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Europe Hydrogen Market Size

Report ID: GMI6742
Published Date: Nov 2024
Report Format: PDF

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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.

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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.

Europe Hydrogen Market Report Attributes
Report Attribute	Details
Base Year:	2024
Europe Hydrogen Market Size in 2024:	USD 40.2 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	4.2%
2034 Value Projection:	USD 60.1 Billion
Historical Data for:	2021 to 2023
No. of Pages:	50
Tables, Charts & Figures:	20
Segments covered:	Application, Type and Country
Growth Drivers:	Favorable laws and regulations Increasing emphasis on clean energy Technological development
Pitfalls & Challenges:	Safety Concerns

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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.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The European market for hydrogen was reached USD 40.2 billion in 2024 and is estimated to grow at a 4.2% CAGR from 2025 to 2032, driven by favorable laws and regulations.

The blue hydrogen market is projected to surpass USD 5 billion by 2034, due to policy support, technological advancements, and the availability of carbon capture and storage infrastructure.

The petroleum refinery segment is expected to witness a CAGR of over 4% through 2034, fueled by increasing investments in desulfurizing petroleum products and rising industrial use of methanol.

The Germany hydrogen market is anticipated to reach USD 5.2 billion by 2034, led by national hydrogen strategies and government initiatives to scale up production and infrastructure.

Key players in the Europe hydrogen industry include 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, and Enel Spa.