The global Hydrogen Gas Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Distribution (Pipelines, High-Pressure Tube Trailers, Cylinders), By Application (Ammonia, Methanol, Refining, Direct Reduced Iron (DRI), Fuel Cell Vehicles (FCV), Others).
Hydrogen gas is an essential industrial gas used in a wide range of applications, including chemical synthesis, refining, electronics, metallurgy, food processing, and energy production in 2024. It is produced through various methods, including steam methane reforming, electrolysis of water, coal gasification, and biomass conversion. Hydrogen gas is valued for its versatility, high energy density, and environmentally friendly properties, making it a key component in the transition to a low-carbon economy. In the chemical industry, hydrogen gas is used as a feedstock for the production of ammonia, methanol, hydrogen peroxide, and other chemicals. It serves as a reducing agent in numerous chemical processes, such as hydrocracking, hydrogenation, and desulfurization, enabling the synthesis of valuable products and intermediates. In the refining industry, hydrogen gas is used to remove sulfur impurities from petroleum feedstocks, upgrade heavy oils, and produce cleaner fuels with lower sulfur content. In the electronics industry, hydrogen gas is employed as a carrier gas for semiconductor manufacturing processes such as epitaxy, annealing, and deposition. In the metallurgical industry, hydrogen gas is utilized for heat treatment, welding, and metal production processes. With the growing emphasis on renewable energy and decarbonization, hydrogen gas is gaining traction as a clean and sustainable energy carrier for fuel cell vehicles, stationary power generation, and energy storage applications. As research and development efforts to advance hydrogen production, storage, and utilization technologies, hydrogen gas is expected to play a significant role in shaping the future of energy and industry.
The market report analyses the leading companies in the industry including Aditya Birla Chemicals, Air Liquide, Air Products and Chemicals Inc, BASF SE, Equinor ASA, Gujarat Alkalies and Chemicals Ltd, Gulf Cryo, Linde plc, Lords Chloro Alkali Ltd, Matheson Tri-Gas Inc, Messer SE & Co. KGaA, PAO Novatek, Taiyo Nippon Sanso Corp, Universal Industrial Gases Inc, and others.
A significant trend in the hydrogen gas market is the transition towards hydrogen as a clean energy carrier. With the increasing focus on decarbonization and renewable energy, hydrogen is gaining traction as a versatile and sustainable fuel source with applications across various sectors including transportation, industry, and power generation. Governments and industries worldwide are investing in hydrogen production, distribution infrastructure, and fuel cell technology to facilitate the transition towards a low-carbon economy. This trend towards hydrogen as a clean energy carrier is driving market growth and shaping the future of the hydrogen gas industry.
A key driver fueling the hydrogen gas market is advancements in hydrogen production technologies. With the development of renewable energy sources such as wind, solar, and hydroelectric power, there is an increasing availability of low-cost electricity for electrolysis, the process of splitting water into hydrogen and oxygen. Additionally, innovations in steam methane reforming (SMR), biomass gasification, and other hydrogen production methods are improving efficiency, lowering costs, and reducing greenhouse gas emissions associated with hydrogen production. The scalability and flexibility of these production technologies enable hydrogen to be produced on-site or centrally, catering to diverse applications and market demands, thus driving the growth of the hydrogen gas market.
A promising opportunity for the hydrogen gas market lies in expansion into fuel cell vehicles (FCVs) and energy storage applications. Hydrogen fuel cell technology offers a clean and efficient alternative to conventional internal combustion engines, with zero emissions and longer driving ranges. As automakers and governments increasingly prioritize zero-emission transportation solutions, the demand for hydrogen as a fuel for FCVs is expected to rise, driving the need for hydrogen fueling infrastructure and hydrogen gas supply. Additionally, hydrogen has the potential to play a significant role in energy storage and grid balancing, enabling the integration of renewable energy sources and providing grid stability during peak demand periods. By capitalizing on the growing demand for hydrogen in FCVs and energy storage applications, hydrogen gas suppliers can unlock new revenue streams and drive further growth in the hydrogen gas market.
The "Pipelines" segment is the largest segment in the hydrogen gas market, commanding a significant share due to its widespread use and advantages. Pipelines are the primary mode of distribution for hydrogen gas, particularly in industrial applications and large-scale hydrogen production facilities. Pipelines offer potential advantages over other distribution methods, including cost-effectiveness, efficiency, and reliability. They enable continuous and bulk transportation of hydrogen gas over long distances with minimal loss or leakage, ensuring a steady supply to end-users. Moreover, pipelines facilitate seamless integration with existing infrastructure, such as refineries, chemical plants, and industrial complexes, making them the preferred choice for large-scale hydrogen distribution networks. Additionally, advancements in pipeline technology, including materials and corrosion protection methods, further enhance their reliability and safety in transporting hydrogen gas. As industries continue to invest in hydrogen as a clean energy carrier and governments promote hydrogen infrastructure development to achieve carbon neutrality goals, the demand for pipelines for hydrogen distribution is expected to remain robust, solidifying their leadership position in the market.
Fuel cell vehicles (FCVs) represent the fastest-growing segment within the hydrogen gas market. In particular, the global push towards decarbonization and reducing greenhouse gas emissions has prompted a surge in interest in alternative fuel technologies, with hydrogen being a most lucrative segment due to its zero-emission profile when used in fuel cells. In addition, advancements in fuel cell technology, including improved efficiency and reduced costs, have made FCVs increasingly viable for mass adoption. Additionally, governments worldwide are implementing supportive policies and incentives to encourage the development and adoption of FCVs, such as subsidies, tax breaks, and infrastructure investments. Major automotive manufacturers are also ramping up their efforts to commercialize FCVs, with plans to expand production and launch new models, further driving growth in this segment. As infrastructure for hydrogen refuelling stations continues to expand, FCVs are poised to become a prominent player in the automotive market, offering a sustainable alternative to traditional internal combustion engine vehicles.
By Distribution
Pipelines
High-Pressure Tube Trailers
Cylinders
By Application
Ammonia
Methanol
Refining
Direct Reduced Iron (DRI)
Fuel Cell Vehicles (FCV)
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Aditya Birla Chemicals
Air Liquide
Air Products and Chemicals Inc
BASF SE
Equinor ASA
Gujarat Alkalies and Chemicals Ltd
Gulf Cryo
Linde plc
Lords Chloro Alkali Ltd
Matheson Tri-Gas Inc
Messer SE & Co. KGaA
PAO Novatek
Taiyo Nippon Sanso Corp
Universal Industrial Gases Inc
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Hydrogen Gas Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Hydrogen Gas Market Size Outlook, $ Million, 2021 to 2032
3.2 Hydrogen Gas Market Outlook by Type, $ Million, 2021 to 2032
3.3 Hydrogen Gas Market Outlook by Product, $ Million, 2021 to 2032
3.4 Hydrogen Gas Market Outlook by Application, $ Million, 2021 to 2032
3.5 Hydrogen Gas Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Hydrogen Gas Industry
4.2 Key Market Trends in Hydrogen Gas Industry
4.3 Potential Opportunities in Hydrogen Gas Industry
4.4 Key Challenges in Hydrogen Gas Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Hydrogen Gas Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Hydrogen Gas Market Outlook by Segments
7.1 Hydrogen Gas Market Outlook by Segments, $ Million, 2021- 2032
By Distribution
Pipelines
High-Pressure Tube Trailers
Cylinders
By Application
Ammonia
Methanol
Refining
Direct Reduced Iron (DRI)
Fuel Cell Vehicles (FCV)
Others
8 North America Hydrogen Gas Market Analysis and Outlook To 2032
8.1 Introduction to North America Hydrogen Gas Markets in 2024
8.2 North America Hydrogen Gas Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Hydrogen Gas Market size Outlook by Segments, 2021-2032
By Distribution
Pipelines
High-Pressure Tube Trailers
Cylinders
By Application
Ammonia
Methanol
Refining
Direct Reduced Iron (DRI)
Fuel Cell Vehicles (FCV)
Others
9 Europe Hydrogen Gas Market Analysis and Outlook To 2032
9.1 Introduction to Europe Hydrogen Gas Markets in 2024
9.2 Europe Hydrogen Gas Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Hydrogen Gas Market Size Outlook by Segments, 2021-2032
By Distribution
Pipelines
High-Pressure Tube Trailers
Cylinders
By Application
Ammonia
Methanol
Refining
Direct Reduced Iron (DRI)
Fuel Cell Vehicles (FCV)
Others
10 Asia Pacific Hydrogen Gas Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Hydrogen Gas Markets in 2024
10.2 Asia Pacific Hydrogen Gas Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Hydrogen Gas Market size Outlook by Segments, 2021-2032
By Distribution
Pipelines
High-Pressure Tube Trailers
Cylinders
By Application
Ammonia
Methanol
Refining
Direct Reduced Iron (DRI)
Fuel Cell Vehicles (FCV)
Others
11 South America Hydrogen Gas Market Analysis and Outlook To 2032
11.1 Introduction to South America Hydrogen Gas Markets in 2024
11.2 South America Hydrogen Gas Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Hydrogen Gas Market size Outlook by Segments, 2021-2032
By Distribution
Pipelines
High-Pressure Tube Trailers
Cylinders
By Application
Ammonia
Methanol
Refining
Direct Reduced Iron (DRI)
Fuel Cell Vehicles (FCV)
Others
12 Middle East and Africa Hydrogen Gas Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Hydrogen Gas Markets in 2024
12.2 Middle East and Africa Hydrogen Gas Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Hydrogen Gas Market size Outlook by Segments, 2021-2032
By Distribution
Pipelines
High-Pressure Tube Trailers
Cylinders
By Application
Ammonia
Methanol
Refining
Direct Reduced Iron (DRI)
Fuel Cell Vehicles (FCV)
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Aditya Birla Chemicals
Air Liquide
Air Products and Chemicals Inc
BASF SE
Equinor ASA
Gujarat Alkalies and Chemicals Ltd
Gulf Cryo
Linde plc
Lords Chloro Alkali Ltd
Matheson Tri-Gas Inc
Messer SE & Co. KGaA
PAO Novatek
Taiyo Nippon Sanso Corp
Universal Industrial Gases Inc
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Distribution
Pipelines
High-Pressure Tube Trailers
Cylinders
By Application
Ammonia
Methanol
Refining
Direct Reduced Iron (DRI)
Fuel Cell Vehicles (FCV)
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Hydrogen Gas Market Size is valued at $286 Billion in 2024 and is forecast to register a growth rate (CAGR) of 7.9% to reach $525.5 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Aditya Birla Chemicals, Air Liquide, Air Products and Chemicals Inc, BASF SE, Equinor ASA, Gujarat Alkalies and Chemicals Ltd, Gulf Cryo, Linde plc, Lords Chloro Alkali Ltd, Matheson Tri-Gas Inc, Messer SE & Co. KGaA, PAO Novatek, Taiyo Nippon Sanso Corp, Universal Industrial Gases Inc
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume