A 25% reduction in carbon dioxide (CO2) emissions by 2030 is necessary to keep global warming to 1.5°C. One of the most promising ways to reduce greenhouse gas emissions is to use hydrogen as an energy carrier, making it a critical fuel in the move to sustainable energy generation. Since new generation pumps are vital for increased hydrogen production, the pump market growth is inevitable.
However, the market is not without challenges. Although hydrogen is a renewable energy source, most hydrogen produced today comes from fossil fuels, releasing CO2 into the environment. High capital expenses in hydrogen production, storage, and infrastructure installation; the absence of supportive regulatory frameworks; and end users’ lack of awareness and acceptance of hydrogen hinder the pump market’s growth.
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