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

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  • 24 Pages
  • October 2023
  • Region: Australia
  • GlobalData
  • ID: 5744842
This report discusses the status of Australia's emerging hydrogen market, providing an overview of its current market position, its pipeline projects, future capacity scenarios, hydrogen policies, as well as the key players and demand sectors for low carbon hydrogen in Australia.

Australia currently contributes less than 1% to global active hydrogen production 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, the country's supply of platinum is expected to increase in the longer term which will boost domestic electrolyzer production, with two mines under construction and a further seven in the feasibility stage.

Australia's hydrogen market will also benefit from policies at both the national and regional level. The country launched its national hydrogen strategy in 2020 and has set aside over $2B in its 2023/ 2024 budget for the low carbon hydrogen industry, which will chiefly be distributed through its Hydrogen Headstart Program.

The program aims to support the development of large-scale hydrogen projects through competitive production contracts. A number of regional governments such as New South Wales, Queensland, Western Australia, and Tasmania have set up regional targets and incentives, which will further help to scale hydrogen production capacity.

Interest in low carbon hydrogen is increasing across a broad range of sectors. Ammonia is the dominant end use sector according to a current list of active and pipeline projects and has the potential to account for up to 4mtpa of hydrogen production capacity. The second most dominant end use sector is transportation.

The use of hydrogen and its derivatives as a fuel will be helped by policies such as the Guarantee of Origin scheme, which will certify the low carbon credentials of hydrogen and other renewable products.

Key Highlights

  • Australia current has a low standing within the global hydrogen market, accounting for less than 1% of active capacity.
  • The country accounts for 18% of global hydrogen capacity within post-feasibility projects. This is a positive signal for the country's domestic hydrogen market, with a significant proportion of its projects being within a relatively advanced stage of development relative to the global market.
  • However, with the likelihood of increasing financial support, technological development, and the growth of hydrogen markets around the world, it has the potential to reach the high case scenario of 9.5 mtpa capacity by 2030.
  • Between 2022 and 2010, the cost of generating electricity from onshore wind and solar has fallen by 38% and 85%, respectively, and is foreseen to continue falling in the run up to 2025.
  • Australia's 2023/24 Budget: The budget sets aside over $2 billion for the nation's renewable hydrogen industry. Of this sum, $2 billion will be provided to Hydrogen Headstart, which will provide support for large scale renewable hydrogen projects through competitive production contracts. This funding will facilitate the development of the country's flagship projects, which will set Australia up for to 1GW of electrolyzer capacity by 2030.
  • 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.


  • 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

Reasons to Buy

  • Identify the market trends within the country and key players in hydrogen technologies.
  • Develop market insight of current, in development and announced capacity and latest trends of the sector.
  • Understand the Australia's different scenarios for 2030 based on the likeliness of the projects.
  • Look at the demand in key application areas for the country.
  • Understand how and where the market is growing as hydrogen's importance to national and international agendas rapidly increases.

Table of Contents

  • Executive Summary
  • Snapshot of the low carbon hydrogen market
  • Global vs Australia hydrogen production capacity
  • The world’s largest upcoming hydrogen projects
2030 capacity scenarios
  • Australia’s largest upcoming low carbon hydrogen projects
  • Low carbon hydrogen competitiveness drivers
  • National hydrogen strategies and funding
  • Regional hydrogen policy
  • Hydrogen hub case study
  • A snapshot of Australia’s hydrogen deals
  • Australia’s top five hydrogen deals by value
  • Company activity across alternative datasets
  • Intended hydrogen use sectors
  • Examples of hydrogen development in Australia across sectors
  • Contact the Publisher
List of Tables
  • Australia’s largest upcoming low carbon hydrogen projects
  • Examples of hydrogen developments in Australia across sectors
  • Australia’s top five hydrogen deals by value
List of 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

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • 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