Blue Hydrogen Market Size To Reach $12.88 Billion By 2030

Blue Hydrogen Market Growth & Trends

The global blue hydrogen market size is expected to reach USD 12.88 billion by 2030, registering a CAGR of 13.0% from 2025 to 2030, according to a new report by Grand View Research, Inc. This growth is attributed to the presence of favorable government policies and the adoption of hydrogen vehicles in several regions, such as North America and Europe. Several countries have set targets for reducing carbon and Greenhouse Gas (GHG) emissions by adopting hydrogen as an alternative in the energy transition. For instance, in September 2022, the U.S. announced the National Clean Hydrogen Strategy. This strategy was released to adopt the utilization of low-carbon hydrogen (blue hydrogen) to reduce carbon emissions in the country by 2030.

Such strategies and initiatives taken by various governments are driving the market. In addition, the adoption of hydrogen vehicles is increasing in Europe with the launch of several hydrogen-fueled vehicles by major car manufacturers. For instance, in February 2023, BMW announced the launch of the BMW iX5 Hydrogen Sports Activity Vehicle (SAV), which utilizes hydrogen fuel cells. These factors are expected to drive the requirement for increased blue hydrogen production. The industry players are adopting several strategies including partnerships, new product launches, expansions, mergers & acquisitions, joint ventures, and partnership agreements to increase the customer base and individual market share. For instance, on January 5, 2023, Equinor ASA, a Norway-based energy provider agreed to be the official supplier of Germany for low-carbon hydrogen fuel (blue hydrogen).

It will further invest in new power plants in the country that will initially burn natural gas from Norway before transitioning to low-carbon blue hydrogen. The regional market of North America is driven by several policies and strategies released by the government. For instance, in December 2020, the government of Canada released a strategy for hydrogen that stated the aim to commence large-scale production of blue hydrogen by 2030 in the country. Several key companies are collaborating and undergoing expansion strategies to strengthen their industry positions. For instance, on February 16, 2023, Reliance Power, an Indian energy company, announced its plan to launch Dhirubhai Ambani Green Energy Giga Complex in Gujarat to commence operations for blue hydrogen generation and implementing facilities for carbon capture and storage process.

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Blue Hydrogen Market Report Highlights

• Steam methane reforming accounted for the largest revenue share of 60.9% in 2024. The auto thermal reforming segment is expected to grow at the fastest CAGR of 14.3% from 2025 to 2030.

• Power generation accounted for the largest revenue share of 37.2% in 2024. The refinery segment is expected to grow at the fastest CAGR of 14.8% from 2025 to 2030.

• Pipeline accounted for the largest revenue share of 70.0% in 2024. The cryogenic liquid tankers segment is expected to grow at the fastest CAGR of 14.6% from 2025 to 2030.

• The Middle East & Africa blue hydrogen market dominated the blue hydrogen industry with 32.2% of the revenue share in 2024.

• The blue hydrogen market in central & south america is expected to grow at a CAGR of 73.1% over the forecast years.

Blue Hydrogen Market Segmentation

Grand View Research has segmented global blue hydrogen market report based on technology, application, transportation mode, and region:

Blue Hydrogen Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• Steam Methane Reforming

• Gas Partial Oxidation

• Auto Thermal Reforming

Blue Hydrogen Transportation Mode Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• Pipeline

• Cryogenic Liquid Tankers

Blue Hydrogen Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• Chemicals

• Refinery

• Power Generation

• Others

Blue Hydrogen Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Central & South America

  • Brazil

  • Columbia

  • Paraguay

• Middle East & Africa

  • UAE

  • Saudi Arabia

  • Egypt

  • South Africa

List of Key Players of Blue Hydrogen Market

• Linde plc

• Shell Group of Companies

• Air Liquide

• Air Products and Chemicals, Inc.

• Engie

• Equinor ASA

• SOL Group

• Iwatani Corp.

• INOX Air Products Ltd.

• Exxon Mobil Corp.