Hydrogen Insights 2023 is the latest update from the Global Hydrogen Council and McKinsey on the global hydrogen economy.The report summarizes the current situation of the global hydrogen energy industry and the actual deployment of hydrogen energy projects, and provides an in-depth study of the industry.
It represents a collaborative effort to share an objective, comprehensive, and quantitative view of the state of the global hydrogen ecosystem.
Hydrogen power continues to accelerate, with more than 1,000 projects announced worldwide, requiring $320 billion;However, investment decisions lag behind, with only 10% of the investment amount passing the FID (final investment Decision).
Of the more than 1040 projects announced globally, 795 are scheduled to be operational by 2030.
Total project investment announced by 2030 is $320 billion, up from $240 billion previously announced;Of this, $29 billion has gone through FID.About half of the projects focus on large-scale industrial applications, and the next largest segment (20%) is related to mobile applications.In terms of mobility, there are currently more than 1,000 hydrogen refueling stations operating worldwide.The total announced electrolyzer capacity by 2030 is 230GW.
Hydrogen supply projects account for about two-thirds of the announced investments by 2030, with a total of 38 million tonnes of clean hydrogen production announced annually by 2030, with Europe and North America together accounting for nearly 60% of the total.The hydrogen project pipeline is growing at all stages of maturity, with announcements/plans/advanced plans/commitments growing at 30% to 40%, indicating a healthy project pipeline.
Approximately 800,000 tons of new clean hydrogen supply is currently coming into operation each year, of which about 740,000 tons/year of low-carbon hydrogen and 600,000 tons/year of renewable hydrogen (equivalent to 700MW of electrosmelting capacity). Most of the low-carbon hydrogen capacity is located in North America, while China is the largest market for operating renewable hydrogen projects.
A total of 3 million tons of clean hydrogen capacity per year has gone through FID(including 800,000 tons per year of operation), of which North America accounts for 70% of the committed capacity (most of which is low-carbon hydrogen), and over 9GW of electrolyzing capacity has gone through FID, almost double the 5GW previously released, with China accounting for 40% of the committed capacity (as of May 2023).