Australia Hydrogen Market Size and Analysis by Application Areas, Upcoming Projects, Policies and Key Players to 2030

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Australia Hydrogen Market Report Overview

Australia’s active hydrogen production capacity is 10.2ktpa which is less than 1% of global active capacity. However, the country’s wind and solar resources combined with the falling cost of producing renewable energy will greatly increase the opportunities for low-carbon hydrogen production.  As a result, it has one of the largest pipeline capacities for green hydrogen, making the country an early adopter within the market.

Furthermore, Australia’s hydrogen market will benefit from policies at both the national and regional levels. The country launched its national hydrogen strategy in 2020 and has set aside billions in its 2023/ 2024 budget for the low-carbon hydrogen industry, which will chiefly be distributed through its Hydrogen Headstart Program.

Key Use Sectors ·        Ammonia

·        Transportation

·        Chemicals

·        Power

·        Oil Refining

·        Synthetic Fuels

·        Gas Grid

Key Upcoming Projects ·        Western Green Energy Hydrogen Plant

·        Australian Renewable Energy Hub Hydrogen Plant

·        H2Perth Green Hydrogen Plant 2

·        Desert Bloom Hydrogen Project Phase 2

·        H2Perth Green Hydrogen Plant 3

Key Companies ·        Provaris Energy Ltd

·        Incitec Pivot Ltd

·        ReNu Energy Ltd

·        Worley Ltd

·        ADX Energy Ltd

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Australia hydrogen market research report offers hydrogen market analysis in the region, total upcoming capacity, and 2030 market size scenarios, highlighting recently announced projects by capacity. The report also offers insights into the demand for hydrogen across different application sectors with national and regional policy support and financial incentives.

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Australia’s Largest Upcoming Hydrogen Projects

Some of the largest upcoming hydrogen projects in Australia are the Western Green Energy Hydrogen Plant, Australian Renewable Energy Hub Hydrogen Plant, H2Perth Green Hydrogen Plant 2, Desert Bloom Hydrogen Project Phase 2, and H2Perth Green Hydrogen Plant 3 among others. The Western Green Energy Hydrogen Plant is Australia’s largest hydrogen production facility. Theplant has a capacity of 3.5mtpa and is at its feasibility stage. It is expected to commission operations by 2030.

Australia Hydrogen Market Analysis by Upcoming Hydrogen Projects

Australia Hydrogen Market Analysis by Upcoming Hydrogen Projects

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Australia Hydrogen Market Segmentation by Use Sectors

Ammonia is the most common end-use sector for hydrogen produced in Australia in 2023.

The key use sectors for all active and upcoming low-carbon plants in Australia include transportation, ammonia, chemicals, power, oil refining, synthetic fuels, and gas grid among others. Ammonia will continue to be the largest end-use sector by hydrogen production capacity in the region due to a small number of large projects. Much of the low-carbon ammonia produced would likely be used within domestic markets for fertilizer, high-value chemical products, or as a hydrogen carrier.

Australia Hydrogen Market Analysis by Use Sectors, 2023 (%)

Australia Hydrogen Market Analysis by Use Sectors, 2023 (%)

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Australia Hydrogen Market – Regional Policies and Strategies

New South Wales Hydrogen Strategy: In New South Wales, tech vouchers can be used to fund small and medium companies for co-partnered pilots or research projects with CSIRO and/or universities. In addition, according to the policy Published in October 2021, the current goals are to reduce the cost of green hydrogen to less than $6 in the next decade, provide incentives to support industry development and achieve 2030 stretch targets of 110,000 tonnes of green hydrogen production annually and 700MW of electrolyzer capacity.

Australia Hydrogen Market – Competitive Landscape

Australia’s hydrogen market is experiencing increasing investment witnessing a rise in engagement from the private sector. Some of the key companies in the Australian hydrogen market are Provaris Energy Ltd, Incitec Pivot Ltd, ReNu Energy Ltd, Worley Ltd, and ADX Energy Ltd among others. Provaris Energy Ltd recorded the most mentions of hydrogen in filings between 2021 and 2023.

Australia Hydrogen Market Analysis by Companies, 2023 (%)

Australia Hydrogen Market Analysis by Companies, 2023 (%)

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Scope

  • Hydrogen country market analysis
  • Total upcoming capacity and 2030 market size scenarios, highlighting recently announced projects by capacity
  • Demand across different application sectors
  • National and regional policy support and financial incentives

Key Highlights

  • Australia currently has a low standing within the global hydrogen market.
  • A positive signal for the country’s domestic hydrogen market is the significant proportion of its projects being within a relatively advanced stage of development relative to the global market.
  • Unsurprisingly, leading hydrogen project developer Provaris Energy Ltd recorded the most mentions of hydrogen within its filings, accounting for 289 mentions between 2021 and 2023.

Reasons to Buy

  • Identify the market trends within the country and key players in hydrogen technologies.
  • Develop market insight of current, development announced capacity and latest trends of the sector.
  • Understand the region’s different scenarios for 2030 based on the likeliness of the projects.
  • Look at the demand in key application areas for the region.
  • Facilitate the understanding of how and where the market is growing as it is rapidly scaling up to position as one of the main topics of the international and national agenda.

CWP Global
Intercontinental Energy Corp
Mining Green Energy Ltd
BP Plc
Macquaire Group
Woodside Energy Group Ltd
Aqua Aerem Pty Ltd
Copenhagen Infrastructure Partners KS
Hydrogen Renewables Australia
Eren Groupe SA
Province Resources Ltd
TotalEnergies SE
Hydrogen Utility Pty Ltd
Iwatini Corp
Kawasaki Heavy Industries
Keppel Corp Ltd
Marubeni Corp
Stanwell Corp Ltd
The Kansai Electric Power Co Inc.
AGL Energy Ltd
Fortescue Future Industries Pty Ltd
Southern Oil Refining
ENGIE Renewables Australia
Mitsuit and Co
Yara International ASA
Iberdrola Australia
ABEL Energy
Hydrogen Fuels Australia
CLARA Energy
Frontier Energy
Hysata
Provaris Energy Ltd
Incitec Pivot Ltd
ReNu Energy Ltd
Pilot Energy Ltd
Worley Ltd
Origin Energy Ltd
Viva Energy Group Ltd
Hazer Group Ltd
Eden Innovations
Engie SA
John Wood Group Plc
APA Group
Plug Power Inc
RWE AG
Ampol Ltd
Petrofac

Table of Contents

  • 1. Overview

    • 1.1. Executive summary
    • 1.2. Snapshot of the low carbon hydrogen market

  • 2. Global Context

    • 2.1. Global vs Australia hydrogen production capacity
    • 2.2. The world’s largest upcoming hydrogen projects

  • 3. The Australian Hydrogen Market

    • 3.1. 2030 capacity scenarios
    • 3.2. Australia’s largest upcoming low carbon hydrogen projects
    • 3.3. Low carbon hydrogen competitiveness drivers

  • 4. Hydrogen Policy

    • 4.1. National hydrogen strategies and funding
    • 4.2. Regional hydrogen policy
    • 4.3. Hydrogen hub case study

  • 5. Signals and Players

    • 5.1. A snapshot of Australia’s hydrogen deals
    • 5.2. Australia’s top five hydrogen deals by value
    • 5.3. Company activity across alternative datasets

  • 6. Demand in Key Application Areas

    • 6.1. Intended hydrogen use sectors
    • 6.2. Examples of hydrogen development in Australia across sectors

  • 7. Contact Us

Table

Australia’s largest upcoming low carbon hydrogen projects

Examples of hydrogen developments in Australia across sectors

Australia’s top five hydrogen deals by value

Figures

A snapshot of the low carbon hydrogen market

Australia vs global low carbon hydrogen capacity by development stage

The world’s largest upcoming hydrogen projects

Australia low carbon hydrogen scenarios, 2020 – 2030

Australia Solar Resources

Australia Wind Resources

Average LCOE – Australia

Target end use sectors based on current pipeline of low carbon hydrogen plants as of September 2023

Outline of Yuri project Pilbara hydrogen plant

A snapshot of Australia’s hydrogen deals

Top 10 Australia headquartered companies by mentions of hydrogen in filings, 2021 – Oct O2023

Top 10 companies by hydrogen related jobs based in Australia, 2020 – Oct 2023

Frequently asked questions

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