The market growth is driven by the rising popularity of this technology worldwide. Lately, several global industries and regulatory organisations have begun to plan the inclusion of hydrogen in their energy mixes.
According to International Renewable Energy Agency studies, green hydrogen is two to three times more expensive than blue hydrogen.
Similarly, the intervention of major oil firms in the creation of blue hydrogen is demonstrating its potential as an effective source of energy.
Blue hydrogen calls for a wide range of applications in a variety of energy-consuming sectors. In fact, hydrogen fuel is expected to alter the energy business, making it more sustainable and ecologically benign.
In light of these trends, along with numerous energy consulting organisations worldwide, significant players in the energy sector and several governments are taking an active interest and investing heavily in blue hydrogen.
For instance, in October 2021, John Bel Edwards, Louisiana Governor, and Air Products, a renowned American chemical and gas company, announced the construction of a $4.5bn clean energy complex in Louisiana, to position the state as a leader in the U.S. clean energy transition.
