DNV Sees Clean Hydrogen Growing 100-Fold by 2060

Why It Matters

The scale‑up signals a massive new market for low‑carbon fuels, reshaping energy security and decarbonisation pathways for heavy industry and transport. Investors and policymakers must address safety and certification gaps to unlock the projected growth.

Key Takeaways

• Global clean hydrogen to grow 100‑fold by 2060.
• China to generate 35% of new hydrogen capacity.
• Steel, aviation, maritime to use >50% of hydrogen demand.
• DNV cuts 2022 forecast by 35% due to policy lag.
• Safety certification essential for scaling hydrogen market.

Pulse Analysis

The DNV forecast underscores a paradigm shift in the global energy mix, positioning clean hydrogen as a cornerstone of decarbonisation. With $3.2 trillion slated for investment, the sector is poised to rival traditional fossil fuels in scale, especially as nations chase energy‑security objectives. This momentum is not merely speculative; it reflects tangible advances in electrolyzer efficiency and the falling cost of renewable electricity, creating a viable pathway for large‑scale hydrogen production.

Sectoral demand dynamics further amplify the outlook. Steelmaking, aviation, and maritime transport together are projected to account for over half of hydrogen consumption by 2060, highlighting the fuel’s role in hard‑to‑electrify industries. China’s dominance—forecast to deliver 35% of new capacity—stems from its expansive electrolyzer manufacturing base and aggressive renewable‑energy rollout. Europe, meanwhile, will host half of the electrolytic capacity added by 2030, indicating a balanced geographic spread that could foster competitive supply chains and technology diffusion.

Despite the bullish numbers, DNV warns that growth hinges on robust safety, certification, and emissions‑verification frameworks. Regulatory clarity and standardized testing are essential to build market confidence and attract capital. Policymakers must therefore accelerate the codification of hydrogen standards while supporting R&D that mitigates technical risks. For investors, the message is clear: the hydrogen market offers substantial upside, but only if the industry can deliver reliable, low‑carbon credentials that satisfy both regulators and end‑users.