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Blue Hydrogen Market by Technology (Steam Methane Reforming (SMR), Gas Partial Oxidation (POX), Auto Thermal Reforming (ATR)), End User (Petroleum Refineries, Chemical Industry, Power Generation Facilities) and Region - Forecast to 2030

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    Report

  • 153 Pages
  • November 2022
  • Region: Global
  • Markets and Markets
  • ID: 5700717

Increasing Number of Government Initiatives Concerning Development of Hydrogen-Based Economies

Hydrogen has long been recognized as a possible low-carbon transportation fuel. The market has a promising growth potential due to several factors, including the role of blue hydrogen in carbon emission reduction, an increase in the demand for fuel cell-based electric vehicles, and a shift toward a hydrogen-based economy. The global blue hydrogen market is projected to reach USD 44.5 Billion by 2030, growing at a CAGR of 11.9% during the forecast period. 

SMR: The fastest growing segment of blue hydrogen market, by technology.

The steam methane reforming segment accounted for the largest market share of the blue hydrogen market in 2021. SMR is a cost- and energy-efficient method of producing hydrogen. It is commonly used due to the easy availability of raw materials (methane). These factors are responsible for the growth of the segment

Petroleum Refinery: The fastest growing segment of hydrogen energy storage market, by end user.

The petroleum refinery segment is estimated to grow at the highest CAGR from 2022 to 2030. This growth can be attributed to the global rise in oil and natural gas demand for various applications, such as plastic production, transportation, and electricity generation.

North America: The fastest-growing region in the hydrogen energy storage market. 

The North American region is estimated to be the largest market for the blue hydrogen market, followed by Europe. The growth of the North American region can be attributed to the increasing demand for hydrogen fuel cell-based vehicles and the number of hydrogen filling stations in the US and Canada.

Breakdown of Primaries:

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows: 

  • By Company Type: Tier I-65%, Tier II-24%, and Tier III-11%
  • By Designation: C-Level Executives-30%, Director Level-25%, and Others-45%
  • By Region: Asia Pacific - 36%, North America - 30%, Europe - 21%, Middle East - 7%, Africa - 6%

The blue hydrogen market is dominated by a few globally established players such as Siemens (Germany), Linde plc (Ireland), ENGIE (France), Air Liquide (France), and Air Products Inc. (US).

Research Coverage:

The report segments the blue hydrogen market and forecasts its size based on Technology (SMR, ATR, POX), End User (Petroleum Refinery, Chemical Industry, Power Generation, and Others), and region (Europe, Asia Pacific, North America, and RoW).

The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the blue hydrogen market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets. 

Key Benefits of Buying the Report

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition and Scope
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Regional Scope
1.3.3 Years Considered
1.4 Currency Considered
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Data Triangulation
2.2.1 Secondary Data
2.2.1.1 Key Data from Secondary Sources
2.2.2 Primary Data
2.2.2.1 Key Data from Primary Sources
2.2.2.2 Breakdown of Primaries
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.3.3 Demand-Side Metrics
2.3.3.1 Assumptions
2.3.4 Supply-Side Analysis
2.3.4.1 Assumptions and Calculations
2.3.5 Forecast

3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Blue Hydrogen Market
4.2 Blue Hydrogen Market, by Region
4.3 Market in North America, by End-User and Country
4.4 Market, by Technology
4.5 Market, by End-User

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Regulations Concerning Ghg Emissions
5.2.1.2 Rising Applications of Hydrogen in FCEVs
5.2.2 Restraints
5.2.2.1 Energy Loss During Hydrogen Production
5.2.3 Opportunities
5.2.3.1 Increasing Number of Government Initiatives Concerning Development of Hydrogen-Based Economies
5.2.3.2 Rising Focus of Governments on Achieving Net Zero Emission Targets by 2050
5.2.4 Challenges
5.2.4.1 Integration of Hydrogen into Natural Gas Networks
5.3 Trends/Disruptions Impacting Customer Business
5.3.1 Revenue Shift and New Revenue Pockets for Customers
5.4 Trade Analysis
5.4.1 Export Scenario
5.4.2 Import Scenario
5.5 Pricing Analysis
5.5.1 Indicative Pricing Analysis, by Technology
5.6 Technology Analysis
5.7 Key Conferences and Events, 2022-2023
5.8 Supply Chain Analysis
5.9 Market Map/Ecosystem
5.10 Innovations and Patent Registrations
5.10.1 List of Major Patents
5.11 Tariffs and Regulatory Framework
5.11.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.11.2 Blue Hydrogen Market: Regulatory Framework
5.12 Porter's Five Forces Analysis
5.12.1 Threat of New Entrants
5.12.2 Bargaining Power of Suppliers
5.12.3 Bargaining Power of Buyers
5.12.4 Threat of Substitutes
5.12.5 Intensity of Competitive Rivalry
5.13 Key Stakeholders and Buying Criteria
5.13.1 Key Stakeholders in Buying Process
5.13.2 Buying Criteria

6 Blue Hydrogen Market, by Technology
6.1 Introduction
6.2 Steam Methane Reforming
6.2.1 Rising Adoption of Smr Technology in Chemical Industry and Petroleum Refinery
6.3 Auto Thermal Reforming
6.3.1 Increasing Demand for Synthesis Gases, Especially in Power Generation
6.4 Gas Partial Oxidation
6.4.1 Growing Use of Gas Partial Oxidation Technology in Energy Transition Industry

7 Hydrogen Generation Market, by End-User
7.1 Introduction
7.2 Petroleum Refinery
7.2.1 Growing Demand for Hydrogen to Reduce Sulfur Contents and Other Contaminants
7.3 Chemical Industry
7.3.1 Rising Demand for Ammonia Used in Fertilizers and Power Generation
7.4 Power Generation
7.4.1 Increasing Installations of Hydrogen Fuel Cells
7.5 Others

8 Geographic Analysis
8.1 Introduction
8.2 North America
8.2.1 by End-User
8.2.2 by Country
8.2.2.1 US
8.2.2.1.1 Rising Demand for Hydrogen in Petroleum Refineries and Fertilizer Production
8.2.2.2 Canada
8.2.2.2.1 Growing Focus on Developing Sustainable Hydrogen Economy
8.3 Europe
8.3.1 by End-User
8.3.2 by Country
8.3.2.1 UK
8.3.2.1.1 Increasing Focus on Reducing Natural Gas Imports
8.3.2.2 France
8.3.2.2.1 Rising Investments in Renewable Energy Generation
8.3.2.3 Netherlands
8.3.2.3.1 Dependence on Fossil Fuels and Growing Ammonia Consumption
8.3.2.4 Norway
8.3.2.4.1 Significant Presence of Gas Fields to Provide Lucrative Growth Opportunities
8.3.2.5 Rest of Europe
8.4 Asia-Pacific
8.4.1 by End-User
8.4.2 by Country
8.4.2.1 Japan
8.4.2.1.1 Increasing Demand for Hydrogen Fuel Cell-Based Vehicles
8.4.2.2 China
8.4.2.2.1 Rising Hydrogen Demand for Ammonia Production
8.4.2.3 India
8.4.2.3.1 Growing Demand for Hydrogen to Increase Refining Capacities
8.4.2.4 Australia
8.4.2.4.1 Surging Investments in Hydrogen Generation Projects
8.4.2.5 South Korea
8.4.2.5.1 Implementation of Mandates to Decarbonize Energy Sector
8.4.2.6 New Zealand
8.4.2.6.1 Upcoming Projects, Coupled with Government Initiatives to Drive Demand
8.4.2.7 Rest of Asia-Pacific
8.5 RoW
8.5.1 by End-User
8.5.2 by Country
8.5.2.1 Uae
8.5.2.1.1 Increasing Use of Hydrogen Fuel for Electricity Generation
8.5.2.2 Saudi Arabia
8.5.2.2.1 Rising Export of Ammonia in Gulf Region
8.5.2.3 Oman
8.5.2.3.1 Surging Foreign Investments in Ammonia Production
8.5.2.4 Botswana
8.5.2.4.1 Growing Demand for Refined Petroleum Products
8.5.2.5 Brazil
8.5.2.5.1 Increasing Demand for Clean Hydrogen in Transportation Sector

9 Competitive Landscape
9.1 Overview
9.2 Share Analysis of Key Players, 2021
9.3 Market Evaluation Framework
9.4 Segmental Revenue Analysis of Top Market Players, 2017-2021
9.5 Recent Developments
9.5.1 Deals
9.5.2 Others
9.6 Competitive Leadership Mapping
9.6.1 Stars
9.6.2 Emerging Leaders
9.6.3 Pervasive Players
9.6.4 Participants

10 Company Profiles
10.1 Key Companies
10.1.1 Dastur Energy
10.1.1.1 Business Overview
10.1.1.2 Products/Services Offered
10.1.1.3 Recent Developments
10.1.1.4 Analyst's View
10.1.1.4.1 Right to Win
10.1.1.4.2 Strategic Choices Made
10.1.1.4.3 Weaknesses and Competitive Threats
10.1.2 Shell plc
10.1.2.1 Business Overview
10.1.2.2 Products/Services Offered
10.1.2.3 Recent Developments
10.1.2.4 Analyst's View
10.1.2.4.1 Right to Win
10.1.2.4.2 Strategic Choices Made
10.1.2.4.3 Weaknesses and Competitive Threats
10.1.3 Linde plc
10.1.3.1 Business Overview
10.1.3.2 Products/Services Offered
10.1.3.3 Recent Developments
10.1.3.4 Analyst's View
10.1.3.4.1 Right to Win
10.1.3.4.2 Strategic Choices Made
10.1.3.4.3 Weaknesses and Competitive Threats
10.1.4 Air Products and Chemicals Inc.
10.1.4.1 Business Overview
10.1.4.2 Products/Services Offered
10.1.4.3 Recent Developments
10.1.4.4 Analyst's View
10.1.4.4.1 Right to Win
10.1.4.4.2 Strategic Choices Made
10.1.4.4.3 Weaknesses and Competitive Threats
10.1.5 Aker Solutions
10.1.5.1 Business Overview
10.1.5.2 Products/Services Offered
10.1.5.3 Recent Developments
10.1.5.4 Analyst's View
10.1.5.4.1 Right to Win
10.1.5.4.2 Strategic Choices Made
10.1.5.4.3 Weaknesses and Competitive Threats
10.1.6 Exxon Mobil Corporation
10.1.6.1 Business Overview
10.1.6.2 Products/Services Offered
10.1.6.3 Recent Developments
10.1.7 Equinor Asa
10.1.7.1 Business Overview
10.1.7.2 Products/Services Offered
10.1.7.3 Recent Developments
10.1.8 Uniper Se
10.1.8.1 Business Overview
10.1.8.2 Products/Services Offered
10.1.8.3 Recent Developments
10.1.9 Topsoe
10.1.9.1 Business Overview
10.1.9.2 Products/Services Offered
10.1.9.3 Recent Developments
10.1.10 Aquaterra Energy Limited
10.1.10.1 Business Overview
10.1.10.2 Products/Services Offered
10.1.11 Petrofac Limited
10.1.11.1 Business Overview
10.1.11.2 Products/Services Offered
10.1.12 Bp P.L.C.
10.1.12.1 Business Overview
10.1.12.2 Products/Services Offered
10.1.12.3 Recent Developments
10.1.13 Eni
10.1.13.1 Business Overview
10.1.13.2 Products/Services Offered
10.1.13.3 Recent Developments
10.1.14 Johnson Matthey
10.1.14.1 Business Overview
10.1.14.2 Products/Services Offered
10.1.14.3 Recent Developments
10.1.15 Technip Energies N.V.
10.1.15.1 Business Overview
10.1.15.2 Products/Services Offered
10.1.15.3 Recent Developments
10.2 Other Players
10.2.1 Engie
10.2.2 Thyssenkrupp Ag
10.2.3 Ineos
10.2.4 the State Atomic Energy Corporation
10.2.5 Xebec Adsorption Inc.

11 Appendix
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Knowledgestore: Subscription Portal
11.4 Customization Options
11.5 Related Reports
11.6 Author Details

List of Tables (98 Tables)
Table 1 Blue Hydrogen Market: Snapshot
Table 2 Policies Implemented by Major Economies to Boost Hydrogen Demand
Table 3 Export Scenario for Hs Code: 280410, by Country, 2019-2021 (USD)
Table 4 Import Scenario for Hs Code: 280410, by Country, 2019-2021 (USD)
Table 5 Market: Detailed List of Conferences and Events
Table 6 Blue Hydrogen Market: Ecosystem
Table 7 Market: Innovations and Patent Registrations
Table 8 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 Regulatory Framework: Market, by Region
Table 12 Market: Porter's Five Forces Analysis
Table 13 Influence of Stakeholders on Buying Process, by End-User
Table 14 Key Buying Criteria, by End-User
Table 15 Blue Hydrogen Market, by Technology, 2020-2030 (USD Million)
Table 16 Market, by Technology, 2020-2030 (Thousand Metric Tons)
Table 17 Market, by End-User, 2020-2030 (USD Million)
Table 18 Market, by End-User, 2020-2030 (Thousand Metric Tons)
Table 19 Petroleum Refinery: Blue Hydrogen Market, by Region,  2020-2030 (USD Million)
Table 20 Chemical Industry: Market, by Region,  2020-2030 (USD Million)
Table 21 Power Generation: Market, by Region,  2020-2030 (USD Million)
Table 22 Others: Market, by Region, 2020-2030 (USD Million)
Table 23 Blue Hydrogen Market, by Region, 2020-2030 (Thousand Metric Tons)
Table 24 Market, by Region, 2020-2030 (USD Million)
Table 25 North America: Market, by End-User, 2020-2030 (USD Million)
Table 26 North America: Market, by Country,  2020-2030 (Thousand Metric Tons)
Table 27 North America: Market, by Country, 2020-2030 (USD Million)
Table 28 Us: Market, by End-User, 2020-2030 (USD Million)
Table 29 Canada: Market, by End-User, 2020-2030 (USD Million)
Table 30 Europe: Blue Hydrogen Market, by End-User, 2020-2030 (USD Million)
Table 31 Europe: Market, by Country, 2020-2030  (Thousand Metric Tons)
Table 32 Europe: Market, by Country, 2020-2030 (USD Million)
Table 33 Uk: Market, by End-User, 2020-2030 (USD Million)
Table 34 France: Market, by End-User, 2020-2030 (USD Million)
Table 35 Netherlands: Market, by End-User, 2020-2030 (USD Million)
Table 36 Norway: Market, by End-User, 2020-2030 (USD Million)
Table 37 Rest of Europe: Market, by End-User, 2020-2030 (USD Million)
Table 38 Asia-Pacific: Blue Hydrogen Market, by End-User, 2020-2030 (USD Million)
Table 39 Asia-Pacific: Market, by Country, 2020-2030  (Thousand Metric Tons)
Table 40 Asia-Pacific: Market, by Country, 2020-2030 (USD Million)
Table 41 Japan: Market, by End-User, 2020-2030 (USD Million)
Table 42 China: Market, by End-User, 2020-2030 (USD Million)
Table 43 India: Market, by End-User, 2020-2030 (USD Million)
Table 44 Australia: Market, by End-User, 2020-2030 (USD Million)
Table 45 South Korea: Market, by End-User, 2020-2030 (USD Million)
Table 46 New Zealand: Market, by End-User, 2020-2030 (USD Million)
Table 47 Rest of Asia-Pacific: Market, by End-User,  2020-2030 (USD Million)
Table 48 Row: Market, by End-User, 2020-2030 (USD Million)
Table 49 Row: Market, by Country, 2020-2030 (Thousand Metric Tons)
Table 50 Row: Market, by Country, 2020-2030 (USD Million)
Table 51 Uae: Market, by End-User, 2020-2030 (USD Million)
Table 52 Saudi Arabia: Blue Hydrogen Market, by End-User, 2020-2030 (USD Million)
Table 53 Oman: Market, by End-User, 2020-2030 (USD Million)
Table 54 Botswana: Market, by End-User, 2020-2030 (USD Million)
Table 55 Brazil: Blue Hydrogen Market, by End-User, 2020-2030 (USD Million)
Table 56 Key Developments in Blue Hydrogen Market, 2017 to 2022
Table 57 Market: Degree of Competition
Table 58 Market Evaluation Framework, 2017-2021
Table 59 Market: Deals, April 2019-June 2022
Table 60 Market: New Product Launches, November 2020-
Table 61 95
Table 62 Market: Others, September 2021-August 2022
Table 63 Company Technology Footprint
Table 64 Company End-User Footprint
Table 65 Company Region Footprint
Table 66 Dastur Energy: Business Overview
Table 67 Dastur Energy: Deals
Table 68 Shell plc: Business Overview
Table 69 Shell plc: Deals
Table 70 Shell plc: New Product Launches
Table 71 Shell plc: Others
Table 72 Linde plc: Business Overview
Table 73 Linde plc: Others
Table 74 Air Products and Chemicals Inc.: Business Overview
Table 75 Air Products and Chemicals, Inc.: Deals
Table 76 Air Products and Chemicals, Inc.: Others
Table 77 Aker Solutions: Business Overview
Table 78 Aker Solutions: Deals
Table 79 Exxon Mobil Corporation: Business Overview
Table 80 Exxon Mobil Corporation: Deals
Table 81 Equinor Asa: Business Overview
Table 82 Equinor Asa: Deals
Table 83 Uniper Se: Business Overview
Table 84 Uniper Se: Deals
Table 85 Topsoe: Business Overview
Table 86 Topsoe: Deals
Table 87 Aquaterra Energy Limited: Business Overview
Table 88 Petrofac Limited: Business Overview
Table 89 Bp P.L.C: Business Overview
Table 90 Bp P.L.C.: Deals
Table 91 Eni: Business Overview
Table 92 Eni: Deals
Table 93 Johnson Matthey: Business Overview
Table 94 Johnson Matthey: Product Launches
Table 95 Johnson Matthey: Deals
Table 96 Technip Energies N.V.: Business Overview
Table 97 Technip Energies N.V.: Product Launches
Table 98 Technip Energies N.V.: Deals

List of Figures (48 Figures)
Figure 1 Blue Hydrogen Market: Research Design
Figure 2 Data Triangulation Methodology
Figure 3 Breakdown of Primaries: by Company, Designation, and Region
Figure 4 Market: Bottom-Up Approach
Figure 5 Market: Top-Down Approach
Figure 6 Market: Demand-Side Analysis
Figure 7 Key Metrics Considered for Assessing Supply of Blue Hydrogen Solutions
Figure 8 Market: Supply-Side Analysis
Figure 9 Company Revenue Analysis, 2021
Figure 10 North America Held Largest Share of Market  in 2021
Figure 11 Steam Methane Reforming Technology to Lead Market, by Technology, During Forecast Period
Figure 12 Petroleum Refinery Segment to Continue to Hold Largest Market Share, by End-User, During Forecast Period
Figure 13 Growing Need to Reduce Greenhouse Gas Emissions from Hydrogen Production Processes
Figure 14 Blue Hydrogen Market in Europe to Exhibit Highest CAGR During Forecast Period
Figure 15 Petroleum Refinery and Canada Dominated North American Market in 2021
Figure 16 Steam Methane Reforming Accounted for Largest Market Share in 2021
Figure 17 Petroleum Refinery Segment Held Largest Market Share in 2021
Figure 18 Blue Hydrogen Market: Market Dynamics
Figure 19 Global Greenhouse Gas Emissions, by Sector, 2021
Figure 20 Fuel Cell Electric Vehicle Stock, by Region, 2017-2021
Figure 21 Cumulative Emission Reduction, by Mitigation Measure in Net Zero Emission, 2021-2030
Figure 22 Integration of Low-Carbon Hydrogen into Gas Networks,  2018-2021
Figure 23 Revenue Shift for Hydrogen Energy Storage Providers
Figure 24 Revenue Shift for Hydrogen Energy Storage Providers
Figure 25 Market: Supply Chain Analysis
Figure 26 Market: Porter's Five Forces Analysis
Figure 27 Influence of Stakeholders on Buying Process, by End-User
Figure 28 Buying Criteria for Top Three End-Users
Figure 29 Market, by Technology, 2021
Figure 30 Market, by End-User, 2021
Figure 31 European Market to Exhibit Highest Growth During Forecast Period
Figure 32 Market Share, by Region, 2021 (Value)
Figure 33 North America: Blue Hydrogen Market Snapshot
Figure 34 Europe: Market Snapshot
Figure 35 Share Analysis of Top Players in Market, 2021
Figure 36 Top Players Dominated Market in Last Five Years
Figure 37 Market: Competitive Leadership Mapping, 2021
Figure 38 Shell plc: Company Snapshot
Figure 39 Linde plc: Company Snapshot
Figure 40 Air Products and Chemicals, Inc.: Company Snapshot
Figure 41 Aker Solutions: Company Snapshot
Figure 42 Exxon Mobil Corporation: Company Snapshot
Figure 43 Equinor Asa: Company Snapshot
Figure 44 Uniper Se: Company Snapshot
Figure 45 Petrofac Limited: Company Snapshot
Figure 46 Bp P.L.C.: Company Snapshot
Figure 47 Eni: Company Snapshot
Figure 48 Technip Energies N.V.: Company Snapshot

Executive Summary

Companies Mentioned

  • Air Products and Chemicals Inc.
  • Aker Solutions
  • Aquaterra Energy Limited
  • BP P.L.C.
  • Business Overview
  • Dastur Energy
  • Engie
  • ENI
  • Equinor Asa
  • Exxon Mobil Corporation
  • Ineos
  • Johnson Matthey
  • Linde plc
  • Petrofac Limited
  • Shell plc
  • Strategic Choices Made
  • Technip Energies N.V.
  • The State Atomic Energy Corporation
  • Thyssenkrupp Ag
  • Topsoe
  • Uniper Se
  • Xebec Adsorption Inc.

Methodology

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Table Information