Deloitte Report: Green Hydrogen Market Poised to Reach $1.4 trillion by 2050
Decisive climate action can help make green hydrogen competitive in less than 10 years, could support around 2 million jobs globally per year between 2030 and 2050
NEW YORK, NY, USA, 13 June 2023— As support for clean hydrogen as a reliable, sustainable energy source strengthens, the market is expected to top the value of the liquid natural gas trade by 2030 and grow further to US$1.4 trillion per year by 2050.Green hydrogen—produced by splitting hydrogen atoms from water molecules using electrical currents powered by renewable energy—is poised to help drive the bulk of the growth according to Deloitte’s new report “Green hydrogen: Energizing the path to net zero. Deloitte’s 2023 global green hydrogen outlook,” released today by the Deloitte Center for Sustainable Progress (DCSP). Global leaders can seize the opportunity presented by green hydrogen to rapidly decarbonize while investing in sustainable growth.
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