Global Hydrogen Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Hydrogen Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Source (Green Hydrogen, Blue Hydrogen and Gray Hydrogen), Production Source (Natural Gas, Coal, Other Hydrocarbons, and Electrolysis & Other Sources), Application (Refineries, Ammonia, Methanol & other Chemicals, Metals & Fabrication, Electronics, Food & Beverages, Glass & Ceramics, and Others), Delivery Mode (Captive and Merchant), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Hydrogen Market was valued at USD 163,123.3 million in 2023 and is expected to reach USD 288,768.8 million by 2031 while growing at a CAGR of 7.4% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyse various driving and restraining factors that are expected to have a significant impact on the global hydrogen market growth. Hydrogen, symbolized as H with atomic number 1, is the lightest and most abundant element in the universe, making up about 75% of its mass. At room temperature, it exists as a colorless, odorless, and tasteless gas. Primarily found in stars and gas giant planets like Jupiter, hydrogen is both the simplest and most abundant element in the universe.
The hydrogen market is growing due to advances in production, storage, and transportation technologies, along with renewable energy integration. However, safety concerns and supply chain challenges may impede further expansion.
Furthermore, the global hydrogen market industry will be analysed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Source Analysis
The Global Hydrogen Market is segmented among Green Hydrogen, Blue Hydrogen and Gray Hydrogen, based on source. In 2023, Gray Hydrogen accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Production Source Analysis
The Global Hydrogen Market is segmented among Natural Gas, Coal, Other Hydrocarbons, and Electrolysis & Other Sources, based on production source. In 2023, Natural Gas accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Hydrogen Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Europe dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are ThyssenKrupp, Iwatani Corporation, Orsted A/S, Messer, Xebec Adsorption Inc., McPhy Energy S.A, Electrochaea GmbH, Ally Hi-Tech Co. Ltd, Iberdrola, L'Air Liquide S.A., Uniper SE, Nel ASA, ITM Power, Siemens AG, Cummins Inc. and Linde plc.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Hydrogen Market Dynamics
Drivers
Restraints
Opportunity
4. Global Hydrogen Market Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Hydrogen Market Segmentation, By Source
Global Hydrogen Market Share Analysis, By Source
Global Hydrogen Market Growth Analysis, By Source
Global Hydrogen Market Trends, By Source
o Green Hydrogen
o Blue Hydrogen
o Gray Hydrogen
6. Global Hydrogen Market Segmentation, By Production Source
Global Hydrogen Market Share Analysis, By Production Source
Global Hydrogen Market Growth Analysis, By Production Source
Global Hydrogen Market Trends, By Production Source
o Natural Gas
o Coal
o Other Hydrocarbons
o Electrolysis & Other Sources
7. Global Hydrogen Market Segmentation, By Application
Global Hydrogen Market Share Analysis, By Application
Global Hydrogen Market Growth Analysis, By Application
Global Hydrogen Market Trends, By Application
o Refineries
o Ammonia
o Methanol & other Chemicals
o Metals & Fabrication
o Electronics
o Food & Beverages
o Glass & Ceramics
o Others
8. Global Hydrogen Market Segmentation, By Delivery Mode
Global Hydrogen Market Share Analysis, By Delivery Mode
Global Hydrogen Market Growth Analysis, By Delivery Mode
Global Hydrogen Market Trends, By Delivery Mode
o Captive
o Merchant
9. Global Hydrogen Market Segmentation, By Region
Global Hydrogen Market Share Analysis, By Region
Global Hydrogen Market Growth Analysis, By Region
Global Hydrogen Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
10. Competitive Landscape
ThyssenKrupp*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Iwatani Corporation
Orsted A/S
Messer
Xebec Adsorption Inc.
McPhy Energy S.A
Electrochaea GmbH
Ally Hi-Tech Co. Ltd
Iberdrola
L'Air Liquide S.A.
Uniper SE
Nel ASA
ITM Power
Siemens AG
Cummins Inc.
Linde plc
*Similar analysis will be provided for each company listed above.
