Hyrdogen Transition Outlook and Trends Q4 2024

Hyrdogen Transition Outlook and Trends Q4 2024

Summary

Quarter 4 analysis of global hydrogen outlook and trends. 12 new hydrogen plants have been announced in Q3-2024. Those announced projects are split across 9 different countries in Q3-2024, with Australia announcing the largest project.

In Q3 2024, announced capacity showed a decrease from the previous quarter. However, it still showed growth from the previous year.

Hydrogen project activity often tends to slow down towards the end of the year. This is due to a multitude of factors but the primary one being due to fiscal year-end budgeting and planning. 79% of hydrogen capacity announced is in the feasibility stage, with North America being the dominant region for overall capacity, whilst Europe leads in terms of share of post-feasibility projects.

Key Highlights

• Nearly 175mtpa of capacity has been announced, with 79% in feasibility stage. While North America is the dominant region for overall capacity, Europe leads in terms of its share of post-feasibility stage projects. Where previously North America had dominated the rankings of the largest projects, recent announcements are reflecting increasing mega-project participation particularly from the MEA and APAC region.​ Approximately 2mtpa of low-carbon hydrogen was announced during Q3 2024, representing a marginal decline in growth from the previous quarter where over 2.2mtpa was announced.

Scope

• 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, social media analysis of hydrogen and map of country implemented and upcoming hydrogen policies, strategies and roadmaps.

Reasons to Buy

• 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.
• Facilitate the understanding on how and where the market is growing as it is rapidly scaling up to position as one of the main topics of the international and national agenda.