Global hydrogen demand market will rebound by 2022

In 2020, due to the global epidemic, global hydrogen demand has declined, but analysts expect that global hydrogen demand will rebound rapidly due to increased government support and help to expand production capacity.

Zane MacDonald, chief energy transformation analyst of energy information analysis company hydrogen and alternative transportation, said on the 19th at an online seminar held by the nonprofit energy innovation network, “any ambitious climate goal needs a complete set of solutions, and decarbonization of the economic system needs to expand the tools of electrification in the past, which is why hydrogen has become a concern.”

At present, the global demand for hydrogen is dominated by refining and ammonia production industries with natural gas as raw material. According to McDonald’s report, the annual global demand for hydrogen has been steadily rising to 80 million tons in the past decade, and it will not decline until 2020.

Travel restrictions related to novel coronavirus pneumonia in 2020 reduced travel operations and reduced hydrogen demand, while the demand for hydrogen from ammonia production also led to a decline in demand for hydrogen.

However, MacDonald said the global hydrogen demand market is expected to rebound in 2022 and annual demand will resume growth.