Hydrogen Global Market Report 2026

Hydrogen emerges as a by-product during the industrial chlorine production process through electrolysis. Despite the need for expensive technologies, hydrogen can undergo cooling, compression, and purification for on-site utilization in other processes or can be sold to customers through pipelines, cylinders, or trucks.

The distribution of hydrogen through pipelines employs high-pressure tube trailers or cylinders. A pipeline, in this context, refers to a series of pipes equipped with pumps, valves, and control devices designed for the conveyance of liquids, gases, or finely divided solids. The applications span various industries, including chemicals, refineries, metal processing, and others. Diverse end-users encompass chemicals, aerospace, automotive, energy, refining, glass, welding, metal fabrication, and additional sectors.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are influencing the hydrogen market by increasing costs of electrolyzers, compression equipment, storage vessels, and pipeline components used in hydrogen production and distribution. Energy and chemical hubs in North America and Europe are most affected due to reliance on imported equipment, while Asia-Pacific faces cost pressure on hydrogen transport infrastructure. These tariffs are raising project development costs and slowing deployment timelines. However, they are also supporting domestic manufacturing of hydrogen equipment, local supply chain development, and regional hydrogen hub initiatives.

The hydrogen market research report is one of a series of new reports from The Business Research Company that provides hydrogen market statistics, including hydrogen industry global market size, regional shares, competitors with a hydrogen market share, detailed hydrogen market segments, market trends and opportunities, and any further data you may need to thrive in the hydrogen industry. This hydrogen market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hydrogen market size has grown strongly in recent years. It will grow from $47.66 billion in 2025 to $52.25 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to expansion of chlor-alkali production, growth of refinery hydrogen consumption, increasing use in metal processing, availability of industrial hydrogen by-product streams, expansion of pipeline infrastructure.

The hydrogen market size is expected to see strong growth in the next few years. It will grow to $75.92 billion in 2030 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to increasing investments in low-carbon hydrogen projects, rising demand from fuel cell applications, expansion of hydrogen distribution networks, growing adoption in energy transition projects, increasing focus on hydrogen purity standards. Major trends in the forecast period include growing adoption of hydrogen as an industrial feedstock, rising use in refining and chemical processing, expansion of pipeline-based hydrogen distribution, increasing demand for high-purity hydrogen, enhanced focus on on-site hydrogen generation.

The stringent fuel emission norms are expected to propel the growth of the hydrogen market. Fuel emission norms refer to the legally established limits on the number of pollutants and greenhouse gases that vehicles, such as cars, trucks, and motorcycles, are allowed to emit into the environment. Fuel emission regulations push industries and governments to seek cleaner energy sources, making hydrogen an attractive option. Hydrogen is used in zero-emission transportation, decarbonizing industries, and energy storage, aligning with emission reduction goals. For instance, in April 2023, according to the United States Environmental Protection Agency (EPA), a US-based government agency, the EPA proposed stricter emissions standards for light- and medium-duty vehicles, targeting various pollutants emitted by vehicles, including greenhouse gases, ozone, particulate matter, and air toxics. The proposed standards are projected to result in a 56% reduction in projected fleet average GHG emissions target levels for light-duty vehicles in 2032 compared to the existing 2026 standards. Therefore, the stringent fuel emission norms are driving the growth of the hydrogen market.

Major companies in the hydrogen mobility market are focusing on developing advanced fuel cell electric vehicles (FCEVs) with improved performance, longer driving ranges, and innovative designs to promote hydrogen adoption in transportation. Fuel cell technology generates electricity from hydrogen gas through an electrochemical reaction, producing only water as a byproduct. For instance, in April 2025, Hyundai Motor, a South Korea-based automotive manufacturer, unveiled the all-new NEXO FCEV, featuring a bold new design, enhanced fuel cell efficiency, and advanced driver-assistance systems. The vehicle demonstrates Hyundai's commitment to sustainable mobility by integrating cutting-edge hydrogen technology to provide extended range, faster refueling, and reduced environmental impact. The launch of the all-new NEXO offers consumers the benefits of zero-emission driving, lower operating costs, and a more sustainable alternative to conventional vehicles.

In September 2025, Electric Hydrogen, a U.S.-based clean energy company, acquired Ambient Fuels for an undisclosed amount. Through this acquisition, Electric Hydrogen aims to establish a global project financing capability with Generate Capital, accelerate the rollout of hydrogen infrastructure, expand its clean energy solutions portfolio, and strengthen long-term project development and financing strategies. Ambient Fuels LLC is a U.S.-based company specializing in hydrogen production and fuel solutions.

Major companies operating in the hydrogen market are Shell plc, Chevron Corporation, BP p.l.c., TotalEnergies SE, Equinor ASA, Exxon Mobil Corporation, Saudi Arabian Oil Company (Saudi Aramco), Linde plc, Air Liquide S.A., Air Products and Chemicals, Inc., Engie S.A., Uniper SE, Plug Power Inc., Bloom Energy Corporation, Hydrogenics Corporation, Nel ASA, Cummins Inc., Ballard Power Systems Inc., Siemens Energy AG, Mitsubishi Heavy Industries, Ltd., Kawasaki Heavy Industries, Ltd., Toyota Motor Corporation, Hyundai Motor Company

Asia-Pacific was the largest region in the hydrogen market in 2025. North America was the second-largest region in the global hydrogen market. The regions covered in the hydrogen market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the hydrogen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The hydrogen market consists of the sales of green hydrogen, blue hydrogen, brown hydrogen, yellow hydrogen, turquoise hydrogen, and pink hydrogen. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Hydrogen Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses hydrogen market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for hydrogen ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The hydrogen market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Mode Of Distribution: Pipeline; High-Pressure Tube Trailers; Cylinders
• 2) By Application: Chemical; Refinery; Metal Processing; Other Applications
• 3) By End User: Chemicals; Refining; Glass; Welding And Metal Fabrication; Other End Users
• Subsegments:
• 1) By Pipeline: Hydrogen Pipeline Networks For Large-Scale Distribution; On-Site Hydrogen Generation And Pipeline Delivery
• 2) By High-Pressure Tube Trailers: Compressed Hydrogen In Tube Trailers For Transport; Bulk Hydrogen Delivery Via Trailers
• 3) By Cylinders: Small-Scale Hydrogen Cylinders; Portable Hydrogen Storage For Industrial And Commercial Use
• Companies Mentioned: Shell plc; Chevron Corporation; BP p.l.c.; TotalEnergies SE; Equinor ASA; Exxon Mobil Corporation; Saudi Arabian Oil Company (Saudi Aramco); Linde plc; Air Liquide S.A.; Air Products and Chemicals, Inc.; Engie S.A.; Uniper SE; Plug Power Inc.; Bloom Energy Corporation; Hydrogenics Corporation; Nel ASA; Cummins Inc.; Ballard Power Systems Inc.; Siemens Energy AG; Mitsubishi Heavy Industries, Ltd.; Kawasaki Heavy Industries, Ltd.; Toyota Motor Corporation; Hyundai Motor Company
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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