Wednesday, December 25, 2024
HydrogenLatestNews

Hydrogen to support 64,000 jobs by 2030

The UK hydrogen sector will support 64,000 British jobs by 2030, a new Hydrogen UK report has claimed.

The study by the UK’s largest hydrogen industry association has unveiled projections indicating that the burgeoning hydrogen economy could generate over £7bn in gross value added (GVA) annually for the country by the end of the decade. 

Job growth represents a threefold increase over 2021 predictions, when the UK’s hydrogen strategy was first launched, underscoring the sector’s rapid expansion, as hydrogen emerges as a key player in addressing decarbonisation challenges through its adaptability. 

Reflecting the collective expertise of more than 100 member organisations, Hydrogen UK has released a revised Economic Impact Assessment for the Hydrogen Sector up to 2030, incorporating the latest data and targets.

With the UK well-positioned to be a hydrogen production hub, the production sector makes up a significant proportion of employment, accounting for 8,500 direct jobs by 2030 and contributing £2.9 billion in GVA per year by 2030, it said.

The study emphasises that job creation and economic expansion driven by the hydrogen industry will be distributed throughout the UK, offering substantial advantages to areas previously affected by underinvestment, including industrial clusters and regions like Scotland and Tees Valley.

In addition, Hydrogen UK’s analysis suggests the hydrogen sector presents an opportunity for the transition of hundreds of thousands of oil and gas jobs to a sustainable, low-carbon alternative.

Jamie Mitchell, Hydrogen UK’s lead analyst on the report said: 

“The period to 2030 will be a critical time for the UK to seize the economic opportunity presented by low carbon hydrogen sector. For the benefits outlined in our study to be realised, government and industry must continue to collaborate and make progress in the deployment of novel low carbon hydrogen projects.” 

Image from Shutterstock

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