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Blue Hydrogen Market Trends

Report ID: GMI5372
Published Date: Dec 2023
Report Format: PDF

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Blue Hydrogen Market Trends

Capability of capturing and sequestering the carbon emissions, mitigating environmental impact along with upsurge in exploration of hydrogen as part of decarbonization strategies will proliferate the business scenario. Additionally, increasing collaborations and partnerships across hydrogen value chain to develop blue hydrogen projects in line with transition of industries towards blue hydrogen leveraging existing natural gas infrastructure will further propel the business dynamics

Authors: Ankit Gupta, Sristhi Agrawal

Frequently Asked Questions (FAQ) :

The market size of blue hydrogen was worth more than USD 2.03 billion in 2023 and is anticipated to reach USD 5.01 billion by 2032, due to the integration of carbon capture and storage (CCS) technologies to capture and store the carbon dioxide (CO2) emissions generated during the hydrogen production process.

The steam methane reforming segment will continue to grow and reach over USD 3.5 billion by 2032, owing to ability to produce cleaner and more sustainable blue hydrogen in conjunction with advancements in catalyst design, process optimization, and system integration.

North America blue hydrogen market will record around 2% CAGR from 2024 to 2032, due to the expansion of several blue hydrogen projects and demonstrations, coupled with advancements in steam methane reforming (SMR) technology, carbon capture and storage (CCS), and electrolysis for improving the efficiency and reducing the cost of blue hydrogen production.

Air Products Inc., BP p.l.c., Eni, Exxon Mobil Corporation, Shell plc, Technip Energies N.V., Air Liquide, TOPSOE, Equinor ASA, Johnson Matthey, SK E&S CO.LTD., Woodside, MaireTecnimont Spa, Saipem, Thyssenkrupp Industrial Solutions AG, Bechtel Corporation, and John Wood Group PLC.