Industrial Hydrogen Market size was valued at USD 23.8 Billion in 2024 and is forecasted to grow at a CAGR of 7.5% from 2026 to 2033, reaching USD 45.1 Billion by 2033.
The global industrial hydrogen market was valued at USD 150.8 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. The increasing demand for hydrogen in industries such as oil refining, ammonia production, and metal manufacturing is one of the key factors driving market growth. Europe holds a significant share of the industrial hydrogen market, contributing around 30% of the total revenue in 2022. This is due to the regions strong industrial base and policies promoting green hydrogen for energy transition. Additionally, North America is anticipated to witness substantial growth with a CAGR of 7.3% during the forecast period, driven by advancements in hydrogen production technologies and government investments in clean energy solutions.
In terms of regional opportunities, Asia Pacific is expected to emerge as a major hub for industrial hydrogen production and consumption, particularly in countries such as China and Japan. The market in the Asia Pacific region was valued at USD 45.2 billion in 2022 and is projected to grow at a CAGR of 8.1% by 2030. The growing need for hydrogen in chemical manufacturing and transportation sectors is likely to propel market demand in this region. Other regions such as Latin America and the Middle East & Africa are also expected to contribute to the markets growth, particularly with increasing investments in hydrogen infrastructure and exploration of alternative energy sources. Overall, the industrial hydrogen market presents numerous growth opportunities across multiple regions, driven by technological advancements and sustainability initiatives.
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Linde Group
Air Liquide
Air Products
Air Water
Taiyo Nippon Sanso
Messer Group
Yingde Gases
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Industrial Hydrogen Market
Steam Methane Reforming (SMR)
Electrolysis
Partial Oxidation
Coal Gasification
Oil Refining
Chemicals
Ammonia Production
Food & Beverage
Metal Production
Energy
Glass Manufacturing
Pipeline Distribution
Bulk Delivery
Cylinder Delivery
Hydrogenation
Fuel Cells
Heat Treatment
Power Generation
Gas
Liquid
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Industrial Hydrogen Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Industrial Hydrogen Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Industrial Hydrogen Market, By Type
6. Global Industrial Hydrogen Market, By Application
7. Global Industrial Hydrogen Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Industrial Hydrogen Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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