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Global Hydrogen Demand

Over the next 5 years, the global hydrogen market is set to expand from US$130 billion to US$201 billion. This is due to growing demands from a range of industries to minimise carbon emissions and harness cleaner, greener energy sources.

This places Australia in a unique position to benefit from the surge in global hydrogen demand. Australia possesses significant stores of hydrogen sources and has been described by the World Energy Council as a future major supplier of the gas.

Australia’s geographic location also allows us to capitalist on growing hydrogen demands in the Asia Pacific market, currently valued at US$93 billion and is anticipated to grow at a CAGR of 10%.

  • The Australian government has invested AU$500 million to prepare Australia’s hydrogen exportation industry for future demands, with the export market expected to be worth around AU$11 billion by the year 2040.
  • Expected growth in demand from our largest trade partners, including Japan, which the CSIRO estimate to be importing up to 10 megatons per year alone by 2050.
  • Together with South Korea, China, and Singapore, these four nations alone are forecasted to import 3.8 million tonnes of hydrogen by 2030.
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The Future of Hydrogen in Australia

This places Australia in a unique position to benefit from the surge in global hydrogen demand. Australia possesses significant stores of hydrogen sources and has been described by the World Energy Council as a future major supplier of the gas.

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To support this shift, the Australian commonwealth has developed a national hydrogen strategy which pledges to:

  • Transition the country towards a higher proportion of variable renewable electricity sources.
  • Develop liquid fuel security by stockpiling hydrogen fuel reserves.
  • Build a technically skilled workforce capable of satisfying the growing global demand for the power source.
  • This roadmap will also change Australia’s domestic energy sector. Hydrogen has the potential to revolutionize almost every industry.

This roadmap will also change Australia’s domestic energy sector. Hydrogen has the potential to revolutionise almost every industry.

  • Currently, diesel generators alone are estimated to cost regional and remote communities AU$450 per MWh. Hydrogen will reduce this figure to AU$100 per MWh, presenting a big saving for regional and remote communities, and industries operating in those areas.
  • Considerable cost reductions are also expected in hydrogen’s replacing of natural gas, through Syngas. Syngas is an extremely rich form of hydrogen that is predicted to possess a market potential of US$66.5 billion by 2027.
  • Powering vehicles with hydrogen fuel cells has become a realistic solution for Australian industries, particularly those operating in remote areas. Hydrogen vehicles already have a range of roughly 750 kilometres, which is causing the hydrogen fuel cell market to grow rapidly.
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