Comparing 20 vendors in Blue Hydrogen across 0 criteria.
360 Quadrants produces a list of “Top 20 Blue Hydrogen Producers, Worldwide 2023”, in partnership with MarketsandMarkets. The report recognizes the standouts in the Blue Hydrogen market ranging from mid-sized enterprises to Fortune 500 companies existing in the market. The Blue Hydrogen producer evaluation was conducted on over 70 companies of which the top 20 companies were categorized and recognized as the new economic quadrant leaders.
Key Highlights included in 360 Quadrants:
- The Blue Hydrogen market is expected to grow from USD 18.2 billion in 2022 to USD 44.5 billion by 2030, at a CAGR of 11.9% from 2022 to 2030. This growth of the market is majorly driven by the rising demand for long-term power storage.
- The Blue Hydrogen market is expected to witness growth majorly in Europe and North America. This growth can be seen due to the increasing usage of hydrogen gas in fertilizer and chemical industries.
- Europe was the second-largest market for Blue Hydrogen in 2022. EU region has a target of reducing 40% of greenhouse gas emissions by 2030 which is an important driving factor for Blue Hydrogen in Europe.
- The key producers of Blue Hydrogen across the globe include Shell, Air Products, Air Liquide, Linde, Dastur Energy, Equinor, and BP. These companies have strong and established product portfolios and very strong market presence.
- The key companies in the market are using strategies like partnerships, collaborations, acquisitions, and contracts to strengthen their global presence and offerings. For instance, Shell has entered into an agreement with Uniper to produce Blue Hydrogen at Uniper’s Killinghome power station site. With this agreement, both companies will work together to decarbonize industry, power, and transport. While Dastur Energy partnered with IOCL and has completed the carbon capture and utilization (CCUS) project at the 13.7 mtpa Koyali refinery, in India.
- Key market players are also focusing on new product launches and expansions. In August 2022, Linde inaugurated a hydrogen refueling system for passenger trains located in Germany. In June 2022, Johnson Matthey launched CLEANSPACE technology.
The Blue Hydrogen market has experienced several key trends recently. Here are the key trends:
Growing demand: There has been an increasing demand for hydrogen as a clean energy source, driven by the need to decarbonize various sectors such as transportation, industry, and power generation.
Government support: Many governments worldwide are implementing policies and initiatives to support the development and adoption of blue hydrogen. This includes financial incentives, regulatory frameworks, and funding for research and development, aiming to accelerate the transition to a low-carbon economy.
Partnerships and investments: Collaboration between energy companies, industrial players, and governments has been crucial for the growth of the blue hydrogen market. Strategic partnerships and investments in blue hydrogen projects have been on the rise, enabling the development of large-scale production facilities and infrastructure.
Advancements in carbon capture and storage: The effectiveness and scalability of carbon capture and storage technologies are essential for the success of blue hydrogen. Ongoing research and development efforts have focused on improving efficiency and reducing the costs associated with capturing and storing carbon emissions.
Scaling up production: Significant efforts are being made to scale up blue hydrogen production capacity. This involves the construction of new facilities and retrofitting existing ones to enable large-scale hydrogen production with carbon capture. Increased production capacity will drive down costs and enhance the competitiveness of blue hydrogen.
International trade and market integration: The global nature of the blue hydrogen market has led to discussions and initiatives for international trade and market integration. Countries with favorable renewable energy resources but limited fossil fuel reserves are exploring the import of blue hydrogen to meet their clean energy goals.
Environmental concerns and sustainability: While blue hydrogen has lower carbon emissions compared to conventional hydrogen production, concerns regarding methane leaks during natural gas extraction and the overall lifecycle emissions are being addressed. Ensuring the sustainability of blue hydrogen and minimizing environmental impact are key focus areas.
Overall, the blue hydrogen market is witnessing growing demand, government support, partnerships, technological advancements, and efforts to scale up production. These trends are driving the development and adoption of blue hydrogen as a cleaner energy source in the global transition towards a low-carbon economy.
The Full List
|Logo||Company||Headquarters||Year Founded||Holding Type|
|Air Liquide||Paris, France||1902||Public|
|Air Products||Allentown, USA||1940||Public|
|Aker Solutions||Fornebu, Norway||1841||Public|
|Dastur Energy||Austin, USA||1955||Private|
|HyGear||Arnhem, The Netherlands||2002||Private|
|Johnson Matthey||London, UK||1817||Public|
|Technip Energies||Nanterre, France||2021||Public|
|Thyssenkrupp AG||Essen, Germany||1999||Public|