Hydrogen Transition Market Outlook and Trends, Deals, Contracts, Policies, Projects and Key Players, Q1 2024
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Hydrogen Transition Market Report Overview
The total active and pipeline capacity of low-carbon hydrogen projects is 201 mtpa as of January 2024, of which 92% comes from green plants and the remaining from blue plants. Many regions of the world with ample renewable resources are pursuing large-scale green hydrogen projects to capitalize on the falling cost of producing renewable energy. Post-feasibility projects (projects within the FEED, approval, construction, and commissioning stages) will add another 30 mtpa to the total capacity.
Furthermore, the pipeline of upcoming green projects represents 1,325 GW of electrolyser capacity, while upcoming blue projects would incorporate over 108 million tonnes of CCS capacity.
The hydrogen transition market research report offers a detailed hydrogen market analysis in Q1 2024. The report outlines total upcoming capacity and 2030 market size scenarios, highlighting recently announced projects by capacity. The report also offers insights into the deals and contracts scenario for hydrogen across different application sectors with global policy support and financial incentives.
Total Active and Pipeline Capacity (January 2024) | 201 mtpa |
Key Hydrogen Plants | GHI Spirit of Scotia Hydrogen Hub Project, GHI Fleur-de-lys Green Hydrogen Hub Project, H2 Clean Energy Penzhinskaya Bay Hydrogen Plant, Western Green Energy Hydrogen Plant, and GHI Hydrogen City Texas Project Phase 2 |
Key Countries | · Canada
· Australia · Mauritania · Russia · The US · Egypt |
Key Deals | Mergers & Acquisitions (M&A), Venture Finance, and Partnerships |
Leading Companies | · Green Hydrogen International
· GreenGo Energy Group A/S · Fortescue Future Industries Pty Ltd · CWP Global · Jerrard Energy Resources Ltd · BP Plc · H2 Clean Energy · Shell plc · Siemens AG |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Buy the Full Report for More Insights on the Hydrogen Transition Market Insights
Hydrogen Transition Market Segmentation by Plants
The key plants having the highest hydrogen plant capacity are GHI Spirit of Scotia Hydrogen Hub Project, GHI Fleur-de-lys Green Hydrogen Hub Project, H2 Clean Energy Penzhinskaya Bay Hydrogen Plant, Western Green Energy Hydrogen Plant, and GHI Hydrogen City Texas Project Phase 2 among others.
Buy the Full Report for More Insights on the Major Upcoming Projects in the Hydrogen Transition Market
Hydrogen Transition Market Segmentation by Countries
The key countries having the highest cumulative hydrogen capacity are Canada, Australia, Mauritania, Russia, the US, and Egypt, among others. Canada leads in terms of capacity by a large margin, with over 90 mtpa across 70 different hydrogen hubs. Australia follows with 186 projects and almost 13 mtpa capacity.
Hydrogen Transition Market Analysis by Countries, Q4 2023 (%)
Buy the Full Report for More Country-Level Insights into the Hydrogen Transition Market, Download A Free Report Sample
Hydrogen Transition Market Segmentation by Deals
The number of deals related to hydrogen is increasing every year to strengthen hydrogen deployment and support related investments. Hydrogen deal values declined considerably compared to the previous year, reflecting the tough macroeconomic environment. Just one partnership took place in Q4 2023, revealing a fall in collaboration between hydrogen players towards the end of the year.
Hydrogen Transition Market Analysis by Deals, Q4 2023 (%)
Buy the Full Report for more Insights into the Hydrogen Transition Market Deal Types
Hydrogen Transition Market – Competitive Landscape
Companies have added low carbon capacity to their pipelines based on their participation share across all projects. As hydrogen pipeline increase, so does the interest across different companies to participate or own a low-carbon hydrogen project. A common company strategy is to participate in multiple project investments across global regions, as hydrogen development support in each region is different. For instance, Fortescue Industries, despite being an Australia-based company, two-thirds of its projects are based outside Australia. As a result, the company leads in terms of the number of projects with 45 active and upcoming hydrogen plants.
A few leading companies in the hydrogen transition market are Green Hydrogen International, GreenGo Energy Group A/S, Fortescue Future Industries Pty Ltd, CWP Global, Jerrard Energy Resources Ltd, BP Plc, H2 Clean Energy, Shell plc, and Siemens AG. Green Hydrogen International continues to have the highest amount of proposed capacity with 87 mtpa related to two projects in Canada.
Hydrogen Transition Market Analysis by Companies, Q4 2023 (%)
Buy the Full Report to Know More About the Leading Companies in the Hydrogen Transition Market
Segments Covered in the Report
Hydrogen Transition Country-Level Outlook (mtpa, Q3 2023)
- Canada
- Australia
- United States
- Russia
- Egypt
Hydrogen Transition Deals Outlook (2021 -2023)
- Mergers & Acquisitions (M&A)
- Venture Finance
- Partnerships
Scope
The report provides:
- Hydrogen quarterly changes, Q4 2023.
- Total upcoming capacity and 2030 market size scenarios, highlighting recently announced projects by capacity, countries, and regions.
- Trends over deals, partnerships, and M&A.
- Global policy support and financial incentives.
Key Highlights
• In the 4th quarter of 2023, 3 countries announced new low carbon hydrogen plants. Germany was the chief contributor to capacity announced in this quarter. It also retained its position in the top 10 ranking of countries by active and upcoming hydrogen capacity.
• Canada still leads in terms of capacity by a large margin, with over 90 mtpa across 70 different hydrogen hubs. 10 projects are also already in operation. While Australia follows with 186 projects and almost 13 mtpa capacity.
• Like the previous quarter, the hydrogen deal count in Q4 2023 was lower than previously seen earlier in 2023 and demonstrated a percentage decrease of 58% compared to the previous year.
Reasons to Buy
- Identify the last market trends by quarter and key players in hydrogen technologies.
- Develop market insight of current, in development, and announced capacity and latest trends of the sector.
- Understand the different scenarios for 2030 based on the likeliness of the projects.
- 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 agenda.
Table of Contents
Table
Figures
Frequently asked questions
-
What was the total active and pipeline capacity of low-carbon hydrogen projects in January 2024?
The total active and pipeline capacity of low-carbon hydrogen projects was 201 mtpa as of January 2024.
-
Which country had the highest hydrogen capacity in Q4 2023?
Canada leads in terms of capacity by a large margin, with over 90 mtpa across 70 different hydrogen hubs as of Q4 2023.
-
Which deal type accounted for the highest share of the hydrogen transition market in Q4 2023?
Partnership deal type led the hydrogen transition market in Q4 2023.
-
Which company led the hydrogen transition market?
Green Hydrogen International has the highest amount of proposed capacity with 87 mtpa related to two projects in Canada.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.