BAKU, Azerbaijan, June 30
By Leman Zeynalova – Trend:
The backbone of existing natural gas infrastructure facilities gives hydrogen production via steam methane and or autothermal reforming (combined reforming) and pyrolysis a head start while hydrogen and other gas volumes can be blended with existing flows, Christof van Agt, Director of Energy Dialogue, International Energy Forum told Trend.
“Optimizing available systems and investing in new dedicated infrastructure and facilities that the hydrogen economy will need to meet climate neutral growth by mid-century is already well underway in North-Western Europe, North Africa, and the Middle East. This provides examples of new business models and industry hubs for other regions to build on,” he said.
The hydrogen compressor market was valued at $1,894.15 million in 2020 and is projected to reach $2,813.27 million by 2028; it is expected to grow at a Compound annual growth rate of 5.07 percent during 2020-2028, Trend reports with reference to the outlook titled ‘Hydrogen Compressors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Stage, and End-User’.
Due to the mounting urbanization and industrial growth, the energy consumption has risen manifolds. Thus, to meet the soaring demand for power, the development of sub-transmission and intrastate transmission networks is expanding, reads the report.
“The escalating demand for energy & power, owing to rising household incomes and increasing manufacturing and heavy industries, is boosting the deployment of hydrogen compressors. Renewable energy plays a significant role for offering access to electricity.”
---
Follow the author on Twitter: @Lyaman_Zeyn