The Global Hydrogen Market 2025-2035

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  • Published: March 2025
  • Pages: 491
  • Tables: 144
  • Figures: 124
  • Companies profiled: 285

 

The global hydrogen market stands at a pivotal moment in its evolution, transitioning from its traditional industrial applications to becoming a cornerstone of the global energy transition. Currently valued at approximately $200 billion, the market has historically been dominated by "gray hydrogen" produced from natural gas without carbon capture, primarily serving ammonia production, petroleum refining, and chemical manufacturing. The market is undergoing a fundamental transformation driven by decarbonization imperatives. Green hydrogen (produced via renewable-powered electrolysis) and blue hydrogen (produced from natural gas with carbon capture) are gaining momentum as countries and corporations commit to net-zero targets. This shift is supported by plummeting costs of renewable electricity, technological advancements in electrolyzers, and expanding policy support worldwide.

Key regions leading hydrogen development include the European Union, which has committed to installing 40GW of electrolyzer capacity by 2030 as part of its Hydrogen Strategy. Similarly, Japan, South Korea, and China have established ambitious hydrogen roadmaps focusing on both domestic production and international supply chains. The United States has accelerated its hydrogen ambitions through significant investments in the Bipartisan Infrastructure Law and Inflation Reduction Act, establishing hydrogen hubs across the country.

The transportation sector represents one of hydrogen's most promising applications, particularly for heavy-duty vehicles, shipping, and aviation where battery electrification faces challenges. Major automotive manufacturers are investing in fuel cell vehicles, while hydrogen fueling infrastructure continues to expand globally, albeit from a small base. In the industrial sector, steel production is pioneering hydrogen use as a reduction agent to replace coal, with several demonstration projects already operational in Europe. Energy storage presents another significant opportunity, with hydrogen serving as a means to store excess renewable electricity over extended periods, addressing intermittency challenges. Additionally, hydrogen blending into existing natural gas networks is being tested as a transitional decarbonization strategy.

Despite this progress, the market faces substantial challenges. Production costs for green hydrogen remain higher than fossil alternatives, though the gap is narrowing. Infrastructure for transportation and storage requires massive investment, while regulatory frameworks are still evolving. Safety concerns and public perception issues also need addressing through standardization and education. The market outlook appears increasingly favorable. Projections suggest hydrogen could meet up to 24% of global energy demand by 2050, with the market potentially reaching $700 billion by 2040. Costs for green hydrogen are expected to decrease by 60-80% by 2030, achieving cost parity with gray hydrogen in many regions. Annual production could grow from approximately 90 million tonnes today to 500-700 million tonnes by 2050.

Investment trends confirm this optimistic outlook, with over $300 billion in hydrogen projects announced globally by 2024, though many remain in planning stages. The coming decade will be critical as the industry moves from pilot projects to commercial scale, requiring continued policy support, technological innovation, and cross-sector collaboration.

The Global Hydrogen Market 2025-2035  provides an in-depth analysis of the hydrogen market landscape from 2025-2035, covering all aspects of the hydrogen value chain, emerging technologies, competitive dynamics, and regional market developments.

Report contents include: 

  • Market Overview and Dynamics
    • Detailed classification of hydrogen types: green, blue, pink, turquoise, and gray hydrogen by production method and carbon intensity
    • Deep analysis of national hydrogen initiatives across major regions including the European Union, United States, Japan, China, and emerging markets
    • Critical examination of market challenges including infrastructure needs, regulatory frameworks, and cost competitiveness
  • Hydrogen Production Technologies
    • Comprehensive technology breakdown of electrolysis methods including PEM, alkaline, solid oxide, and AEM technologies
    • Detailed assessment of blue hydrogen production including SMR, ATR, and emerging pyrolysis methods
    • Analysis of carbon capture technologies including pre-combustion, post-combustion, and direct air capture methods
    • Evaluation of nuclear-powered hydrogen production (pink hydrogen) and its role in the energy transition
    • Emerging production methods including plasma technologies, photosynthesis, bacterial processes, and biomimicry approaches
  • Storage and Transportation
    • Market analysis of compression, liquefaction, and alternative carrier technologies
    • Pipeline infrastructure development projections and investment forecasts
    • Road, rail, and maritime transport solutions and technological advancements
    • Underground storage potential and regional capacity assessment
    • Comprehensive evaluation of material innovations for hydrogen-compatible infrastructure
  • Hydrogen Utilization and Applications
    • Fuel cell market dynamics across transportation, stationary power, and portable applications
    • Hydrogen mobility adoption forecasts for light vehicles, heavy-duty transportation, marine applications, and aviation
    • Industrial decarbonization pathways focusing on steel production, ammonia synthesis, and methanol manufacturing
    • Power generation applications including turbines, combined cycle systems, and grid balancing capabilities
    • Synthetic fuel production analysis including e-fuels, methanol, and sustainable aviation fuels
  • Regional Market Analysis
    • United States hydrogen market with detailed assessment of DOE hydrogen hubs and regional production capacity
    • European Union developments including the European Hydrogen Strategy and national roadmaps
    • Asia-Pacific market expansion focusing on China, Japan, South Korea, and Australia
    • Middle East and North Africa emerging as major green hydrogen export regions
    • Latin America and Africa developing hydrogen potential through renewable resources
  • Competitive Landscape
    • Comprehensive profiles of over 280 companies across the hydrogen value chain. Companies Profiled include 8Rivers, Adani Green Energy, Advanced Ionics, ACSYNAM, Advent Technologies, Aemetis, AFC Energy, Agfa-Gevaert, Air Liquide, Air Products, Aker Horizons, Alchemr, AlGalCo, AMBARtec, Amogy, Aepnus, Arcadia eFuels, Asahi Kasei, Atawey, Atmonia, Atomis, Aurora Hydrogen, AquaHydrex, AREVA H2Gen, Avantium, AvCarb Material Solutions, Avium, Ballard Power Systems, BASF, Battolyser Systems, BayoTech, Blastr Green Steel, Bloom Energy, Boson Energy, BP, Bramble Energy, Brineworks, bse Methanol, Bspkl, Carbon Engineering, Carbon Recycling International, Carbon Sink, Cavendish Renewable Technology, Celcibus, Cemvita Factory, Ceres Power Holdings, Chevron Corporation, CHARBONE Hydrogen, Chiyoda Corporation, Cipher Neutron, Climate Horizon, CO₂ Capsol, Cockerill Jingli Hydrogen, Constellation Energy, Convion, Croft, Cummins, Cutting-Edge Nanomaterials, Cryomotive, C-Zero, Deep Branch Biotechnology, Destinus, Dimensional Energy, Dioxide Materials, Domsjö Fabriker, Dynelectro, Elcogen, Ecolectro, EH Group Engineering, Electric Hydrogen, Electriq Global, Electrochaea, Elogen H2, ENEOS Corporation, Ekona Power, Element 1 Corp, Endua, Enapter, Epro Advance Technology, Equatic, Erredue, Ergosup, Everfuel, EvolOH, Evolve Hydrogen, Evonik Industries, Fabrum, FirstElement Fuel, Flexens, FuelCell Energy, FuelPositive, FuMA-Tech BWY, Fusion Fuel, GenCell Energy, Graforce, GenHydro, GenH2, GeoPura, GKN Hydrogen, Green Fuel, Green Hydrogen Systems, GRZ Technologies, Hazer Group, Heimdal CCU, Heliogen, Hexagon Purus, HevenDrones, HiiROC, Hitachi Zosen, H2B2 Electrolysis Technologies, H2Electro, H2GO Power, H2Greem, H2 Green Steel, H2Pro, H2U Technologies, H2Vector Energy Technologies, H2X Global, Hoeller Electrolyzer, Honda, Honeywell UOP, Horisont Energi, Horizon Fuel Cell Technologies, H Quest Vanguard, H-Tec Systems, Hybitat, HYBRIT, Hycamite TCD Technologies, Hygenco, Hymeth, Hynamics, HydGene Renewables, Hydra Energy, Hydrogen in Motion, Hydrogenious Technologies, HydrogenPro, Hydrogenera, HydroLite, Hyundai Motor Company, HySiLabs, Hynertech, Hysata, Hystar, Hyzon Motors, IdunnH2, Immaterial, Inergio Technologies, Infinium Electrofuels, Inpex, Innova Hydrogen, Ionomr Innovations, ITM Power, Johnson Matthey, Jolt Electrodes, Kawasaki Heavy Industries, Keyou, Kobelco, Koloma, Krajete, Kyros Hydrogen Solutions, Lavo, Leidong Zhichuang, Levidian Nanosystems, Lhyfe, The Linde Group, Lingniu Hydrogen Energy Technology, Liquid Wind, LONGi Hydrogen and more....
    • Strategic initiatives and development roadmaps of key market players
    • Investment analysis of major funding rounds, mergers, acquisitions, and joint ventures
    • Technological positioning and intellectual property landscape
    • Start-up ecosystem evaluation and innovation hotspots
  • Investment Analysis and Future Outlook
    • Capital expenditure forecasts across production, infrastructure, and end-use applications
    • Levelized cost projections for different hydrogen production pathways through 2035
    • Policy and incentive analysis across major markets and influence on investment decisions
    • Risk assessment for hydrogen projects including regulatory, technological, and market risks
    • Long-term market scenarios under different energy transition pathways and climate policies

 

Why This Report Matters

This essential market intelligence resource provides stakeholders across the energy, industrial, transportation, and investment sectors with the data-driven insights needed to navigate the rapidly evolving hydrogen economy. From project developers and technology providers to policymakers and financial institutions, this report delivers critical analysis to support strategic decision-making in one of the 21st century's most transformative energy markets.

 

1             INTRODUCTION          24

  • 1.1        Hydrogen classification          24
  • 1.2        Global energy demand and consumption  24
  • 1.3        The hydrogen economy and production       25
  • 1.4        Removing CO₂ emissions from hydrogen production          27
  • 1.5        Hydrogen value chain              27
    • 1.5.1    Production       27
    • 1.5.2    Transport and storage              28
    • 1.5.3    Utilization         28
  • 1.6        National hydrogen initiatives               30
  • 1.7        Market challenges      31

 

2             HYDROGEN MARKET ANALYSIS         32

  • 2.1        Industry developments 2020-2025 32
  • 2.2        Market map    45
  • 2.3        Global hydrogen production 47
    • 2.3.1    Industrial applications            48
    • 2.3.2    Hydrogen energy          49
      • 2.3.2.1 Stationary use               49
      • 2.3.2.2 Hydrogen for mobility               49
    • 2.3.3    Current Annual H2 Production           50
    • 2.3.4    Hydrogen production processes       51
      • 2.3.4.1 Hydrogen as by-product         51
      • 2.3.4.2 Reforming        52
        • 2.3.4.2.1           SMR wet method         52
        • 2.3.4.2.2           Oxidation of petroleum fractions     52
        • 2.3.4.2.3           Coal gasification         52
      • 2.3.4.3 Reforming or coal gasification with CO2 capture and storage      52
      • 2.3.4.4 Steam reforming of biomethane       52
      • 2.3.4.5 Water electrolysis       53
      • 2.3.4.6 The "Power-to-Gas" concept                54
      • 2.3.4.7 Fuel cell stack               56
      • 2.3.4.8 Electrolysers   57
      • 2.3.4.9 Other   58
        • 2.3.4.9.1           Plasma technologies 58
        • 2.3.4.9.2           Photosynthesis            59
        • 2.3.4.9.3           Bacterial or biological processes     59
        • 2.3.4.9.4           Oxidation (biomimicry)           60
    • 2.3.5    Production costs         61
    • 2.3.6    Global hydrogen demand forecasts               62
    • 2.3.7    Hydrogen Production in the United States  63
      • 2.3.7.1 Gulf Coast       63
      • 2.3.7.2 California         64
      • 2.3.7.3 Midwest             64
      • 2.3.7.4 Northeast         64
      • 2.3.7.5 Northwest        64
    • 2.3.8    DOE Hydrogen Hubs 65
    • 2.3.9    US Hydrogen Electrolyzer Capacities, Planned and Installed        66

 

3             TYPES OF HYDROGEN             69

  • 3.1        Comparative analysis              69
  • 3.2        Green hydrogen            69
    • 3.2.1    Overview           69
    • 3.2.2    Role in energy transition         69
    • 3.2.3    SWOT analysis              70
    • 3.2.4    Electrolyzer technologies      71
      • 3.2.4.1 Introduction    71
      • 3.2.4.2 Main types       72
      • 3.2.4.3 Balance of Plant          73
      • 3.2.4.4 Characteristics             75
      • 3.2.4.5 Advantages and disadvantages        77
      • 3.2.4.6 Electrolyzer market    77
        • 3.2.4.6.1           Market trends 77
        • 3.2.4.6.2           Market landscape       78
        • 3.2.4.6.3           Innovations     79
        • 3.2.4.6.4           Cost challenges           80
        • 3.2.4.6.5           Scale-up            80
        • 3.2.4.6.6           Manufacturing challenges    81
        • 3.2.4.6.7           Market opportunity and outlook        82
      • 3.2.4.7 Alkaline water electrolyzers (AWE)  82
        • 3.2.4.7.1           Technology description           82
        • 3.2.4.7.2           AWE plant        84
        • 3.2.4.7.3           Components and materials 85
        • 3.2.4.7.4           Costs  86
        • 3.2.4.7.5           Companies     86
      • 3.2.4.8 Anion exchange membrane electrolyzers (AEMEL)               87
        • 3.2.4.8.1           Technology description           87
        • 3.2.4.8.2           AEMEL plant   88
        • 3.2.4.8.3           Components and materials 89
        • 3.2.4.8.4           Costs  93
        • 3.2.4.8.5           Companies     94
      • 3.2.4.9 Proton exchange membrane electrolyzers (PEMEL)             94
        • 3.2.4.9.1           Technology description           94
        • 3.2.4.9.2           PEMEL plant   96
        • 3.2.4.9.3           Components and materials 97
        • 3.2.4.9.4           Costs  101
        • 3.2.4.9.5           Companies     101
      • 3.2.4.10            Solid oxide water electrolyzers (SOEC)         102
        • 3.2.4.10.1        Technology description           102
        • 3.2.4.10.2        SOEC plant     104
        • 3.2.4.10.3        Components and materials 105
      • 3.2.4.11            Other types     110
        • 3.2.4.11.1        Overview           110
        • 3.2.4.11.2        CO₂ electrolysis            111
        • 3.2.4.11.3        Seawater electrolysis               118
      • 3.2.4.12            Companies     122
    • 3.2.5    Costs  123
    • 3.2.6    Water and land use for green hydrogen production              126
    • 3.2.7    Electrolyzer manufacturing capacities         127
  • 3.3        Blue hydrogen (low-carbon hydrogen)          131
    • 3.3.1    Overview           131
    • 3.3.2    Advantages over green hydrogen      131
    • 3.3.3    SWOT analysis              131
    • 3.3.4    Production technologies        132
      • 3.3.4.1 Steam-methane reforming (SMR)    132
      • 3.3.4.2 Autothermal reforming (ATR)               133
      • 3.3.4.3 Partial oxidation (POX)             134
      • 3.3.4.4 Sorption Enhanced Steam Methane Reforming (SE-SMR)               135
      • 3.3.4.5 Methane pyrolysis (Turquoise hydrogen)     136
      • 3.3.4.6 Coal gasification         137
      • 3.3.4.7 Advanced autothermal gasification (AATG)               140
      • 3.3.4.8 Biomass processes   140
      • 3.3.4.9 Microwave technologies         143
      • 3.3.4.10            Dry reforming 143
      • 3.3.4.11            Plasma Reforming      143
      • 3.3.4.12            Solar SMR        143
      • 3.3.4.13            Tri-Reforming of Methane      143
      • 3.3.4.14            Membrane-assisted reforming           144
      • 3.3.4.15            Catalytic partial oxidation (CPOX)    144
      • 3.3.4.16            Chemical looping combustion (CLC)            144
    • 3.3.5    Carbon capture            144
      • 3.3.5.1 Pre-Combustion vs. Post-Combustion carbon capture     144
      • 3.3.5.2 What is CCUS?             145
        • 3.3.5.2.1           Carbon Capture           151
      • 3.3.5.3 Carbon Utilization      155
        • 3.3.5.3.1           CO2 utilization pathways       156
      • 3.3.5.4 Carbon storage            156
      • 3.3.5.5 Transporting CO2        157
        • 3.3.5.5.1           Methods of CO2 transport    157
      • 3.3.5.6 Costs  160
      • 3.3.5.7 Market map    162
      • 3.3.5.8 Point-source carbon capture for blue hydrogen     164
        • 3.3.5.8.1           Transportation              165
        • 3.3.5.8.2           Global point source CO2 capture capacities           165
        • 3.3.5.8.3           By source          167
        • 3.3.5.8.4           By endpoint     168
        • 3.3.5.8.5           Main carbon capture processes        168
      • 3.3.5.9 Carbon utilization       174
        • 3.3.5.9.1           Benefits of carbon utilization              178
        • 3.3.5.9.2           Market challenges      179
        • 3.3.5.9.3           Co2 utilization pathways        180
        • 3.3.5.9.4           Conversion processes             182
    • 3.3.6    Market players               195
  • 3.4        Pink hydrogen                196
    • 3.4.1    Overview           196
    • 3.4.2    Production       196
    • 3.4.3    Applications   197
    • 3.4.4    SWOT analysis              197
    • 3.4.5    Market players               198
  • 3.5        Turquoise hydrogen   199
    • 3.5.1    Overview           199
    • 3.5.2    Production       199
    • 3.5.3    Applications   199
    • 3.5.4    SWOT analysis              200
    • 3.5.5    Market players               201

 

4             HYDROGEN STORAGE AND TRANSPORT    202

  • 4.1        Market overview           202
  • 4.2        Hydrogen transport methods              203
    • 4.2.1    Pipeline transportation           203
    • 4.2.2    Road or rail transport                203
    • 4.2.3    Maritime transportation         204
    • 4.2.4    On-board-vehicle transport 204
  • 4.3        Hydrogen compression, liquefaction, storage         204
    • 4.3.1    Solid storage  205
    • 4.3.2    Liquid storage on support      205
    • 4.3.3    Underground storage               205
  • 4.4        Market players               205

 

5             HYDROGEN UTILIZATION      208

  • 5.1        Hydrogen Fuel Cells  208
    • 5.1.1    Market overview           208
    • 5.1.2    PEM fuel cells (PEMFCs)        208
    • 5.1.3    Solid oxide fuel cells (SOFCs)             209
    • 5.1.4    Alternative fuel cells  209
  • 5.2        Alternative fuel production   210
    • 5.2.1    Solid Biofuels 210
    • 5.2.2    Liquid Biofuels              210
    • 5.2.3    Gaseous Biofuels       211
    • 5.2.4    Conventional Biofuels             211
    • 5.2.5    Advanced Biofuels     211
    • 5.2.6    Feedstocks      212
    • 5.2.7    Production of biodiesel and other biofuels 214
    • 5.2.8    Renewable diesel        214
    • 5.2.9    Biojet and sustainable aviation fuel (SAF)   215
    • 5.2.10 Electrofuels (E-fuels, power-to-gas/liquids/fuels) 218
      • 5.2.10.1            Hydrogen electrolysis               221
      • 5.2.10.2            eFuel production facilities, current and planned   223
  • 5.3        Hydrogen Vehicles      227
    • 5.3.1    Market overview           227
    • 5.3.2    Commercialization    228
    • 5.3.3    Hydrogen Storage Options    230
    • 5.3.4    Key Challenges and Opportunities  230
  • 5.4        Aviation              230
    • 5.4.1    Market overview           230
    • 5.4.2    Applications   231
    • 5.4.3    Hydrogen Technology Approaches in Aviation         232
    • 5.4.4    Hydrogen Storage Options    233
    • 5.4.5    Key Projects and Timelines   233
    • 5.4.6    Market and Adoption Forecasts         234
  • 5.5        Ammonia production               235
    • 5.5.1    Introduction    235
    • 5.5.2    Decarbonisation of ammonia production  238
    • 5.5.3    Green ammonia synthesis methods              239
      • 5.5.3.1 Haber-Bosch process              240
      • 5.5.3.2 Biological nitrogen fixation   240
      • 5.5.3.3 Electrochemical production                241
      • 5.5.3.4 Chemical looping processes               241
    • 5.5.4    Blue ammonia              241
      • 5.5.4.1 Blue ammonia projects           241
    • 5.5.5    Chemical energy storage       242
      • 5.5.5.1 Ammonia fuel cells    242
      • 5.5.5.2 Marine fuel      243
    • 5.5.6    Applications   246
    • 5.5.7    Companies     247
    • 5.5.8    Market Forecasts        251
  • 5.6        Methanol production                251
    • 5.6.1    Market overview           251
    • 5.6.2    Sources             253
    • 5.6.3    Methanol-to gasoline technology     254
      • 5.6.3.1 Production processes              255
        • 5.6.3.1.1           Anaerobic digestion  256
        • 5.6.3.1.2           Biomass gasification 256
        • 5.6.3.1.3           Power to Methane       257
    • 5.6.4    Applications   258
    • 5.6.5    Market Forecasts        259
    • 5.6.6    Companies     260
  • 5.7        Steelmaking   262
    • 5.7.1    Market overview           262
    • 5.7.2    Comparative analysis              267
    • 5.7.3    Hydrogen Direct Reduced Iron (DRI)              268
    • 5.7.4    Applications   270
    • 5.7.5    Market Forecasts        271
    • 5.7.6    Companies     272
  • 5.8        Power & heat generation         275
    • 5.8.1    Market overview           275
      • 5.8.1.1 Power generation        276
      • 5.8.1.2 Heat Generation          277
    • 5.8.2    Hydrogen Supply and Infrastructure for Power and Heat  278
    • 5.8.3    Roadmap         279
    • 5.8.4    Market Forecasts        280
    • 5.8.5    Companies     281
  • 5.9        Maritime           284
    • 5.9.1    Introduction    284
    • 5.9.2    Applications   285
    • 5.9.3    Companies     286
    • 5.9.4    Production, Distribution and Infrastructure for Maritime Applications    289
    • 5.9.5    Market 289
  • 5.10     Fuel cell trains              290
    • 5.10.1 Market overview           290
    • 5.10.2 Applications   291
    • 5.10.3 Companies     292
    • 5.10.4 Hydrogen Production, Distribution and Infrastructure for Rail Applications        295
    • 5.10.5 Market Forecasts        296
    • 5.10.6 Case studies  298

 

6             COMPANY PROFILES                299 (285 company profiles)

 

7             RESEARCH METHODOLOGY              483

 

8             REFERENCES 484

 

List of Tables

  • Table 1. Hydrogen colour shades, Technology, cost, and CO2 emissions.           24
  • Table 2. Main applications of hydrogen.       25
  • Table 3. Overview of hydrogen production methods.          26
  • Table 4. National hydrogen initiatives.           30
  • Table 5. Market challenges in the hydrogen economy and production technologies.    31
  • Table 6. Hydrogen industry developments 2020-2025       32
  • Table 7. Market map for hydrogen technology and production.    45
  • Table 8. Industrial applications of hydrogen.            48
  • Table 9. Hydrogen energy markets and applications.          49
  • Table 10. Hydrogen production processes and stage of development.   51
  • Table 11. Estimated costs of clean hydrogen production.                61
  • Table 12. US Hydrogen Electrolyzer Capacities, current and planned, as of May 2023, by region.        66
  • Table 13. Comparison of hydrogen types     69
  • Table 14.  Characteristics of typical water electrolysis technologies        75
  • Table 15. Advantages and disadvantages of water electrolysis technologies.    77
  • Table 16. Classifications of Alkaline Electrolyzers.               83
  • Table 17. Advantages & limitations of AWE.               83
  • Table 18. Key performance characteristics of AWE.             83
  • Table 19. Companies in the AWE market.   86
  • Table 20. Comparison of Commercial AEM Materials.       92
  • Table 21. Companies in the AMEL market. 94
  • Table 22. Companies in the PEMEL market.              101
  • Table 23. Companies in the SOEC market. 109
  • Table 24. Other types of electrolyzer technologies               110
  • Table 25. Electrochemical CO₂ Reduction Technologies/ 113
  • Table 26. Cost Comparison of CO₂ Electrochemical Technologies.          115
  • Table 27. Companies developing other electrolyzer technologies.            122
  • Table 28. Electrolyzer Installations Forecast (GW), 2020-2040.  128
  • Table 29. Global market size for Electrolyzers, 2018-2035 (US$B).           129
  • Table 30. Technology Readiness Levels (TRL) of main production technologies for blue hydrogen.     132
  • Table 31. Key players in methane pyrolysis.              137
  • Table 32. Commercial coal gasifier technologies. 138
  • Table 33. Blue hydrogen projects using CG.              139
  • Table 34. Biomass processes summary, process description and TRL.  140
  • Table 35. Pathways for hydrogen production from biomass.          142
  • Table 36. CO2 utilization and removal pathways    147
  • Table 37. Approaches for capturing carbon dioxide (CO2) from point sources. 151
  • Table 38. CO2 capture technologies.             152
  • Table 39. Advantages and challenges of carbon capture technologies. 153
  • Table 40. Overview of commercial materials and processes utilized in carbon capture.             153
  • Table 41. Methods of CO2 transport.             158
  • Table 42. Carbon capture, transport, and storage cost per unit of CO2  160
  • Table 43. Estimated capital costs for commercial-scale carbon capture.             161
  • Table 44. Point source examples.     164
  • Table 45. Assessment of carbon capture materials              169
  • Table 46. Chemical solvents used in post-combustion.   171
  • Table 47. Commercially available physical solvents for pre-combustion carbon capture.        174
  • Table 48. Carbon utilization revenue forecast by product (US$). 178
  • Table 49. CO2 utilization and removal pathways.  178
  • Table 50. Market challenges for CO2 utilization.    180
  • Table 51. Example CO2 utilization pathways.           180
  • Table 52. CO2 derived products via Thermochemical conversion-applications, advantages and disadvantages.            183
  • Table 53. Electrochemical CO₂ reduction products.            186
  • Table 54. CO2 derived products via electrochemical conversion-applications, advantages and disadvantages.            187
  • Table 55. CO2 derived products via biological conversion-applications, advantages and disadvantages.                190
  • Table 56. Companies developing and producing CO2-based polymers. 192
  • Table 57. Companies developing mineral carbonation technologies.      194
  • Table 58. Market players in blue hydrogen. 195
  • Table 59. Market players in pink hydrogen. 198
  • Table 60. Market players in turquoise hydrogen.    201
  • Table 61. Market overview-hydrogen storage and transport.          202
  • Table 62. Summary of different methods of hydrogen transport. 203
  • Table 63. Market players in hydrogen storage and transport.         206
  • Table 64. Market overview hydrogen fuel cells-applications, market players and market challenges.                208
  • Table 65. Categories and examples of solid biofuel.            210
  • Table 66. Comparison of biofuels and e-fuels to fossil and electricity.     212
  • Table 67. Classification of biomass feedstock.       212
  • Table 68. Biorefinery feedstocks.     213
  • Table 69. Feedstock conversion pathways.                213
  • Table 70. Biodiesel production techniques.              214
  • Table 71. Advantages and disadvantages of biojet fuel      215
  • Table 72. Production pathways for bio-jet fuel.       216
  • Table 73. Applications of e-fuels, by type.   219
  • Table 74. Overview of e-fuels.             220
  • Table 75. Benefits of e-fuels.               220
  • Table 76. eFuel production facilities, current and planned.            223
  • Table 77. Market overview for hydrogen vehicles-applications, market players and market challenges.                227
  • Table 78. Markets, Applications and Companies in Hydrogen Vehicles. 228
  • Table 79. Technology Comparison for Hydrogen Vehicles.              229
  • Table 80. Hydrogen Storage Options.            230
  • Table 81.  Key Challenges and Opportunities.          230
  • Table 82. Markets, Applications and Companies in Hydrogen Aviation   231
  • Table 83. Hydrogen Technology Approaches in Aviation.  232
  • Table 84. Hydrogen Storage Options for Aviation.  233
  • Table 85. Key Projects and Timelines.           233
  • Table 86. Market and Adoption Forecasts. 234
  • Table 87. Ammonia Production Technologies Using Hydrogen.    235
  • Table 88. Economic Analysis of Ammonia Production from Hydrogen.   237
  • Table 89. Hydrogen Production, Distribution and Infrastructure for Ammonia Synthesis.          239
  • Table 90. Blue ammonia projects.   241
  • Table 91. Technical Comparison of Ammonia Production Methods.         241
  • Table 92. Ammonia fuel cell technologies. 242
  • Table 93. Market overview of green ammonia in marine fuel.         243
  • Table 94. Summary of marine alternative fuels.      244
  • Table 95. Estimated costs for different types of ammonia.             245
  • Table 96. Comparative Lifecycle Analysis of Ammonia Production Pathways.   246
  • Table 97. End-Use Applications for Ammonia Produced from Hydrogen.              246
  • Table 98. Companies in Ammonia from Hydrogen Production.    247
  • Table 99. Notable Ammonia from Hydrogen Projects.        249
  • Table 100. Market Forecasts for Ammonia from Hydrogen.             251
  • Table 101. Methanol Production Technologies Using Hydrogen. 252
  • Table 102. Economic Analysis of Methanol Production from Hydrogen. 253
  • Table 103. Hydrogen and Carbon Sources for Methanol Production.       253
  • Table 104. Comparison of biogas, biomethane and natural gas. 255
  • Table 105. Technical Comparison of Methanol Production Methods.      257
  • Table 106. End-Use Applications for Methanol from Hydrogen.   258
  • Table 107. Market Forecasts for Methanol from Hydrogen.             259
  • Table 108. Companies in Methanol from Hydrogen Production.  260
  • Table 109. Notable Methanol from Hydrogen Projects.      261
  • Table 110. Hydrogen-Based Steelmaking Technologies.   262
  • Table 111. Economic Analysis of Hydrogen Steelmaking. 264
  • Table 112. Hydrogen-based steelmaking technologies.    266
  • Table 113. Comparison of green steel production technologies. 267
  • Table 114. Technical Comparison of Steel Production Routes.    268
  • Table 115. Advantages and disadvantages of each potential hydrogen carrier. 269
  • Table 116. Hydrogen Supply and Infrastructure for Steelmaking.               269
  • Table 117. Applications and Market Analysis for Low-Carbon Steel.         270
  • Table 118. Market Forecasts for Hydrogen Steelmaking.  271
  • Table 119. Companies in Hydrogen Steelmaking. 272
  • Table 120. Notable Hydrogen Steelmaking Projects.           273
  • Table 121. Hydrogen Power and Heat Generation Technologies. 275
  • Table 122. Technical Comparison of Power Generation Technologies.    276
  • Table 123. Technical Comparison of Heat Generation Technologies.       277
  • Table 124. Hydrogen Supply and Infrastructure for Power and Heat.        278
  • Table 125. Technological Roadmap for power & heat generation.               279
  • Table 126. Market Forecasts for Hydrogen in Power and Heat.      280
  • Table 127. Companies in Hydrogen Power and Heat Generation.               281
  • Table 128. Notable Hydrogen Power and Heat Generation Projects.         282
  • Table 129. Technical Comparison of Hydrogen and Alternative Maritime Fuels 284
  • Table 130. Economic Analysis of Maritime Hydrogen Implementation    285
  • Table 131. Maritime Hydrogen Applications by Segment. 285
  • Table 132. Companies in Maritime Hydrogen.         287
  • Table 133. Notable Maritime Hydrogen Projects.   288
  • Table 134. Hydrogen Production, Distribution and Infrastructure for Maritime Applications.  289
  • Table 135. Market Forecasts for Maritime Hydrogen.          289
  • Table 136. Technical Comparison of Rail Propulsion Technologies.          290
  • Table 137. Economic Analysis of Fuel Cell Train Implementation.              291
  • Table 138. Fuel Cell Train Applications by Segment.            291
  • Table 139. Companies in Fuel Cell Train Development.     293
  • Table 140. Notable Fuel Cell Train Projects.              294
  • Table 141. Hydrogen Production, Distribution and Infrastructure for Rail Applications.              295
  • Table 142. Market Forecasts for Fuel Cell Trains.   296
  • Table 143. Comparison of Regional Hydrogen Train Markets.        296
  • Table 144. Case Studies - Operational Performance of Fuel Cell Trains. 298

 

List of Figures

  • Figure 1. Hydrogen value chain.        29
  • Figure 2. Current Annual H2 Production.     50
  • Figure 3. Principle of a PEM electrolyser.     54
  • Figure 4. Power-to-gas concept.        56
  • Figure 5. Schematic of a fuel cell stack.      57
  • Figure 6. High pressure electrolyser - 1 MW.             58
  • Figure 7. Global hydrogen demand forecast.            62
  • Figure 8. U.S. Hydrogen Production by Producer Type.       63
  • Figure 9. Segmentation of regional hydrogen production capacities in the US. 65
  • Figure 10. Current of planned installations of Electrolyzers over 1MW in the US.             66
  • Figure 11. SWOT analysis: green hydrogen.               71
  • Figure 12. Types of electrolysis technologies.          72
  • Figure 13. Typical Balance of Plant including Gas processing.     74
  • Figure 14. Schematic of alkaline water electrolysis working principle.    84
  • Figure 15. Alkaline water electrolyzer.            85
  • Figure 16. Typical system design and balance of plant for an AEM electrolyser.                89
  • Figure 17. Schematic of PEM water electrolysis working principle.            95
  • Figure 18. Typical system design and balance of plant for a PEM electrolyser.   97
  • Figure 19. Schematic of solid oxide water electrolysis working principle.             103
  • Figure 20. Typical system design and balance of plant for a solid oxide electrolyser.     104
  • Figure 21. Estimated annual electrolyser manufacturing capacity, by manufacture's headquarters (a) and by type and origin (b), 2021-2024.         128
  • Figure 22. Electrolyzer Installations Forecast (GW), 2020-2040. 129
  • Figure 23. Global market size for Electrolyzers, 2018-2035 (US$B)           130
  • Figure 24. SWOT analysis: blue hydrogen.  132
  • Figure 25. SMR process flow diagram of steam methane reforming with carbon capture and storage (SMR-CCS).    133
  • Figure 26. Process flow diagram of autothermal reforming with a carbon capture and storage (ATR-CCS) plant.  134
  • Figure 27. POX process flow diagram.          135
  • Figure 28. Process flow diagram for a typical SE-SMR.       136
  • Figure 29. HiiROC’s methane pyrolysis reactor.      136
  • Figure 30. Coal gasification (CG) process. 138
  • Figure 31. Flow diagram of Advanced autothermal gasification (AATG). 140
  • Figure 32. Schematic of CCUS process.      146
  • Figure 33. Pathways for CO2 utilization and removal.         147
  • Figure 34. A pre-combustion capture system.         152
  • Figure 35. Carbon dioxide utilization and removal cycle.  155
  • Figure 36. Various pathways for CO2 utilization.    156
  • Figure 37. Example of underground carbon dioxide storage.         157
  • Figure 38. Transport of CCS technologies. 158
  • Figure 39. Railroad car for liquid CO₂ transport       160
  • Figure 40. Estimated costs of capture of one metric ton of carbon dioxide (Co2) by sector.     162
  • Figure 41. CCUS market map.            164
  • Figure 42. Global capacity of point-source carbon capture and storage facilities.          166
  • Figure 43. Global carbon capture capacity by CO2 source, 2021.             167
  • Figure 44. Global carbon capture capacity by CO2 source.            167
  • Figure 45. Global carbon capture capacity by CO2 endpoint.       168
  • Figure 46. Post-combustion carbon capture process.        170
  • Figure 47. Postcombustion CO2 Capture in a Coal-Fired Power Plant.   171
  • Figure 48. Oxy-combustion carbon capture process.         172
  • Figure 49. Liquid or supercritical CO2 carbon capture process.  173
  • Figure 50. Pre-combustion carbon capture process.          173
  • Figure 51. CO2 non-conversion and conversion technology, advantages and disadvantages.               174
  • Figure 52. Applications for CO2.       177
  • Figure 53. Cost to capture one metric ton of carbon, by sector.   177
  • Figure 54. Life cycle of CO2-derived products and services.          179
  • Figure 55. Co2 utilization pathways and products.               182
  • Figure 56. Plasma technology configurations and their advantages and disadvantages for CO2 conversion.     186
  • Figure 57. LanzaTech gas-fermentation process.   189
  • Figure 58. Schematic of biological CO2 conversion into e-fuels. 190
  • Figure 59. Econic catalyst systems.                192
  • Figure 60. Mineral carbonation processes. 194
  • Figure 61. Pink hydrogen Production Pathway.         196
  • Figure 62. SWOT analysis: pink hydrogen    198
  • Figure 63. Turquoise hydrogen Production Pathway.            199
  • Figure 64. SWOT analysis: turquoise hydrogen        201
  • Figure 65. Process steps in the production of electrofuels.             218
  • Figure 66. Mapping storage technologies according to performance characteristics.  219
  • Figure 67. Production process for green hydrogen.              221
  • Figure 68. E-liquids production routes.        222
  • Figure 69. Fischer-Tropsch liquid e-fuel products. 222
  • Figure 70. Resources required for liquid e-fuel production.            223
  • Figure 71. Levelized cost and fuel-switching CO2 prices of e-fuels.          225
  • Figure 72. Cost breakdown for e-fuels.         226
  • Figure 73. Hydrogen fuel cell powered EV.  227
  • Figure 74. Green ammonia production and use.    237
  • Figure 75. Classification and process technology according to carbon emission in ammonia production.     238
  • Figure 76. Schematic of the Haber Bosch ammonia synthesis reaction.               240
  • Figure 77. Schematic of hydrogen production via steam methane reformation.               240
  • Figure 78. Estimated production cost of green ammonia.               245
  • Figure 79. Renewable Methanol Production Processes from Different Feedstocks.       255
  • Figure 80. Production of biomethane through anaerobic digestion and upgrading.        256
  • Figure 81. Production of biomethane through biomass gasification and methanation.               257
  • Figure 82. Production of biomethane through the Power to methane process.  257
  • Figure 83. Transition to hydrogen-based production.          265
  • Figure 84. CO2 emissions from steelmaking (tCO2/ton crude steel).       266
  • Figure 85. Hydrogen Direct Reduced Iron (DRI) process.  269
  • Figure 86. Three Gorges Hydrogen Boat No. 1.         286
  • Figure 87. PESA hydrogen-powered shunting locomotive.               293
  • Figure 88. Symbiotic™ technology process.               300
  • Figure 89. Alchemr AEM electrolyzer cell.   306
  • Figure 90. HyCS® technology system.           308
  • Figure 91. Fuel cell module FCwave™.            316
  • Figure 92. Direct Air Capture Process.          323
  • Figure 93. CRI process.           324
  • Figure 94. Croft system.         335
  • Figure 95. ECFORM electrolysis reactor schematic.            340
  • Figure 96. Domsjö process.  341
  • Figure 97. EH Fuel Cell Stack.             344
  • Figure 98. Direct MCH® process.      348
  • Figure 99. Electriq's dehydrogenation system.        351
  • Figure 100. Endua Power Bank.         353
  • Figure 101. EL 2.1 AEM Electrolyser.               354
  • Figure 102. Enapter – Anion Exchange Membrane (AEM) Water Electrolysis.       355
  • Figure 103. Direct MCH® process.   356
  • Figure 104. Hyundai Class 8 truck fuels at a First Element high capacity mobile refueler.          362
  • Figure 105. FuelPositive system.       365
  • Figure 106. Using electricity from solar power to produce green hydrogen.         370
  • Figure 107. Hydrogen Storage Module.         380
  • Figure 108. Plug And Play Stationery Storage Units.             381
  • Figure 109. Left: a typical single-stage electrolyzer design, with a membrane separating the hydrogen and oxygen gasses. Right: the two-stage E-TAC process. 384
  • Figure 110. Hystar PEM electrolyser.               400
  • Figure 111. KEYOU-H2-Technology. 408
  • Figure 112. Audi/Krajete unit.              410
  • Figure 113. OCOchem’s Carbon Flux Electrolyzer.                430
  • Figure 114.  CO2 hydrogenation to jet fuel range hydrocarbons process.              433
  • Figure 115. The Plagazi ® process.    439
  • Figure 116. Proton Exchange Membrane Fuel Cell.               442
  • Figure 117. Sunfire process for Blue Crude production.    459
  • Figure 118. CALF-20 has been integrated into a rotating CO2 capture machine (left), which operates inside a CO2 plant module (right).   462
  • Figure 119. Tevva hydrogen truck.    467
  • Figure 120. Topsoe's SynCORTM autothermal reforming technology.      470
  • Figure 121. O12 Reactor.        474
  • Figure 122. Sunglasses with lenses made from CO2-derived materials.               475
  • Figure 123. CO2 made car part.        475
  • Figure 124. The Velocys process.     476
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The Global Hydrogen Market 2025-2035
The Global Hydrogen Market 2025-2035
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The Global Hydrogen Market 2025-2035
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