Hydrogen Transition Outlook and Trends Q1 2025
Summary
Q4 2024 saw 915ktpa of new announced capacity across 21 projects. However, the capacity outlook is still demonstrating a slightly negative trend due to project stalls and cancellations, highlighting both the challenges and opportunities of the current low-carbon hydrogen market
In Q4 2024, new project announcements totalled approximately 900ktpa of added capacity across 21 projects. This represented an increase from the previous quarter, where 690ktpa of capacity was announced across 12 projects. However, announcements from Q4 2024 still underwent a deceleration from the rate of announcements seen in the first half of 2024. Q2 2024 remains the best performing quarter in terms of capacity additions, with 2.2mtpa of capacity being announced across 14 projects
Key Highlights
- To date, the total active and pipeline capacity of low-carbon hydrogen reaches approximately 175mtpa, of which approximately 90% and 10% is from green and blue plants, respectively.
- Cumulative hydrogen production capacity continues to be dominated by early-stage projects, with just under 1.9mtpa of capacity having reached completion by the end of Q4 2024.
- In Q4 2024, new project announcements totalled approximately 900ktpa of added capacity across 21 projects. This represented an increase from the previous quarter, where 690ktpa of capacity was announced across 12 projects.
- There was a small decrease in deal activity in terms of total deal volume between Q3 2024 and Q4 2024, with deals decreasing from 37 to 32 across the two quarters.
- Global hydrogen outlook and trends. Breakdown of hydrogen capacity by stage of development, top capacities per country, top companies with hydrogen capacity, location and scale of largest upcoming low-carbon hydrogen projects and key players, outlook of hydrogen deal trends and global map of implemented and upcoming hydrogen policies, strategies and roadmaps.
- Identify the market trends within the region and key players in hydrogen technologies.
- Develop market insight of current, in development and announced capacity and latest trends of the sector.
- Understand the region's different scenarios for 2030 based on the likeliness of the projects.
- Understand how and where the market is growing as it is rapidly scales to become a key technology for the global energy transition
- Overview
- Quarterly snapshot
- Low-Carbon Hydrogen Capacity Outlook
- Active and upcoming capacity
- Breakdown of capacity by project scale
- Major upcoming projects
- Project announcements from Q4 2024
- Map of top 10 upcoming projects
- Hydrogen capacity scenarios to 2030
- Leading countries by capacity
- Top participant companies
- Deal Activity
- Quarterly deal trends
- Deal geography
- M&A
- Capital raisings
- Key Policy Developments
- Hydrogen policy map
- Recent policy developments
- List of Tables
- Major upcoming low-carbon hydrogen projects
- Largest project announcements in Q4 2024
- M&A activity in Q4 2024
- Capital raising activity in Q4 2024
- Recent key policy developments
- List of Figures
- Quarterly snapshot
- Active and announced capacity
- Regional breakdown of upcoming capacity
- Project count by capacity band based on active and announced projects
- Breakdown of total active and upcoming hydrogen capacity by project scale
- Top 10 upcoming low-carbon hydrogen plants map
- Capacity scenarios to 2030
- Countries with the highest cumulative upcoming capacity
- Companies net capacity share
- Hydrogen deal trends
- Distribution of hydrogen deal volume by country in Q4 2024
- Distribution of deals related to hydrogen in Q4 2024 based on deal value
- National hydrogen strategies, plans, and roadmaps
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