Blue Hydrogen Market Share

North America Market Statistics

Blue Hydrogen market in the North American region is estimated to hold the largest with a share of about 42% by the end of 2037. The market growth in the region is also expected on account of growing government initiative to utilize hydrogen. Around USD 7 billion has been set aside by the US government to aggressively support the construction of hydrogen hubs, or H2Hubs, around the nation that will employ several production techniques, denoted by colors such as pink, blue, and green hydrogen. Besides this, to spur the US clean hydrogen market, the use of clean hydrogen to power heavy industries such as aluminum and steel is being emphasized.

In addition, nearly all hydrogen produced commercially in the US is created via steam-methane reforming where natural gas is the main methane source for hydrogen synthesis. Moreover, large central plants that reform natural gas create more than 90% of the hydrogen produced in the United States today. For instance, the United States produces over 9 million metric tons of hydrogen yearly, or slightly more than 1 quadrillion BTUs.

European Market Analysis

The European region will also witness huge growth for the blue hydrogen market during the forecast period and will hold the second position led by the growing focus on sustainability. Numerous efforts to support sustainable development and enterprises have been put into place as a result of the new EU growth strategy's emphasis on sustainability, such as the European Green Deal, which seeks to achieve carbon neutrality for the EU by 2050. The EU has set high goals to boost the use of renewable energy sources and cut greenhouse gas emissions, has also made significant investments in environmentally friendly transportation, and has instituted laws and programs to bolster companies that are dedicated to sustainability.

Additionally, blue hydrogen contributes to enhancing energy security and diversification by reducing dependence on imported fossil fuels. By utilizing domestic natural gas resources and investing in hydrogen production infrastructure, European countries can strengthen their independence and resilience to supply disruptions, as a result all these factors culminatively contribute the market growth.