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Europe Hydrogen Market Trends

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

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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.

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.