Hydrogen Market

Global Hydrogen Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Application, By Source, By Generation Type, By Geographic Coverage and By Company)

Published Date: Jul 2023 | Format: | No. of Pages: 300

Industry: Energy & Natural Resources


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A wide range of applications makes hydrogen an intriguing subset of the clean energy sector that holds ample possibility for future expansion. The approximately US$185 Bn global market for hydrogen has been assessed in the report that will reveal how the market growth will unfold in future.

Market Analysis in Brief

Hydrogen is produced on a commercial basis today. As a result, providing hydrogen to industrial users has grown to be a phenomenal global industry. Less than 5% of the world's energy is currently provided by hydrogen, and its full potential for clean energy transitions has not yet been fulfilled. With the support of aggressive government programmes, it is mostly used for oil refining and chemical manufacture, and it may account for about a quarter of world energy consumption by 2050. Some key hydrogen technologies, such as direct reduced iron (DRI) for steel manufacturing, the use of ammonia in shipping vessels and the use of synthetic fuels in aviation, are not yet commercially available. Trucks, aeroplanes, and ships may soon be propelled by hydrogen. Additionally, it can be used to produce fertilizers, heat homes, produce power, maintain the balance of electricity networks, and support heavy industries in the production of everything from steel to cement.

Hydrogen Market

Key Report Findings

  • By the end of 2030, the hydrogen market size will reach US$328 Bn
  • The global sustainability and clean energy drives are setting the stage for the establishment of a reliable futuristic hydrogen ecosystem
  • Hydrogen generation is yet to attain the production capacity to cater to the mainstream application areas like fuel cell vehicles
  • Role of governments will be instrumental to the build-up of hydrogen industry
  • On-site captive production will continue to lead with over 75% share of the total hydrogen market revenue pie
  • Led by China, Asia Pacific maintains dominance with more than 40% share of the overall market value

Growth Drivers

Governments Accelerate their Journey Toward Sustainability

In recent years an increasing number of countries have committed to achieving net zero emissions. The rise of environmental, social, and corporate governance (ESG) is set to draw new attention to clean energy markets such as hydrogen. Governments from around the world have been developing regulatory policy frameworks that promote sustainability through lowering carbon footprint. Most notably, the landmark Paris Agreement.

According to Hydrogen Council, as of early 2021, over 30 countries have released hydrogen roadmaps with national hydrogen strategies in place, and governments worldwide have committed public funding in support of decarbonisation through hydrogen technologies. 200+ large-scale projects (with 85% located in Europe, Asia, and Australia) have been announced across the value chain, with a total value exceeding $300 Bn through 2030. Of this investment, $80 Bn can currently be considered mature, which indicates that these projects are either in their planning stage, have passed a final investment decision (FID), or under construction, already commissioned, or operational.

Some of the energy giants are diversifying in the clean energy sector. Utilities NextEra, Iberdrola, and Uniper have recently forayed into green hydrogen, challenging a sector otherwise dominated by oil companies (Shell, BP, Equinor, and ACWA Power). The top emerging opportunities for hydrogen fuel include the electric vehicle (EV) boom which is set to boost the popularity of hydrogen power as it is exceptionally energy-efficient and eliminate the need for prolonger charging. Toyota Mirai is an early example of hydrogen fuel cell technology in EVs.

Sustainability Targets Push Blue and Green Hydrogen Production

In terms of source, the global hydrogen market has been segregated into grey hydrogen (without CCS), blue hydrogen (with CCS), and green hydrogen. In 2022, grey hydrogen dominated the market and constituted more than 90% share.

Hydrogen can be generated by splitting water with electricity (electrolysis), or by splitting fossil fuels or biomass with heat or steam, using reforming or pyrolysis. Grey hydrogen is produced from fossil fuels such as unabated natural gas, coal, and oil without carbon capture and storage facilities. While blue hydrogen is made from captured CO2 from CCU facilities. Green hydrogen is made from electrolysis process. Out of these, the blue and green hydrogen segments are expected to register CAGR of 24.1% and 17.8% from 2023-2030, by value.

Steam methane reforming (SMR) or auto thermal reforming (ATR) produces blue hydrogen - considered blue when the emissions – carbon dioxide, and carbon monoxide - can be captured and stored underground via industrial carbon capture and storage (CSS). This remains the most cost-effective way method for hydrogen generation, which will lead to its dominance.

Hydrogen Generation Market Has a Long Way to Go Before it Mainstreams for Fuel Cell Vehicles

In terms of application, the global hydrogen market has been classified as refining, ammonia, methanol, iron & steel, chemical, transport, and others. In 2022, refining segment dominated and constituted 48% share by value. Majority of hydrogen is utilised in industrial usages while transport segment is likely to register the strongest growth by 2030 owing to rise in hydrogen fuel cell vehicles demand.

Fuel cells are not completely energy efficient. However, the use of hydrogen is recently gaining prominence across the various industry segments such as oil refining, ammonia production, methanol production, and steel production. Virtually, all this hydrogen is supplied using fossil fuels, thus there is a significant potential to achieving emission reduction from clean hydrogen.

On the other side, although hydrogen generation has been spreading its roots to enable hydrogen as a fuel to put significant contribution to clean energy transitions, the pace is currently remarkably low. Adoption needs to be in sectors where it is almost completely absent such as transport, building and construction, and power generation.

Overview of Key Segments

On-site Hydrogen Captive Production to Lead till 2030

In terms of generation type, the global hydrogen market has been segmented into onsite, by-product, and captive. In 2022, captive segment dominated and constituted 75% share by value. Captive hydrogen production on-site used exclusively for own consumption within the same facility. Only a small fraction of the manufacturing capacity at the merchant plants is available to supply the larger market; a substantial section of the merchant plants is totally devoted to servicing large industrial customers on-site.

A single customer or an industrial cluster is often served by hydrogen produced in large industrial plants. Usually produced in close vicinity or distributed with pipelines. Whenever it was possible to verify that the installation was serving a single customer those installations were categorised as captive. In other cases, they were categorised as merchant. By-product hydrogen that is vented to the atmosphere or used as feedstock for internal processes or for on-site energy generation. By-product hydrogen that is purified and sold to merchants for further resale. By-product hydrogen is also sold directly to nearby captive industry.

Growth Opportunities Across Regions

Europe to Register Highest Growth by 2030

In terms of generation type, China is the world’s largest consumer of hydrogen. The U.S. is the second-largest consumer and leading producer of hydrogen. Middle East the third-largest consumer followed by Europe. In 2022, Asia Pacific dominated and constituted more than 40% share. China constitutes more than 60% of hydrogen demand in Asia Pacific. Around 680 proposals for large-scale hydrogen projects worth US$240 Bn in direct investment through 2030 were made in 2022, a 50% increase in investment since November 2021. Only 10% (or US$22 Bn) have made a final investment choice, nevertheless.

From a regional perspective, Europe and North America is expected to witness strong growth by 2030. Europe and North America leads in terms of planned and feasible hydrogen generation projects till 2030., By 2030, hydrogen generation projects in Europe, and North America accounted for over 60% of the total announced clean hydrogen supply volumes, with the highest volumes found in Europe (about 8 MT in announced supply).

Globally, the mobility sector and new industry end-uses like steelmaking receive roughly 30% of all announced investments. Existing industry end uses like ammonia, and refining receive about 25% of all announced investments. Announced investments have more than tripled since 2021 (from US$5-16 Bn) in existing industrial uses where clean hydrogen directly replaces fossil-based ("grey") hydrogen.

Global Hydrogen Generation Market: Key Players

Royal Dutch Shell, Totalenergies, Adani Green, Air Liquide, Air Products, Bloom Energy Corp., CTP Hydrogen, Chevron Hydrogen Company LLC, Doosan Fuel Cell, FuelCell Energy, Inc., Linde Plc, Plug Power, Inc., and others constitute some of the key producers in the global hydrogen.

Notable Developments

  • In July 2022, Shell Plc started building a renewable hydrogen plant in the Netherlands, which according to the energy giant will be Europe's largest once it is operational by 2025
  • In June 2022, Adani and TotalEnergies entered a new partnership to jointly create the world’s largest green hydrogen ecosystem. In this strategic alliance, TotalEnergies will acquire 25% minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL)

The Global Hydrogen Market is Segmented as Below:

By Application Coverage      

  • Refining
  • Ammonia
  • Methanol
  • Iron & Steel
  • Chemical
  • Transport
  • Others

By Source Coverage

  • Grey Hydrogen (without CCS)
  • Natural Gas
  • Coal
  • Oil
  • Blue Hydrogen (With CCS)
  • Green Hydrogen

By Generation Type Coverage

  • Merchant
  • By-product
  • Captive

By Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Netherlands
    • Poland
    • Spain
    • Italy
    • U.K.
    • Rest of EU
  • Asia Pacific
    • China
    • India
    • Japan
    • Indonesia
    • Rest of APAC
  • Middle East & Africa
    • Iran
    • Saudi Arabia
    • Egypt
    • Rest of MEA
  • Latin America
    • Brazil
    • Trinidad & Tobago
    • Rest of LA

Leading Companies

  • Air Liquide
  • Air Products
  • Royal Dutch Shell
  • Bloom Energy Corp.
  • CTP Hydrogen
  • Chevron Hydrogen Company LLC
  • Doosan Fuel Cell
  • Adani Green Energy
  • FuelCell Energy, Inc.
  • Linde Plc
  • Plug Power, Inc.

Inside This Report You Will Find:

1. Executive Summary
2. Market Overview
3. Hydrogen Production outlook, Price Trends Analysis, 2019 - 2030
4. Global Hydrogen Market Outlook, 2019 - 2030
5. North America Hydrogen Market Outlook, 2019 - 2030
6. Europe Hydrogen Market Outlook, 2019 - 2030
7. Asia Pacific Hydrogen Market Outlook, 2019 - 2030
8. Middle East & Africa Hydrogen Market Outlook, 2019 - 2030
9. Latin America Hydrogen Market Outlook, 2019 - 2030
10. Competitive Landscape
11. Appendix

1. Executive Summary
     1.1. Global Hydrogen Market Snapshot
     1.2. Future Projections
     1.3. Key Market Trends
     1.4. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
            2.2.2. Restraints
            2.2.3. Market Opportunities
            2.2.4. Economic Trends
     2.3. Value Chain Analysis
     2.4. Porter’s Five Forces Analysis
     2.5. COVID-19 Impact
            2.5.1. Supply Chain
            2.5.2. End-user Industry Customer Impact Analysis

3. Hydrogen Production outlook, Price Trends Analysis, 2019 - 2030

4. Global Hydrogen Market Outlook, 2019 - 2030

     4.1. Global Hydrogen Market Outlook, by Application, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            4.1.1. Key Highlights
                    4.1.1.1. Refining
                    4.1.1.2. Ammonia
                    4.1.1.3. Methanol
                    4.1.1.4. Iron & Steel
                    4.1.1.5. Chemical
                    4.1.1.6. Transport
                    4.1.1.7. Others
            4.1.2. BPS Analysis/Market Attractiveness Analysis, by Application
     4.2. Global Hydrogen Market Outlook, by Source, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            4.2.1. Key Highlights
                    4.2.1.1. Grey Hydrogen (Without CCS)
                    4.2.1.1.1. Natural Gas
                    4.2.1.1.2. Coal
                    4.2.1.1.3. Oil
                    4.2.1.2. Blue Hydrogen (With CCS)
                    4.2.1.3. Green Hydrogen (Electrolysis)
            4.2.2. BPS Analysis/Market Attractiveness Analysis, by Source
     4.3. Global Hydrogen Market Outlook, by Generation Type, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            4.3.1. Key Highlights
                    4.3.1.1. Merchant
                    4.3.1.2. By-product
                    4.3.1.3. Captive
            4.3.2. BPS Analysis/Market Attractiveness Analysis, by Generation Type
     4.4. Global Hydrogen Market Outlook, by Region, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            4.4.1. Key Highlights
                    4.4.1.1. North America
                    4.4.1.2. Europe
                    4.4.1.3. Asia Pacific
                    4.4.1.4. Middle East & Africa
                    4.4.1.5. Latin America
            4.4.2. BPS Analysis/Market Attractiveness Analysis, by Region

5. North America Hydrogen Market Outlook, 2019 - 2030
     5.1. North America Hydrogen Market Outlook, by Application, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            5.1.1. Key Highlights
                    5.1.1.1. Refining
                    5.1.1.2. Ammonia
                    5.1.1.3. Methanol
                    5.1.1.4. Iron & Steel
                    5.1.1.5. Chemical
                    5.1.1.6. Transport
                    5.1.1.7. Others
     5.2. North America Hydrogen Market Outlook, by Source, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            5.2.1. Key Highlights
                    5.2.1.1. Grey Hydrogen (Without CCS)
                          5.2.1.1.1. Natural Gas
                          5.2.1.1.2. Coal
                          5.2.1.1.3. Oil
                    5.2.1.2. Blue Hydrogen (With CCS)
                    5.2.1.3. Green Hydrogen (Electrolysis)
     5.3. North America Hydrogen Market Outlook, by Generation Type, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            5.3.1. Key Highlights
                    5.3.1.1. Merchant
                    5.3.1.2. By-product
                    5.3.1.3. Captive
     5.4. North America Hydrogen Market Outlook, by Country, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            5.4.1. Key Highlights
                    5.4.1.1. U.S. Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    5.4.1.2. Canada Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030

6. Europe Hydrogen Market Outlook, 2019 - 2030
     6.1. Europe Hydrogen Market Outlook, by Application, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            6.1.1. Key Highlights
                    6.1.1.1. Refining
                    6.1.1.2. Ammonia
                    6.1.1.3. Methanol
                    6.1.1.4. Iron & Steel
                    6.1.1.5. Chemical
                    6.1.1.6. Transport
                    6.1.1.7. Others
     6.2. Europe Hydrogen Market Outlook, by Source, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            6.2.1. Key Highlights
                    6.2.1.1. Grey Hydrogen (Without CCS)
                          6.2.1.1.1. Natural Gas
                          6.2.1.1.2. Coal
                          6.2.1.1.3. Oil
                    6.2.1.2. Blue Hydrogen (With CCS)
                    6.2.1.3. Green Hydrogen (Electrolysis)
     6.3. Europe Hydrogen Market Outlook, by Generation Type, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            6.3.1. Key Highlights
                    6.3.1.1. Merchant
                    6.3.1.2. By-product
                    6.3.1.3. Captive
     6.4. Europe Hydrogen Market Outlook, by Country, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            6.4.1. Key Highlights
                    6.4.1.1. Germany Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    6.4.1.2. Italy Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    6.4.1.3. The Netherlands Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    6.4.1.4. Spain Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    6.4.1.5. Russia & CIS Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    6.4.1.6. Rest of Europe Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030

7. Asia Pacific Hydrogen Market Outlook, 2019 - 2030
     7.1. Asia Pacific Hydrogen Market Outlook, by Application, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            7.1.1. Key Highlights
                    7.1.1.1. Refining
                    7.1.1.2. Ammonia
                    7.1.1.3. Methanol
                    7.1.1.4. Iron & Steel
                    7.1.1.5. Chemical
                    7.1.1.6. Transport
                    7.1.1.7. Others
     7.2. Asia Pacific Hydrogen Market Outlook, by Source, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            7.2.1. Key Highlights
                    7.2.1.1. Grey Hydrogen (Without CCS)
                          7.2.1.1.1. Natural Gas
                          7.2.1.1.2. Coal
                          7.2.1.1.3. Oil
                    7.2.1.2. Blue Hydrogen (With CCS)
                    7.2.1.3. Green Hydrogen (Electrolysis)
     7.3. Asia Pacific Hydrogen Market Outlook, by Generation Type, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            7.3.1. Key Highlights
                    7.3.1.1. Merchant
                    7.3.1.2. By-product
                    7.3.1.3. Captive
     7.4. Asia Pacific Hydrogen Market Outlook, by Country, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            7.4.1. Key Highlights
                    7.4.1.1. China Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    7.4.1.2. India Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    7.4.1.3. Japan Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    7.4.1.4. Indonesia Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    7.4.1.5. Rest of Asia Pacific Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030

8. Middle East & Africa Hydrogen Market Outlook, 2019 - 2030
     8.1. Middle East & Africa Hydrogen Market Outlook, by Application, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            8.1.1. Key Highlights
                    8.1.1.1. Refining
                    8.1.1.2. Ammonia
                    8.1.1.3. Methanol
                    8.1.1.4. Iron & Steel
                    8.1.1.5. Chemical
                    8.1.1.6. Transport
                    8.1.1.7. Others
     8.2. Middle East & Africa Hydrogen Market Outlook, by Source, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            8.2.1. Key Highlights
                    8.2.1.1. Grey Hydrogen (Without CCS)
                          8.2.1.1.1. Natural Gas
                          8.2.1.1.2. Coal
                          8.2.1.1.3. Oil
                    8.2.1.2. Blue Hydrogen (With CCS)
                    8.2.1.3. Green Hydrogen (Electrolysis)
     8.3. Middle East & Africa Hydrogen Market Outlook, by Generation Type, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            8.3.1. Key Highlights
                    8.3.1.1. Merchant
                    8.3.1.2. By-product
                    8.3.1.3. Captive
     8.4. Middle East & Africa Hydrogen Market Outlook, by Country, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            8.4.1. Key Highlights
                    8.4.1.1. Iran Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    8.4.1.2. Saudi Arabia Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    8.4.1.3. Egypt Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    8.4.1.4. Rest of Middle East & Africa Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030

9. Latin America Hydrogen Market Outlook, 2019 - 2030
     9.1. Latin America Hydrogen Market Outlook, by Application, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            9.1.1. Key Highlights
                    9.1.1.1. Refining
                    9.1.1.2. Ammonia
                    9.1.1.3. Methanol
                    9.1.1.4. Iron & Steel
                    9.1.1.5. Chemical
                    9.1.1.6. Transport
                    9.1.1.7. Others
     9.2. Latin America Hydrogen Market Outlook, by Source, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            9.2.1. Key Highlights
                    9.2.1.1. Grey Hydrogen (Without CCS)
                          9.2.1.1.1. Natural Gas
                          9.2.1.1.2. Coal
                          9.2.1.1.3. Oil
                    9.2.1.2. Blue Hydrogen (With CCS)
                    9.2.1.3. Green Hydrogen (Electrolysis)
     9.3. Middle East & Africa Hydrogen Market Outlook, by Generation Type, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            9.3.1. Key Highlights
                    9.3.1.1. Merchant
                    9.3.1.2. By-product
                    9.3.1.3. Captive
     9.4. Latin America Hydrogen Market Outlook, by Country, Value (US$ Mn) & Volume (Million Tons), 2019 - 2030
            9.4.1. Key Highlights
                    9.4.1.1. Brazil Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, 2019 - 2030
                    9.4.1.2. Trinidad & Tobago Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, End-user Industry, 2019 - 2030
                    9.4.1.3. Rest of Latin America Hydrogen Market, Value (US$ Mn) & Volume (Million Tons), by Application, Source, End-user Industry, 2019 - 2030

10. Competitive Landscape
     10.1. Company Market Share Analysis, 2022
     10.2. Strategic Collaborations
     10.3. Company Profiles
            10.3.1. Royal Dutch Shell
                    10.3.1.1. Company Overview
                    10.3.1.2. Product Portfolio
                    10.3.1.3. Financial Overview
                    10.3.1.4. Business Strategies and Development
            10.3.2. FuelCell Energy, Inc.
                    10.3.2.1. Company Overview
                    10.3.2.2. Product Portfolio
                    10.3.2.3. Financial Overview
                    10.3.2.4. Business Strategies and Development
            10.3.3. Bloom Energy Corp
                    10.3.3.1. Company Overview
                    10.3.3.2. Product Portfolio
                    10.3.3.3. Financial Overview
                    10.3.3.4. Business Strategies and Development
            10.3.4. Plug Power, Inc.
                    10.3.4.1. Company Overview
                    10.3.4.2. Product Portfolio
                    10.3.4.3. Financial Overview
                    10.3.4.4. Business Strategies and Development
            10.3.5. Air Products and Chemicals Inc.
                    10.3.5.1. Company Overview
                    10.3.5.2. Product Portfolio
                    10.3.5.3. Financial Overview
                    10.3.5.4. Business Strategies and Development
            10.3.6. Air Liquide S.A.
                    10.3.6.1. Company Overview
                    10.3.6.2. Product Portfolio
                    10.3.6.3. Financial Overview
                    10.3.6.4. Business Strategies and Development
            10.3.7. Adani Green Energy
                    10.3.7.1. Company Overview
                    10.3.7.2. Product Portfolio
                    10.3.7.3. Financial Overview
                    10.3.7.4. Business Strategies and Development
            10.3.8. Linde Plc
                    10.3.8.1. Company Overview
                    10.3.8.2. Product Portfolio
                    10.3.8.3. Financial Overview
                    10.3.8.4. Business Strategies and Development
            10.3.9. Chevron Hydrogen Company LLC
                    10.3.9.1. Company Overview
                    10.3.9.2. Product Portfolio
                    10.3.9.3. Financial Overview
                    10.3.9.4. Business Strategies and Development
            10.3.10. Doosan Fuel Cells
                    10.3.10.1. Company Overview
                    10.3.10.2. Product Portfolio
                    10.3.10.3. Financial Overview
                    10.3.10.4. Business Strategies and Development
            10.3.11. CTP Hydrogen
                    10.3.11.1. Company Overview
                    10.3.11.2. Product Portfolio
                    10.3.11.3. Financial Overview
                    10.3.11.4. Business Strategies and Development

11. Appendix
     11.1. Research Methodology
     11.2. Report Assumptions
     11.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2021

 

2019 - 2022

2023 - 2030

Value: US$ Million Volume: Million Tons

 

REPORT FEATURES

DETAILS

Application Coverage

  • Refining
  • Ammonia
  • Methanol
  • Iron & Steel
  • Chemical
  • Transport
  • Others

Source Coverage

  • Grey Hydrogen (without CCS)
    • Natural Gas
    • Coal
    • Oil
  • Blue Hydrogen (With CCS)
  • Green Hydrogen

Generation Type Coverage

  • Merchant
  • By-product
  • Captive

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Netherlands
    • Poland
    • Spain
    • Italy
    • U.K.
    • Rest of EU
  • Asia Pacific
    • China
    • India
    • Japan
    • Indonesia
    • Rest of APAC
  • Middle East & Africa
    • Iran
    • Saudi Arabia
    • Egypt
    • Rest of MEA
  • Latin America
    • Brazil
    • Trinidad & Tobago
    • Rest of LA

Leading Companies

  • Air Liquide
  • Air Products
  • Royal Dutch Shell
  • Bloom Energy Corp.
  • CTP Hydrogen
  • Chevron Hydrogen Company LLC
  • Doosan Fuel Cell
  • Adani Green Energy
  • FuelCell Energy, Inc.
  • Linde Plc
  • Plug Power, Inc.

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, Historical Trend (2019-2021), Price Trend Analysis, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Hydrogen Market

The global hydrogen market value is expected to reach US$328 Bn by 2030-end.

The global top 5 players in hydrogen space include Royal Dutch Shell, Chevron Hydrogen Company LLC, Air Liquide, Air Products, and Doosan Fuel Cell.

In 2022, Asia Pacific constituted 40.5% of the global hydrogen market by volume. In terms of value, Europe is expected to register a CAGR of 8.7% from 2023-2030.

In terms of application, the refinery segment dominated the market and constituted 48% share in 2022. In terms of source, grey hydrogen segment constituted more than 90% share of the global hydrogen market in 2022. In terms of generation type, captive segment constituted more than 74% share of the global hydrogen market in 2022.

Due to the COVID-19 pandemic, sub-sectors, particularly refining, were strongly affected. Activity that was restrained due to the lockdowns and the general economic slowdown started to recover in 2021.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
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