DNV Sees Clean Hydrogen Growing 100-Fold by 2060
Clean hydrogen production is expected to grow 100-fold by 2060, driven by energy security concerns and large-scale expansion in China, according to a new forecast from classification society DNV.
In its latest report, Energy Transition Outlook 2026: Hydrogen to 2060, DNV said global hydrogen volumes are expected to grow by 170% by 2060, supported by cumulative investment of $3.2 trillion.
China is forecast to account for 35% of new hydrogen production and demand growth over the period, supported by its dominant electrolyzer manufacturing base and expanding renewable energy capacity.
The report said clean hydrogen demand is expected to be led by steelmaking, aviation and maritime sectors, which together are projected to account for more than half of total clean hydrogen use by 2060.
DNV said it had revised down its mid-century hydrogen forecast by 35% compared with its 2022 outlook due to slower policy support and stronger progress in electrification technologies.
“The hydrogen industry is poised for growth, but it is a fragile stance. Hydrogen completes the most difficult aspects of the decarbonization drive that so many nations have committed to. In driving fossil dependency out of critical sectors, hydrogen also contributes meaningfully to energy security. It is time for policymakers to study carefully the practical progress that has been made and to act decisively,” said Ditlev Engel, CEO, Energy Systems at DNV.
According to DNV, half of new renewable electrolysis-based hydrogen capacity added by 2030 is expected to be installed in Europe and China.
The company also warned that future growth depends on improving confidence in hydrogen safety, certification and emissions verification systems.
“Going forward, it is about fine-tuning the regulations, implementing these in legislation, and verifying safety concepts, documenting technical performance, and certifying emission reductions. That is how renewable and low carbon hydrogen can make a difference for hard-to-electrify sectors,” added Magnus Killingland, Global Segment Lead Hydrogen.
