Hydrogen Transition Outlook and Trends Q1 2025

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

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