Home > Energy & Power > Emerging Energy Technologies > Hydrogen > Asia Pacific Blue Hydrogen Market

Asia Pacific Blue Hydrogen Market Trends

Report ID: GMI9045
Published Date: Apr 2024
Report Format: PDF

Download Free Sample

Asia Pacific Blue Hydrogen Market Trends

Increasing adoption of fuel cells, particularly in transportation applications will accelerate the industry growth owing to the development of hydrogen infrastructure, including refueling stations and pipelines. Increasing adoption of blue hydrogen as a clean energy source by industries to decarbonize their operations, reduce their carbon footprint, and enhance their environmental credentials will augment the industry scenario.

Growing advancements in hydrogen production, storage, and distribution technologies in the region will drive down the costs and improve efficiency, making it more competitive with the conventional fuels, thereby improving the product penetration. Furthermore, significant investments in research and development of production technologies coupled with supportive government initiatives and regulations will escalate the business outlook.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

Asia Pacific market for blue hydrogen was crossed USD 340 million in 2023 and is expected to register 10% CAGR from 2024 to 2032, owing to the rising demand for hydrogen in key industries including fertilizers and refineries in the region.

Asia Pacific blue hydrogen industry from the steam methane reforming segment is expected to exceed USD 634 million by 2032 due to its efficiency and scalability, making it a preferred choice for large-scale hydrogen production.

China blue hydrogen industry is expected to cross USD 595 million by 2032 due to vast energy demand, constraints to long-distance transport of natural gas, and the potential for establishing intra region trade connections in the country.

BP p.l.c., Bechtel Corporation, Equinor ASA, Exxon Mobil Corporation, Eni SpA, Johnson Matthey, Reliance Industries Ltd, Saipem, Shell Plc, thyssenkrupp Industrial Solutions AG, TOPSOE, Technip Energies N.V., and Woodside, are some of the major blue hydrogen companies in Asia Pacific.