(MENAFN) In line with a recent announcement from the top data and analytics business, GlobalData, the capacity for global hydrogen production is predicted to increase year over year by 165% to 4.5 million tons per annum (mtpa) by the end of the year.
According to GlobalData, the development of hydrogen is essential to completing the energy transition, attaining carbon reduction goals, and establishing leading enterprises as industry authorities.
The company's most recent report, Hydrogen Transition Outlook and Trends: Q1 2023, revealed that the total value of merger and acquisition (M&A) transactions reached USD24.4 billion last year, up 288 percent from 2021 levels.
'Venture finance deal values also grew from USD595.23 million to over USD3,001.1 million,' the announcement added.
According to the report's commentator, Andres Angulo, an energy analyst at GlobalData, over 393 hydrogen-related sales were completed in 2018—a major rise from the 277 deals recorded in 2021.
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