According to a new report published by the Hydrogen Council, the gas could make up 18% of global energy consumed by 2050.
The group, consisting of representatives from a number of leading firms across transport, industry and energy found that by 2030, Hydrogen could power 10-15 million vehicles; 500,000 of which could be lorries.
The predicted tenfold increase in Hydrogen use is also being put down to its use in industrial processes, building heating, power and storage.
However, the report claims that getting to this level would require around £19 billion per year in investment.
Chairman of Toyota and Co-Chair of the Hydrogen Council, Takeshi Uchiyamada stated: “The world in the 21st century must transition to widespread low carbon energy use.”
“Hydrogen is an indispensable resource to achieve this transition because it can be used to store and transport wind, solar and other renewable electricity to power transportation and many other things.”
“The Hydrogen Council has identified seven roles for hydrogen, which is why we are encouraging governments and investors to give it a prominent role in their energy plans.”
“The sooner we get the hydrogen economy going, the better and we are all committed to making this a reality.”