Hydrogen Transition Outlook and Trends, Q1 2024

Hydrogen Transition Outlook and Trends, Q1 2024

Summary

The hydrogen market continues to gather momentum, with the total active and pipeline capacity of hydrogen projects now reaching 201 mtpa. Q4 2023 saw a resurgence in project activity with 142 ktpa of new capacity being announced across the quarter. However, other metrics such as hydrogen deal activity showed a decline compared to previous quarters.

Key Highlights

• In the 4th quarter of 2023, 3 countries announced new low carbon hydrogen plants. Germany was the chief contributor to capacity announced in this quarter. It also retained its position in the top 10 ranking of countries by active and upcoming hydrogen capacity.
• Canada still leads in terms of capacity by a large margin, with over 90 mtpa across 70 different hydrogen hubs. 10 projects are also already in operation. While Australia follows with 186 projects and almost 13 mtpa capacity.
• Like the previous quarter, the hydrogen deal count in Q4 2023 was lower than previously seen earlier in 2023 and demonstrated a percentage decrease of 58% compared to the previous year.

Scope

Hydrogen quarterly changes, Q4 2023.
Total upcoming capacity and 2030 market size scenarios, highlighting recently announced projects by capacity, countries and regions.
Trends over deals, partnerships, and M&A .
Global policy support and financial incentives.

Reasons to Buy

Identify the last market trends by quarter and key players in hydrogen technologies.
Develop market insight concerning current, in development and announced capacity and latest trends of the sector.
Understand the different scenarios for 2030 based on the likeliness of the projects.
Gain an understanding of how and where the market is growing as hydrogen rapidly scales, becoming a key topic on the international agenda.