Hydrogen Market

Hydrogen Market Study by Methane Reforming, Oxidation of Oil, Coal Gasification, and Electrolysis for Power Generation, Petroleum, Metal Processing, Automotive Fuels, and Others from 2024 to 2034

Analysis of Hydrogen Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Hydrogen Market Outlook (2024 to 2034)

The global hydrogen market size is estimated at US$ 18.23 billion in 2024 and is projected to reach a size of US$ 47.83 billion by 2034-end, registering a robust CAGR of 10.4% between 2024 and 2034. The market is expanding rapidly, positioning itself as an essential component in the transition to a more sustainable and carbon-free future.

Need to combat climate change and cut greenhouse gas emissions is driving the world to look for cleaner energy choices. Because of its potential as a zero-emission fuel, hydrogen is a strategic choice for accomplishing environmental goals. From transportation and power generation to industrial processes, the versatility of hydrogen positions it as a promising alternative energy source with zero emissions, fostering a sustainable future.

Ongoing advancements in electrolysis, fuel cells, and storage technologies are poised to drive efficiency, scalability, and cost-effectiveness in hydrogen production and utilization. International partnerships and collaborations among governments, industries, and research institutions are fostering technological advancements and market scalability.

Key Markey Growth Drivers

  • Governments worldwide are committed to reducing carbon emissions, driving global demand for clean energy alternatives such as hydrogen.
  • Innovations in electrolysis, fuel cells, and storage technologies are enhancing the efficiency and cost-effectiveness of hydrogen production and utilization.
  • Industries such as refineries, chemicals, and steel are increasingly adopting hydrogen to lower emissions in their processes.
  • Hydrogen fuel-cell vehicles are gaining attention as a zero-emission alternative, promoting investment in hydrogen infrastructure.
  • Private and public investments in hydrogen-related projects, R&D, and infrastructure are boosting the market.
  • Growing awareness about the environmental benefits of hydrogen is stimulating demand across various industries.
Report Attributes Details
Hydrogen Market Size (2023A) US$ 16.51 Billion
Estimated Market Value (2024E) US$ 18.23 Billion
Forecasted Market Value (2034F) US$ 47.83 Billion
Global Market Growth Rate (2024 to 2034) 10.4% CAGR
North America Market Share (2034F) 26.4%
East Asia Market Growth Rate (2024 to 2034) 10.6% CAGR
North America Market Growth Rate (2024 to 2034) 10.9% CAGR
Centralized Production Segment Market Share (2024E) 63.4%
Key Companies Profiled
  • Messer Group GmbH
  • Hydrogenics Corp.
  • Nel ASA
  • Teledyne Technologies Inc.
  • Southern Industrial Gas Sdn Bhd
  • Linde plc
  • Air Products and Chemicals, Inc.
  • Air Liquide
  • Chevron Corporation
  • Saudi Arabian Oil Co.
  • Uniper SE
  • Worthington Industries
  • Gulf Cryo Holding C.S.C
  • Hexagon Purus
  • Bristol Gases - Concorde Corodex Group
  • Oxygen Service Company, Inc.
  • BayoTech
  • Luxfer Gas Cylinders
  • Quantum Fuel Systems LLC
  • AMS Composite Cylinders
  • Weldship Corporation

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Why is the Market for Hydrogen Growing Rapidly across the World?

“Rising Need to Reduce Greenhouse Gas Emissions”

Hydrogen, when produced using renewable energy sources or through low-carbon methods such as electrolysis, offers a promising pathway to decarbonize various sectors. The potential of hydrogen to serve as a clean energy carrier without emitting harmful pollutants or CO2 during utilization positions hydrogen as an essential tool in achieving global climate goals.

Governments worldwide are increasingly setting ambitious targets to curb emissions, and hydrogen, particularly green hydrogen, emerges as a viable solution. The emphasis on clean energy alternatives and the drive towards a carbon-neutral economy places hydrogen at the forefront of the energy transition, making it an indispensable element in mitigating the adverse impacts of climate change.

“Industrial Applications Driving Rapid Hydrogen Adoption”

Refineries, chemicals, and steel production have historically relied on fossil fuels, resulting in large carbon emissions. When employed as a feedstock or energy source in these industries, hydrogen provides a cleaner option that can considerably lower carbon footprints. Hydrogen is essential in desulfurization processes such as refining, allowing for the creation of cleaner fuels. Hydrogen is a major component in the synthesis of ammonia, a vital ingredient in fertilizers, and switching to green hydrogen production technologies can significantly reduce the overall carbon intensity of these processes.

As industries face mounting pressure to cut emissions and embrace sustainability, the versatility and eco-friendly attributes of hydrogen make it an attractive option for achieving cleaner and more efficient industrial operations. This growing demand within industrial sectors underscores the pivotal role hydrogen plays in fostering sustainable industrial practices and accelerating the transition towards a low-carbon economy.

Which Factors are Hindering Market Growth to Some Extent?

“High Cost of Production Creating Hurdle for Widespread Adoption of Hydrogen across Industries”

Electrolysis has the ability to produce green hydrogen, which means it does not emit carbon dioxide, especially when powered by renewable energy sources. The procedure, however, necessitates a large quantity of energy, which has a direct impact on the ultimate cost. The capital-intensive aspect of installing electrolyzers, combined with the energy requirements, greatly raises production costs. The high cost is further increased by the infrastructure needed for large-scale production and the upfront expenditures associated with developing and implementing new technologies.

Renewable energy sources, such as wind or solar power, are more environmentally friendly, but can be intermittent, causing changes in production prices and impeding constant and cost-effective hydrogen generation. The high production cost directly impacts the competitiveness of hydrogen compared to other energy alternatives. In sectors where cost-efficiency is crucial, such as transportation or industrial applications, the higher cost of hydrogen production makes it less attractive, especially when compared to conventional fossil fuels or even alternative clean energy sources like batteries for electric vehicles.

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How Can New Companies Gain a Competitive Advantage in Hydrogen Production Methods?

“Addressing Challenges of Cost-effectiveness and Scalability”

Start-ups can make significant investments in R&D to create unique and efficient techniques for hydrogen production, storage, and distribution. These start-ups can carve out a space for themselves by developing breakthrough technologies that answer the present difficulties of cost-effectiveness and scalability. Start-ups can target specific niche applications within the hydrogen ecosystem.

By focusing on particular sectors like transportation, industrial processes, or energy storage, they can tailor their offerings to meet the unique needs and demands of these industries. This specialization allows start-ups to develop tailored solutions that are more efficient and cost-effective, attracting clients seeking specialized hydrogen applications.

Given the evolving landscape of the hydrogen market, start-ups must stay agile and flexible in their strategies. Being open to pivoting or adjusting their focus based on market trends, technological advancements, or regulatory changes can help them stay ahead of the curve. Leveraging government incentives, grants, or subsidies for clean energy initiatives can provide start-ups with the necessary financial support to scale their operations and drive market adoption of their hydrogen solutions.

Country-wise Insights

Latest hydrogen market trends reveal that East Asia leads the global market. Countries such as China and South Korea lead the way in hydrogen adoption within the East Asia region. The market in North America is gaining momentum with substantial governmental support and private investments.

Why is China the Frontrunner in the East Asia Market?

“Rising Adoption Due to Technological Advancements, Supportive Policies, and Concerted Efforts towards Sustainability”

Attribute China
Market Value (2024E) US$ 3.32 Billion
Growth Rate (2024 to 2034) 10.2% CAGR
Projected Value (2034F) US$ 8.79 Billion

To combat environmental degradation and achieve its lofty carbon neutrality targets, China, the largest producer of greenhouse gases, has realized how urgently it must switch to cleaner energy sources. One of the pivotal drivers propelling hydrogen market growth of China is its unwavering support through robust policy frameworks and substantial investments.

China has introduced favorable policies, including financial incentives, subsidies, and targets for hydrogen production and utilization, fostering a conducive environment for industry players and investors. Owing to its strong industrial and technological capabilities, China is able to produce hydrogen on a larger scale. This reduces prices and boosts efficiency by utilizing advances in fuel cell, electrolysis, and storage technologies.

Automotive hydrogen fuel-cell vehicles have piqued the interest of China's booming automotive sector, prompting investments in infrastructure development for mass deployment. International collaborations and partnerships are instrumental in hydrogen strategy of China, fostering knowledge exchange, technology transfer, and market expansion. With its vast hydrogen market size, technological advancements, supportive policies, and concerted efforts towards sustainability, China is poised to emerge as a pivotal force propelling the global hydrogen market towards widespread adoption and commercial viability.

How are Hydrogen Market Opportunities Shaping Up in the United States?

“Combination of Policy Support, Abundant Renewable Resources, Infrastructure Readiness, and Collaborative Initiatives”

Attribute United States
Market Value (2024E) US$ 3.06 Billion
Growth Rate (2024 to 2034) 11.6% CAGR
Projected Value (2034F) US$ 9.15 Billion

The United States has a substantial edge when it comes to producing green hydrogen on an extensive scale via electrolysis because of the wide range of renewable energy resources distributed over its broad territory. The wide range of renewable energy, including wind and solar electricity, presents an opportunity to create hydrogen in an economical and ecologically friendly manner. Scaling up hydrogen production, storage, and distribution networks is also advantageous for the nation due to its current infrastructure and energy sector expertise.

The transportation sector, a crucial arena for hydrogen adoption, particularly benefits from the commitment of the United States to hydrogen vehicles. Major automotive manufacturers and IT firms are making significant investments in hydrogen fuel-cell technologies, encouraged by government grants and incentives, as the focus on decarbonizing transportation grows. This collaborative effort is pushing innovation and lowering the costs of hydrogen-powered vehicles, making them more competitive and appealing in the market.

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Category-wise Insights

Hydrogen is used in a variety of industries. Fuel-cell vehicles are gaining popularity as a zero-emission alternative in transportation, while hydrogen-powered trains and buses are also showing promising growth. Hydrogen integration benefits in pollution reduction and process efficiency gains in industries ranging from refining processes to ammonia production and steel making.

Which Delivery Mode is Gaining Popularity in the Hydrogen Supply Chain?

“Centralized Production Enhancing Logistical Efficiency in Distribution and Transportation”

Attribute Centralized Production
Segment Value (2024E) US$ 11.56 Billion
Growth Rate (2024 to 2034) 10.7% CAGR
Projected Value (2034F) US$ 31.37 Billion

Centralized production of hydrogen holds a leading position in the market due to several key advantages, especially in comparison to decentralized or on-site production methods. The delivery mode, centered on centralized production facilities, has gained traction owing to its efficiency, economies of scale, and technological advancements.

Centralized production allows for large-scale hydrogen generation, often utilizing advanced technologies like electrolysis, steam methane reforming (SMR), or other methods, resulting in cost efficiencies through bulk production. These facilities benefit from optimized infrastructure, streamlined processes, and enhanced operational control, ensuring consistent and reliable hydrogen supply to meet varying demands across industries.

Centralized production facilities facilitate better integration of carbon capture and storage (CCS) or carbon capture, utilization, and storage (CCUS) technologies. This integration aligns with the growing emphasis on producing low-carbon or even carbon-free hydrogen, a crucial factor in meeting sustainability goals. Large-scale production hubs enable easier management of transportation logistics, reducing costs associated with storage and delivery. This approach allows for the establishment of dedicated transportation networks, including pipelines or bulk transportation methods, enabling efficient supply chains to cater to diverse end-users across industries and geographical regions.

Competitive Landscape

Top companies in hydrogen market include Messer Group GmbH, Nel ASA, Southern Industrial Gas Sdn Bhd, Air Liquide S.A. and The Linde Group are vying for hydrogen market share and have established themselves as leaders in hydrogen production. Their expertise, coupled with substantial investments in research and development, allows them to pioneer efficient and cost-effective production methods, positioning them at the forefront of the market.

The competitive landscape of the market reflects a vibrant ecosystem characterized by innovation, strategic collaborations, and a relentless pursuit of technological advancements to drive sustainable and efficient hydrogen solutions.

  • Linde plc inked a long-term agreement with Evonik, a well-known specialty chemicals manufacturer, to deliver green hydrogen in April 2023.
  • Air Liquide and KBR announced a partnership in July 2023 to supply fully integrated low-carbon ammonia solutions based on Autothermal Reforming (ATR) technology.

Segmentation of Hydrogen Market Research

  • By Production Method:

    • Methane Reforming
    • Oxidation of Oil
    • Coal Gasification
    • Electrolysis
    • Others
  • By End Use:

    • Power Generation
    • Petroleum Refineries
    • Metal Processing
    • Automotive Fuels
    • Chemical
    • Glass Industries
    • Edible Fats & Oils
    • Others
  • By Delivery Mode:

    • Centralized Production
    • Distributed Production
  • By Region:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

Table of Content

1. Global Market - Executive Summary

    1.1. Global Market Overview

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Fact.MR Analysis and Recommendations

2. Global Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Introduction and Definition

3. Market Risks and Trends Assessment

    3.1. Risk Assessment

        3.1.1. COVID-19 Impact Benchmark with Previous Crisis

            3.1.1.1. Change in Demand

            3.1.1.2. Before and After COVID-19 Crisis (Projected)

            3.1.1.3. Before and After Sub-prime Crisis – 2008 (Actual)

            3.1.1.4. Change in Demand post Recovery Period (After Each Crisis)

        3.1.2. Impact on Market and Value (US$ Mn)

            3.1.2.1. Likely Loss of Value in 2023

            3.1.2.2. Mid-term and Long-term Forecasts

            3.1.2.3. Quarter by Quarter Demand and Recovery Assessment

        3.1.3. Anticipated Demand and Value Recovery Curve

            3.1.3.1. Likelihood of U-Shape Recovery

            3.1.3.2. Likelihood of L-Shape Recovery

        3.1.4. Recovery Period Assessment by Key Countries

        3.1.5. Recovery Assessment by Key Market Segments

        3.1.6. Action Points and Recommendations for Suppliers

        3.1.7. Impact on Trade Balance

    3.2. Key Trends Impacting the Market

    3.3. Formulation and Delivery Mode Development Trends

4. Market Background and Foundation Data Points

    4.1. Need of the Hour for Industries

    4.2. Industry Wise Industry 4.0

    4.3. – Strategic Priorities

    4.4. Life Cycle Stage

    4.5. Importance of Technology

    4.6. Use Cases of Hydrogen

    4.7. Forecast Factors: Relevance and Impact

    4.8. Investment Feasibility Matrix

    4.9. PESTLE Analysis

    4.10. Porter’s Five Forces Analysis

    4.11. Market Dynamics

        4.11.1. Drivers

        4.11.2. Restraints

        4.11.3. Opportunity Analysis

        4.11.4. Trend

5. Global Market Demand (US$ Mn) Analysis 2018 to 2023 and Forecast, 2024 to 2034

    5.1. Historical Market Value (US$ Mn) Analysis, 2018 to 2023

    5.2. Current and Future Market Value (US$ Mn) Projections, 2024 to 2034

        5.2.1. Y-o-Y Growth Trend Analysis

        5.2.2. Absolute $ Opportunity Analysis

6. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, By Delivery Mode

    6.1. Introduction / Key Findings

    6.2. Historical Market Value (US$ Mn) Analysis By Delivery Mode, 2018 to 2023

    6.3. Current and Future Market Value (US$ Mn) Analysis and Forecast By Delivery Mode, 2024 to 2034

        6.3.1. Centralized Production

        6.3.2. Distributed Production

    6.4. Market Attractiveness Analysis By Delivery Mode

7. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, by Production Method

    7.1. Introduction / Key Findings

    7.2. Historical Market Value (US$ Mn) Analysis By Production Method, 2018 to 2023

    7.3. Current and Future Market Value (US$ Mn) Analysis and Forecast By Production Method, 2024 to 2034

        7.3.1. Methane Reforming

        7.3.2. Oxidation of Oil

        7.3.3. Coal Gasification

        7.3.4. Electrolysis

        7.3.5. Others

    7.4. Market Attractiveness Analysis By Production Method

8. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, by End Use

    8.1. Introduction / Key Findings

    8.2. Historical Market Value (US$ Mn) Analysis By End Use, 2018 to 2023

    8.3. Current and Future Market Value (US$ Mn) Analysis and Forecast By End Use, 2024 to 2034

        8.3.1. Power Generation

        8.3.2. Petroleum Refineries

        8.3.3. Metal Processing

        8.3.4. Automotive Fuels

        8.3.5. Chemical

        8.3.6. Glass Industries

        8.3.7. Edible Fats & Oils

        8.3.8. Others

    8.4. Market Attractiveness Analysis By End Use

9. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, by Region

    9.1. Introduction / Key Findings

    9.2. Historical Market Value (US$ Mn) Analysis By Region, 2018 to 2023

    9.3. Current and Future Market Value (US$ Mn) Analysis and Forecast By Region, 2024 to 2034

        9.3.1. North America

        9.3.2. Latin America

        9.3.3. Europe

        9.3.4. East Asia

        9.3.5. South Asia & Oceania

        9.3.6. Middle East and Africa (MEA)

    9.4. Market Attractiveness Analysis By Region

10. North America Market Analysis 2018 to 2023 and Forecast 2024 to 2034

    10.1. Introduction / Key Findings

    10.2. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2023

    10.3. Market Value (US$ Mn) Forecast By Market Taxonomy, 2024 to 2034

        10.3.1. By Country

            10.3.1.1. United States

            10.3.1.2. Canada

        10.3.2. By Delivery Mode

        10.3.3. By Production Method

    10.4. Market Attractiveness Analysis

        10.4.1. By Country

        10.4.2. By Delivery Mode

        10.4.3. By Production Method

11. Latin America Market Analysis 2018 to 2023 and Forecast 2024 to 2034

    11.1. Introduction / Key Findings

    11.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2023

    11.3. Current and Future Market Value (US$ Mn) Analysis and Forecast By Region, 2024 to 2034

        11.3.1. By Country

            11.3.1.1. Brazil

            11.3.1.2. Mexico

            11.3.1.3. Rest of Latin America

        11.3.2. By Delivery Mode

        11.3.3. By Production Method

        11.3.4. By End Use

    11.4. Market Attractiveness Analysis

        11.4.1. By Country

        11.4.2. By Delivery Mode

        11.4.3. By Production Method

        11.4.4. By End Use

12. Europe Market Analysis 2018 to 2023 and Forecast 2024 to 2034

    12.1. Introduction / Key Findings

    12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2023

    12.3. Current and Future Market Value (US$ Mn) Analysis and Forecast By Region, 2024 to 2034

        12.3.1. By Country

            12.3.1.1. Germany

            12.3.1.2. France

            12.3.1.3. Italy

            12.3.1.4. Spain

            12.3.1.5. United Kingdom

            12.3.1.6. BENELUX

            12.3.1.7. Russia

            12.3.1.8. Rest of Europe

        12.3.2. By Delivery Mode

        12.3.3. By Production Method

        12.3.4. By End Use

    12.4. Market Attractiveness Analysis

        12.4.1. By Country

        12.4.2. By Delivery Mode

        12.4.3. By Production Method

        12.4.4. By End Use

13. East Asia Market Analysis 2018 to 2023 and Forecast 2024 to 2034

    13.1. Introduction / Key Findings

    13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2023

    13.3. Current and Future Market Value (US$ Mn) Analysis and Forecast By Region, 2024 to 2034

        13.3.1. By Country

            13.3.1.1. China

            13.3.1.2. Japan

            13.3.1.3. South Korea

        13.3.2. By Delivery Mode

        13.3.3. By Production Method

        13.3.4. By End Use

    13.4. Market Attractiveness Analysis

        13.4.1. By Country

        13.4.2. By Delivery Mode

        13.4.3. By Production Method

        13.4.4. By End Use

14. South Asia & Oceania Market Analysis 2018 to 2023 and Forecast 2024 to 2034

    14.1. Introduction / Key Findings

    14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2023

    14.3. Current and Future Market Value (US$ Mn) Analysis and Forecast By Region, 2024 to 2034

        14.3.1. By Country

            14.3.1.1. India

            14.3.1.2. Thailand

            14.3.1.3. Malaysia

            14.3.1.4. Singapore

            14.3.1.5. Vietnam

            14.3.1.6. ANZ

            14.3.1.7. Rest of South Asia & Oceania

        14.3.2. By Delivery Mode

        14.3.3. By Production Method

        14.3.4. By End Use

    14.4. Market Attractiveness Analysis

        14.4.1. By Country

        14.4.2. By Delivery Mode

        14.4.3. By Production Method

        14.4.4. By End Use

15. Middle East and Africa Market Analysis 2018 to 2023 and Forecast 2024 to 2034

    15.1. Introduction / Key Findings

    15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2023

    15.3. Current and Future Market Value (US$ Mn) Analysis and Forecast By Region, 2024 to 2034

        15.3.1. By Country

            15.3.1.1. GCC Countries

            15.3.1.2. South Africa

            15.3.1.3. Israel

            15.3.1.4. Rest of Middle East and Africa (MEA)

        15.3.2. By Delivery Mode

        15.3.3. By Production Method

        15.3.4. By End Use

    15.4. Market Attractiveness Analysis

        15.4.1. By Country

        15.4.2. By Delivery Mode

        15.4.3. By Production Method

        15.4.4. By End Use

16. Market Structure Analysis

    16.1. Market Analysis by Tier of Companies

    16.2. Market Concentration

    16.3. Market Share Analysis of Top Players

    16.4. Market Presence Analysis

17. Competition Analysis

    17.1. Competition Dashboard

    17.2. Competition Benchmarking

    17.3. Competition Deep Dive

    17.4. Messer Group GmbH

        17.4.1. Company Overview

        17.4.2. Delivery Mode overview

        17.4.3. SWOT Analysis

        17.4.4. Key Developments

    17.5. Hydrogenics Corp.

    17.6. Nel ASA

    17.7. Teledyne Technologies Inc.

    17.8. Southern Industrial Gas Sdn Bhd

    17.9. Linde plc

    17.10. Air Products and Chemicals, Inc.

    17.11. Air Liquide

    17.12. Chevron Corporation

    17.13. Saudi Arabian Oil Co.

    17.14. Uniper SE

    17.15. Worthington Industries

    17.16. Gulf Cryo Holding C.S.C

    17.17. Hexagon Purus

    17.18. Bristol Gases – Concorde Corodex Group

    17.19. Oxygen Service Company, Inc.

    17.20. BayoTech

    17.21. Luxfer Gas Cylinders

    17.22. Quantum Fuel Systems LLC

    17.23. AMS Composite Cylinders

    17.24. Weldship Corporation

18. Assumptions and Acronyms Used

19. Research Methodology

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List Of Table

Table 1: Global Market Value (US$ Mn) Analysis, by Delivery Mode, 2018 to 2023

Table 2: Global Market Value (US$ Mn) Analysis, by Delivery Mode, 2024 to 2034

Table 3: Global Market Value (US$ Mn) Opportunity Analysis, by Delivery Mode, 2024 to 2034

Table 4: Global Market Value (US$ Mn) Analysis, by Production Method, 2018 to 2023

Table 5: Global Market Value (US$ Mn) Analysis, by Production Method, 2024 to 2034

Table 6: Global Market Value (US$ Mn) Opportunity Analysis, by Production Method, 2024 to 2034

Table 7: Global Market Value (US$ Mn) Analysis, by End Use, 2018 to 2023

Table 8: Global Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034

Table 9: Global Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034

Table 10: Global Market Value (US$ Mn) Analysis, by Region, 2018 to 2023

Table 11: Global Market Value (US$ Mn) Analysis, by Region, 2024 to 2034

Table 12: Global Market Value (US$ Mn) Opportunity Analysis, by Region, 2024 to 2034

Table 13: North America Market Value (US$ Mn) Analysis, by Country, 2018 to 2023

Table 14: North America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 15: North America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 16: North America Market Value (US$ Mn) Analysis, by Delivery Mode, 2018 to 2023

Table 17: North America Market Value (US$ Mn) Analysis, by Delivery Mode, 2024 to 2034

Table 18: North America Market Value (US$ Mn) Opportunity Analysis, by Delivery Mode, 2024 to 2034

Table 19: North America Market Value (US$ Mn) Analysis, by Production Method, 2018 to 2023

Table 20: North America Market Value (US$ Mn) Analysis, by Production Method, 2024 to 2034

Table 21: North America Market Value (US$ Mn) Opportunity Analysis, by Production Method, 2024 to 2034

Table 22: North America Market Value (US$ Mn) Analysis, by End Use, 2018 to 2023

Table 23: North America Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034

Table 24: North America Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034

Table 25: Latin America Market Value (US$ Mn) Analysis, by Country, 2018 to 2023

Table 26: Latin America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 27: Latin America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 28: Latin America Market Value (US$ Mn) Analysis, by Delivery Mode, 2018 to 2023

Table 29: Latin America Market Value (US$ Mn) Analysis, by Delivery Mode, 2024 to 2034

Table 30: Latin America Market Value (US$ Mn) Opportunity Analysis, by Delivery Mode, 2024 to 2034

Table 31: Latin America Market Value (US$ Mn) Analysis, by Production Method, 2018 to 2023

Table 32: Latin America Market Value (US$ Mn) Analysis, by Production Method, 2024 to 2034

Table 33: Latin America Market Value (US$ Mn) Opportunity Analysis, by Production Method, 2024 to 2034

Table 34: Latin America Market Value (US$ Mn) Analysis, by End Use, 2018 to 2023

Table 35: Latin America Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034

Table 36: Latin America Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034

Table 37: Europe Market Value (US$ Mn) Analysis, by Country, 2018 to 2023

Table 38: Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 39: Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 40: Europe Market Value (US$ Mn) Analysis, by Delivery Mode, 2018 to 2023

Table 41: Europe Market Value (US$ Mn) Analysis, by Delivery Mode, 2024 to 2034

Table 42: Europe Market Value (US$ Mn) Opportunity Analysis, by Delivery Mode, 2024 to 2034

Table 43: Europe Market Value (US$ Mn) Analysis, by Production Method, 2018 to 2023

Table 44: Europe Market Value (US$ Mn) Analysis, by Production Method, 2024 to 2034

Table 45: Europe Market Value (US$ Mn) Opportunity Analysis, by Production Method, 2024 to 2034

Table 46: Europe Market Value (US$ Mn) Analysis, by End Use, 2018 to 2023

Table 47: Europe Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034

Table 48: Europe Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034

Table 49: East Asia Market Value (US$ Mn) Analysis, by Country, 2018 to 2023

Table 50: East Asia Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 51: East Asia Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 52: East Asia Market Value (US$ Mn) Analysis, by Delivery Mode, 2018 to 2023

Table 53: East Asia Market Value (US$ Mn) Analysis, by Delivery Mode, 2024 to 2034

Table 54: East Asia Market Value (US$ Mn) Opportunity Analysis, by Delivery Mode, 2024 to 2034

Table 55: East Asia Market Value (US$ Mn) Analysis, by Production Method, 2018 to 2023

Table 56: East Asia Market Value (US$ Mn) Analysis, by Production Method, 2024 to 2034

Table 57: East Asia Market Value (US$ Mn) Opportunity Analysis, by Production Method, 2024 to 2034

Table 58: East Asia Market Value (US$ Mn) Analysis, by End Use, 2018 to 2023

Table 59: East Asia Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034

Table 60: East Asia Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034

Table 61: South Asia & Oceania Market Value (US$ Mn) Analysis, by Country, 2018 to 2023

Table 62: South Asia & Oceania Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 63: South Asia & Oceania Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 64: South Asia & Oceania Market Value (US$ Mn) Analysis, by Delivery Mode, 2018 to 2023

Table 65: South Asia & Oceania Market Value (US$ Mn) Analysis, by Delivery Mode, 2024 to 2034

Table 66: South Asia & Oceania Market Value (US$ Mn) Opportunity Analysis, by Delivery Mode, 2024 to 2034

Table 67: South Asia & Oceania Market Value (US$ Mn) Analysis, by Production Method, 2018 to 2023

Table 68: South Asia & Oceania Market Value (US$ Mn) Analysis, by Production Method, 2024 to 2034

Table 69: South Asia & Oceania Market Value (US$ Mn) Opportunity Analysis, by Production Method, 2024 to 2034

Table 70: South Asia & Oceania Market Value (US$ Mn) Analysis, by End Use, 2018 to 2023

Table 71: South Asia & Oceania Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034

Table 72: South Asia & Oceania Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034

Table 73: MEA Market Value (US$ Mn) Analysis, by Country, 2018 to 2023

Table 74: MEA Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 75: MEA Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 76: MEA Market Value (US$ Mn) Analysis, by Delivery Mode, 2018 to 2023

Table 77: MEA Market Value (US$ Mn) Analysis, by Delivery Mode, 2024 to 2034

Table 78: MEA Market Value (US$ Mn) Opportunity Analysis, by Delivery Mode, 2024 to 2034

Table 79: MEA Market Value (US$ Mn) Analysis, by Production Method, 2018 to 2023

Table 80: MEA Market Value (US$ Mn) Analysis, by Production Method, 2024 to 2034

Table 81: MEA Market Value (US$ Mn) Opportunity Analysis, by Production Method, 2024 to 2034

Table 82: MEA Market Value (US$ Mn) Analysis, by End Use, 2018 to 2023

Table 83: MEA Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034

Table 84: MEA Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034

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List Of Figures

Figure 1: Global Market Value (US$ Mn) Historical Analysis, 2018 to 2023

Figure 2: Global Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 3: Global Market Value Y-o-Y Growth and Forecast, 2018 to 2034

Figure 4: Global Market Incremental $ Opportunity, 2024 to 2034

Figure 5: Global Market Share and BPS Analysis by Delivery Mode, 2024 & 2034

Figure 6: Global Market Y-o-Y Growth Projections by Delivery Mode, 2024 to 2034

Figure 7: Global Market Attractiveness Analysis by Delivery Mode, 2024 to 2034

Figure 8: Global Market Share and BPS Analysis by Production Method, 2024 & 2034

Figure 9: Global Market Y-o-Y Growth Projections by Production Method, 2024 to 2034

Figure 10: Global Market Attractiveness Analysis by Production Method, 2024 to 2034

Figure 11: Global Market Share and BPS Analysis by End Use, 2024 & 2034

Figure 12: Global Market Y-o-Y Growth Projections by End Use, 2024 to 2034

Figure 13: Global Market Attractiveness Analysis by End Use, 2024 to 2034

Figure 14: Global Market Share and BPS Analysis by Region, 2024 & 2034

Figure 15: Global Market Y-o-Y Growth Projections by Region, 2024 to 2034

Figure 16: Global Market Attractiveness Analysis by Region, 2024 to 2034

Figure 17: North America Market Value (US$ Mn) Historical Analysis, 2018 to 2023

Figure 18: North America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 19: North America Market Value Y-o-Y Growth and Forecast, 2034

Figure 20: North America Market Incremental $ Opportunity, 2024 to 2034

Figure 21: North America Market Share Analysis by Country, 2024 & 2034

Figure 22: North America Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 23: North America Market Attractiveness Analysis by Country, 2024 to 2034

Figure 24: North America Market Share and BPS Analysis by Delivery Mode, 2024 & 2034

Figure 25: North America Market Y-o-Y Growth Projections by Delivery Mode, 2024 to 2034

Figure 26: North America Market Attractiveness Analysis by Delivery Mode, 2024 to 2034

Figure 27: North America Market Share and BPS Analysis by Production Method, 2024 & 2034

Figure 28: North America Market Y-o-Y Growth Projections by Production Method, 2024 to 2034

Figure 29: North America Market Attractiveness Analysis by Production Method, 2024 to 2034

Figure 30: North America Market Share and BPS Analysis by End Use, 2024 & 2034

Figure 31: North America Market Y-o-Y Growth Projections by End Use, 2024 to 2034

Figure 32: North America Market Attractiveness Analysis by End Use, 2024 to 2034

Figure 33: Latin America Market Value (US$ Mn) Historical Analysis, 2018 to 2023

Figure 34: Latin America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 35: Latin America Market Value Y-o-Y Growth and Forecast, 2018 to 2034

Figure 36: Latin America Market Incremental $ Opportunity, 2024 to 2034

Figure 37: Latin America Market Share Analysis by Country, 2024 & 2034

Figure 38: Latin America Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 39: Latin America Market Attractiveness Analysis by Country, 2024 to 2034

Figure 40: Latin America Market Share and BPS Analysis by Delivery Mode, 2024 & 2034

Figure 41: Latin America Market Y-o-Y Growth Projections by Delivery Mode, 2024 to 2034

Figure 42: Latin America Market Attractiveness Analysis by Delivery Mode, 2024 to 2034

Figure 43: Latin America Market Share and BPS Analysis by Production Method, 2024 & 2034

Figure 44: Latin America Market Y-o-Y Growth Projections by Production Method, 2024 to 2034

Figure 45: Latin America Market Attractiveness Analysis by Production Method, 2024 to 2034

Figure 46: Latin America Market Share and BPS Analysis by End Use, 2024 & 2034

Figure 47: Latin America Market Y-o-Y Growth Projections by End Use, 2024 to 2034

Figure 48: Latin America Market Attractiveness Analysis by End Use, 2024 to 2034

Figure 49: Europe Market Value (US$ Mn) Historical Analysis, 2018 to 2023

Figure 50: Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 51: Europe Market Value Y-o-Y Growth and Forecast, 2018 to 2034

Figure 52: Europe Market Incremental $ Opportunity, 2024 to 2034

Figure 53: Europe Market Share Analysis by Country, 2024 & 2034

Figure 54: Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 55: Europe Market Attractiveness Analysis by Country, 2024 to 2034

Figure 56: Europe Market Share and BPS Analysis by Delivery Mode, 2024 & 2034

Figure 57: Europe Market Y-o-Y Growth Projections by Delivery Mode, 2024 to 2034

Figure 58: Europe Market Attractiveness Analysis by Delivery Mode, 2024 to 2034

Figure 59: Europe Market Share and BPS Analysis by Production Method, 2024 & 2034

Figure 60: Europe Market Y-o-Y Growth Projections by Production Method, 2024 to 2034

Figure 61: Europe Market Attractiveness Analysis by Production Method, 2024 to 2034

Figure 62: Europe Market Share and BPS Analysis by End Use, 2024 & 2034

Figure 63: Europe Market Y-o-Y Growth Projections by End Use, 2024 to 2034

Figure 64: Europe Market Attractiveness Analysis by End Use, 2024 to 2034

Figure 65: East Asia Market Value (US$ Mn) Historical Analysis, 2018 to 2023

Figure 66: East Asia Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 67: East Asia Market Value Y-o-Y Growth and Forecast, 2018 to 2034

Figure 68: East Asia Market Incremental $ Opportunity, 2024 to 2034

Figure 69: East Asia Market Share Analysis by Country, 2024 & 2034

Figure 70: East Asia Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 71: East Asia Market Attractiveness Analysis by Country, 2024 to 2034

Figure 72: East Asia Market Share and BPS Analysis by Delivery Mode, 2024 & 2034

Figure 73: East Asia Market Y-o-Y Growth Projections by Delivery Mode, 2024 to 2034

Figure 74: East Asia Market Attractiveness Analysis by Delivery Mode, 2024 to 2034

Figure 75: East Asia Market Share and BPS Analysis by Production Method, 2024 & 2034

Figure 76: East Asia Market Y-o-Y Growth Projections by Production Method, 2024 to 2034

Figure 77: East Asia Market Attractiveness Analysis by Production Method, 2024 to 2034

Figure 78: East Asia Market Share and BPS Analysis by End Use, 2024 & 2034

Figure 79: East Asia Market Y-o-Y Growth Projections by End Use, 2024 to 2034

Figure 80: East Asia Market Attractiveness Analysis by End Use, 2024 to 2034

Figure 81: South Asia & Oceania Market Value (US$ Mn) Historical Analysis, 2018 to 2023

Figure 82: South Asia & Oceania Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 83: South Asia & Oceania Market Value Y-o-Y Growth and Forecast, 2018 to 2034

Figure 84: South Asia & Oceania Market Incremental $ Opportunity, 2024 to 2034

Figure 85: South Asia & Oceania Market Share Analysis by Country, 2024 & 2034

Figure 86: South Asia & Oceania Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 87: South Asia & Oceania Market Attractiveness Analysis by Country, 2024 to 2034

Figure 88: South Asia & Oceania Market Share and BPS Analysis by Delivery Mode, 2024 & 2034

Figure 89: South Asia & Oceania Market Y-o-Y Growth Projections by Delivery Mode, 2024 to 2034

Figure 90: South Asia & Oceania Market Attractiveness Analysis by Delivery Mode, 2024 to 2034

Figure 91: South Asia & Oceania Market Share and BPS Analysis by Production Method, 2024 & 2034

Figure 92: South Asia & Oceania Market Y-o-Y Growth Projections by Production Method, 2024 to 2034

Figure 93: South Asia & Oceania Market Attractiveness Analysis by Production Method, 2024 to 2034

Figure 94: South Asia & Oceania Market Share and BPS Analysis by End Use, 2024 & 2034

Figure 95: South Asia & Oceania Market Y-o-Y Growth Projections by End Use, 2024 to 2034

Figure 96: South Asia & Oceania Market Attractiveness Analysis by End Use, 2024 to 2034

Figure 97: MEA Market Value (US$ Mn) Historical Analysis, 2018 to 2023

Figure 98: MEA Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 99: MEA Market Value Y-o-Y Growth and Forecast, 2018 to 2034

Figure 100: MEA Market Incremental $ Opportunity, 2024 to 2034

Figure 101: MEA Market Share Analysis by Country, 2024 & 2034

Figure 102: MEA Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 103: MEA Market Attractiveness Analysis by Country, 2024 to 2034

Figure 104: MEA Market Share and BPS Analysis by Delivery Mode, 2024 & 2034

Figure 105: MEA Market Y-o-Y Growth Projections by Delivery Mode, 2024 to 2034

Figure 106: MEA Market Attractiveness Analysis by Delivery Mode, 2024 to 2034

Figure 107: MEA Market Share and BPS Analysis by Production Method, 2024 & 2034

Figure 108: MEA Market Y-o-Y Growth Projections by Production Method, 2024 to 2034

Figure 109: MEA Market Attractiveness Analysis by Production Method, 2024 to 2034

Figure 110: MEA Market Share and BPS Analysis by End Use, 2024 & 2034

Figure 111: MEA Market Y-o-Y Growth Projections by End Use, 2024 to 2034

Figure 112: MEA Market Attractiveness Analysis by End Use, 2024 to 2034

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

- FAQs -

What is the value of the hydrogen market in 2024?

The global market is estimated at a value of US$ 18.23 billion in 2024.

What are the sales projections for hydrogen?

By 2034-end, worldwide sales of hydrogen are forecasted to reach US$ 47.83 billion.

At what rate is the demand for hydrogen predicted to increase?

Worldwide demand for hydrogen is forecasted to rise at 10.4% CAGR over the next 10 years.

At what rate is the market in North America predicted to grow?

The market in North America is projected to expand at 10.9% CAGR from 2024 to 2034.

Which country is a key market for hydrogen producers?

The United States is forecasted to account for a 72.5% share of the North American market by 2034.

Which delivery mode is set to occupy a leading share of the market?

Based on delivery mode, centralized production is forecasted to account for 65.6% market share by 2034.

- Also of Interest -

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Automotive Hydrogen Fuel Cell Market

Automotive Hydrogen Fuel Cell Market Size, Share, Growth Analysis By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) - Regional Forecast from 2019 to 2029

Hydrogen Generation Market

Hydrogen Generation Market Study by Coal Gasification and Steam Methane Reforming for Methanol Production, Ammonia Production, and Petroleum Refining from 2024 to 2034

Hydrogen Market

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