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 |
|
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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
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- 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.
Hydrogen Market