Q4 2024 saw 915ktpa of new announced capacity across 21 projects. However, the capacity outlook is still demonstrating a slightly negative trend due to project stalls and cancellations, highlighting both the challenges and opportunities of the current low-carbon hydrogen market
In Q4 2024, new project announcements totalled approximately 900ktpa of added capacity across 21 projects. This represented an increase from the previous quarter, where 690ktpa of capacity was announced across 12 projects. However, announcements from Q4 2024 still underwent a deceleration from the rate of announcements seen in the first half of 2024. Q2 2024 remains the best performing quarter in terms of capacity additions, with 2.2mtpa of capacity being announced across 14 projects
In Q4 2024, new project announcements totalled approximately 900ktpa of added capacity across 21 projects. This represented an increase from the previous quarter, where 690ktpa of capacity was announced across 12 projects. However, announcements from Q4 2024 still underwent a deceleration from the rate of announcements seen in the first half of 2024. Q2 2024 remains the best performing quarter in terms of capacity additions, with 2.2mtpa of capacity being announced across 14 projects
Key Highlights
- To date, the total active and pipeline capacity of low-carbon hydrogen reaches approximately 175mtpa, of which approximately 90% and 10% is from green and blue plants, respectively.
- Cumulative hydrogen production capacity continues to be dominated by early-stage projects, with just under 1.9mtpa of capacity having reached completion by the end of Q4 2024.
- In Q4 2024, new project announcements totalled approximately 900ktpa of added capacity across 21 projects. This represented an increase from the previous quarter, where 690ktpa of capacity was announced across 12 projects.
- There was a small decrease in deal activity in terms of total deal volume between Q3 2024 and Q4 2024, with deals decreasing from 37 to 32 across the two quarters.
Scope
- Global hydrogen outlook and trends. Breakdown of hydrogen capacity by stage of development, top capacities per country, top companies with hydrogen capacity, location and scale of largest upcoming low-carbon hydrogen projects and key players, outlook of hydrogen deal trends and global map of implemented and upcoming hydrogen policies, strategies and roadmaps.
Reasons to Buy
- Identify the market trends within the region and key players in hydrogen technologies.
- Develop market insight of current, in development and announced capacity and latest trends of the sector.
- Understand the region's different scenarios for 2030 based on the likeliness of the projects.
- Understand how and where the market is growing as it is rapidly scales to become a key technology for the global energy transition
Table of Contents
- Overview
- Quarterly snapshot
- Low-Carbon Hydrogen Capacity Outlook
- Active and upcoming capacity
- Breakdown of capacity by project scale
- Major upcoming projects
- Project announcements from Q4 2024
- Map of top 10 upcoming projects
- Hydrogen capacity scenarios to 2030
- Leading countries by capacity
- Top participant companies
- Deal Activity
- Quarterly deal trends
- Deal geography
- M&A
- Capital raisings
- Key Policy Developments
- Hydrogen policy map
- Recent policy developments
- Major upcoming low-carbon hydrogen projects
- Largest project announcements in Q4 2024
- M&A activity in Q4 2024
- Capital raising activity in Q4 2024
- Recent key policy developments
- Quarterly snapshot
- Active and announced capacity
- Regional breakdown of upcoming capacity
- Project count by capacity band based on active and announced projects
- Breakdown of total active and upcoming hydrogen capacity by project scale
- Top 10 upcoming low-carbon hydrogen plants map
- Capacity scenarios to 2030
- Countries with the highest cumulative upcoming capacity
- Companies net capacity share
- Hydrogen deal trends
- Distribution of hydrogen deal volume by country in Q4 2024
- Distribution of deals related to hydrogen in Q4 2024 based on deal value
- National hydrogen strategies, plans, and roadmaps
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 1s1 Energy Inc
- ACME Cleantech Solutions Pvt Ltd
- Adani Enterprises Ltd
- Advanced Ionics INC
- Air Liquide SA
- Amp Australia Pty Ltd
- Asahi Kasei Corp
- Asiri LLC
- Axon Partners Group SL
- Ayana Renewable Power Pvt Ltd
- BASF SE
- BP Plc
- British International Investment Plc
- Carnegie Fonder AB
- City Light Capital
- Clyde Hydrogen Systems Ltd
- Copenhagen Infrastructure Partners KS
- CWP Global
- Deutsche Offshore-Testfeld und Infrastruktur GmbH & Co KG
- Eastern Gases Ltd
- Egyptian Electricity Transmission Co
- Faber Ventures
- Fortescue Future Industries Pty Ltd
- Fraylog Terminal Logistica
- Gaz-System SA
- GEP Global
- Gibson Lane GmBH
- GIC Private Ltd
- Green Hydrogen International Corp
- GreenGo Energy Group A/S
- Grupo ASV
- H2U Technologies
- HD Renewable Energy Co Ltd
- Hexagon Composites ASA
- Hexagon Purus AS
- HyCap Fund I SCSp
- Hyundai Motor Co
- Inpex Corp
- Intercontinentaal Energy Corp
- Intercontinental Energy Corp
- Invest Sabah Berhad
- Ionomr Innovations Inc
- Jearrard Energy Resources Ltd
- LBS Bina Group Berhad
- LetterOne Holdings SA
- Liquid Wind AB
- Loop Energy Inc
- Lummus Technology LLC
- Macquarie Group Ltd
- Matteco Team SL
- Midwest Green Sdn Bhd
- Mirning Green Energy Ltd
- Mitsui & Co Ltd
- Modern Hydrogen Inc.
- Napali
- Neckarpri GmbH
- Net Zero Technology Centre Ltd
- New and Renewable Energy Authority
- NextSTEP SRL
- Nikola Corp
- Norfund
- Norges Bank
- Oil and Natural Gas Corp Ltd
- Parex Resorces Inc
- Plug Power Inc
- PNE AG
- Pondera Consult BV
- Powercell Sweden AB
- Primary Hydrogen Corp
- Prime Capital AG
- Provaris Energy Ltd
- Robert Bosch GmbH
- Royal HaskoningDHV
- RP Global Austria GmbH
- Rumbo Ventures
- Ruth Asset Management
- Samsung Venture Investment Corp
- SEFE Securing Energy for Europe GmbH
- Shell plc
- Teralta Hydrogen Solutions Inc
- The Carlyle Group Inc.
- The First Element
- Top End Energy Ltd
- TotalEnergies SE
- Tupras Ventures
- Uniper SE
- University of Glasgow
- Ventus Energia Srl
- ZEN Energy Retail Pty Ltd
- Zinc
- Zubi Capital
- Zweckverband Oberschwabische Elektrizitatswerke
