The global blue hydrogen market is projected to reach USD 44.5 billion by 2030 and USD 18.2 billion by 2022, at a CAGR of 11.9% from 2022 to 2030. The factors driving the blue hydrogen market growth are the increasing demand for hydrogen in petroleum refineries and transportation and power generation applications.
The global blue hydrogen market is dominated by a few globally established players such as Shell Plc (US), Linde plc (Ireland), ExxonMobil Corporation (US), Air Liquide (France), and Air Products Inc. (US). These players have adopted various growth strategies, such as partnerships, agreements, collaborations, and product launches, to increase their presence in the global market.
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Shell plc is one of the leading multinational energy and petrochemical companies that deliver technologies, solutions, and services for net zero emissions in the energy industry. It offers technologies and services for the production of clean hydrogen. The company operates its business through five segments: Integrated Gas, Upstream, Oil Products, Chemicals, and Corporate. Shell plc has operations in more than 70 countries in North America, South America, Europe, Asia, Oceania, and Africa.
Linde plc is one of the leading industrial gas companies with a portfolio of technologies and services catering to the energy and industrial value chain. The company offers its customers a wide range of gas production and services, such as natural gas plants, olefin plants, air separation plants, and hydrogen and synthesis gas plants. The company operates its business primarily through three regional segments: Americas, EMEA (Europe/Middle East/ Africa), and APAC (Asia/South Pacific). Further, the company also operates through a fourth segment, Engineering, which manufactures equipment for air separation and industrial gas applications. The company operates through affiliates, subsidiaries, alliances, and ventures and operates in more than 85 countries. The company has a presence globally, especially in Europe, the Middle East & Africa, Asia Pacific, and North and South America.
ExxonMobil Corporation specializes in the manufacturing, trade, and sale of natural gases, crude oil, petroleum products, and other such products in the global energy and oil & gas industries. The company also offers Low Carbon Solutions (LCS), including technologies such as carbon capture and storage (CCS), hydrogen, and advanced biofuels. The company operates through three business segments: Upstream, Downstream, and Chemical. The company has recently established a new segment, Low Carbon Solutions, which focuses on lower-emission technologies such as carbon capture and storage, hydrogen, and biofuels. Under carbon capture and storage, the company offers its recently developed technology, metal-organic frameworks (MOFs), which cater to the blue hydrogen market.
Blue Hydrogen Market by Technology (Steam Methane Reforming (SMR), Gas Partial Oxidation (POX), Auto Thermal Reforming (ATR)), End User (Petroleum Refineries, Chemical Industry, Power Generation Facilities) and Region - Forecast to 2030
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