The Global Hydrogen Market (Production, Storage, Transport and Utilization) 2024-2035

January 2024 | 418 pages | ID: G3665096BD74EN
Future Markets, Inc.

Abstracts

Demand for hydrogen and its derivatives is increasing, buoyed by sustainability initiatives and government funding. This extensive report examines the emerging global hydrogen market, providing 11-year projections across production, infrastructure, storage, distribution and end-use applications.

It assesses mainstream hydrogen varieties produced from renewable electricity, fossil fuels, and biomass etc. Competitive analysis compares commercial readiness, scalability potential and environmental impact to guide research and adoption roadmaps. Profiles of over 200 companies span electrolyzer manufacturing, hydrogen-based fuel synthesis, CO2 utilization, distribution logistics, dispensing infrastructure, storage vessels and fuel cell development etc.

Regional analysis covers North America, Europe, Asia Pacific and Rest of World markets based on national strategies, resource advantages and de-carbonization commitments driving public and private investments. Falling electrolysis costs, increasing scale manufacturing, maturing synthetic fuel pathways and intensifying policy tailwinds provide strong signals for an expanding role of hydrogen supporting decarbonization of industrial sectors and long-haul transport while providing vital grid balancing via energy storage. However, major challenges exist around achieving fossil independence, infrastructure availability, international standards development and coordinated adoption linkages between producing vs demanding sectors.

The report enables navigation of this complex ecosystem for practitioners through detailed assessments spanning science, industry activity and geopolitics needed for hydrogen to deliver on its immense promise supporting urgent real-economy de-carbonization. Report contents include:

• Assessment of hydrogen production methods - electrolysis, natural gas reforming, coal gasification etc.
• Analysis of hydrogen varieties - green, blue, pink, turquoise etc.
• Profiles of 200+ companies across the hydrogen value chain. Companies profiled include Advanced Ionics, Aker Horizons, C-Zero, Constellation, Dynelectro, Ekona Power, Electric Hydrogen, Enapter, EvoIOH, FuelCell Energy, Heliogen, HiiROC, Hycamite, Hystar, HydrogenPro, Innova Hydrogen, Ionomr Innovations, ITM Power, Jolt Electrodes, McPhy Energy SAS, Monolith Materials, NEL Hydrogen, Ohmium, Parallel Carbon, Plug Power, PowerCell Sweden, Pure Hydrogen Corporation Limited, Sunfire, Syzgy Plasmonics, Thiozen, Thyssenkrupp Nucera and Verdagy.
• Cost evolution analysis, scalability assessments and forecasts
• Technology analysis for hydrogen liquefaction, storage and transportation
• Applications and adoption roadmaps across transport, chemicals, steelmaking etc.
• Hydrogen utilization in fuel cells, internal combustion engines, turbines
• Synthetic fuels manufactured using hydrogen as key feedstocks
• National hydrogen strategies and policy frameworks globally
• Production trends and forecasts across Americas, Europe, Asia Pacific
• Renewable hydrogen for grid balancing and buffering intermittent supply
• Industrial usage for high-grade process heating requirements
• Decarbonization enabler for heavy industries like steel, shipping, aviation
• Market challenges around infrastructure availability, production costs, distribution networks

Contents

1 RESEARCH METHODOLOGY


2 INTRODUCTION

2.1 Hydrogen classification
2.2 Global energy demand and consumption
2.3 The hydrogen economy and production
2.4 Removing CO? emissions from hydrogen production
2.5 Hydrogen value chain
  2.5.1 Production
  2.5.2 Transport and storage
  2.5.3 Utilization
2.6 National hydrogen initiatives
2.7 Market challenges

3 HYDROGEN MARKET ANALYSIS

3.1 Industry developments 2020-2024
3.2 Market map
3.3 Global hydrogen production
  3.3.1 Industrial applications
  3.3.2 Hydrogen energy
    3.3.2.1 Stationary use
    3.3.2.2 Hydrogen for mobility
  3.3.3 Current Annual H2 Production
  3.3.4 Hydrogen production processes
    3.3.4.1 Hydrogen as by-product
    3.3.4.2 Reforming
      3.3.4.2.1 SMR wet method
      3.3.4.2.2 Oxidation of petroleum fractions
      3.3.4.2.3 Coal gasification
    3.3.4.3 Reforming or coal gasification with CO2 capture and storage
    3.3.4.4 Steam reforming of biomethane
    3.3.4.5 Water electrolysis
    3.3.4.6 The Power-to-Gas" concept    3.3.4.7 Fuel cell stack
    3.3.4.8 Electrolysers
    3.3.4.9 Other
      3.3.4.9.1 Plasma technologies
      3.3.4.9.2 Photosynthesis
      3.3.4.9.3 Bacterial or biological processes
      3.3.4.9.4 Oxidation (biomimicry)
  3.3.5 Production costs
  3.3.6 Global hydrogen demand forecasts
  3.3.7 Hydrogen Production in the United States
    3.3.7.1 Gulf Coast
    3.3.7.2 California
    3.3.7.3 Midwest
    3.3.7.4 Northeast
    3.3.7.5 Northwest
  3.3.8 DOE Hydorgen Hubs
  3.3.9 US Hydrogen Electrolyzer Capacities, Planned and Installed

4 TYPES OF HYDROGEN

4.1 Comparative analysis
4.2 Green hydrogen
  4.2.1 Overview
  4.2.2 Role in energy transition
  4.2.3 SWOT analysis
  4.2.4 Electrolyzer technologies
    4.2.4.1 Alkaline water electrolysis (AWE)
    4.2.4.2 Anion exchange membrane (AEM) water electrolysis
    4.2.4.3 PEM water electrolysis
    4.2.4.4 Solid oxide water electrolysis
  4.2.5 Market players
4.3 Blue hydrogen (low-carbon hydrogen)
  4.3.1 Overview
  4.3.2 Advantages over green hydrogen
  4.3.3 SWOT analysis
  4.3.4 Production technologies
    4.3.4.1 Steam-methane reforming (SMR)
    4.3.4.2 Autothermal reforming (ATR)
    4.3.4.3 Partial oxidation (POX)
    4.3.4.4 Sorption Enhanced Steam Methane Reforming (SE-SMR)
    4.3.4.5 Methane pyrolysis (Turquoise hydrogen)
    4.3.4.6 Coal gasification
    4.3.4.7 Advanced autothermal gasification (AATG)
    4.3.4.8 Biomass processes
    4.3.4.9 Microwave technologies
    4.3.4.10 Dry reforming
    4.3.4.11 Plasma Reforming
    4.3.4.12 Solar SMR
    4.3.4.13 Tri-Reforming of Methane
    4.3.4.14 Membrane-assisted reforming
    4.3.4.15 Catalytic partial oxidation (CPOX)
    4.3.4.16 Chemical looping combustion (CLC)
  4.3.5 Carbon capture
    4.3.5.1 Pre-Combustion vs. Post-Combustion carbon capture
    4.3.5.2 What is CCUS?
      4.3.5.2.1 Carbon Capture
    4.3.5.3 Carbon Utilization
      4.3.5.3.1 CO2 utilization pathways
    4.3.5.4 Carbon storage
    4.3.5.5 Transporting CO2
      4.3.5.5.1 Methods of CO2 transport
    4.3.5.6 Costs
    4.3.5.7 Market map
    4.3.5.8 Point-source carbon capture for blue hydrogen
      4.3.5.8.1 Transportation
      4.3.5.8.2 Global point source CO2 capture capacities
      4.3.5.8.3 By source
      4.3.5.8.4 By endpoint
      4.3.5.8.5 Main carbon capture processes
    4.3.5.9 Carbon utilization
      4.3.5.9.1 Benefits of carbon utilization
      4.3.5.9.2 Market challenges
      4.3.5.9.3 Co2 utilization pathways
      4.3.5.9.4 Conversion processes
  4.3.6 Market players
4.4 Pink hydrogen
  4.4.1 Overview
  4.4.2 Production
  4.4.3 Applications
  4.4.4 SWOT analysis
  4.4.5 Market players
4.5 Turquoise hydrogen
  4.5.1 Overview
  4.5.2 Production
  4.5.3 Applications
  4.5.4 SWOT analysis
  4.5.5 Market players

5 HYDROGEN STORAGE AND TRANSPORT

5.1 Market overview
5.2 Hydrogen transport methods
  5.2.1 Pipeline transportation
  5.2.2 Road or rail transport
  5.2.3 Maritime transportation
  5.2.4 On-board-vehicle transport
5.3 Hydrogen compression, liquefaction, storage
  5.3.1 Solid storage
  5.3.2 Liquid storage on support
  5.3.3 Underground storage
5.4 Market players

6 HYDROGEN UTILIZATION

6.1 Hydrogen Fuel Cells
6.2 Market overview
  6.2.1 PEM fuel cells (PEMFCs)
  6.2.2 Solid oxide fuel cells (SOFCs)
  6.2.3 Alternative fuel cells
6.3 Alternative fuel production
  6.3.1 Solid Biofuels
  6.3.2 Liquid Biofuels
  6.3.3 Gaseous Biofuels
  6.3.4 Conventional Biofuels
  6.3.5 Advanced Biofuels
  6.3.6 Feedstocks
  6.3.7 Production of biodiesel and other biofuels
  6.3.8 Renewable diesel
  6.3.9 Biojet and sustainable aviation fuel (SAF)
  6.3.10 Electrofuels (E-fuels, power-to-gas/liquids/fuels)
    6.3.10.1 Hydrogen electrolysis
    6.3.10.2 eFuel production facilities, current and planned
6.4 Hydrogen Vehicles
  6.4.1 Market overview
6.5 Aviation
  6.5.1 Market overview
6.6 Ammonia production
  6.6.1 Market overview
  6.6.2 Decarbonisation of ammonia production
  6.6.3 Green ammonia synthesis methods
    6.6.3.1 Haber-Bosch process
    6.6.3.2 Biological nitrogen fixation
    6.6.3.3 Electrochemical production
    6.6.3.4 Chemical looping processes
  6.6.4 Blue ammonia
    6.6.4.1 Blue ammonia projects
  6.6.5 Chemical energy storage
    6.6.5.1 Ammonia fuel cells
    6.6.5.2 Marine fuel
6.7 Methanol production
6.8 Market overview
  6.8.1 Methanol-to gasoline technology
    6.8.1.1 Production processes
      6.8.1.1.1 Anaerobic digestion
      6.8.1.1.2 Biomass gasification
      6.8.1.1.3 Power to Methane
6.9 Steelmaking
  6.9.1 Market overview
  6.9.2 Comparative analysis
  6.9.3 Hydrogen Direct Reduced Iron (DRI)
6.10 Power & heat generation
  6.10.1 Market overview
    6.10.1.1 Power generation
    6.10.1.2 Heat Generation
6.11 Maritime
  6.11.1 Market overview
6.12 Fuel cell trains
  6.12.1 Market overview

7 COMPANY PROFILES 223 (251 COMPANY PROFILES)


8 REFERENCES

List Of Tables

LIST OF TABLES

Table 1. Hydrogen colour shades, Technology, cost, and CO2 emissions.
Table 2. Main applications of hydrogen.
Table 3. Overview of hydrogen production methods.
Table 4. National hydrogen initiatives.
Table 5. Market challenges in the hydrogen economy and production technologies.
Table 6. Hydrogen industry developments 2020-2024.
Table 7. Market map for hydrogen technology and production.
Table 8. Industrial applications of hydrogen.
Table 9. Hydrogen energy markets and applications.
Table 10. Hydrogen production processes and stage of development.
Table 11. Estimated costs of clean hydrogen production.
Table 12. US Hydrogen Electrolyzer Capacities, current and planned, as of May 2023, by region.
Table 13. Comparison of hydrogen types
Table 14. Characteristics of typical water electrolysis technologies
Table 15. Advantages and disadvantages of water electrolysis technologies.
Table 16. Market players in green hydrogen (electrolyzers).
Table 17. Technology Readiness Levels (TRL) of main production technologies for blue hydrogen.
Table 18. Key players in methane pyrolysis.
Table 19. Commercial coal gasifier technologies.
Table 20. Blue hydrogen projects using CG.
Table 21. Biomass processes summary, process description and TRL.
Table 22. Pathways for hydrogen production from biomass.
Table 23. CO2 utilization and removal pathways
Table 24. Approaches for capturing carbon dioxide (CO2) from point sources.
Table 25. CO2 capture technologies.
Table 26. Advantages and challenges of carbon capture technologies.
Table 27. Overview of commercial materials and processes utilized in carbon capture.
Table 28. Methods of CO2 transport.
Table 29. Carbon capture, transport, and storage cost per unit of CO2
Table 30. Estimated capital costs for commercial-scale carbon capture.
Table 31. Point source examples.
Table 32. Assessment of carbon capture materials
Table 33. Chemical solvents used in post-combustion.
Table 34. Commercially available physical solvents for pre-combustion carbon capture.
Table 35. Carbon utilization revenue forecast by product (US$).
Table 36. CO2 utilization and removal pathways.
Table 37. Market challenges for CO2 utilization.
Table 38. Example CO2 utilization pathways.
Table 39. CO2 derived products via Thermochemical conversion-applications, advantages and disadvantages.
Table 40. Electrochemical CO? reduction products.
Table 41. CO2 derived products via electrochemical conversion-applications, advantages and disadvantages.
Table 42. CO2 derived products via biological conversion-applications, advantages and disadvantages.
Table 43. Companies developing and producing CO2-based polymers.
Table 44. Companies developing mineral carbonation technologies.
Table 45. Market players in blue hydrogen.
Table 46. Market players in pink hydrogen.
Table 47. Market players in turquoise hydrogen.
Table 48. Market overview-hydrogen storage and transport.
Table 49. Summary of different methods of hydrogen transport.
Table 50. Market players in hydrogen storage and transport.
Table 51. Market overview hydrogen fuel cells-applications, market players and market challenges.
Table 52. Categories and examples of solid biofuel.
Table 53. Comparison of biofuels and e-fuels to fossil and electricity.
Table 54. Classification of biomass feedstock.
Table 55. Biorefinery feedstocks.
Table 56. Feedstock conversion pathways.
Table 57. Biodiesel production techniques.
Table 58. Advantages and disadvantages of biojet fuel
Table 59. Production pathways for bio-jet fuel.
Table 60. Applications of e-fuels, by type.
Table 61. Overview of e-fuels.
Table 62. Benefits of e-fuels.
Table 63. eFuel production facilities, current and planned.
Table 64. Market overview for hydrogen vehicles-applications, market players and market challenges.
Table 65. Blue ammonia projects.
Table 66. Ammonia fuel cell technologies.
Table 67. Market overview of green ammonia in marine fuel.
Table 68. Summary of marine alternative fuels.
Table 69. Estimated costs for different types of ammonia.
Table 70. Comparison of biogas, biomethane and natural gas.
Table 71. Hydrogen-based steelmaking technologies.
Table 72. Comparison of green steel production technologies.
Table 73. Advantages and disadvantages of each potential hydrogen carrier.

List Of Figures

LIST OF FIGURES

Figure 1. Hydrogen value chain.
Figure 2. Current Annual H2 Production.
Figure 3. Principle of a PEM electrolyser.
Figure 4. Power-to-gas concept.
Figure 5. Schematic of a fuel cell stack.
Figure 6. High pressure electrolyser - 1 MW.
Figure 7. Global hydrogen demand forecast.
Figure 8. U.S. Hydrogen Production by Producer Type.
Figure 9. Segmentation of regional hydrogen production capacities in the US.
Figure 10. Current of planned installations of Electrolyzers over 1MW in the US.
Figure 11. SWOT analysis: green hydrogen.
Figure 12. Types of electrolysis technologies.
Figure 13. Schematic of alkaline water electrolysis working principle.
Figure 14. Schematic of PEM water electrolysis working principle.
Figure 15. Schematic of solid oxide water electrolysis working principle.
Figure 16. SWOT analysis: blue hydrogen.
Figure 17. SMR process flow diagram of steam methane reforming with carbon capture and storage (SMR-CCS).
Figure 18. Process flow diagram of autothermal reforming with a carbon capture and storage (ATR-CCS) plant.
Figure 19. POX process flow diagram.
Figure 20. Process flow diagram for a typical SE-SMR.
Figure 21. HiiROC’s methane pyrolysis reactor.
Figure 22. Coal gasification (CG) process.
Figure 23. Flow diagram of Advanced autothermal gasification (AATG).
Figure 24. Schematic of CCUS process.
Figure 25. Pathways for CO2 utilization and removal.
Figure 26. A pre-combustion capture system.
Figure 27. Carbon dioxide utilization and removal cycle.
Figure 28. Various pathways for CO2 utilization.
Figure 29. Example of underground carbon dioxide storage.
Figure 30. Transport of CCS technologies.
Figure 31. Railroad car for liquid CO? transport
Figure 32. Estimated costs of capture of one metric ton of carbon dioxide (Co2) by sector.
Figure 33. CCUS market map.
Figure 34. Global capacity of point-source carbon capture and storage facilities.
Figure 35. Global carbon capture capacity by CO2 source, 2021.
Figure 36. Global carbon capture capacity by CO2 source, 2030.
Figure 37. Global carbon capture capacity by CO2 endpoint, 2022 and 2030.
Figure 38. Post-combustion carbon capture process.
Figure 39. Postcombustion CO2 Capture in a Coal-Fired Power Plant.
Figure 40. Oxy-combustion carbon capture process.
Figure 41. Liquid or supercritical CO2 carbon capture process.
Figure 42. Pre-combustion carbon capture process.
Figure 43. CO2 non-conversion and conversion technology, advantages and disadvantages.
Figure 44. Applications for CO2.
Figure 45. Cost to capture one metric ton of carbon, by sector.
Figure 46. Life cycle of CO2-derived products and services.
Figure 47. Co2 utilization pathways and products.
Figure 48. Plasma technology configurations and their advantages and disadvantages for CO2 conversion.
Figure 49. LanzaTech gas-fermentation process.
Figure 50. Schematic of biological CO2 conversion into e-fuels.
Figure 51. Econic catalyst systems.
Figure 52. Mineral carbonation processes.
Figure 53. Pink hydrogen Production Pathway.
Figure 54. SWOT analysis: pink hydrogen
Figure 55. Turquoise hydrogen Production Pathway.
Figure 56. SWOT analysis: turquoise hydrogen
Figure 57. Process steps in the production of electrofuels.
Figure 58. Mapping storage technologies according to performance characteristics.
Figure 59. Production process for green hydrogen.
Figure 60. E-liquids production routes.
Figure 61. Fischer-Tropsch liquid e-fuel products.
Figure 62. Resources required for liquid e-fuel production.
Figure 63. Levelized cost and fuel-switching CO2 prices of e-fuels.
Figure 64. Cost breakdown for e-fuels.
Figure 65. Hydrogen fuel cell powered EV.
Figure 66. Green ammonia production and use.
Figure 67. Classification and process technology according to carbon emission in ammonia production.
Figure 68. Schematic of the Haber Bosch ammonia synthesis reaction.
Figure 69. Schematic of hydrogen production via steam methane reformation.
Figure 70. Estimated production cost of green ammonia.
Figure 71. Renewable Methanol Production Processes from Different Feedstocks.
Figure 72. Production of biomethane through anaerobic digestion and upgrading.
Figure 73. Production of biomethane through biomass gasification and methanation.
Figure 74. Production of biomethane through the Power to methane process.
Figure 75. Transition to hydrogen-based production.
Figure 76. CO2 emissions from steelmaking (tCO2/ton crude steel).
Figure 77. Hydrogen Direct Reduced Iron (DRI) process.
Figure 78. Three Gorges Hydrogen Boat No. 1.
Figure 79. PESA hydrogen-powered shunting locomotive.
Figure 80. Symbiotic™ technology process.
Figure 81. Alchemr AEM electrolyzer cell.
Figure 82. HyCS® technology system.
Figure 83. Fuel cell module FCwave™.
Figure 84. Direct Air Capture Process.
Figure 85. CRI process.
Figure 86. Croft system.
Figure 87. ECFORM electrolysis reactor schematic.
Figure 88. Domsjц process.
Figure 89. EH Fuel Cell Stack.
Figure 90. Direct MCH® process.
Figure 91. Electriq's dehydrogenation system.
Figure 92. Endua Power Bank.
Figure 93. EL 2.1 AEM Electrolyser.
Figure 94. Enapter – Anion Exchange Membrane (AEM) Water Electrolysis.
Figure 95. Hyundai Class 8 truck fuels at a First Element high capacity mobile refueler.
Figure 96. FuelPositive system.
Figure 97. Using electricity from solar power to produce green hydrogen.
Figure 98. Hydrogen Storage Module.
Figure 99. Plug And Play Stationery Storage Units.
Figure 100. Left: a typical single-stage electrolyzer design, with a membrane separating the hydrogen and oxygen gasses. Right: the two-stage E-TAC process.
Figure 101. Hystar PEM electrolyser.
Figure 102. KEYOU-H2-Technology.
Figure 103. Audi/Krajete unit.
Figure 104. OCOchem’s Carbon Flux Electrolyzer.
Figure 105. CO2 hydrogenation to jet fuel range hydrocarbons process.
Figure 106. The Plagazi ® process.
Figure 107. Proton Exchange Membrane Fuel Cell.
Figure 108. Sunfire process for Blue Crude production.
Figure 109. CALF-20 has been integrated into a rotating CO2 capture machine (left), which operates inside a CO2 plant module (right).
Figure 110. Tevva hydrogen truck.
Figure 111. Topsoe's SynCORTM autothermal reforming technology.
Figure 112. O12 Reactor.
Figure 113. Sunglasses with lenses made from CO2-derived materials.
Figure 114. CO2 made car part.
Figure 115. The Velocys process.