WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 196
Market Data
Physical Energy Flows
ENERGY IN
THE REGIONS
Investment in hydrogen electrolysers is set to increase by 140% in 2024, reaching $5 billion due to
new capacity additions and cost inflation
FIGURE 3
•
China will invest $900 million in a new plant
in 2024 and plans 20+ 100 MW projects by
2026
•
Europe’s investment will increase 120%,
featuring a $270 million electrolyser in
Portugal and a $7 billion steel plant in
Sweden
•
The USA will see a 120% rise in investment,
driven by the Clean Hydrogen Production
Tax Credit, with a $550 million plant in
Arizona
•
Saudi Arabia’s $8.4 billion plant will be the
world’s largest, starting in 2026, and ACME
Group in Oman will invest $480 million in a
2025 project
Investment in hydrogen electrolysers and other supply by region (left) and intended use (right)
6
Billion $ (2023, MER)
6
4
4
2
2
2019
2020
2021
2022
United States
China
Latin America
Other
2023
Europe
2024e
2019
2020
2021
2022
2023
2024e
Industry or Re昀椀ning
Mobility
Electricity Storage
H2-based fuels or trade
WEMO 2024
HOME
Hydrogen
Source: World Energy Investment 2024
196
Other
