Blue hydrogen refers to hydrogen produced from natural gas with the integration of carbon capture and storage (CCS) to significantly reduce carbon dioxide emissions. It is recognized as a low-carbon alternative to conventional hydrogen production methods, supporting industrial decarbonization and clean energy transition. The primary aim of blue hydrogen is to enable large-scale hydrogen production while minimizing carbon emissions and promoting sustainable energy use across industries.
The global blue hydrogen market reached a value of nearly $2,051.92 million in 2024, having grown at a compound annual growth rate (CAGR) of 4.70% since 2019. The market is expected to grow from $2,051.92 million in 2024 to $33,542.02 million in 2029 at a rate of 74.86%. The market is then expected to grow at a CAGR of 17.72% from 2029 and reach $75,814.37 million in 2034.
Establishment Of Hydrogen Certification And Carbon-Intensity Standard
Establishment of hydrogen certification and carbon-intensity standard contributed to the growth of the blue hydrogen market in the historic period. The establishment of hydrogen certification and carbon-intensity standards enhanced market transparency and investor confidence. These frameworks ensured that blue hydrogen production met defined emission thresholds, enabling fair differentiation from grey hydrogen and boosting adoption in international trade and energy transition initiatives. For instance, in December 2023, TUV SUD, a Germany-based testing, certification, and inspection company, launched the CMS 77 standard to certify low-carbon and blue hydrogen, including ammonia, with a GHG reduction threshold of at least 70% (max 28.2 gCO2eq/MJ_LHV). It requires carbon capture and storage (CCS) for blue hydrogen and aligns with ISO standards for carbon footprint reporting. The standard provides a global framework for transparent and credible certification of sustainable hydrogen production. Therefore, the establishment of hydrogen certification and carbon-intensity standard drove the growth of the blue hydrogen market.
Advancing The Energy Transition Through Blue Hydrogen Investments
Companies operating in the blue hydrogen market are increasingly prioritizing strategic investments to scale production, enhance infrastructure, and meet growing demand for low-carbon energy solutions. These efforts aim to position blue hydrogen as a key component of the global energy transition. For example, in August 2025, HydrogenXT, a US-based company that designs and deploys zero-carbon fuel-grade blue hydrogen systems, secured $900 million in financing to construct 10 decentralized blue hydrogen production and dispensing facilities along the U.S. West Coast. These facilities are designed to supply zero-carbon hydrogen for heavy-duty transport, industrial power, and data centers, supporting the broader transition to a low-carbon economy.
The global blue hydrogen market is fairly fragmented, with a large number of small players operating in the market. The top 10 competitors in the market made up 23.87% of the total market in 2024.
Blue Hydrogen Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global blue hydrogen market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for blue hydrogen? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The blue 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; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider blue hydrogen market; and compares it with other markets.
The report covers the following chapters
- Introduction And Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by technology, by transportation mode and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size And Growth- Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by technology, by transportation mode and by end user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size And Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for blue hydrogen providers in terms of product/service offerings geographic expansion, marketing strategies and target groups
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Technology: Steam Methane Reforming (SMR); Gas Partial Oxidation (POX); Auto Thermal Reforming (ATR)
- 2) By Transportation Mode: Pipeline; Cryogenic Liquid Tankers
- 3) By End User: Petroleum Refineries; Chemical Industry; Power Generation Facilities; Other End Users
- Companies Mentioned: Exxon Mobil Corporation; Saudi Arabian Oil Company (Saudi Aramco); Royal Dutch Shell PLC; BP Plc; TotalEnergies SE
- Countries: Australia; China; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
- Regions: Asia-Pacific; 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; blue hydrogen indicators comparison.
- 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."