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Roland Berger, a management consulting firm located in Germany, has published research titled 'The Roaring '30s - A Clean Hydrogen Acceleration Story' which forecasts a rise in worldwide hydrogen production to 110 million metric tonnes (Mt) per year by 2040, and perhaps 240 Mt by 2040. According to the report, worldwide hydrogen production would increase by 2% per year until 2030, with green hydrogen accounting for about 12% of total volume by 2030, produced in a climate-neutral manner utilising renewable sources.
"At the moment, the expansion of electrolysis capacities is insufficient to meet the Paris climate targets." "We will need to add as much capacity every year in the 2030s as we did in the previous decade," says Yvonne Ruf, Partner at Roland Berger. "The remaining years of this decade are critical for establishing the structural conditions for the next decade to be a period of acceleration." Because, if hydrogen does not establish itself as a viable decarbonisation alternative, the argument may move to the migration of energy-intensive businesses to nations with reduced production costs due to low-cost renewable energy, financial incentives, or superior regulatory frameworks."
Based on past development rates, Roland Berger predicts yearly output volume will likely climb to 240 Mt of hydrogen by 2040. This would imply a requirement for 1 TW of installed electrolysis capacity. In 2040, demand will grow increasingly diverse. Aside from the manufacturing business, which will use almost half (48%) of the hydrogen generated, the transportation and energy sectors will play a significant role in demand, accounting for 30% and 15%, respectively.
"We estimate that 119 gigatonnes (GW) will be added to hydrogen electrolysis plants by 2030," stated Uwe Weichenhain, Partner at Roland Berger. This is less than half of the 260 GW pledged by governments worldwide, and only about a fifth of the 590 GW required to meet the 1.5-degree objective. As a result, the 2030s will be a pivotal decade for the hydrogen sector. We will see a significant increase in decarbonisation and hydrogen generation."
The study's most crucial success element for the hydrogen approach is an appealing economic framework that makes clean hydrogen affordable.
Read the full report here- https://content.rolandberger.com/hubfs/07_presse/23_2168_STU_The_Roaring_30s-05.pdf
