Clean Hydrogen Market Forecasts to 2030 – Global Analysis By Type (Grey Hydrogen, Blue Hydrogen, Green Hydrogen, Turquoise Hydrogen, Brown Hydrogen, Pink Hydrogen and Other Types), Method, Storage, Application, End User and By Geography

Clean Hydrogen Market Forecasts to 2030 – Global Analysis By Type (Grey Hydrogen, Blue Hydrogen, Green Hydrogen, Turquoise Hydrogen, Brown Hydrogen, Pink Hydrogen and Other Types), Method, Storage, Application, End User and By Geography

According to Stratistics MRC, the Global Clean Hydrogen Market is accounted for $2.4 billion in 2024 and is expected to reach $7.7 billion by 2030 growing at a CAGR of 21.3% during the forecast period. Clean hydrogen, often termed green hydrogen, is hydrogen produced with minimal environmental impact, primarily through renewable energy sources such as solar, wind, or hydro power. The production process, typically via electrolysis, splits water into hydrogen and oxygen without emitting greenhouse gases. This sustainable approach contrasts with traditional hydrogen production, which relies on fossil fuels and generates significant carbon emissions. Clean hydrogen is pivotal for achieving decarbonization in various sectors, including transportation, industry, and energy storage, contributing to a sustainable and low-carbon future.

According to the World Bank, the demand for hydrogen reached an estimated 87 million metric tons (MT) in 2020 and is expected to grow to 500–680 million MT by 2050. From 2020 to 2021, the hydrogen production market was valued at $130 billion and was estimated to grow up to 9.2% per year through 2030.

Market Dynamics:

Driver:

Climate change concerns and regulations

Climate change concerns and stringent regulations are significantly shaping the market. Governments worldwide are implementing policies to reduce carbon emissions, promoting the transition to cleaner energy sources. This regulatory push, coupled with growing environmental awareness, is driving investments in hydrogen production technologies that minimize greenhouse gas emissions. As a result, the market is expanding rapidly, with a focus on sustainable production methods to meet regulatory standards and mitigate climate change impacts.

Restraint:

Lack of infrastructure

The market faces significant challenges due to a lack of infrastructure. Current infrastructure for production, storage, and distribution is inadequate, hindering large-scale adoption. Developing pipelines, refueling stations, and storage facilities requires substantial investment and technological advancements. Without robust infrastructure, the clean hydrogen market struggles to compete with established energy sources, impeding progress toward widespread use and the transition to a low-carbon economy.

Opportunity:

Versatility of clean hydrogen

Clean hydrogen is a versatile energy carrier in the clean hydrogen market, offering a sustainable alternative to fossil fuels. It can be utilized across various sectors, including transportation, industry, and power generation. Hydrogen fuel cells power vehicles with zero emissions, while industrial processes benefit from its use as a feedstock or reducing agent. Additionally, hydrogen can be stored and converted back into electricity, supporting renewable energy integration and enhancing grid stability.

Threat:

Competition from battery technology

As battery efficiency and energy storage capabilities improve, they increasingly serve as viable alternatives to hydrogen for renewable energy storage and electric transportation. This competition challenges hydrogen's market share, particularly in sectors where batteries offer cost-effective and scalable solutions. The ongoing innovation in battery technology, driven by the demand for electric vehicles and renewable energy integration, poses a notable challenge to the widespread adoption of clean hydrogen.

Covid-19 Impact:

The COVID-19 pandemic disrupted the clean hydrogen market, causing delays in project development and supply chain challenges. However, it also heightened awareness of the need for resilient and sustainable energy systems, leading to increased government support and investments in clean hydrogen technologies. Recovery efforts and green stimulus packages have accelerated the adoption of hydrogen as a key component in the transition to low-carbon energy, positioning it as a critical element for future energy security and climate goals.

The blue hydrogen segment is expected to be the largest during the forecast period

The blue hydrogen is expected to be the largest during the forecast period. It is viewed as a transitional solution to bridge the gap between fossil fuels and green hydrogen. By capturing and storing carbon emissions, blue hydrogen reduces the environmental impact of hydrogen production, aiding in the reduction of greenhouse gases. Its adoption is driven by the need for scalable and cost-effective hydrogen solutions as the industry advances toward a sustainable energy future.

The transportation segment is expected to have the highest CAGR during the forecast period

The transportation segment is expected to have the highest CAGR during the forecast period. Hydrogen-powered vehicles offer zero-emission mobility, addressing environmental concerns and reducing reliance on fossil fuels. With advancements in hydrogen fuel cell technology, vehicles can achieve long ranges and quick refueling times, making them viable options for various transportation needs. Moreover, the growing infrastructure for hydrogen refueling stations is supporting the expansion of this market.

Region with largest share:

North America is projected to hold the largest market share during the forecast period driven by increasing investment in renewable energy and decarbonization initiatives. Government incentives and ambitious climate goals are fostering a favorable environment for hydrogen technologies. Key players are innovating in electrolysis, fuel cells, and hydrogen infrastructure. Partnerships between industry and government are accelerating research and development, aiming to scale up production and drive down costs.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. The region has abundant renewable energy resources, such as solar and wind power, which can be used to produce clean hydrogen through electrolysis. Collaboration between countries and companies is driving innovation and investment in the clean hydrogen sector. Investments are being made in hydrogen infrastructure, such as refueling stations and pipelines, to support the growth of the market.

Key players in the market

Some of the key players in Clean Hydrogen market include Air Liquide, Linde plc, Nel ASA, Plug Power Inc., Ballard Power System, Siemens Energy, Toshiba Energy Systems & Solutions Corporation, Air Products and Chemicals, Inc., Shell Hydrogen, TotalEnergies, Iwatani Corporation, Mitsubishi Heavy Industries, Uniper SE, Hexagon Purus, Ceres Power and Cummins Inc.

Key Developments:

In April 2023, Cummins Inc, has entered into a def initive agreement with Tata Motors Ltd to manufacture a range of low-to-zero-emissions technology products in India. The two companies have established a new business entity, TCPL Green Energy Solutions Private Ltd (GES), a wholly-owned subsidiary under the existing joint venture, Tata Cummins Private Limited (TCPL) in India.

In March 2023, Siemens Energy, in a consortium with FATA, part of the Danieli group, has secured a contract worth approximately €1bn ($1.07bn) from the Italian transmission system operator (TSO) Terna, to supply four converter stations for the Tyrrhenian Link project in Italy.

Types Covered:
• Grey Hydrogen
• Blue Hydrogen
• Green Hydrogen
• Turquoise Hydrogen
• Brown Hydrogen
• Pink Hydrogen
• Other Types

Methods Covered:
• Electrolysis
• Carbon Capture

Storages Covered:
• Compressed
• Liquid
• Chemical
• Pipelines

Applications Covered:
• Aviation and Marine
• Chemical Production
• Stationary Power
• Hydrogen Storage Systems
• Portable Fuel Cells
• Other Applications

End Users Covered:
• Transportation
• Power Generation
• Industrial
• Residential
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements