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Blue Hydrogen Market Trends

Report ID: GMI5372
Published Date: Jun 2024
Report Format: PDF

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Blue Hydrogen Market Trends

Advancements in carbon capture and storage technologies are making blue hydrogen production more efficient and cost-effective. Innovations in capture methods, storage solutions, and utilization processes are key to reducing overall costs. Development of integrated systems that combine hydrogen production with CCS and renewable energy sources to optimize efficiency and reduce emissions. Furthermore, expanding and upgrading the infrastructure for transporting and storing both hydrogen and captured CO? is critical for scaling up blue hydrogen production will improve the business growth.

Authors: Ankit Gupta, Sristhi Agrawal

Frequently Asked Questions (FAQ) :

The market size of blue hydrogen was worth USD 2 billion in 2023 and is anticipated to register 9.8% CAGR between 2024 and 2032, driven by extensive efforts toward decarbonization and ongoing investments toward hydrogen by private and public sector.

The petroleum refinery segment in the blue hydrogen market is expected to reach USD 2.5 billion by 2032, owing to the supportive regulations, emission reduction pressures, and hydrogen infrastructure investments.

North America blue hydrogen market is projected to surpass USD 1.5 billion by 2032 due to climate initiatives, tax incentives, hydrogen infrastructure investments, and energy companies' involvement in blue hydrogen projects.

Air Products Inc., Air Liquide, Bechtel Corporation, BP p.l.c., Eni, Exxon Mobil Corporation, Equinor ASA, John Wood Group PLC, Johnson Matthey, and MaireTecnimont Spa, among others.