New trade routes are likely to emerge to connect demand centres with resource-rich regions
Hydrogen demand to grow sixfold by 2050 – McKinsey
Industrial use, road transport and synfuel production after 2035 are responsible for bulk of demand growth
Hydrogen demand is projected to grow at least sixfold by 2050, driven by the road transport, maritime and aviation sectors, according to the central scenario in consultancy McKinsey’s Global Energy Perspective. Demand could rise from 80mn t/yr today to 536mn t/yr by 2050, depending on uptake in particular sectors. In McKinsey’s ‘Further Acceleration’ scenario—where countries accelerate their commitments to the Paris climate deal and global warming is kept to 1.9°C this century—industrial use in the iron and steel sectors will drive 29mn t/yr of hydrogen demand growth by 2035. Another 26mn t/yr of demand growth is expected to come from road transport, driven by the increasing cost-competitive
Also in this section
9 March 2026
Hydrogen has not stalled in the UK because the technology does not work. The problem is that the system around it does not yet move at the speed required
4 March 2026
Turmoil in Middle East reminds nascent clean hydrogen sector that its future prospects are dependent on global energy markets and geopolitics
25 February 2026
Low-carbon hydrogen and ammonia development is advancing much more slowly and unevenly than once expected, with high costs and policy uncertainty thinning investment. Meanwhile, surging energy demand is reinforcing the role of natural gas and LNG as the backbone of the global energy system, panellists at LNG2026 said
18 February 2026
Norwegian energy company has dropped a major hydrogen project and paused its CCS expansion plans as demand fails to materialise
