In California, Meticulous Research reported that the global blue hydrogen market is projected to soar to $29.4 billion by 2030, reflecting a compound annual growth rate (CAGR) of 13.8% over the forecast period. “The burgeoning demand for blue hydrogen is closely tied to the increasing emphasis on reducing carbon emissions, particularly within the chemical production sector. Governments and industries worldwide are actively pursuing strategies to decarbonize their operations, and blue hydrogen-produced from natural gas with carbon capture and storage (CCS) technologies-presents a viable solution to reduce greenhouse gas emissions while utilizing existing fossil fuel resources,” the report stated. The report also noted that the Asia-Pacific region is expected to lead the market in 2024, accounting for the largest share. The region’s dominance is driven by the increasing adoption of clean energy solutions in power generation and transportation sectors, particularly in countries like China, Japan, and South Korea, it added. “In Europe, the blue hydrogen market is also expected to see substantial growth, supported by the European Union’s (EU) Green Deal and the bloc’s commitment to achieving climate neutrality by 2050,” the report stated.
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