Global Industrial Hydrogen Market Growth 2024-2030
Industrial Hydrogen, valued at US$ 118.07 billion in 2023, is expected to reach US$ 136.33 billion by 2030, with a 2.1% CAGR driven by growing downstream demand.
According to Publisher’s latest study, the global Industrial Hydrogen market size was valued at US$ 118070 million in 2023. With the growing demand in the downstream market, Industrial Hydrogen is forecast to a readjusted size of US$ 136330 million by 2030 with a CAGR of 2.1% during the review period.
The research report highlights the growth potential of the global Industrial Hydrogen market. Industrial Hydrogen is expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Industrial Hydrogen. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Industrial Hydrogen market.
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Hydrogen (H2) is an odourless and tasteless gas that is mainly produced through natural gas steam reforming or the electrolysis of water. Lighter than air, it burns with an invisible, clean (carbon-free and soot-free) flame. It is the only fuel gas that does not contain any carbon atoms.
Key Features:
The report on the Industrial Hydrogen market reflects various aspects and provides valuable insights into the industry.
Market Size and Growth: The research report provides an overview of the current size and growth of the Industrial Hydrogen market. It may include historical data, market segmentation by Type (e.g., Captive Hydrogen, Merchant Hydrogen), and regional breakdowns.
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Manmayi Raval
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Market Drivers: Growing Demand from End-Use Industries: Hydrogen is essential for operations including hydrocracking, desulfurization, and ammonia synthesis in the petroleum refining, chemical manufacturing, and metallurgy industries. The need for industrial hydrogen is only growing as these industries grow.
Transition to Clean Energy Solutions: As environmental laws and sustainability objectives become more stringent, companies are looking more and more to hydrogen as a clean substitute for conventional fossil fuels. Because of its adaptability as a fuel and ability to reduce carbon emissions from industrial operations, hydrogen is a very attractive option for reducing emissions.
Technological Developments: The viability and economics of industrial hydrogen uses have improved due to developments in hydrogen generation, storage, and delivery technologies. Production costs are being reduced and efficiency is being increased by electrolysis, solid oxide electrolysis cells (SOECs), and steam methane reforming (SMR).
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Government Investments and Support: Governments everywhere are stepping up their efforts to highlight hydrogen as a vital component of the energy revolution and global economic expansion. The development of infrastructure, incentive programs, and significant R&D investments are creating a favourable atmosphere for the expansion of the industrial hydrogen industry.
Challenges- Cost of manufacturing: The high cost of manufacturing, particularly for low-carbon or green hydrogen produced through electrolysis, is one of the main obstacles preventing the widespread adoption of industrial hydrogen. Compared to traditional hydrogen generation techniques like steam methane reforming (SMR), green hydrogen is more expensive due to the capital-intensive nature of electrolyzers and the comparatively high cost of power in some areas.
Expanding Renewable Energy: The production of green hydrogen is dependent on renewable energy sources like solar and wind power. On the other hand, intermittent renewable energy sources make it difficult to produce hydrogen consistently and dependably. Increasing the capacity of renewable energy sources and putting grid balancing measures in place are necessary to provide a consistent and reasonably priced supply of green hydrogen.
Infrastructure Development: One of the main obstacles to the widespread use of industrial hydrogen is the absence of suitable infrastructure for the production, storage, and delivery of hydrogen. The construction of hydrogen infrastructure, such as refuelling stations, pipelines, and electrolyzer facilities, necessitates significant financial outlays and stakeholder cooperation.
Technological Readiness: Although electrolysis and other hydrogen generation technologies have made great strides in recent years, further study and development are still required to increase efficiency, lower prices, and improve reliability. In addition, there are technological issues that must be resolved before developing new technologies like solid oxide electrolysis cells (SOECs) and photoelectrochemical hydrogen production can be commercialized.
Technological Developments: The research report can delve into the latest technological developments in the Industrial Hydrogen industry. This includes advancements in Industrial Hydrogen technology, Industrial Hydrogen new entrants, Industrial Hydrogen new investment, and other innovations that are shaping the future of Industrial Hydrogen.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Industrial Hydrogen market. It includes factors influencing customers' purchasing decisions, and preferences for Industrial Hydrogen products.
Government Policies and Incentives: The research report analyses the impact of government policies and incentives on the Industrial Hydrogen market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting the Industrial Hydrogen market. The report also evaluates the effectiveness of these policies in driving market growth.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provides market forecasts and outlook for the Industrial Hydrogen industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report concludes with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Industrial Hydrogen market.
Market Segmentation:
The industrial Hydrogen market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
1. Segmentation by type
• Captive Hydrogen
• Merchant Hydrogen
2. Segmentation by application
• Oil Refining
• Ammonia Production
• Methanol Production
• Steel Production
• Others
Regional Insights- Asia-Pacific: Due to the region's strong industrial activity, especially in nations like China, Japan, and South Korea, the Asia-Pacific area is the leader in the global market for industrial hydrogen. Government programs to support clean energy and rapid industrialization are driving growing demand for hydrogen in several industries. America: When it comes to the use of hydrogen in sectors like transportation, chemicals, and refining, the US and Canada are leading the way. The area is well-positioned to be a major player in the global industrial hydrogen industry because of its plentiful natural gas supplies and continuous investments in hydrogen infrastructure. Europe: With its aggressive goals for carbon neutrality and renewable hydrogen production, Europe has emerged as a leader in the shift to a hydrogen-based economy. Investments in industrial hydrogen projects and infrastructure are being driven by the European Union's Hydrogen Strategy and efforts like the European Clean Hydrogen Alliance.
Asia-Pacific is the largest market, with a share of over 40%, followed by North America and Europe, both have a share of about 30% per cent. In terms of product, Captive Hydrogen is the largest segment, with a share of over 80%. In terms of application, the largest application is Oil Refining, followed by Ammonia Production & Methanol Production.
3. Americas
• United States
• Canada
• Mexico
• Brazil
4. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
5. Europe
• Germany
• France
• UK
• Italy
• Russia
6. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape: The research report provides an analysis of the competitive landscape within the Industrial Hydrogen market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market. Global Industrial Hydrogen key players include Linde Group, Air Liquide, Air Products, Air Water, Taiyo Nippon Sanso, etc. Global top five manufacturers hold a share of over 5%. The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Linde Group
• Air Liquide
• Air Products
• Air Water
• Taiyo Nippon Sanso
• Messer Group
• Yingde Gases
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Industrial Hydrogen Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Industrial Hydrogen by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Industrial Hydrogen by Country/Region, 2019, 2023 & 2030
2.2 Industrial Hydrogen Segment by Type
2.2.1 Captive Hydrogen
2.2.2 Merchant Hydrogen
2.3 Industrial Hydrogen Sales by Type
2.3.1 Global Industrial Hydrogen Sales Market Share by Type (2019-2024)
2.3.2 Global Industrial Hydrogen Revenue and Market Share by Type (2019-2024)
2.3.3 Global Industrial Hydrogen Sale Price by Type (2019-2024)
2.4 Industrial Hydrogen Segment by Application
2.4.1 Oil Refining
2.4.2 Ammonia Production
2.4.3 Methanol Production
2.4.4 Steel Production
2.4.5 Others
2.5 Industrial Hydrogen Sales by Application
2.5.1 Global Industrial Hydrogen Sale Market Share by Application (2019-2024)
2.5.2 Global Industrial Hydrogen Revenue and Market Share by Application (2019-2024)
2.5.3 Global Industrial Hydrogen Sale Price by Application (2019-2024)
3 Global Industrial Hydrogen by Company
3.1 Global Industrial Hydrogen Breakdown Data by Company
3.1.1 Global Industrial Hydrogen Annual Sales by Company (2019-2024)
3.1.2 Global Industrial Hydrogen Sales Market Share by Company (2019-2024)
3.2 Global Industrial Hydrogen Annual Revenue by Company (2019-2024)
3.2.1 Global Industrial Hydrogen Revenue by Company (2019-2024)
3.2.2 Global Industrial Hydrogen Revenue Market Share by Company (2019-2024)
3.3 Global Industrial Hydrogen Sale Price by Company
3.4 Key Manufacturers Industrial Hydrogen Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Industrial Hydrogen Product Location Distribution
List of Tables
Table 1. Industrial Hydrogen Annual Sales CAGR by Geographic Region (2019, 2023 & 2030) & ($ millions)
Table 2. Industrial Hydrogen Annual Sales CAGR by Country/Region (2019, 2023 & 2030) & ($ millions)
Table 3. Major Players of Captive Hydrogen
Table 4. Major Players of Merchant Hydrogen
Table 5. Global Industrial Hydrogen Sales by Type (2019-2024) & (K MT)
Table 6. Global Industrial Hydrogen Sales Market Share by Type (2019-2024)
Table 7. Global Industrial Hydrogen Revenue by Type (2019-2024) & ($ million)
Table 8. Global Industrial Hydrogen Revenue Market Share by Type (2019-2024)
Table 9. Global Industrial Hydrogen Sale Price by Type (2019-2024) & (US$/Ton)
Table 10. Global Industrial Hydrogen Sales by Application (2019-2024) & (K MT)
Table 11. Global Industrial Hydrogen Sales Market Share by Application (2019-2024)
Table 12. Global Industrial Hydrogen Revenue by Application (2019-2024)
Table 13. Global Industrial Hydrogen Revenue Market Share by Application (2019-2024)
Table 14. Global Industrial Hydrogen Sale Price by Application (2019-2024) & (US$/Ton)
Table 15. Global Industrial Hydrogen Sales by Company (2019-2024) & (K MT)
Table 16. Global Industrial Hydrogen Sales Market Share by Company (2019-2024)
Table 17. Global Industrial Hydrogen Revenue by Company (2019-2024) ($ Millions)
Table 18. Global Industrial Hydrogen Revenue Market Share by Company (2019-2024)
Table 19. Global Industrial Hydrogen Sale Price by Company (2019-2024) & (US$/Ton)
Table 20. Key Manufacturers Industrial Hydrogen Producing Area Distribution and Sales Area
Table 21. Players Industrial Hydrogen Products Offered
Table 22. Industrial Hydrogen Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
Table 23. New Products and Potential Entrants
Table 24. Mergers & Acquisitions, Expansion
Table 25. Global Industrial Hydrogen Sales by Geographic Region (2019-2024) & (K MT)
Table 26. Global Industrial Hydrogen Sales Market Share Geographic Region (2019-2024)
Table 27. Global Industrial Hydrogen Revenue by Geographic Region (2019-2024) & ($ millions)
Table 28. Global Industrial Hydrogen Revenue Market Share by Geographic Region (2019-2024)
Table 29. Global Industrial Hydrogen Sales by Country/Region (2019-2024) & (K MT)
Table 30. Global Industrial Hydrogen Sales Market Share by Country/Region (2019-2024)
Table 31. Global Industrial Hydrogen Revenue by Country/Region (2019-2024) & ($ millions)
Table 32. Global Industrial Hydrogen Revenue Market Share by Country/Region (2019-2024)
Table 33. Americas Industrial Hydrogen Sales by Country (2019-2024) & (K MT)
Table 34. Americas Industrial Hydrogen Sales Market Share by Country (2019-2024)
Table 35. Americas Industrial Hydrogen Revenue by Country (2019-2024) & ($ Millions)
Table 36. Americas Industrial Hydrogen Revenue Market Share by Country (2019-2024)
Table 37. Americas Industrial Hydrogen Sales by Type (2019-2024) & (K MT)
Table 38. Americas Industrial Hydrogen Sales by Application (2019-2024) & (K MT)
Table 39. APAC Industrial Hydrogen Sales by Region (2019-2024) & (K MT)
Table 40. APAC Industrial Hydrogen Sales Market Share by Region (2019-2024)
Table 41. APAC Industrial Hydrogen Revenue by Region (2019-2024) & ($ Millions)
Table 42. APAC Industrial Hydrogen Revenue Market Share by Region (2019-2024)
Table 43. APAC Industrial Hydrogen Sales by Type (2019-2024) & (K MT)
Table 44. APAC Industrial Hydrogen Sales by Application (2019-2024) & (K MT)
Table 45. Europe Industrial Hydrogen Sales by Country (2019-2024) & (K MT)
Table 46. Europe Industrial Hydrogen Sales Market Share by Country (2019-2024)
Table 47. Europe Industrial Hydrogen Revenue by Country (2019-2024) & ($ Millions)
Table 48. Europe Industrial Hydrogen Revenue Market Share by Country (2019-2024)
Table 49. Europe Industrial Hydrogen Sales by Type (2019-2024) & (K MT)
Table 50. Europe Industrial Hydrogen Sales by Application (2019-2024) & (K MT)
Table 51. Middle East & Africa Industrial Hydrogen Sales by Country (2019-2024) & (K MT)
Table 52. Middle East & Africa Industrial Hydrogen Sales Market Share by Country (2019-2024)
Table 53. Middle East & Africa Industrial Hydrogen Revenue by Country (2019-2024) & ($ Millions)
Table 54. Middle East & Africa Industrial Hydrogen Revenue Market Share by Country (2019-2024)
Table 55. Middle East & Africa Industrial Hydrogen Sales by Type (2019-2024) & (K MT)
Table 56. Middle East & Africa Industrial Hydrogen Sales by Application (2019-2024) & (K MT)
Table 57. Key Market Drivers & Growth Opportunities of Industrial Hydrogen
Table 58. Key Market Challenges & Risks of Industrial Hydrogen
Table 59. Key Industry Trends of Industrial Hydrogen
Table 60. Industrial Hydrogen Raw Material
Table 61. Key Suppliers of Raw Materials
Table 62. Industrial Hydrogen Distributors List
Table 63. Industrial Hydrogen Customer List
Table 64. Global Industrial Hydrogen Sales Forecast by Region (2025-2030) & (K MT)
Table 65. Global Industrial Hydrogen Revenue Forecast by Region (2025-2030) & ($ millions)
Table 66. Americas Industrial Hydrogen Sales Forecast by Country (2025-2030) & (K MT)
Table 67. Americas Industrial Hydrogen Revenue Forecast by Country (2025-2030) & ($ millions)
Table 68. APAC Industrial Hydrogen Sales Forecast by Region (2025-2030) & (K MT)
Table 69. APAC Industrial Hydrogen Revenue Forecast by Region (2025-2030) & ($ millions)
Table 70. Europe Industrial Hydrogen Sales Forecast by Country (2025-2030) & (K MT)
Table 71. Europe Industrial Hydrogen Revenue Forecast by Country (2025-2030) & ($ millions)
Table 72. Middle East & Africa Industrial Hydrogen Sales Forecast by Country (2025-2030) & (K MT)
Table 73. Middle East & Africa Industrial Hydrogen Revenue Forecast by Country (2025-2030) & ($ millions)
Table 74. Global Industrial Hydrogen Sales Forecast by Type (2025-2030) & (K MT)
Table 75. Global Industrial Hydrogen Revenue Forecast by Type (2025-2030) & ($ Millions)
Table 76. Global Industrial Hydrogen Sales Forecast by Application (2025-2030) & (K MT)
Table 77. Global Industrial Hydrogen Revenue Forecast by Application (2025-2030) & ($ Millions)
Table 78. Linde Group Basic Information, Industrial Hydrogen Manufacturing Base, Sales Area and Its Competitors
Table 79. Linde Group Industrial Hydrogen Product Portfolios and Specifications
Table 80. Linde Group Industrial Hydrogen Sales (K MT), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2019-2024)
Table 81. Linde Group Main Business
Table 82. Linde Group Latest Developments
Table 83. Air Liquide Basic Information, Industrial Hydrogen Manufacturing Base, Sales Area and Its Competitors
Table 84. Air Liquide Industrial Hydrogen Product Portfolios and Specifications
Table 85. Air Liquide Industrial Hydrogen Sales (K MT), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2019-2024)
Table 86. Air Liquide Main Business
Table 87. Air Liquide Latest Developments
Table 88. Air Products Basic Information, Industrial Hydrogen Manufacturing Base, Sales Area and Its Competitors
Table 89. Air Products Industrial Hydrogen Product Portfolios and Specifications
Table 90. Air Products Industrial Hydrogen Sales (K MT), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2019-2024)
Table 91. Air Products Main Business
Table 92. Air Products Latest Developments
Table 93. Air Water Basic Information, Industrial Hydrogen Manufacturing Base, Sales Area and Its Competitors
Table 94. Air Water Industrial Hydrogen Product Portfolios and Specifications
Table 95. Air Water Industrial Hydrogen Sales (K MT), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2019-2024)
Table 96. Air Water Main Business
Table 97. Air Water Latest Developments
Table 98. Taiyo Nippon Sanso Basic Information, Industrial Hydrogen Manufacturing Base, Sales Area and Its Competitors
Table 99. Taiyo Nippon Sanso Industrial Hydrogen Product Portfolios and Specifications
Table 100. Taiyo Nippon Sanso Industrial Hydrogen Sales (K MT), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2019-2024)
Table 101. Taiyo Nippon Sanso Main Business
Table 102. Taiyo Nippon Sanso Latest Developments
Table 103. Messer Group Basic Information, Industrial Hydrogen Manufacturing Base, Sales Area and Its Competitors
Table 104. Messer Group Industrial Hydrogen Product Portfolios and Specifications
Table 105. Messer Group Industrial Hydrogen Sales (K MT), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2019-2024)
Table 106. Messer Group Main Business
Table 107. Messer Group Latest Developments
Table 108. Yingde Gases Basic Information, Industrial Hydrogen Manufacturing Base, Sales Area and Its Competitors
Table 109. Yingde Gases Industrial Hydrogen Product Portfolios and Specifications
Table 110. Yingde Gases Industrial Hydrogen Sales (K MT), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2019-2024)
Table 111. Yingde Gases Main Business
Table 112. Yingde Gases Latest Developments
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