ESG Today writes that the company's "Green hydrogen: Energizing the path to net zero" report assessed multiple opportunities regarding investment, market growth and decarbonization, which could enable firms in the clean hydrogen industry reach revenues of 1.4 trillion USD and reduce 85 gigatons of CO2 emissions by mid-century.

Scientists emphasized in the report that hydrogen could be a fuel that will have a major impact in the decarbonization of the energy sector and other industries which currently rely on polluting fossil fuels.

With a current annual production capacity of 94 million tons, hydrogen will need significant investments in order to become a viable alternative to fossil fuels, especially since quite a lot of the current generation comes from polluting fuels in the first place.

The market of clean hydrogen, experts suggest, could reach an annual capacity of 172 million tons by 2030 and 600 million tons by 2050.

Fertilizer production is expected to be the first industry that will be a major customer of clean hydrogen, as companies in this sector already use important amounts of hydrogen to produce fertilizers. Heavy industries, such as steel and chemicals manufacturing, and transport are two other major sectors which could become serious customers in the green hydrogen market, since this fuel is suitable for both to decarbonize.

By 2050, required investments estimated by Deolitte experts are expected to reach 9.4 trillion USD, most of this going towards to production of green hydrogen, which is made possible by green energy sources, such as solar and wind. Thus, investments in solar and wind installations, 4.6 trillion USD in total, will be necessary to supply the required electricity for electrolysis.

The development of clean hydrogen production could be an important opportunity for developing countries, as this can account for 70% of the 1.4 trillion USD market and it could mean adding 1.5 million jobs per year. Energy exports are also expected to skyrocket to 280 billion USD per year, 110 billion coming from North African countries.