Global Top 10 Hydrogen Trends and Innovation in 2024; Detailed Analysis By Spherical Insights & Consulting
Govind Dhaigude
Digital Marketing | 8+ Years Experience | Market Research | Looking Change
Hydrogen Technology Overview:
Hydrogen , the simplest and most abundant element in the universe, is a versatile resource with multifaceted applications across various industries and technologies. Its significance stems from its unique properties and potential as a clean, sustainable energy source.
One primary application of hydrogen lies in energy production and storage. When used in fuel cells, hydrogen undergoes a reaction with oxygen to produce electricity, emitting only water vapor as a byproduct—making it a clean energy solution. This technology is particularly promising for vehicles, offering an alternative to fossil fuels and contributing to reducing greenhouse gas emissions.
Moreover, hydrogen holds immense potential as an energy storage medium. It can be produced through electrolysis using renewable energy sources like wind or solar power, storing excess energy generated during peak production periods for later use. This capability is pivotal in stabilizing renewable energy systems by addressing intermittency issues and ensuring a continuous power supply.
Additionally, hydrogen plays a significant role in industrial processes. It is used as a feedstock for chemical production in various industries, including refining, ammonia production for fertilizers, and the manufacturing of methanol and steel. In these applications, hydrogen acts as a clean alternative to fossil fuels, contributing to reducing carbon emissions and environmental impact.
However, despite its potential, the widespread adoption of hydrogen faces challenges, including production costs, infrastructure development for storage and distribution, and technological advancements to enhance efficiency and scalability.
Nonetheless, ongoing research, technological advancements, and increasing global focus on sustainable energy sources position hydrogen as a key player in the transition towards a greener, more sustainable future. As innovations continue to address challenges, hydrogen is poised to play a crucial role in decarbonizing energy systems and reducing reliance on fossil fuels.
Hydrogen Market Size and Statistics
1. The Global Hydrogen Market Size was valued at USD 228.4 Billion in 2022.
2. The Market Size is Growing at a CAGR of 7.9% from 2022 to 2032
3. The Worldwide Hydrogen Market Size is Expected to Reach USD 490.7 Billion by 2032
4. North America Is Expected To Grow The Fastest During The Forecast Period
5. According to a research report published by Spherical Insights & Consulting
Global Top 10 Hydrogen Industry Trends In 2024
The journey toward establishing a hydrogen economy has faced hurdles due to technology limitations, infrastructure challenges, and insufficient investments. However, in the past decade, the global drive towards decarbonization, coupled with advancements in existing technologies, has propelled key hydrogen trends forward. Notably, hydrogen fuel cells have emerged as a pivotal solution, particularly in mitigating emissions from heavy-duty vehicles, a significant contributor to greenhouse gas emissions.
Advancements in renewable energy system scalability and cost-effectiveness, alongside progress in electrolyzer technology, have facilitated sustainable hydrogen production. These top 10 trends in the hydrogen economy are aimed at reducing our reliance on fossil fuels and optimizing industrial operations for enhanced efficiency.
Global Top 10 Hydrogen Industry Trends In 2024
1. Hydrogen Fuel Cells
Hydrogen fuel cells offer immediate power generation and play a crucial role in demand response scenarios. This becomes especially relevant as hydrogen serves as a link between fluctuating power generation in renewable energy systems (RES) and a grid exclusively powered by renewables. Fuel cells address demand response challenges by serving as both a power source and reserve energy, even for extended durations.
These versatile fuel cells find application across various sectors, including marine, land, and aviation operations, spanning ships, trains, planes, drones, cars, trucks, and buses. Notably, heavy industrial vehicles take center stage in the hydrogen economy due to their significant impact on greenhouse gas emissions.
Start-up Companies:
H2X designs Hydrogen Fuel Cell Vehicles
Australian startup H2X designs and develops hydrogen fuel cell-powered vehicles. The startup’s vehicles utilize both hydrogen fuel cell and battery-electric technologies, achieving zero-emissions mobility
BWR Innovations develops Portable Hydrogen Fuel Cells
US-based startup BWR Innovations provides portable hydrogen fuel cell solutions. Sol Source SFC110 Fuel Cell Generator is BWR Innovations’ fuel cell-powered sanitization product. It is a portable fuel cell generator and heater that inactivates a variety of biological contaminants, including viruses, bacteria, parasites, and fungi.
2. Renewable Hydrogen
The utilization of renewable energy sources for hydrogen production marks a significant stride in large-scale decarbonization efforts. Through the use of RES, the production of green hydrogen eradicates the carbon emissions associated with conventional methods reliant on fossil fuels. Solar energy, for instance, offers viable pathways for hydrogen generation, employing techniques such as photocatalytic or thermochemical water splitting.
Startups leverage solar concentrators to harness high radiation levels, effectively splitting water into hydrogen and oxygen. Moreover, wind turbines also play a role in green hydrogen production via electrolysis. When coupled with fuel cells or hydrogen carriers, these renewable sources facilitate efficient power demand response. Although currently on a smaller scale, some companies harness hydropower for hydrogen production as well.
Start-up Companies:
HiSeas Energy leverages Offshore Wind Turbine Platforms for Hydrogen Production
US-based startup HiSeas Energy develops offshore wind turbines to power electrolyzers. The HiSeas Free-Floating Offshore Wind Turbine (FFWOT) platform provides a low-cost, low-mass, and stable platform for turbines up to 40 MW.
HY2GEN develops Solar-Powered Hydrogen
German startup HY2GEN utilizes solar energy to produce green hydrogen. The startup’s project, SUNRHYSE, powers a 30 MW electrolysis plant using green electricity via solar panels. In the process, HY2GEN supplies hydrogen for the mobility and maritime sectors.
3. Advanced Electrolysis
Advanced electrolysis technologies are pivotal in enabling the scalability of hydrogen production units. Among these, proton exchange membrane or polymer electrolyte membrane (PEM) electrolyzers have gained prominence due to reduced operating and capital expenditures, finding applications across industrial and residential sectors.
Other prevalent types include solid oxide electrolyzers (SOE) and anion-exchange membrane (AEM) electrolyzers. SOEs operate at low temperatures, eliminating the need for precious metals as catalysts, whereas AEM electrolyzers leverage hydroxide ions for membrane conductivity. The overall efficiency of electrolyzers hinges on factors such as bipolar plates, electrode materials, and catalysts employed in the reaction.
Start-up Companies:
Alchemr designs AEM Electrolyzers
US-based startup Alchemr offers AEM electrolyzers to produce hydrogen. Its AEM technology allows for low electrolyte degradation with the use of thin durable membranes, resulting in optimal hydrogen production.
H2B2 engineers Large-Scale Electrolyzers
Spanish startup H2B2 develops scalable electrolyzers for both residential and industrial use. EL580N is the startup’s large-scale electrolyzer, with the capacity to produce 1 251 kgs of hydrogen per day.
4. X-to-Hydrogen-to-X
The hydrogen economy extends beyond hydrogen itself, encompassing valuable chemical intermediaries with distinct functionalities. E-Fuels, like e-methanol, offer low carbon emissions and stem from hydrogen, seamlessly integrating into internal combustion (IC) engines.
Methanol and methane emerge as additional by-products in the hydrogen production process, effectively cycling hydrogen back into circulation. Notably critical for decarbonization efforts is the conversion of waste into hydrogen. Presently, startups achieve this through gasification, pyrolysis, fermentation, and reforming processes. Waste-to-hydrogen solutions aim to address the waste crisis while producing hydrogen with minimal or zero carbon emissions.
Start-up Companies:
Hydrogravix develops a Parallel Mass Transfer Electric Power Generator
Hydrogravix develops Hydrocycler, a technology that operates in a closed-loop system. This system uses electrolysis to split water into hydrogen and oxygen and then recombines them to generate electricity and produce water.
Ossus Biorenewables utilizes Wastewater for Hydrogen Production
Indian startup Ossus Biorenewables produces biohydrogen from wastewater. The startup’s device, OB HYDRACEL, is a self-powered solution that produces hydrogen from effluents at industrial sites.
5. Hydrogen Carriers
While hydrogen is conventionally transported in liquid or gaseous states, the inherent challenges in handling pure hydrogen have strained storage containers. Hydrogen carriers, comprising hydrides or hydrogen compounds, form through chemical reactions involving metals or chemicals with hydrogen, making them suitable for long-distance transport.
These carriers offer convenient storage solutions, and through ongoing research and development (R&D) efforts, startups aim to enhance purity and improve the separation process for hydrogen recovery. Metal hydrides, such as magnesium hydrides, possess the capability to chemically store hydrogen within their metallic lattice. Investigations and development initiatives also extend to Liquid Organic Hydrogen Carriers (LOHC), chemical hydrides, and nanostructures for hydrogen transportation.
Start-up Companies:
H2SITE facilitates On-Site Hydrogen Production
Spain-based startup H2SITE offers on-site hydrogen production solutions that produce renewable hydrogen for small and medium companies. The startup utilizes feedstocks like ammonia and methanol as hydrogen carriers. Its membrane reactor technology allows industries, power generators, and vehicles to reduce hydrogen.
H2Heat Technology engineers Metal Alloys for Hydrogen Storage
Canadian startup H2Heat provides metallic alloys for the storage of hydrogen. The startup’s system stores hydrogen atoms in a solid-state nanocomposite based on complex metallic alloys using atomic bonds and a micro-heat transfer system.
6. Carbon Capture, Utilization & Storage
Presently, hydrogen production heavily relies on fossil fuels, rendering the produced hydrogen unsustainable. Common methods like steam methane reforming and coal gasification contribute to greenhouse gas emissions, posing environmental challenges. Until more cost- and power-effective alternatives emerge, these methods will remain the primary sources of hydrogen production. To mitigate their environmental impact, the integration of Carbon Capture, Utilization, and Storage (CCUS) or blue hydrogen technologies is crucial.
These technologies are integrated into large-scale hydrogen production facilities to significantly reduce carbon emissions or repurpose them as usable feedstock for other processes. For instance, CCUS facilitates fertilizer production and aids in Enhanced Oil Recovery (EOR). Additionally, generating solid carbon by-products serves as an efficient means of repurposing hydrogen production waste. Furthermore, redirecting gaseous carbon emissions for utilization in various industrial processes ensures zero waste and creates emission loops.
Start-up Companies:
Susteon leverages CCUS to produce Blue Hydroge
US-based startup Susteon provides blue hydrogen using CCUS technologies. The startup develops compact distributed H2 generators to create high-purity pressurized hydrogen while capturing CO2. This technology is based on a catalytic nonthermal plasma that activates methane to produce syngas.
Horisont Energi uses CCUS to synthesize Blue Hydrogen and Blue Ammonia
Norwegian startup Horisont Energi produces blue hydrogen. Arctic Blue Hydrogen is the startup’s product, which helps in delivering blue hydrogen to the hydrogen economy. With their carbon storage solution Polaris, the company utilizes hydrogen to produce blue ammonia for transportation and storage, enabling widespread usage of blue hydrogen
7. Hydrogen Distribution
The transportation and distribution of hydrogen present significant challenges in building the hydrogen economy. Various methods are being considered based on the production and usage locations. Regional distribution sees momentum through the introduction of new pipelines or adapting existing natural gas pipelines. Trains and ships also play a role in transporting hydrogen, whether in liquid or gaseous form, across regions.
For highways, tube trailers and liquid tankers emerge as feasible solutions for hydrogen distribution. The safe handling of hydrogen storage containers is critical due to its flammability and potential to embrittle materials. Additionally, hydrogen refueling stations play a crucial role in establishing hydrogen highways, addressing refueling challenges for hydrogen fuel cell vehicles, particularly in trucks and buses.
Start-up Companies:
Found Energy develops Hydrogen Energy Distribution Systems
US-based startup Found Energy develops technology that uses metallic aluminum to produce hydrogen on demand for energy transport. Its process safely extracts energy through rapid aluminum corrosion when exposed to water.
Hiringa Energy establishes a Hydrogen Refuelling Network
New Zealand-based startup Hiringa Energy accelerates the hydrogen economy by developing a hydrogen refueling network across New Zealand. Focused primarily on the heavy vehicles market, the startup devises a three-phase plan for the construction of the refueling network. The final goal is to provide access to over 100 refueling stations by 2030.
8. Hydrogen Liquefaction & Compression
Developing efficient hydrogen storage containers is pivotal for the expansion of the hydrogen economy. Liquid hydrogen finds practical storage in cryogenic tanks, known as dewars, capable of handling it at an extreme temperature of -253°C without compromising purity or experiencing leaks. These dewars come in various types, categorized from Type I to Type IV, depending on wall materials and their storage capacities.
Alternatively, high-pressure hydrogen gas is stored in compressed gas storage tanks. While hydrogen gas is more manageable than its liquid form due to temperature constraints, it isn't readily deployable in industrial applications. Cryo-compressed hydrogen storage involves high-pressure storage to reduce boil-off when exposed to the atmosphere, rendering it cost-effective and easier to handle.
Start-up Companies:
Beyond Scroll develops Oil-Free Scroll Compressors
Swiss startup Beyond Scroll builds oil-free scroll compressors to make green hydrogen production more efficient and cost-effective. Its technology compresses hydrogen from atmospheric pressure without contamination, reducing system components and maintenance costs.
CYRUS develops Hydrogen Compressors
Greek startup CYRUS designs metal hydride hydrogen compressors (MHC) for transportation applications. The startup’s thermal-powered MHC absorbs hydrogen at low pressure and temperature and then desorbs it at higher pressure by raising the temperature with an external heat source.
9. Combined Heat & Power
The hydrogen economy aims to decarbonize the Combined Heat and Power (CHP) sector, with strategies involving the blending of hydrogen into existing natural gas pipelines for heating industrial and residential areas. Safety standards permit blending up to 10% hydrogen, enabling the safe transportation of this gas through current pipelines. Blended hydrogen is valuable in stationary gas turbines and generators, effectively reducing greenhouse gas emissions during power generation. Additionally, innovative combustion boilers and hybrid heat pumps utilize hydrogen for sustainable heating solutions.
Start-up Companies:
Turbotec designs Hydrogen Gas Turbines
Belgian startup Turbotec develops hydrogen gas turbines for CHP. The startup’s hydrogen-fuelled gas turbine, TURBOTEC HyTG-550, is designed as a marine propulsion and generator unit. The engine offers 550kW of electric power and a CHP unit that provides up to 950kW of thermal power. The turbine is modular and can fit in a 20-foot-high cube shipping container.
Protium Green Solutions develops Hydrogen-Based Industrial Heating Solutions
UK-based startup Protium Green Solutions , a green hydrogen energy services company, implements CHP solutions for hydrogen-based industrial heating. Project HyLADDIE is the startup’s pilot project implementing zero-emission industrial heating. The project will enact the installation and operation of dynamic combustion chambers (DCC) which use hydrogen as fuel.
10. Hydrogen Propulsion
Leveraging hydrogen as a space propulsion fuel holds promise due to its favorable energy-to-density ratio in its liquid state. Propulsion involves directly using hydrogen fuel in liquid oxygen-hydrogen systems to power rockets, airplanes, and jets. Advancements in space technology explore blending hydrogen with other fuels to propel turbines and propellants, aiming for environmentally friendly propulsion. Hybrid-electric systems stand out for their ability to achieve low-emission mobility. Additionally, hydrogen peroxide, derived from hydrogen, undergoes research as an alternative fuel for potential use in space vehicle propulsion.
Start-up Companies:
Turbotech develops Hydrogen-Powered Turbogenerators
take-off and landing (E-VTOL) vehicles. TG-R55 and TG-R90 are the startup’s turbogenerators that produce electric power onboard. When used in conjunction with batteries, they offer up to 10 times more range than full-electric plane systems.
Ursa Major Technologies designs Liquid Hydrogen Propulsion Systems
US-based startup Ursa Major Technologies engineers liquid hydrogen propulsion systems. Samus is the startup’s 50,000 lbf liquid hydrogen engine. It is a fuel-rich staged combustion upper-stage propulsion solution eligible for medium- and heavy-class space-launch applications. The solution produces zero emissions and its architecture is derived from the startup’s previous projects – an oxidizer-rich staged combustion engine and a 35 000 lbf liquid oxygen and kerosene engine.
Related Topics
Global Hydrogen Market Size, Share, and COVID-19 Impact Analysis, By Type (Gray, Blue, Green), By Storage (Physical, Material), By Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Refinery, Ammonia, Methanol)), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032
Global Hydrogen Generation Market Size, Share, and COVID-19 Impact Analysis By Source (Blue hydrogen, Green hydrogen, and Grey Hydrogen), By Technology (Steam Methane Reforming (SMR), Coal Gasification, and Others), By Applications (Oil Refining, Chemical Processing, Iron & Steel Production, and Ammonia Production), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.
Global Hydrogen Peroxide Market Size, Share, and COVID-19 Impact Analysis, By Function (Oxidant, Disinfectant, Bleaching), By Application (Healthcare, Wastewater Treatment), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.
Global Liquid Hydrogen Market Size, Share, and COVID-19 Impact Analysis, By Technology Type (Steam Methane Reforming, Electrolysis), By Distribution Type (Pipelines, Cryogenic Tankers), By End-user Industry (Automotive, Transportation, Chemical & Petrochemicals, Aerospace, Metallurgy, Heavy Industry, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.
Global Green Hydrogen Market Size, Share, and COVID-19 Impact Analysis, By Technology (Alkaline Electrolysis and PEM Electrolysis), By Renewable Source (Wind Energy, Solar Energy, and Others), By End-User (Chemical, Power, Grid Injection, Industrial, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.
Asia Pacific Hydrogen Generation Market Size, Share, and COVID-19 Impact Analysis, By Source (Natural Gas, Coal, Biomass, Water), By Process (Steam Methane Reforming, Coal Gasification, Electrolysis, Others), By Application (Methanol Production, Ammonia Production, Petroleum Refining, Transportation, Power Generation, Others), By Country (China, Japan, India, South Korea, Taiwan, Rest of Asia Pacific), and Asia Pacific Hydrogen Generation Market Insights Forecasts to 2032.
India Hydrogen Market Size, Share, and COVID-19 Impact Analysis, By Type (Gray, Blue, Green), By Storage (Physical, Material), By Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Refinery, Ammonia, Methanol)), and India Hydrogen Market Insights Forecasts to 2032
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Digital Marketing | 8+ Years Experience | Market Research | Looking Change
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