PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1890548
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1890548
Global Low Carbon Hydrogen Market Size Study & Forecast, by Process (SMR, Electrolysis, Biomass Reforming, PEC Water Splitting, Coal Gasification, Methane Pyrolysis) by Energy Source (Natural Gas, Solar, Wind, Biomass) and Regional Forecasts 2025-2035
The Global Low Carbon Hydrogen Market is valued at approximately USD 27.6 billion in 2024 and is projected to expand at a CAGR of 16.0% over the forecast period 2025-2035. Low carbon hydrogen refers to hydrogen produced with minimal carbon emissions, predominantly derived from renewable energy sources or fossil fuels with carbon capture and storage. Its applications span across energy, industrial, and transportation sectors, providing a cleaner alternative to conventional fossil fuels. The market growth is catalyzed by increasing decarbonization initiatives, government incentives for clean energy, and the global shift toward sustainable fuel solutions, particularly in regions actively pursuing net-zero targets.
The accelerating transition toward renewable energy sources and stringent regulatory frameworks aimed at reducing greenhouse gas emissions are driving the surge in low carbon hydrogen adoption. Advances in production processes such as electrolysis, steam methane reforming with carbon capture, and innovative photoelectrochemical water splitting technologies are unlocking new opportunities for scalable hydrogen generation. According to recent data, global energy demand for low carbon fuels is set to rise sharply in industrial and transport applications, thereby creating a substantial market pull. However, high initial capital expenditure and technology deployment challenges can moderate the pace of adoption in certain regions.
The detailed segments and sub-segments included in the report are:
By Process:
- Steam Methane Reforming (SMR)
- Autothermal Reforming
- Biomass Reforming
- Electrolysis
- Photo Electric Chemical (PEC) Water Splitting
- Thermochemical Water Splitting
- Biomass Gasification
- Coal Gasification
- Methane Pyrolysis
By Energy Source:
- Natural Gas
- Solar
- Wind
- Hybrid
- Biomass
- Geothermal
- Hydro Energy
- Tidal
By End-Product:
- Hydrogen
- Ammonia
- Liquified Hydrogen
- Methane
- Methanol
Steam Methane Reforming (SMR) is expected to dominate the market due to its mature technology, established infrastructure, and ability to produce hydrogen at scale, particularly when paired with carbon capture techniques. Electrolysis, however, is poised to register the fastest growth, driven by plummeting renewable energy costs, supportive policy frameworks, and increasing investments in green hydrogen production facilities. In short, SMR continues to lead in market share, while electrolysis presents the most promising growth trajectory.
Among energy sources, natural gas remains the largest contributor to revenue due to its widespread availability and integration with existing hydrogen production plants. Renewable sources such as solar and wind are expanding rapidly, particularly in Europe and Asia Pacific, reflecting strategic government support and declining renewable electricity costs. This duality creates a market scenario where traditional natural gas-based production underpins current revenue, while renewable-powered hydrogen is driving future growth opportunities.
North America accounted for the largest market share in 2025, supported by strong policy incentives, technological advancements, and robust hydrogen infrastructure development. Europe follows closely, propelled by aggressive decarbonization targets, particularly in Germany, France, and the UK. Asia Pacific is anticipated to be the fastest-growing region, fueled by government-led renewable energy projects, industrial demand, and strategic investments in hydrogen production and storage. Latin America and the Middle East & Africa are emerging as high-potential markets with growing focus on green energy initiatives and international collaborations in hydrogen projects.
Major market players included in this report are:
- Air Products and Chemicals, Inc.
- Linde plc
- Nel ASA
- Cummins Inc.
- Plug Power Inc.
- Thyssenkrupp AG
- Ballard Power Systems
- Toshiba Energy Systems & Solutions Corporation
- Shell PLC
- ITM Power Plc
- Bloom Energy Corporation
- Siemens Energy AG
- Mitsubishi Heavy Industries, Ltd.
- Hyundai Motor Company
- BP PLC
Global Low Carbon Hydrogen Market Report Scope:
- Historical Data - 2023, 2024
- Base Year for Estimation - 2024
- Forecast period - 2025-2035
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained above.
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2025 to 2035.
- Annualized revenues and regional-level analysis for each market segment.
- Detailed analysis of the geographical landscape with country-level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of the competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Low Carbon Hydrogen Market Report Scope & Methodology
- 1.1. Research Objective
- 1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top Down and Bottom-Up Approach
- 1.3. Research Attributes
- 1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
- 1.5. Research Assumption
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study
Chapter 2. Executive Summary
- 2.1. CEO/CXO Standpoint
- 2.2. Strategic Insights
- 2.3. ESG Analysis
- 2.4. key Findings
Chapter 3. Global Low Carbon Hydrogen Market Forces Analysis
- 3.1. Market Forces Shaping The Global Low Carbon Hydrogen Market (2024-2035)
- 3.2. Drivers
- 3.2.1. increasing decarbonization initiatives
- 3.2.2. government incentives for clean energy
- 3.3. Restraints
- 3.3.1. high initial capital expenditure
- 3.4. Opportunities
- 3.4.1. rise sharply in industrial
Chapter 4. Global Low Carbon Hydrogen Industry Analysis
- 4.1. Porter's 5 Forces Model
- 4.1.1. Bargaining Power of Buyer
- 4.1.2. Bargaining Power of Supplier
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Forecast Model (2024-2035)
- 4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top Investment Opportunities
- 4.5. Top Winning Strategies (2025)
- 4.6. Market Share Analysis (2024-2025)
- 4.7. Global Pricing Analysis And Trends 2025
- 4.8. Analyst Recommendation & Conclusion
Chapter 5. Global Low Carbon Hydrogen Market Size & Forecasts by Process 2025-2035
- 5.1. Market Overview
- 5.2. Global Low Carbon Hydrogen Market Performance - Potential Analysis (2025)
- 5.3. Steam Methane Reforming (SMR)
- 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Market size analysis, by region, 2025-2035
- 5.4. Autothermal Reforming
- 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Market size analysis, by region, 2025-2035
- 5.5. Biomass Reforming
- 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.5.2. Market size analysis, by region, 2025-2035
- 5.6. Electrolysis
- 5.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.6.2. Market size analysis, by region, 2025-2035
- 5.7. Photo Electric Chemical (PEC) Water Splitting
- 5.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.7.2. Market size analysis, by region, 2025-2035
- 5.8. Thermochemical Water Splitting
- 5.8.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.8.2. Market size analysis, by region, 2025-2035
- 5.9. Biomass Gasification
- 5.9.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.9.2. Market size analysis, by region, 2025-2035
- 5.10. Coal Gasification
- 5.10.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.10.2. Market size analysis, by region, 2025-2035
- 5.11. Methane Pyrolysis
- 5.11.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.11.2. Market size analysis, by region, 2025-2035
Chapter 6. Global Low Carbon Hydrogen Market Size & Forecasts by Energy Source 2025-2035
- 6.1. Market Overview
- 6.2. Global Low Carbon Hydrogen Market Performance - Potential Analysis (2025)
- 6.3. Natural Gas
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market size analysis, by region, 2025-2035
- 6.4. Solar
- 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Market size analysis, by region, 2025-2035
- 6.5. Wind
- 6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.5.2. Market size analysis, by region, 2025-2035
- 6.6. Hybrid
- 6.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.6.2. Market size analysis, by region, 2025-2035
- 6.7. Biomass
- 6.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.7.2. Market size analysis, by region, 2025-2035
- 6.8. Geothermal
- 6.8.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.8.2. Market size analysis, by region, 2025-2035
- 6.9. Hydro Energy
- 6.9.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.9.2. Market size analysis, by region, 2025-2035
- 6.10. Tidal
- 6.10.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.10.2. Market size analysis, by region, 2025-2035
Chapter 7. Global Low Carbon Hydrogen Market Size & Forecasts by End-Product 2025-2035
- 7.1. Market Overview
- 7.2. Global Low Carbon Hydrogen Market Performance - Potential Analysis (2025)
- 7.3. Hydrogen
- 7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.3.2. Market size analysis, by region, 2025-2035
- 7.4. Ammonia
- 7.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.4.2. Market size analysis, by region, 2025-2035
- 7.5. Liquified Hydrogen
- 7.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.5.2. Market size analysis, by region, 2025-2035
- 7.6. Methane
- 7.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.6.2. Market size analysis, by region, 2025-2035
- 7.7. Methanol
- 7.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.7.2. Market size analysis, by region, 2025-2035
Chapter 8. Global Low Carbon Hydrogen Market Size & Forecasts by Region 2025-2035
- 8.1. Growth Low Carbon Hydrogen Market, Regional Market Snapshot
- 8.2. Top Leading & Emerging Countries
- 8.3. North America Low Carbon Hydrogen Market
- 8.3.1. U.S. Low Carbon Hydrogen Market
- 8.3.1.1. Process breakdown size & forecasts, 2025-2035
- 8.3.1.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.3.1.3. End-Product breakdown size & forecasts, 2025-2035
- 8.3.2. Canada Low Carbon Hydrogen Market
- 8.3.2.1. Process breakdown size & forecasts, 2025-2035
- 8.3.2.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.3.2.3. End-Product breakdown size & forecasts, 2025-2035
- 8.3.1. U.S. Low Carbon Hydrogen Market
- 8.4. Europe Low Carbon Hydrogen Market
- 8.4.1. UK Low Carbon Hydrogen Market
- 8.4.1.1. Process breakdown size & forecasts, 2025-2035
- 8.4.1.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.4.1.3. End-Product breakdown size & forecasts, 2025-2035
- 8.4.2. Germany Low Carbon Hydrogen Market
- 8.4.2.1. Process breakdown size & forecasts, 2025-2035
- 8.4.2.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.4.2.3. End-Product breakdown size & forecasts, 2025-2035
- 8.4.3. France Low Carbon Hydrogen Market
- 8.4.3.1. Process breakdown size & forecasts, 2025-2035
- 8.4.3.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.4.3.3. End-Product breakdown size & forecasts, 2025-2035
- 8.4.4. Spain Low Carbon Hydrogen Market
- 8.4.4.1. Process breakdown size & forecasts, 2025-2035
- 8.4.4.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.4.4.3. End-Product breakdown size & forecasts, 2025-2035
- 8.4.5. Italy Low Carbon Hydrogen Market
- 8.4.5.1. Process breakdown size & forecasts, 2025-2035
- 8.4.5.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.4.5.3. End-Product breakdown size & forecasts, 2025-2035
- 8.4.6. Rest of Europe Low Carbon Hydrogen Market
- 8.4.6.1. Process breakdown size & forecasts, 2025-2035
- 8.4.6.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.4.6.3. End-Product breakdown size & forecasts, 2025-2035
- 8.4.1. UK Low Carbon Hydrogen Market
- 8.5. Asia Pacific Low Carbon Hydrogen Market
- 8.5.1. China Low Carbon Hydrogen Market
- 8.5.1.1. Process breakdown size & forecasts, 2025-2035
- 8.5.1.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.5.1.3. End-Product breakdown size & forecasts, 2025-2035
- 8.5.2. India Low Carbon Hydrogen Market
- 8.5.2.1. Process breakdown size & forecasts, 2025-2035
- 8.5.2.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.5.2.3. End-Product breakdown size & forecasts, 2025-2035
- 8.5.3. Japan Low Carbon Hydrogen Market
- 8.5.3.1. Process breakdown size & forecasts, 2025-2035
- 8.5.3.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.5.3.3. End-Product breakdown size & forecasts, 2025-2035
- 8.5.4. Australia Low Carbon Hydrogen Market
- 8.5.4.1. Process breakdown size & forecasts, 2025-2035
- 8.5.4.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.5.4.3. End-Product breakdown size & forecasts, 2025-2035
- 8.5.5. South Korea Low Carbon Hydrogen Market
- 8.5.5.1. Process breakdown size & forecasts, 2025-2035
- 8.5.5.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.5.5.3. End-Product breakdown size & forecasts, 2025-2035
- 8.5.6. Rest of APAC Low Carbon Hydrogen Market
- 8.5.6.1. Process breakdown size & forecasts, 2025-2035
- 8.5.6.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.5.6.3. End-Product breakdown size & forecasts, 2025-2035
- 8.5.1. China Low Carbon Hydrogen Market
- 8.6. Latin America Low Carbon Hydrogen Market
- 8.6.1. Brazil Low Carbon Hydrogen Market
- 8.6.1.1. Process breakdown size & forecasts, 2025-2035
- 8.6.1.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.6.1.3. End-Product breakdown size & forecasts, 2025-2035
- 8.6.2. Mexico Low Carbon Hydrogen Market
- 8.6.2.1. Process breakdown size & forecasts, 2025-2035
- 8.6.2.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.6.2.3. End-Product breakdown size & forecasts, 2025-2035
- 8.6.1. Brazil Low Carbon Hydrogen Market
- 8.7. Middle East and Africa Low Carbon Hydrogen Market
- 8.7.1. UAE Low Carbon Hydrogen Market
- 8.7.1.1. Process breakdown size & forecasts, 2025-2035
- 8.7.1.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.7.1.3. End-Product breakdown size & forecasts, 2025-2035
- 8.7.2. Saudi Arabia (KSA) Low Carbon Hydrogen Market
- 8.7.2.1. Process breakdown size & forecasts, 2025-2035
- 8.7.2.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.7.2.3. End-Product breakdown size & forecasts, 2025-2035
- 8.7.3. South Africa Low Carbon Hydrogen Market
- 8.7.3.1. Process breakdown size & forecasts, 2025-2035
- 8.7.3.2. Energy Source breakdown size & forecasts, 2025-2035
- 8.7.3.3. End-Product breakdown size & forecasts, 2025-2035
- 8.7.1. UAE Low Carbon Hydrogen Market
Chapter 9. Competitive Intelligence
- 9.1. Top Market Strategies
- 9.2. Air Products and Chemicals, Inc.
- 9.2.1. Company Overview
- 9.2.2. Key Executives
- 9.2.3. Company Snapshot
- 9.2.4. Financial Performance (Subject to Data Availability)
- 9.2.5. Product/Services Port
- 9.2.6. Recent Development
- 9.2.7. Market Strategies
- 9.2.8. SWOT Analysis
- 9.3. Linde plc
- 9.4. Nel ASA
- 9.5. Cummins Inc.
- 9.6. Plug Power Inc.
- 9.7. Thyssenkrupp AG
- 9.8. Ballard Power Systems
- 9.9. Toshiba Energy Systems & Solutions Corporation
- 9.10. Shell PLC
- 9.11. ITM Power Plc
- 9.12. Bloom Energy Corporation
- 9.13. Siemens Energy AG
- 9.14. Mitsubishi Heavy Industries, Ltd.
- 9.15. Hyundai Motor Company
- 9.16. BP PLC
