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Europe Captive Petroleum Refinery Hydrogen Generation Market Trends

Report ID: GMI12329
Published Date: Nov 2024
Report Format: PDF

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Europe Captive Petroleum Refinery Hydrogen Generation Market Trends

Presence of broader energy transition landscape in the region encouraging industries to adapt to sustainable energy solutions, bolstering process adoption to align with the energy transition strategies and reduce reliance on fossil fuels and improve environmental outcomes. Furthermore, rising refineries captive hydrogen production adoption to maintain their market position and meet growing consumer and stakeholder expectations for greener operations will complement the business scenario.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size for hydrogen generation within captive petroleum refineries in Europe reached USD 12.7 billion in 2024 and is set to grow at a 7% CAGR from 2025 to 2032, driven by stringent environmental regulations and energy transition goals.

The electrolysis segment is projected to surpass USD 20.5 billion by 2034, led by technological advancements that improve efficiency and reduce operational costs for clean energy production.

Germany's market is anticipated to reach USD 3 billion by 2034, fueled by the transition from coal-dependent processes to cleaner alternatives and growing domestic demand for clean energy.

The key players in the industry include Air Liquide, Air Products and Chemicals, BASF, BP, Emerson, ExxonMobil, Element Fuel Holdings, Fluor Corporation, Next Hydrogen, Nel Hydrogen, and Technip Energies.