Global Hydrogen Hubs Market Forecast to 2030: Increased Focus on Green and Clean Energy Solutions to Drive Market Growth

DUBLIN, March 7, 2024 /PRNewswire/ -- The "Global Hydrogen Hubs Market by Industry (Automotive, Aviation, Marine), Supply Technique (SMR, Electrolysis), End Use (Liquid Hydrogen, Hydrogen Fuel Cell) & Region (North America, Europe, APAC, MEA, & Latin America) - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The hydrogen hubs market is valued at USD 1.8 billion in 2023 and is projected to reach USD 5.9 billion by 2030, at a CAGR of 18.6% from 2023 to 2030. The hydrogen hub market is witnessing substantial growth driven by the emergence of vertically integrated hydrogen infrastructure. These facilities, encompassing production, storage, and distribution, optimize the hydrogen supply chain. Increased spending on hydrogen infrastructure further fuels market expansion, positioning hydrogen hubs as pivotal players in the evolving landscape of clean energy solutions.

Based on industry, the automotive segment will register the highest growth during the forecast period

Based on industry, the hydrogen hubs market is segmented into automotive, aviation, marine, and others, which includes defense and space. The automotive industry is expected to be a key demand area for hub based hydrogen as the adoption of fuel cells in mobility continues to accelerate. The automotive segment is expected to grow from USD 1.05 billion in 2023 and is projected to reach USD 3.9 billion by 2030, at a CAGR of 20.6% during the forecast period.

Based on supply technique, the electrolysis segment will register the highest growth during the forecast period

Based on supply technique, the hydrogen hub market is segmented into steam methane reforming (SMR) and electrolysis segments. Of these segments, electrolysis is expected to have the highest growth from USD 1.1 billion in 2023 to USD 3.7 billion in 2030, registering a CAGR of 18.7%. Steam methane reforming (SMR) and electrolysis stand out as the two primary methods for hydrogen production within hydrogen hubs, particularly in the context of blue and green hydrogen.

SMR, commonly associated with blue hydrogen, involves the reaction of natural gas with steam to produce hydrogen and carbon dioxide. Although it is a well-established and cost-effective process, the associated carbon emissions necessitate carbon capture and storage (CCS) for environmental sustainability. On the other hand, electrolysis, linked to green hydrogen, utilizes renewable energy to split water into hydrogen and oxygen. While offering a cleaner alternative, electrolysis faces challenges related to high energy costs and the need for significant renewable energy infrastructure. The choice between these methods reflects the ongoing industry debate regarding trade-offs between cost efficiency and environmental impact in the pursuit of a sustainable hydrogen economy.

Based on end use form, liquid hydrogen and fuel cells are the primary products that hydrogen hubs are expected to produce as more hydrogen hubs are developed

Based in end-use, hydrogen hubs market are segmented into liquid hydrogen and hydrogen fuel cells, which are the primary products from these hubs. Both of these end products - hydrogen fuel cells and liquid hydrogen - have diverse applications within the clean energy sector. Hydrogen fuel cells play a crucial role in powering various transport modes, including automobiles, buses, and trains, as well as providing backup power for industries.

The fuel cells' efficiency and environmental benefits make them a key driver for the adoption of hydrogen as a clean energy source. Simultaneously, the production of liquid hydrogen is integral for efficient storage and transportation, especially for long-distance supply chains and applications in industries such as aerospace. The strategic integration of these end products from regional hydrogen hubs reflects the comprehensive approach to harnessing hydrogen's potential across different sectors, contributing to a more sustainable and integrated energy ecosystem.

Based on regions, the Asia Pacific region is estimated to have the highest growth during the forecast period

The Asia Pacific region is estimated to account for the largest share of the hydrogen hubs market in 2023. The growth of the region is attributed to the rapid developments in alternative energy and fuel technologies to wean away from fossil fuel based energy consumption. This is enhanced by the development of renewable energy propulsion systems for automobiles, ships and aviation segments, which are expected to use hydrogen or hydrogen based duel sources as a primary propellant.


Key Topics Covered:

Executive Summary

• Electrolysis Segment to Hold Largest Market Share During Forecast Period
• Automotive to be Fastest-Growing Segment During Forecast Period
• Asia-Pacific to Register Highest CAGR During Forecast Period

Premium Insights

• Attractive Opportunities for Players in Hydrogen Hubs Market - Increased Focus on Green and Clean Energy Solutions to Drive Market
• Hydrogen Hubs Market, by Supply Technique - Electrolysis Segment Dominated Market in 2023
• Hydrogen Hubs Market, by Industry - Automotive Industry to Lead Market During Forecast Period

Market Dynamics

Drivers

• Increasing Vertical Integration of Hydrogen Production Facilities
• Rising Public and Private Investments in Hydrogen and Associated Fuel Cell Technologies
• Growing Development of Regional Green Hydrogen Hubs

Restraints

• Infrastructure and Production Limitations

Opportunities

• Industrial Transition Toward Green Hydrogen
• Widespread Adoption of Hydrogen-based Mobility

Challenges

• High Production Cost and Complex Storage and Transportation
• Low Power Density of Hydrogen Fuel Cell Stacks

Technology Analysis

• Electrolysis
• Hydrogen Storage Technologies
• Carbon Capture, Utilization, and Storage

Analysis of New Business Models

• Automotive Industry: Fuel Cell Stacks and Hydrogen Refueling Stations
• Aviation Industry: Hydrogen Fuel and Fuel Cell-Powered Aircraft

Use Case Analysis

• Hamburg Green Hydrogen Hub
• Improved Hydrogen Mobility

Technology Trends

• Hydrogen Storage
• Ammonia Cracking

Impact of Megatrends

• Electrolysis
• Artificial Intelligence
• Decarbonization of Supply Chain and Infrastructure

Innovations and Patent Analysis

• Types of Hydrogen Produced at Hub Facility
• Green Hydrogen
• Blue Hydrogen
• On-Site Infrastructure for Hydrogen Hubs
• Hydrogen Conversion Equipment
• Primary Energy Source for Hydrogen Hubs

Companies Profiled

• Linde
• Saudi Arabian Oil Group
• Shell
• Sinopec Corp.
• Airbus
• Air Liquide
• Air Products and Chemicals
• Chevron Corporation
• Iwatani Corporation
• Messers GmbH
• Bgr Energy Systems
• Uniper
• Greenstat
• Fuelcell Energy.
• Cummins
• Bloom Energy Group
• Plug Power
• Element 1 Corp.
• Nel Hydrogen
• Aw Energy
• Nproxx
• Gardner Cryogenics
• Calvera Hydrogen
• Hexagon Composites

For more information about this report visit https://www.researchandmarkets.com/r/m8m66i

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