Increasing Demand for Clean Energy Worldwide to Augment Growth of the Hydrogen Market
Hydrogen is a flammable, tasteless, odorless, and colorless gaseous substance that exists in molecular forms on the earth. It is widely used across various end-use industries, such as food and beverages, telecommunications, semiconductor, aerospace, petroleum, power generation, automotive, chemicals, nuclear energy, etc. for a wide range of applications. Hydrogen is the cleanest form of energy as well as it does not emit carbon or any residue on combustion. Moreover, hydrogen is the most abundant chemical substance in the universe, accounting for about 75% of all baryonic mass. Market Dynamics: Increasing demand for clean energy worldwide, as hydrogen is the cleanest form of energy as well as it does not emit carbon or any residue on combustion, is expected to propel the growth of the hydrogen market. For instance, in February 2021, Royal HaskoningDHV awarded a contract for environmental consultancy services for NortH2, a large offshore wind-to-hydrogen project being developed by