Summary

Global Blue Hydrogen Market Size, Share & Trends Analysis Report By Type, By Packaging, By Region, and Segment Forecasts, 2023 – 2030
The Global Blue Hydrogen Market was valued around US $18.7 Billion in 2022 and is expected to reach US $44.9 Billion by 2030 with a CAGR of 13.23% during the forecast period.
Blue hydrogen is produced using carbon capture and storage (CCS) technology in combination with steam methane reforming (SMR) or autothermal reforming (ATR) technologies. As it aims to lower the greenhouse gas emissions associated with traditional methods of manufacturing hydrogen, it is an important breakthrough in the clean energy space. The integration of carbon capture and storage with hydrogen production presents a multitude of significant climatic benefits. Because it emits fewer greenhouse gases, blue hydrogen can play a major role in the decarbonisation of hard-to-reform industries like transportation and heavy industry.
According to recent predictions from the Hydrogen Council, there might be a demand for hydrogen exceeding 530 million metric tonnes per year by 2050. If clean hydrogen were to meet this need, there could be a 6 billion tonne carbon dioxide reduction in that year alone (Hydrogen Council, 2017). In many industries, including steel, cement, and chemicals, hydrogen is the sole feasible substitute as a feedstock or reducing agent. The carbon capture technology used by blue hydrogen allows these "hard-to-abate" sectors to keep their businesses going while cutting their carbon emissions dramatically.
The increasing emphasis on lowering greenhouse gas emissions and supporting renewable energy sources is driving the worldwide blue hydrogen industry. Oil refining accounts for more than half of the demand for blue hydrogen. Huge amounts of hydrogen are used in refineries to remove sulphur from crude oil so that compounds like petrol and diesel can be produced. After that, the generated carbon dioxide emissions are taken in and subterranean carbon capture utilisation and storage (CCUS) technology is used to leave almost pure hydrogen. Growing need for hydrogen in sectors that are hard to decarbonise using other renewable energy sources, like steel, chemicals, and refining. Beyond the oil refining sector, blue hydrogen is becoming more and more in demand in other difficult industries like steel and chemicals. These sectors rely substantially on hydrogen since it is necessary for numerous industrial processes and because using blue hydrogen instead of conventional hydrogen can cut carbon emissions dramatically. Governments everywhere are taking the initiative to create and advance hydrogen technologies, especially the creation of blue hydrogen. For example, they could offer research money, tax credits, grants, and subsidies to promote the expansion of this important industry. It is anticipated that these actions will increase the uptake of hydrogen technologies and assist nations in meeting their climate commitments.
“Steam Methane Reforming (SMR) segment, by technology, to be dominating market from 2023 to 2030.”
The market is split into three segments based on technology: Auto Thermal Reforming (ATR), Gas Partial Oxidation (POX), and Steam Methane Reforming (SMR). The global blue hydrogen market was led by Steam Methane Reforming (SMR) in 2022, and this trend is anticipated to continue during the forecast period. Growing global trends towards renewable energy and an increase in government initiatives to switch to sustainable energy sources are driving up demand for SMR. Achieving net zero emissions by 2050 will require technological advancements in the energy sector. Carbon capture, utilisation, and storage (CCUS), energy efficiency, electricity, renewable energy, behavioural change, and hydrogen are predicted to be the main pillars for decarbonising the world energy system. Because of the growing demand for blue hydrogen worldwide, the Auto Thermal Reforming (ATR) market is expected to develop at the quickest rate throughout the projected period. The blue hydrogen industry has seen a rise in investments from the public and private sectors. Because they recognise the potential of hydrogen as a low-carbon energy source, governments and corporations worldwide are investing in research, development, and pilot projects related to the creation of blue hydrogen and carbon capture technology.
“Petroleum refineries segment, by end user, to be dominating market from 2023 to 2030.”
The market is segmented into the chemical sector, power generation facilities, and petroleum refineries based on the end user. The global blue hydrogen market was dominated by petroleum refineries in 2022, and this trend is anticipated to continue during the forecast period. At refineries, hydrogen plays a crucial role in the creation of valuable products. However, in order to comply with strict government rules, businesses are compelled to reduce their carbon footprint. Furthermore, the government of the United Kingdom said that it will be providing $185 million towards the goal of decarbonising industrial clusters.
Research is also being done on the viability of using hydrogen for buildings and the possibility of incorporating up to 20% hydrogen into the infrastructure of natural gas. The UK's program existence will support the market's growth.
“North America to be largest region in Blue Hydrogen Market.”
The market is segmented geographically into North America, Europe, Asia-Pacific, and other regions. In 2022, the blue hydrogen market was led by North America. The main reasons for North America's strong market share include the country's growing knowledge of, access to, and affordability of blue hydrogen.
Throughout the projection period, APAC is expected to grow at the quickest rate since various industries are always conducting research to create new forms of blue hydrogen. Additionally, in support of government initiatives to lower carbon emissions, this region has witnessed a rise in the use of associated technologies and green fuel substitutes. The widespread adoption of inexpensive, sustainable energy solutions is a result of the rapid urbanisation and industrialisation that is taking place in nations like China and India.
Blue Hydrogen Competitive Landscape
The competitive landscape of the Blue Hydrogen Market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Blue Hydrogen technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.
The Blue Hydrogen Market is highly competitive, with numerous companies vying for market share. Prominent companies in the Blue Hydrogen Market include:
Major Players:
ATCO
Siemens
Others
Leading Canadian diversified energy and infrastructure firm ATCO has a large presence in both Australia and Canada. The corporation is a major player in the energy and infrastructure sectors because to its broad portfolio, which includes electricity, natural gas, pipelines, logistics, and construction. The Canadian government made investments in Alberta's clean hydrogen industry in 2022.
Together, the government and business community are constructing a robust and clean economy that will create decent jobs and establish Canada as a trustworthy energy provider in the net-zero globe.
The market's second-largest source of revenue is Siemens. It is a major worldwide force that specialises in digitalisation, automation, and electrification. It is a global powerhouse with electrification, automation, and digitisation as top priorities. The German multinational manufactures everything from factory automation and power distribution systems to building technology and healthcare products. Siemens and Egyptian Electricity Holding Co. signed a deal in 2022 to increase blue hydrogen production by storing CO2 in exhausted gas sources.
Recent Developments:
• March 8, 2022: Air Products Inc. stated that a new liquid hydrogen manufacturing plant will be built and run in Casa Grande, Arizona. By 2023, it will be a liquid hydrogen facility with zero carbon emissions.
• January 28, 2022: A contract between Yara and Linde plc for the construction and delivery of a 24 MW hydrogen plant has been inked.

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Table of Contents

1 Introduction
1.1 Research Scope
1.2 Market Segmentation
1.3 Research Methodology
2 Executive Summary
3 Market Dynamic
3.1 Market Drivers
3.2 Market Restraints
3.3 Market Opportunities
4 Key Insights
4.1 Number of Major Developments on Blue Hydrogen Performed in Key Countries, 2021/2022
4.2 New Product Launches, By Key Players
4.3 Key Industry Developments
4.4 Impact of COVID-19 on the Blue Hydrogen Market
4.5 Regulatory & Reimbursement Scenario, By Key Countries
5 Global Blue Hydrogen Market Analysis, Insights and Forecast, 2019-2030
5.1 Market Analysis, Insights and Forecast – By Technology
5.1.1 Steam Methane Reforming (SMR)
5.1.2 Gas Partial Oxidation (POX)
5.1.3 Auto Thermal Reforming (ATR)
5.2 Market Analysis, Insights and Forecast – By End User
5.2.1 Petroleum Refineries
5.2.2 Chemical Industry
5.2.3 Power Generation Facilities
5.5 Market Analysis, Insights and Forecast – By Region
5.5.1 North America
5.5.2 Europe
5.5.3 Asia Pacific
5.5.4 Latin America
5.3.5 Middle East & Africa
6 North America Blue Hydrogen Market Analysis, Insights and Forecast, 2019-2030
6.1 Market Analysis, Insights and Forecast – By Technology
6.1.1 Steam Methane Reforming (SMR)
6.1.2 Gas Partial Oxidation (POX)
6.1.3 Auto Thermal Reforming (ATR)
6.2 Market Analysis, Insights and Forecast – By End User
6.2.1 Petroleum Refineries
6.2.2 Chemical Industry
6.2.3 Power Generation Facilities
6.3 Market Analysis, Insights and Forecast – By Country
6.3.1 U.S.
6.3.1.1 By Technology
6.3.2 Canada
6.3.2.1 By Technology
7 Europe Blue Hydrogen Market Analysis, Insights and Forecast, 2019-2030
7.1 Market Analysis, Insights and Forecast – By Technology
7.1.1 Steam Methane Reforming (SMR)
7.1.2 Gas Partial Oxidation (POX)
7.1.3 Auto Thermal Reforming (ATR)
7.2 Market Analysis, Insights and Forecast – By End User
7.2.1 Petroleum Refineries
7.2.2 Chemical Industry
7.2.3 Power Generation Facilities
7.3 Market Analysis, Insights and Forecast – By Country
7.3.1 Germany
7.3.1.1 By Technology
7.3.2 U.K.
7.3.2.1 By Technology
7.3.3 France
7.3.1.1 By Technology
7.3.4 Italy
7.3.4.1 By Technology
7.3.5 Spain
7.3.5.1 By Technology
7.3.6 Scandinavia
7.3.6.1 By Technology
7.3.7 Rest of Europe
7.3.7.1 By Technology
8 Asia Pacific Blue Hydrogen Market Analysis, Insights and Forecast, 2019-2030
8.1 Market Analysis, Insights and Forecast – By Technology
8.1.1 Steam Methane Reforming (SMR)
8.1.2 Gas Partial Oxidation (POX)
8.1.3 Auto Thermal Reforming (ATR)
8.2 Market Analysis, Insights and Forecast – By End User
8.2.1 Petroleum Refineries
8.2.2 Chemical Industry
8.2.3 Power Generation Facilities
8.3 Market Analysis, Insights and Forecast – By Country
8.3.1 China
8.3.1.1 By Technology
8.3.2 India
8.3.2.1 By Technology
8.3.3 Japan
8.3.1.1 By Technology
8.3.4 Australia
8.3.2.1 By Technology
8.3.5 Southeast Asia
8.3.1.1 By Technology
8.3.6 Rest of Asia Pacific
8.3.2.1 By Technology
9 Latin America Blue Hydrogen Market Analysis, Insights and Forecast, 2019-2030
9.1 Market Analysis, Insights and Forecast – By Technology
9.1.1 Steam Methane Reforming (SMR)
9.1.2 Gas Partial Oxidation (POX)
9.1.3 Auto Thermal Reforming (ATR)
9.2 Market Analysis, Insights and Forecast – By End User
9.2.1 Petroleum Refineries
9.2.2 Chemical Industry
9.2.3 Power Generation Facilities
9.3 Market Analysis, Insights and Forecast – By Country
9.3.1 Brazil
9.3.1.1 By Technology
9.3.2 Mexico
9.3.2.1 By Technology
9.3.3 Rest of Latin America
9.3.1.1 By Technology
10 Middle East & Africa Blue Hydrogen Market Analysis, Insights and Forecast, 2019-2030
10.1 Market Analysis, Insights and Forecast – By Technology
10.1.1 Steam Methane Reforming (SMR)
10.1.2 Gas Partial Oxidation (POX)
10.1.3 Auto Thermal Reforming (ATR)
10.2 Market Analysis, Insights and Forecast – By End User
10.2.1 Petroleum Refineries
10.2.2 Chemical Industry
10.2.3 Power Generation Facilities
10.3 Market Analysis, Insights and Forecast – By Country
10.3.1 GCC Countries
10.3.1.1 By Technology
10.3.2 South Africa
10.3.2.1 By Technology
10.3.3 Rest of Middle East & Africa
10.3.1.1 By Technology
11 Competitive Analysis
11.1 Global Market Share Analysis (2022)
11.2 Company Profiles (Overview, Products, SWOT analysis, Recent developments, strategies, financials (based on availability))
11.2.1 Safran SA
11.2.1.1 Overview
11.2.1.2 Products
11.2.1.3 SWOT analysis
11.2.1.4 Recent developments
11.2.1.5 strategies
11.2.1.6 financials (based on availability)
11.2.2 General Electric (GE)
11.2.2.1 Overview
11.2.2.2 Products
11.2.2.3 SWOT analysis
11.2.2.4 Recent developments
11.2.2.5 strategies
11.2.2.6 financials (based on availability)
11.2.3 United Technologies Corporation (UTC)
11.2.3.1 Overview
11.2.3.2 Products
11.2.3.3 SWOT analysis
11.2.3.4 Recent developments
11.2.3.5 strategies
11.2.3.6 financials (based on availability)
11.2.4 Rolls Royce holdings plc
11.2.4.1 Overview
11.2.4.2 Products
11.2.4.3 SWOT analysis
11.2.4.4 Recent developments
11.2.4.5 strategies
11.2.4.6 financials (based on availability)
11.2.5 Honeywell International Inc.
11.2.5.1 Overview
11.2.5.2 Products
11.2.5.3 SWOT analysis
11.2.5.4 Recent developments
11.2.5.5 strategies
11.2.5.6 financials (based on availability)
11.2.6 Northrop Grumman
11.2.6.1 Overview
11.2.6.2 Products
11.2.6.3 SWOT analysis
11.2.6.4 Recent developments
11.2.6.5 strategies
11.2.6.6 financials (based on availability)
11.2.7 Raytheon corporation (RTX)
11.2.7.1 Overview
11.2.7.2 Products
11.2.7.3 SWOT analysis
11.2.7.4 Recent developments
11.2.7.5 strategies
11.2.7.6 financials (based on availability)
11.2.8 GKN Aerospace
11.2.8.1 Overview
11.2.8.2 Products
11.2.8.3 SWOT analysis
11.2.8.4 Recent developments
11.2.8.3 strategies
11.2.8.6 financials (based on availability)
11.2.9 Linde PLC
11.2.9.1 Overview
11.2.9.2 Products
11.2.9.3 SWOT analysis
11.2.9.4 Recent developments
11.2.9.5 strategies
11.2.9.6 financials (based on availability)
11.2.10 Shell PLC
11.2.10.1 Overview
11.2.10.2 Products
11.2.10.3 SWOT analysis
11.2.10.4 Recent developments
11.2.10.5 strategies
11.2.10.6 financials (based on availability)