Blue Hydrogen Market Analysis and Forecast to 2032: By Technology (Steam Methane Reforming, Autothermal Reforming, Gas Particle Oxidation), End-use (Power Generation, Chemical Industries, Petroleum Refinery, Others), and Region
The global blue hydrogen market size was valued at $1.2 billion in 2022, and blue hydrogen industry is projected to reach $12.2 billion by 2032, growing at a CAGR of 26.6% from 2023 to 2032.
Blue Hydrogen is a type of hydrogen that is produced by extracting the gas from natural gas. The process of extracting the gas is called methane cracking, and it produces a gas that is 99.999% pure hydrogen. The main advantage of blue hydrogen is that it can be produced without emitting any carbon dioxide, making it a very clean and environmentally friendly fuel.
Key Trends
One of the most important is the increasing use of blue hydrogen in the transportation sector. This is because blue hydrogen is a cleaner and more efficient fuel than traditional petrol or diesel.
Another key trend in blue hydrogen technology is the increasing use of blue hydrogen in power generation. This is because blue hydrogen is a cleaner and more efficient fuel than natural gas or coal.
Finally, another key trend in blue hydrogen technology is the increasing use of blue hydrogen in the chemical industry.
This is because blue hydrogen is a cleaner and more efficient fuel than traditional fossil fuels. It produces far less emissions than these fuels, and so is better for the environment. Additionally, blue hydrogen is much cheaper to produce than traditional fossil fuels, making it a more cost-effective fuel option for these industries.
Key Drivers
The main drivers behind the growth of blue hydrogen are:
- The need to decarbonize the hydrogen production process
- The abundance of natural gas
- The relatively low cost of natural gas
- The technical feasibility of using natural gas to produce hydrogen
Restraints & Challenges
The blue hydrogen market is still in its early stages of development and there are a number of key challenges that need to be addressed before it can reach its full potential.
One of the biggest challenges is the high cost of blue hydrogen production. The technology required to produce blue hydrogen is still very expensive and this makes it difficult for companies to justify the investment.
Another challenge is the lack of a dedicated infrastructure for blue hydrogen. There are no dedicated pipelines or storage facilities for blue hydrogen, which makes it difficult to transport and store.
Market Segmentation:
Blue Hydrogen Market is segmented into technology, end use and region. Based on technology the market is categorized into Steam Methane Reforming, Autothermal Reforming, Gas Particle Oxidation. On the basis of end use, it is further segmented into Power Generation, Chemical Industries, Petroleum Refinery and Others. Whereas based on region it is divided into North America,Europe,Asia-Pacific and Rest of the World .
Key Players:
The Blue Hydrogen Market Report includes players such as Air Liquide S.A. (France), Linde plc (Ireland), Air Products and Chemicals, Inc. (U.S), Equinor ASA (Norway), Siemens Energy AG (Germany), Engie SA (France), Mitsubishi Power, Ltd. (Japan), Wood PLC (U.S), ABB Ltd. (Switzerland) and Repsol S.A. (Spain), among others
Blue Hydrogen Market Report Coverage:
- The report offers a comprehensive quantitative as well as qualitative analysis of the current Blue Hydrogen Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
- The report also covers qualitative as well as quantitative analysis of Blue Hydrogen Market in terms of revenue ($Million).
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Blue Hydrogen industry.
- A thorough analysis of market trends and restraints is provided.
- By region as well as country market analysis is also presented in this report.
- Analytical depiction of the Blue Hydrogen Market along with the current trends and future estimations to depict imminent investment pockets. The overall Blue Hydrogen industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
- Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Blue Hydrogen Market are also analyzed.
Table of Contents
Chapter 1. Blue Hydrogen Market Overview
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Limitations
1.4. Research Methodologies
1.4.1. Secondary Research
1.4.2. Market Size Estimation Technique
1.4.3. Forecasting
1.4.4. Primary Research and Data Validation
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. Premium Insights on the Market
3.1. Market Attractiveness Analysis, by Technology
3.2. Market Attractiveness Analysis, by End Use
3.3. Market Attractiveness Analysis, by Region
Chapter 4. Blue Hydrogen Market Outlook
4.1. Blue Hydrogen Market Segmentation
4.2. Market Dynamics
4.2.1. Market Drivers
4.2.1.1. Driver 1
4.2.1.2. Driver 2
4.2.1.3. Driver 3
4.2.2. Market Restraints
4.2.2.1. Restraint 1
4.2.2.2. Restraint 2
4.2.3. Market Opportunities
4.2.3.1. Opportunity 1
4.2.3.2. Opportunity 2
4.3. Porter’s Five Forces Analysis
4.3.1. Threat of New Entrants
4.3.2. Threat of Substitutes
4.3.3. Bargaining Power of Buyers
4.3.4. Bargaining Power of Supplier
4.3.5. Competitive Rivalry
4.4. PESTLE Analysis
4.5. Value Chain Analysis
4.6. Impact of COVID-19 on the Blue Hydrogen Market
4.7. Impact of the Russia and Ukraine War on the Blue Hydrogen Market
4.8. Case Study Analysis
4.9. Pricing Analysis
Chapter 5. Blue Hydrogen Market, by Technology
5.1. Market Overview
5.2. Steam Methane Reforming
5.2.1. Key Market Trends & Opportunity Analysis
5.2.2. Market Size and Forecast, by Region
5.3. Autothermal Reforming
5.3.1. Key Market Trends & Opportunity Analysis
5.3.2. Market Size and Forecast, by Region
5.4. Gas Particle Oxidation
5.4.1. Key Market Trends & Opportunity Analysis
5.4.2. Market Size and Forecast, by Region
Chapter 6. Blue Hydrogen Market, by End Use
6.1. Market Overview
6.2. Power Generation
6.2.1. Key Market Trends & Opportunity Analysis
6.2.2. Market Size and Forecast, by Region
6.3. Chemical Industries
6.3.1. Key Market Trends & Opportunity Analysis
6.3.2. Market Size and Forecast, by Region
6.4. Petroleum Refinery
6.4.1. Key Market Trends & Opportunity Analysis
6.4.2. Market Size and Forecast, by Region
6.5. Others
6.5.1. Key Market Trends & Opportunity Analysis
6.5.2. Market Size and Forecast, by Region
Chapter 7. Blue Hydrogen Market, by Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. North America Blue Hydrogen Market Size and Forecast, by Technology
7.2.3. North America Blue Hydrogen Market Size and Forecast, by End Use
7.2.4. North America Blue Hydrogen Market Size and Forecast, by Country
7.2.5. The U.S.
7.2.5.1. The U.S. Blue Hydrogen Market Size and Forecast, by Technology
7.2.5.2. The U.S. Blue Hydrogen Market Size and Forecast, by End Use
7.2.6. Canada
7.2.6.1. Canada Blue Hydrogen Market Size and Forecast, by Technology
7.2.6.2. Canada Blue Hydrogen Market Size and Forecast, by End Use
7.2.7. Mexico
7.2.7.1. Mexico Blue Hydrogen Market Size and Forecast, by Technology
7.2.7.2. Mexico Blue Hydrogen Market Size and Forecast, by End Use
7.3. Europe
7.3.1. Key Market Trends and Opportunities
7.3.2. Europe Blue Hydrogen Market Size and Forecast, by Technology
7.3.3. Europe Blue Hydrogen Market Size and Forecast, by End Use
7.3.4. Europe Blue Hydrogen Market Size and Forecast, by Country
7.3.5. The UK
7.3.5.1. The UK Blue Hydrogen Market Size and Forecast, by Technology
7.3.5.2. The UK Blue Hydrogen Market Size and Forecast, by End Use
7.3.6. Germany
7.3.6.1. Germany Blue Hydrogen Market Size and Forecast, by Technology
7.3.6.2. Germany Blue Hydrogen Market Size and Forecast, by End Use
7.3.7. France
7.3.7.1. France Blue Hydrogen Market Size and Forecast, by Technology
7.3.7.2. France Blue Hydrogen Market Size and Forecast, by End Use
7.3.8. Spain
7.3.8.1. Spain Blue Hydrogen Market Size and Forecast, by Technology
7.3.8.2. Spain Blue Hydrogen Market Size and Forecast, by End Use
7.3.9. Italy
7.3.9.1. Italy Blue Hydrogen Market Size and Forecast, by Technology
7.3.9.2. Italy Blue Hydrogen Market Size and Forecast, by End Use
7.3.10. Netherlands
7.3.10.1. Netherlands Blue Hydrogen Market Size and Forecast, by Technology
7.3.10.2. Netherlands Blue Hydrogen Market Size and Forecast, by End Use
7.3.11. Sweden
7.3.11.1. Sweden Blue Hydrogen Market Size and Forecast, by Technology
7.3.11.2. Sweden Blue Hydrogen Market Size and Forecast, by End Use
7.3.12. Switzerland
7.3.12.1. Switzerland Blue Hydrogen Market Size and Forecast, by Technology
7.3.12.2. Switzerland Blue Hydrogen Market Size and Forecast, by End Use
7.3.13. Denmark
7.3.13.1. Denmark Blue Hydrogen Market Size and Forecast, by Technology
7.3.13.2. Denmark Blue Hydrogen Market Size and Forecast, by End Use
7.3.14. Finland
7.3.14.1. Finland Blue Hydrogen Market Size and Forecast, by Technology
7.3.14.2. Finland Blue Hydrogen Market Size and Forecast, by End Use
7.3.15. Russia
7.3.15.1. Russia Blue Hydrogen Market Size and Forecast, by Technology
7.3.15.2. Russia Blue Hydrogen Market Size and Forecast, by End Use
7.3.16. Rest of Europe
7.3.16.1. Rest of Europe Blue Hydrogen Market Size and Forecast, by Technology
7.3.16.2. Rest of Europe Blue Hydrogen Market Size and Forecast, by End Use
7.4. Asia-Pacific
7.4.1. Key Market Trends and Opportunities
7.4.2. Asia-Pacific Blue Hydrogen Market Size and Forecast, by Country
7.4.3. Asia-Pacific Blue Hydrogen Market Size and Forecast, by Technology
7.4.4. Asia-Pacific Blue Hydrogen Market Size and Forecast, by End Use
7.4.5. China
7.4.5.1. China Blue Hydrogen Market Size and Forecast, by Technology
7.4.5.2. China Blue Hydrogen Market Size and Forecast, by End Use
7.4.6. India
7.4.6.1. India Blue Hydrogen Market Size and Forecast, by Technology
7.4.6.2. India Blue Hydrogen Market Size and Forecast, by End Use
7.4.7. Japan
7.4.7.1. Japan Blue Hydrogen Market Size and Forecast, by Technology
7.4.7.2. Japan Blue Hydrogen Market Size and Forecast, by End Use
7.4.8. South Korea
7.4.8.1. South Korea Blue Hydrogen Market Size and Forecast, by Technology
7.4.8.2. South Korea Blue Hydrogen Market Size and Forecast, by End Use
7.4.9. Australia
7.4.9.1. Australia Blue Hydrogen Market Size and Forecast, by Technology
7.4.9.2. Australia Blue Hydrogen Market Size and Forecast, by End Use
7.4.10. Singapore
7.4.10.1. Singapore Blue Hydrogen Market Size and Forecast, by Technology
7.4.10.2. Singapore Blue Hydrogen Market Size and Forecast, by End Use
7.4.11. Indonesia
7.4.11.1. Indonesia Blue Hydrogen Market Size and Forecast, by Technology
7.4.11.2. Indonesia Blue Hydrogen Market Size and Forecast, by End Use
7.4.12. Taiwan
7.4.12.1. Taiwan Blue Hydrogen Market Size and Forecast, by Technology
7.4.12.2. Taiwan Blue Hydrogen Market Size and Forecast, by End Use
7.4.13. Malaysia
7.4.13.1. Malaysia Blue Hydrogen Market Size and Forecast, by Technology
7.4.13.2. Malaysia Blue Hydrogen Market Size and Forecast, by End Use
7.4.14. Rest of APAC
7.4.14.1. Rest of APAC Blue Hydrogen Market Size and Forecast, by Technology
7.4.14.2. Rest of APAC Blue Hydrogen Market Size and Forecast, by End Use
7.4.14.3.
7.5. Rest of The World
7.5.1. Key Market Trends and Opportunities
7.5.2. Rest of The World Blue Hydrogen Market Size and Forecast, by Technology
7.5.3. Rest of The World Blue Hydrogen Market Size and Forecast, by End Use
7.5.4. Rest of The World Blue Hydrogen Market Size and Forecast, by Country
7.5.5. Latin America
7.5.5.1. Latin America Blue Hydrogen Market Size and Forecast, by Technology
7.5.5.2. Latin America Blue Hydrogen Market Size and Forecast, by End Use
7.5.6. Middle East
7.5.6.1. Middle East Blue Hydrogen Market Size and Forecast, by Technology
7.5.6.2. Middle East Blue Hydrogen Market Size and Forecast, by End Use
7.5.7. Africa
7.5.7.1. Africa Blue Hydrogen Market Size and Forecast, by Technology
7.5.7.2. Africa Blue Hydrogen Market Size and Forecast, by End Use
Chapter 8. Competitive Landscape
8.1. Overview
8.2. Market Share Analysis/Key Player Positioning
8.3. Vendor Benchmarking
8.4. Developmental Strategy Benchmarking
8.4.1. New Product Developments
8.4.2. Product Launches
8.4.3. Business Expansions
8.4.4. Partnerships, Joint Ventures, and Collaborations
8.4.5. Mergers and Acquisitions
Chapter 9. Company Profiles
9.1. Air Liquide S.A. (France)
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product Offerings
9.1.4. Key Developmental Strategies
9.1.5. SWOT Analysis
9.2. Linde plc (Ireland)
9.2.1. Company Snapshot
9.2.2. Financial Performance
9.2.3. Product Offerings
9.2.4. Key Developmental Strategies
9.2.5. SWOT Analysis
9.3. Air Products and Chemicals, Inc. (U.S)
9.3.1. Company Snapshot
9.3.2. Financial Performance
9.3.3. Product Offerings
9.3.4. Key Developmental Strategies
9.3.5. SWOT Analysis
9.4. Equinor ASA. (Norway)
9.4.1. Company Snapshot
9.4.2. Financial Performance
9.4.3. Product Offerings
9.4.4. Key Developmental Strategies
9.4.5. SWOT Analysis
9.5. Siemens Energy AG. (Germany)
9.5.1. Company Snapshot
9.5.2. Financial Performance
9.5.3. Product Offerings
9.5.4. Key Developmental Strategies
9.5.5. SWOT Analysis
9.6. Engie SA (France)
9.6.1. Company Snapshot
9.6.2. Financial Performance
9.6.3. Product Offerings
9.6.4. Key Developmental Strategies
9.6.5. SWOT Analysis
9.7. Mitsubishi Power Ltd. (Japan)
9.7.1. Company Snapshot
9.7.2. Financial Performance
9.7.3. Product Offerings
9.7.4. Key Developmental Strategies
9.7.5. SWOT Analysis
9.8. Wood PLC. (U.S)
9.8.1. Company Snapshot
9.8.2. Financial Performance
9.8.3. Product Offerings
9.8.4. Key Developmental Strategies
9.8.5. SWOT Analysis
9.9. ABB Ltd (Switzerland)
9.9.1. Company Snapshot
9.9.2. Financial Performance
9.9.3. Product Offerings
9.9.4. Key Developmental Strategies
9.9.5. SWOT Analysis
9.10. Repsol S.A.(Spain)
9.10.1. Company Snapshot
9.10.2. Financial Performance
9.10.3. Product Offerings
9.10.4. Key Developmental Strategies
9.10.5. SWOT Analysis
*The list of companies is subject to change during the final compilation of the report
Key Players
Blue Hydrogen Market Segmentation:
By Technology
- Steam Methane Reforming
- Autothermal Reforming
- Gas Particle Oxidation
By End-Use
- Power Generation
- Chemical Industries
- Petroleum Refinery
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Spain
- Italy
- Netherlands
- Sweden
- Switzerland
- Denmark
- Finland
- Russia
- Rest of Europe
- The Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Indonesia
- Taiwan
- Malaysia
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East
- Africa