Market Size of Blue Hydrogen Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 11.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Blue Hydrogen Market Analysis
The global blue hydrogen market is poised to grow at a CAGR of over 11% during the forecast period.
COVID-19 moderately impacted the overall blue hydrogen industry growth due to the temporary production halt. However, the increased demand for blue hydrogen in transportation propelled the industry's growth.
- The surging application of blue hydrogen in fuel cell electric vehicles and the rising demand from the chemical sector are major factors driving the demand for blue hydrogen.
- Loss of energy during hydrogen production may hinder the overall industry growth.
- Rising government initiatives to shift towards clean energy sources will likely offer new growth opportunities during the forecast period.
- North America dominated the blue hydrogen market due to the increasing fuel-cell electric vehicle production.
