Hydrogen Hubs Market by Industry (Automotive, Aviation, Marine), Supply Technique (SMR, Electrolysis), End Use (Liquid Hydrogen, Hydrogen Fuel Cell) & Region (North America, Europe, APAC, MEA, & Latin America) - Global Forecast to 2030
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
The hydrogen hubs market is valued at USD 1.8 billion in 2023 and is projected to reach USD 5.9 billion by 2030, at a CAGR of 18.6% from 2023 to 2030. The hydrogen hub market is witnessing substantial growth driven by the emergence of vertically integrated hydrogen infrastructure. These facilities, encompassing production, storage, and distribution, optimize the hydrogen supply chain. Increased spending on hydrogen infrastructure further fuels market expansion, positioning hydrogen hubs as pivotal players in the evolving landscape of clean energy solutions.
Based on industry, the automotive segment will register the highest growth during the forecast period.
Based on industry, the hydrogen hubs market is segmented into automotive, aviation, marine, and others, which includes defense and space. The automotive industry is expected to be a key demand area for hub based hydrogen as the adoption of fuel cells in mobility continues to accelerate. The automotive segment is expected to grow from USD 1.05 billion in 2023 and is projected to reach USD 3.9 billion by 2030, at a CAGR of 20.6% during the forecast period.
Based on supply technique, the electrolysis segment will register the highest growth during the forecast period.
Based on supply technique, the hydrogen hub market is segmented into steam methane reforming (SMR) and electrolysis segments. Of these segments, electrolysis is expected to have the highest growth from USD 1.1 billion in 2023 to USD 3.7 billion in 2030, registering a CAGR of 18.7%. Steam methane reforming (SMR) and electrolysis stand out as the two primary methods for hydrogen production within hydrogen hubs, particularly in the context of blue and green hydrogen. SMR, commonly associated with blue hydrogen, involves the reaction of natural gas with steam to produce hydrogen and carbon dioxide. Although it is a well-established and cost-effective process, the associated carbon emissions necessitate carbon capture and storage (CCS) for environmental sustainability. On the other hand, electrolysis, linked to green hydrogen, utilizes renewable energy to split water into hydrogen and oxygen. While offering a cleaner alternative, electrolysis faces challenges related to high energy costs and the need for significant renewable energy infrastructure. The choice between these methods reflects the ongoing industry debate regarding trade-offs between cost efficiency and environmental impact in the pursuit of a sustainable hydrogen economy.
Based on end use form, liquid hydrogen and fuel cells are the primary products that hydrogen hubs are expected to produce as more hydrogen hubs are developed.
Based in end-use, hydrogen hubs market are segmented into liquid hydrogen and hydrogen fuel cells, which are the primary products from these hubs. Both of these end products-hydrogen fuel cells and liquid hydrogen - have diverse applications within the clean energy sector. Hydrogen fuel cells play a crucial role in powering various transport modes, including automobiles, buses, and trains, as well as providing backup power for industries. The fuel cells' efficiency and environmental benefits make them a key driver for the adoption of hydrogen as a clean energy source. Simultaneously, the production of liquid hydrogen is integral for efficient storage and transportation, especially for long-distance supply chains and applications in industries such as aerospace. The strategic integration of these end products from regional hydrogen hubs reflects the comprehensive approach to harnessing hydrogen's potential across different sectors, contributing to a more sustainable and integrated energy ecosystem.
Based on regions, the Asia Pacific region is estimated to have the highest growth during the forecast period.
The Asia Pacific region is estimated to account for the largest share of the hydrogen hubs market in 2023. The growth of the region is attributed to the rapid developments in alternative energy and fuel technologies to wean away from fossil fuel based energy consumption. This is enhanced by the development of renewable energy propulsion systems for automobiles, ships and aviation segments, which are expected to use hydrogen or hydrogen based duel sources as a primary propellant.
The break-up of the profile of primary participants in the H2H market:
By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
By Designation: C Level - 35%, Director Level - 25%, and Others - 40%
By Region: North America - 25%, Europe - 15%, Asia Pacific - 45%, Middle East& Africa- 10%, Latin America - 5%
Major companies profiled in the report include ARAMCO (Saudi Arabia), AIRBUS (Netherlands), Linde plc (UK), Shell plc(UK) and Sinopec(China), among others.
Research Coverage:
This market study covers the hydrogen hub market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on size, operational orbits, application, component, end user, and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
Reasons to buy this report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall hydrogen hubs market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities. The hydrogen hubs market is experiencing substantial growth, primarily driven by the exchange of real-time information. The increasing trend toward international cooperation and joint operations among nations is fostering demand for hydrogen hubs, contributing to regional and global stability. The report provides insights on the following pointers:
Market Drivers: Market Drivers such as increasing public and private investments in hydrogen and hydrogen fuel cell technologies among other drivers covered in the report.
Market Penetration: Comprehensive information on hydrogen hubs offered by the top players in the market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the hydrogen hubs market
Market Development: Comprehensive information about lucrative markets - the report analyses the hydrogen hubs market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the hydrogen hubs market
Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the hydrogen hubs market
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
FIGURE 1 HYDROGEN HUBS MARKET SEGMENTATION
1.3.1 REGIONAL SCOPE
1.4 YEARS CONSIDERED
1.5 INCLUSIONS AND EXCLUSIONS
TABLE 1 INCLUSIONS AND EXCLUSIONS
1.6 CURRENCY CONSIDERED
TABLE 2 USD EXCHANGE RATES
1.7 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 INTRODUCTION
FIGURE 2 REPORT PROCESS FLOW
FIGURE 3 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
2.2 FACTOR ANALYSIS
2.2.1 INTRODUCTION
2.2.2 DEMAND-SIDE INDICATORS
2.2.3 SUPPLY-SIDE INDICATORS
2.3 MARKET SIZE ESTIMATION AND METHODOLOGY
2.3.1 BOTTOM-UP APPROACH
FIGURE 5 BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 6 TOP-DOWN APPROACH
2.4 DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS
2.5.1 GROWTH RATE ASSUMPTIONS
2.5.2 PARAMETRIC ASSUMPTIONS FOR MARKET FORECAST
2.6 RESEARCH LIMITATIONS
2.7 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
FIGURE 8 ELECTROLYSIS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
FIGURE 9 AUTOMOTIVE TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD
FIGURE 10 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDROGEN HUBS MARKET
FIGURE 11 INCREASED FOCUS ON GREEN AND CLEAN ENERGY SOLUTIONS TO DRIVE MARKET
4.2 HYDROGEN HUBS MARKET, BY SUPPLY TECHNIQUE
FIGURE 12 ELECTROLYSIS SEGMENT DOMINATED MARKET IN 2023
4.3 HYDROGEN HUBS MARKET, BY INDUSTRY
FIGURE 13 AUTOMOTIVE INDUSTRY TO LEAD MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 14 HYDROGEN HUBS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increasing vertical integration of hydrogen production facilities
5.2.1.2 Rising public and private investments in hydrogen and associated fuel cell technologies
5.2.1.3 Growing development of regional green hydrogen hubs
5.2.2 RESTRAINTS
5.2.2.1 Infrastructure and production limitations
5.2.3 OPPORTUNITIES
5.2.3.1 Industrial transition toward green hydrogen
5.2.3.2 Widespread adoption of hydrogen-based mobility
5.2.4 CHALLENGES
5.2.4.1 High production cost and complex storage and transportation
5.2.4.2 Low power density of hydrogen fuel cell stacks
5.3 RECESSION IMPACT ANALYSIS
5.4 INDICATIVE PRICING ANALYSIS
FIGURE 15 NUMBER OF ACTIVE HYDROGEN FUELING STATIONS, BY TOP 10 COUNTRIES
FIGURE 16 NUMBER OF HYDROGEN-ENABLED MARINE PORTS COMMISSIONED AS OF 2023, BY REGION
FIGURE 17 NUMBER OF HYDROGEN-ENABLED AIRPORTS COMMISSIONED AS OF 2023, BY REGION
5.5 VALUE CHAIN ANALYSIS
FIGURE 18 VALUE CHAIN ANALYSIS
5.5.1 R&D
5.5.2 INFRASTRUCTURE DEVELOPMENT
5.5.3 OPERATIONS
5.5.4 POST-PRODUCTION SERVICES
5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
FIGURE 19 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN HYDROGEN HUBS MARKET
5.7 ECOSYSTEM ANALYSIS
5.7.1 PROMINENT COMPANIES
5.7.2 PRIVATE AND SMALL ENTERPRISES
5.7.3 END USERS
FIGURE 20 ECOSYSTEM MAPPING
TABLE 3 ROLE OF PLAYERS IN ECOSYSTEM
FIGURE 21 HUB OPERATORS AND DEVELOPERS
FIGURE 22 SOLUTION PROVIDERS
5.8 TECHNOLOGY ANALYSIS
5.8.1 ELECTROLYSIS
5.8.2 HYDROGEN STORAGE TECHNOLOGIES
5.8.3 CARBON CAPTURE, UTILIZATION, AND STORAGE
5.9 TECHNOLOGICAL ROADMAP
FIGURE 23 EVOLUTION OF HYDROGEN HUBS MARKET: A ROADMAP FROM 2000 TO 2030
5.10 ANALYSIS OF NEW BUSINESS MODELS
5.10.1 AUTOMOTIVE INDUSTRY: FUEL CELL STACKS AND HYDROGEN REFUELING STATIONS
FIGURE 24 NEW BUSINESS MODELS FOR AUTOMOTIVE INDUSTRY BASED ON HYDROGEN HUBS
5.10.2 AVIATION INDUSTRY: HYDROGEN FUEL AND FUEL CELL-POWERED AIRCRAFT
FIGURE 25 NEW BUSINESS MODELS FOR AVIATION INDUSTRY BASED ON HYDROGEN HUBS
5.11 PORTER'S FIVE FORCES ANALYSIS
TABLE 4 IMPACT OF PORTER'S FIVE FORCES
5.11.1 THREAT OF NEW ENTRANTS
5.11.2 THREAT OF SUBSTITUTES
5.11.3 BARGAINING POWER OF SUPPLIERS
5.11.4 BARGAINING POWER OF BUYERS
5.11.5 INTENSITY OF COMPETITIVE RIVALRY
5.12 KEY STAKEHOLDERS AND BUYING CRITERIA
5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY INDUSTRY
TABLE 5 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY INDUSTRY (%)
5.12.2 BUYING CRITERIA
FIGURE 27 KEY BUYING CRITERIA, BY SUPPLY TECHNIQUE
TABLE 6 KEY BUYING CRITERIA, BY SUPPLY TECHNIQUE
5.13 KEY CONFERENCES AND EVENTS, 2023-2024
TABLE 7 KEY CONFERENCES AND EVENTS, 2023-2024
5.14 USE CASE ANALYSIS
5.14.1 HAMBURG GREEN HYDROGEN HUB
5.14.2 IMPROVED HYDROGEN MOBILITY
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 TECHNOLOGY TRENDS
6.2.1 HYDROGEN STORAGE
6.2.2 AMMONIA CRACKING
6.3 IMPACT OF MEGATRENDS
6.3.1 ELECTROLYSIS
6.3.2 ARTIFICIAL INTELLIGENCE
6.3.3 DECARBONIZATION OF SUPPLY CHAIN AND INFRASTRUCTURE
6.4 SUPPLY CHAIN ANALYSIS
FIGURE 28 SUPPLY CHAIN ANALYSIS
6.5 INNOVATIONS AND PATENT ANALYSIS
FIGURE 29 LIST OF MAJOR PATENTS RELATED TO HYDROGEN HUBS MARKET
TABLE 8 LIST OF PATENTS FOR HYDROGEN HUBS MARKET, 2019-2023
6.5.1 TYPES OF HYDROGEN PRODUCED AT HUB FACILITY
FIGURE 30 PRODUCTION AND STORAGE OF GREEN AND BLUE HYDROGEN