Research firm forecasts global blue hydrogen market to reach $40.7bn by 2030

In Massachusetts, SkyQuest projected that the blue hydrogen market will reach a value of $40.74 billion by 2030, with a CAGR of 12.2% over the forecasted period (2022-2030). According to the research firm, the increasing demand for low-carbon hydrogen as nations attempt to transition to a low-carbon economy is likely to generate significant growth in the global blue hydrogen market in the upcoming years. According to the report, North America is predicted to dominate the blue hydrogen market due to the rising demand for low-carbon energy in the region. “Asia Pacific region is anticipated to be fastest growth in the blue hydrogen market. This can be attributable to both the region’s rising energy needs and government efforts to encourage the use of sustainable energy sources. Due to its enormous investments in the construction of hydrogen infrastructure and the government’s aim to reaching carbon neutrality by 2060, China in particular was anticipated to play a key role in the global blue hydrogen market.” “It was anticipated that other countries in the Asia-Pacific area such Japan and South Korea, would help the blue hydrogen industry expand,” the research firm added.

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