Europe Hydrogen Market Size - By Type (Grey, Blue, Green), By Application (Petroleum Refinery, Chemical), Country Outlook & Forecast, 2025 – 2034

Europe Hydrogen Market Size

Europe Hydrogen Market was valued at USD 40.2 billion in 2024 and is estimated to grow at a CAGR of 4.2% from 2025 to 2032. Hydrogen is a clean fuel, producing only water vapor when burned. This makes it ideal for reducing carbon emissions in various sectors. Hydrogen fuel cells can generate electricity, with applications ranging from vehicles to stationary power generation.
 

Growing industrial bases in developing economies, coupled with mandates to reduce emissions, are poised to fuel rising demand and propel the business growth. Many European countries, including Germany, France, Spain, and the UK, have their own national hydrogen strategies with specific goals and investment plans to scale up production and infrastructure. The region has plans for a wide hydrogen infrastructure network, which will connect various hydrogen hubs stimulating the product demand.
 

Increasing demand for efficient fuel sources, coupled with a global shift towards sustainable and clean energy solutions, has led to a surge in hydrogen adoption across diverse applications. Furthermore, heightened government investments in hydrogen energy design and development initiatives, especially in promoting green and blue hydrogen, aim to curtail reliance on traditional fuel sources, bolstering the industry's prospects.
 

Europe Hydrogen Market Trends

Key applications areas including serving as a clean energy carrier, capable of producing energy with minimal environmental impact when used in fuel cells or as a clean fuel in various industrial processes will augment the business landscape. Ongoing shift towards low-carbon hydrogen and the upgrade of existing gas infrastructures, including pipelines will drive the industry outlook. Additionally, government incentives and policies, along with significant investments from major players, will drive the market dynamics.
 

Europe Hydrogen Market Analysis

Based on process, the blue hydrogen market is set to surpass USD 5 billion by 2034, owing to policy support, technological advancements, cost considerations, and the availability of carbon capture and storage infrastructure. Europe is seeing a growing number of large-scale blue hydrogen projects as governments and industry look for scalable, cost-effective solutions for decarbonization. Further, growing complexity of hydrogen production and CCS technologies is encouraging alliances between companies in the energy, industrial, and technology sectors, thereby driving the business landscape.
 

Based on application, the petroleum refinery segment is set to witness more than 4% CAGR through 2034. These entities primarily consume hydrogen to remove the impurities and sulfur content during hydro conversion and hydrotreating processes in refineries. Increasing public and private investments in desulfurizing petroleum products, along with a rising industrial use of methanol, will boost business potential. Additionally, ongoing adoption of low-cost renewable hydrogen combined with refinery expansions to meet clean energy targets will drive the market growth.
 

Germany hydrogen market is anticipated to reach USD 5.2 billion by 2034. Set up of national hydrogen strategies with specific goals and investment plans to scale up production and infrastructure will drive the business scenario. Several government initiatives, scale up the production of renewable hydrogen and various funding programs across the region will stimulate the product adoption. Furthermore, growing number of hydrogen refueling stations, projects linking wind and solar power to hydrogen production, and a national hydrogen strategy that includes building a large-scale hydrogen pipeline network will influence the business statistics.
 

Europe Hydrogen Market Share

Public and private investment in hydrogen technologies, infrastructure, and joint ventures will likely accelerate as demand for low-carbon energy grows. Hydrogen will be integrated into sectors like heavy industry, transportation, and power generation. Companies that can integrate hydrogen across multiple sectors are set to have a competitive advantage. Ongoing collaborations between the EU member states and companies, along with various cross-border projects will foster regional hydrogen markets.
 

Europe Hydrogen Market Companies

Eminent players operating in the Europe hydrogen industry are:

• Air Liquide
• Air Products and Chemicals
• Cummins
• Messer
• Resonac Holdings Corporation
• CALORIC
• Nuvera Fuel Cells
• Plug Power
• Nel ASA
• Taiyo Nippon Sanso Corporation
• Ballard Power Systems
• Mahler AGS GmbH
• Teledyne Technologies Incorporated
• Xebec Adsorption
• McPhy Energy
• HyGear
• Claind
• ENGIE
• Linde
• Enel Spa
   

Europe Hydrogen Industry News:

• In March 2023, Air Liquide unveiled plans for an industrial-scale pilot plant in Belgium, focusing on innovative ammonia cracking. Utilizing cutting-edge technology, this facility will transform ammonia into hydrogen, playing a pivotal role in the energy transition. This strategic move not only bolsters Air Liquide's portfolio but also solidifies its standing in the industry.
   
• In October 2022, Nuvera Fuel Cells entered into a Memorandum of Understanding (MoU) with H2Boat, an Italian system integrator specializing in marine applications. Under this agreement, NUVERA will supply its E-45 fuel cell engine to H2Boat. The E-45 will undergo marine kind approval certification and will be integrated into H2Boat’s forthcoming HP Energy Pack, boasting a power output greater than 40kW. By adopting hydrogen fuel cells, boats can significantly diminish noise, vibrations, exhaust emissions, and the environmental costs typically associated with diesel-powered vessels. This collaboration is poised to bolster NUVERA's presence in the European market.
   

This Europe hydrogen market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “(USD Billion and MT)” from 2021 to 2034, for the following segments:

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Market, By Type

• Grey
• Blue
• Green

Market, By Application

• Petroleum Refinery
• Chemicals
• Others

The above information has been provided for the following countries:

• Germany
• UK
• France
• Italy
• Netherlands
• Russia