Global Blue Hydrogen Market By Technology, By End-User, By Region: Global Insights, Trends and Forecast, 2023 – 2031 & Competitive insights

Global Blue Hydrogen Market Accounted for US$ 17.89 Billion in 2022, growing at an estimated CAGR of 12.2% from 2023-2031.

Blue hydrogen is a low-carbon alternative to traditional hydrogen production. It is generated through a process called steam methane reforming (SMR) with carbon capture and storage (CCS). This method extracts hydrogen from natural gas while capturing and storing the resulting carbon emissions, reducing the environmental impact and making hydrogen production more sustainable.

In the global blue hydrogen market, by technology, steam methane reforming is the dominating segment. It is a well-established and widely used method for producing hydrogen from natural gas. The technology is favored for its efficiency and maturity, making it a common choice for large-scale hydrogen production, particularly in industrial applications.

Global Blue Hydrogen Market Revenue & Forecast, (US$ Million), 2021 – 2031

COVID-19 Impact Analysis on Global Blue Hydrogen Market

Pre-COVID-19, the blue hydrogen market was on a growth trajectory, driven by increased focus on clean energy and emissions reduction. However, the pandemic initially disrupted supply chains and project timelines, causing temporary setbacks. Post-COVID-19, the market rebounded as environmental concerns remained paramount, reaffirming the significance of blue hydrogen in achieving decarbonization goals. The pandemic underscored the importance of sustainable energy sources, leading to renewed investments and policy support, contributing to the blue hydrogen market’s recovery and long-term growth prospects.

Report Coverage and Deliverables: 

A significant driver in the blue hydrogen market is stringent environmental regulations aimed at reducing carbon emissions. According to the International Energy Agency (IEA), global carbon dioxide emissions must decline rapidly to achieve climate goals. Blue hydrogen, produced with carbon capture and storage (CCS), aligns with these objectives. The Global CCS Institute reported that CCS could capture 19% of global emissions by 2040.

Governments and industries, under pressure to meet emissions targets, are increasingly investing in blue hydrogen as it offers a pathway to significantly lower carbon footprints and compliance with emissions reduction mandates. A notable restraint in the blue hydrogen market is the substantial initial capital investment required for building blue hydrogen production facilities. These facilities, including CCS infrastructure, are capital-intensive. This study estimates that the initial capital costs for blue hydrogen production with CCS could be two to four times higher than traditional gray hydrogen production. This high upfront expenditure poses challenges for investors and companies, especially in a competitive energy market, and can slow down the widespread adoption of blue hydrogen until economies of scale are achieved.

In the global blue hydrogen market by end user, petroleum refinery is the dominating segment. These facilities require substantial hydrogen for refining processes, such as hydrocracking and hydro-treating, to remove impurities from crude oil and produce cleaner fuels. Blue hydrogen offers an attractive option to meet this demand while simultaneously reducing carbon emissions, aligning with the industry’s increasing focus on sustainability and emissions reduction.

North America dominated the global blue hydrogen market in 2022. On the other hand The European Union had laid out ambitious plans for hydrogen adoption as part of its Green Deal initiative, with a strong emphasis on blue hydrogen produced with carbon capture and storage (CCS). Investments in blue hydrogen projects were significant, driven by a regulatory framework that encouraged hydrogen production for various applications, including industrial processes and transportation.

Global Blue Hydrogen Market: Competitive Landscape

• Air Products and Chemicals, Inc.
• Aker Solutions
• Aquaterra Energy Limited
• BP p.l.c.
• Dastur Energy
• Eni S.p.A.
• Equinor ASA
• Exxon Mobil Corporation
• Johnson Matthey
• Linde plc
• Petrofac Limited
• Shell International B.V.
• Technip Energies N.V.
• Topsoe
• Uniper SE
• Other Industry Participants

Report Summary of Global Blue Hydrogen Market

Global Blue Hydrogen Market:

By Technology

• Steam Methane Reforming
• Auto Thermal Reforming
• Gas Partial Oxidation

By End User

• Petroleum Refinery
• Chemical Industry
• Power Generation
• Others

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

Table of Contents

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**Exclusive for Multi-User and Enterprise User.

Global Blue Hydrogen Market Segmentation

By Technology

By End User

By Region

**Note: The report covers cross-segmentation analysis by region further into countries

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The Niche Research approach encompasses both primary and secondary research methods to provide comprehensive insights. While primary research is the cornerstone of our studies, we also incorporate secondary research sources such as company annual reports, premium industry databases, press releases, industry journals, and white papers.

Within our primary research, we actively engage with various industry stakeholders, conducting paid interviews and surveys. Our meticulous analysis extends to every market participant in major countries, allowing us to thoroughly examine their portfolios, calculate market shares, and segment revenues.

Our data collection primarily focuses on individual countries within our research scope, enabling us to estimate regional market sizes. Typically, we employ a bottom-up approach, meticulously tracking trends in different countries. We analyze growth drivers, constraints, technological innovations, and opportunities for each country, ultimately arriving at regional figures.Our process begins by examining the growth prospects of each country. Building upon these insights, we project growth and trends for the entire region. Finally, we utilize our proprietary model to refine estimations and forecasts.

Our data validation standards are integral to ensuring the reliability and accuracy of our research findings. Here’s a breakdown of our data validation processes and the stakeholders we engage with during our primary research:

• Supply Side Analysis: We initiate a supply side analysis by directly contacting market participants, through telephonic interviews and questionnaires containing both open-ended and close-ended questions. We gather information on their portfolios, segment revenues, developments, and growth strategies.
• Demand Side Analysis: To gain insights into adoption trends and consumer preferences, we reach out to target customers and users (non-vendors). This information forms a vital part of the qualitative analysis section of our reports, covering market dynamics, adoption trends, consumer behavior, spending patterns, and other related aspects.
• Consultant Insights: We tap into the expertise of our partner consultants from around the world to obtain their unique viewpoints and perspectives. Their insights contribute to a well-rounded understanding of the markets under investigation.
• In-House Validation: To ensure data accuracy and reliability, we conduct cross-validation of data points and information through our in-house team of consultants and utilize advanced data modeling tools for thorough verification.

The forecasts we provide are based on a comprehensive assessment of various factors, including:

• Market Trends and Past Performance (Last Five Years): We accurately analyze market trends and performance data from preceding five years to identify historical patterns and understand the market’s evolution.
• Historical Performance and Growth of Market Participants: We assess the historical performance and growth trajectories of key market participants. This analysis provides insights into the competitive landscape and individual company strategies.
• Market Determinants Impact Analysis (Next Eight Years): We conduct a rigorous analysis of the factors that are projected to influence the market over the next eight years. This includes assessing both internal and external determinants that can shape market dynamics.
• Drivers and Challenges for the Forecast Period:Identify the factors expected to drive market growth during the forecast period, as well as the challenges that the industry may face. This analysis aids in deriving an accurate growth rate projection.
• New Acquisitions, Collaborations, or Partnerships: We keep a close watch on any new acquisitions, collaborations, or partnerships within the industry. These developments can have a significant impact on market dynamics and competitiveness.
• Macro and Micro Factors Analysis:A thorough examination of both macro-level factors (e.g., economic trends, regulatory changes) and micro-level factors (e.g., technological advancements, consumer preferences) that may influence the market during the forecast period.
• End-User Sentiment Analysis: To understand the market from the end-user perspective, we conduct sentiment analysis. This involves assessing the sentiment, preferences, and feedback of the end-users, which can provide valuable insights into market trends.
• Perspective of Primary Participants: Insights gathered directly from primary research participants play a crucial role in shaping our forecasts. Their perspectives and experiences provide valuable qualitative data.
• Year-on-Year Growth Trend: We utilize a year-on-year growth trend based on historical market growth and expected future trends. This helps in formulating our growth projections, aligning them with the market’s historical performance.

Research process adopted by TNR involves multiple stages, including data collection, validation, quality checks, and presentation. It’s crucial that the data and information we provide add value to your existing market understanding and expertise. We have also established partnerships with business consulting, research, and survey organizations across regions and globally to collaborate on regional analysis and data validation, ensuring the highest level of accuracy and reliability in our reports.