A report from the International Chamber of Shipping – ICS goes on to reveal that heavy industry is indeed going to be the main driver in terms of global hydrogen demand by 2050. The document, which happens to be inked by Biberach University of Applied Sciences’ professor Stefan Ulreich, points out the fact that the economies of the EU, South Korea, as well as Japan happen to be in the frontline so as to drive this kind of progress.
In Europe, these ambitions have been translated into an aim of 20 million tonnes of hydrogen every year by the end of this decade with a major dependence on imports in order to take care of at least 50% of this need. This forecast goes on to underline the strategic significance of hydrogen when it comes to the industrial processes and also the barriers that are associated with transport and, of course, supply.
Infra as well as transport capabilities – Prominent hurdles
So as to meet the ever-growing demand, the ICS report goes on to estimate that 411 novel specialized vehicles will be required to make sure that hydrogen is transported throughout long distances. This number can very well rise too if the transport happens to be in the form of ammonia. These needs go on to pose a massive logistical challenge when it comes to the marine sector that will then have to adapt itself pretty quickly to this new reality, which is quite striking.
The production scale that’s needed to supply this sort of demand is also quite significant. In order to produce 30 million tonnes of green hydrogen every year, an equal amount of combined annual electricity production of Central and South America will be needed. This kind of requirement for renewable energy means that one has to think about the infrastructures related to energy that will need to be developed so as to support such kind of an industrial effort.
Investor and Maritime Industry – The Implications
The ICS report goes on to highlight the unpredictability that surrounds the future hydrogen demand, which could, by the way, put brakes on the investments coming in. The volatility when it comes to present projections happens to create quite a complex environment for organizations as well as investors, who must surely look out for opportunities and also the risks. In order to attain the levels of carbon neutrality by 2050, the consumption of global hydrogen will have to see a surge of a minimum fivefold.
This kind of fast growth will indeed need very careful planning as well as strategic investment when it comes to infrastructure, especially in the marine transport gamut, which is going to indeed play a very critical role in the distribution of hydrogen across the world.