US Hydrogen Generation Market

The report "US Hydrogen Generation Market by Source (Blue, Green, Gray), Application (Refinery, Ammonia, Methanol, Transportation, Power Generation) - Forecast to 2030" is projected to reach USD 33.27 billion by 2030 from USD 21.74 billion in 2024; it is expected to grow at a CAGR of 7.2% from 2025 to 2030.

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Hydrogen manufacturing is growing at an increasingly fast pace in the US, with a major impetus from numerous levels of government supplying strong incentives to reduce carbon emissions and facilitate the switch to clean energy. The 2022 federal Inflation Reduction Act introduced large production tax credits of as much as USD 3 per kilogram of clean hydrogen, which have improved project feasibility considerably, resulting in much larger capital commitments to both low-carbon and green hydrogen manufacturing. The US Department of Energy has allocated approximately USD 7 billion for Regional Clean Hydrogen Hubs (H2Hubs) to establish integrated hydrogen manufacturing ecosystems across numerous states. Currently, the US produces approximately 10 million metric tons of hydrogen each year, which is mainly used to produce refined petroleum products and ammonia, both of which can serve as the basis for scaling low-carbon alternatives. The increase in demand from transportation, especially heavy-duty trucking and yard handling, will lead to high demand for hydrogen.

The blue hydrogen segment to record second-highest CAGR in US hydrogen generation market, by Source, during forecast period.

Blue hydrogen is made from natural gas and has a lower carbon footprint than gray hydrogen due to the use of carbon capture, storage, and utilization (CCUS). There is strong government support for blue hydrogen through tax incentives such as the Section 45Q carbon capture credit and clean hydrogen incentives under the Inflation Reduction Act. The abundance of natural gas resources, the existing infrastructure for producing steam methane reforming (SMR) hydrogen, and the growth of the carbon capture and storage sector in the United States mean that blue hydrogen will see accelerated adoption across industries such as refining, chemicals, and generating electricity. As these industries continue to seek transitional solutions to meet their decarbonization commitments without disrupting existing operations, there will be rapid growth in the use of blue hydrogen in the market.

Ammonia production segment, by application, to hold second-largest share of US hydrogen generation market throughout forecast period.

Hydrogen is an essential component in the process for producing ammonia using the Haber-Bosch technique; ammonia, which is a compound made of nitrogen and hydrogen, is commonly used as a fertilizer in agriculture and in various other industrial processes. US ammonia production is significant because of the continued increase in agricultural demand resulting in ongoing hydrogen consumption. In addition to strong agricultural demand, there are a large number of ammonia production facilities and inexpensive and easy access to natural gas that further supports hydrogen use in this industry. In spite of the continued dominance of petroleum refining as the primary use for hydrogen, ammonia production continues to consume a large volume of hydrogen, and thus ammonia production represents the second-largest segment of the US hydrogen generation market.

Numerous companies are involved in hydrogen production, with a significant portion of large-scale facilities in the United States. Prominent participants include Linde plc (Ireland), Air Liquide (France), Air Products and Chemicals, Inc. (US), Chevron Corporation (US), Exxon Mobil Corporation (US), Iberdrola, S.A. (Spain), and BP p.l.c. (UK), among others.

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