global hydrogen field.
In line with national targets, various governments are expected to increase subsidies for hydrogen, which will result in about $11.
4 billion per year available for low-carbon hydrogen production
during the period 2021-2030.
However, BNEF warns that in the absence of strong policies to stimulate and sustain consumer demand, large-scale demand for clean hydrogen, while developing, cannot keep pace with electrolyzer manufacturers' capacity expansion plans
.
Bloomberg New Energy Finance expects 16 GW of electrolyzer manufacturing capacity to come online
by 2024.
Bloomberg New Energy Finance (BNEF) said in a new report that the global clean hydrogen market will double in 2021, driven by net emissions/carbon neutrality targets in
Europe and China.
The report shows that due to China's phenomenal growth in the first half of 2021, the electrolyzer market will double this year and reach at least 1.
8 GW
in 2022.
As Asian countries' efforts align with the government's carbon neutrality strategy and compete to produce hydrogen, China is expected to account for 60%-63%
of the world's installed electrolyzer capacity.
BNEF added that by 2030, global installations are expected to exceed 40 GW
, based on information disclosed by developers.
Martin Tengler, chief hydrogen analyst at BloombergNEF, said: "Almost everything has doubled in the clean hydrogen space this year, and we expect this momentum to continue in the coming months
.
”
At present, more and more countries have published or are developing hydrogen strategies, as well as more than 90 projects
planned in the global hydrogen field.
In line with national targets, various governments are expected to increase subsidies for hydrogen, which will result in about $11.
4 billion per year available for low-carbon hydrogen production
during the period 2021-2030.
However, BNEF warns that in the absence of strong policies to stimulate and sustain consumer demand, large-scale demand for clean hydrogen, while developing, cannot keep pace with electrolyzer manufacturers' capacity expansion plans
.
Bloomberg New Energy Finance expects 16 GW of electrolyzer manufacturing capacity to come online
by 2024.
