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Global low-carbon hydrogen market expected to reach US$130B by 2033, finds IDTechEx research

by | Sep 15, 2023

IDTechEx are a global market intelligence firm offering independent technical and commercial analysis of a wide range of technology innovations, providing a clear appraisal of complex sectors. As part of their wider energy, decarbonization, and mobility research portfolio, IDTechEx have recently released the comprehensive market report “Hydrogen Economy 2023-2033: Production, Storage, Distribution & Applications”.

In this report, IDTechEx projects that the low-carbon hydrogen market will grow substantially over the next decade, reaching US$130 billion by 2033 based on projected production capacities. Yet, the upstream is only one part of the value chain that needs to be developed. While most acknowledge the need for substantial production infrastructure, many underestimate the need for a vast midstream (storage & distribution) infrastructure to connect the upstream and downstream assets.

The report assesses the global opportunities emerging across the entire hydrogen value chain, including low-carbon hydrogen production, storage, distribution, fuel cells and hydrogen end-use sectors. It includes technological analyses of all relevant technologies, techno-economic comparisons, details on key commercial activities (including projects as well as established and emerging companies), major innovations, and major market trends across all value chain components.

Also included are granular 10-year forecasts for hydrogen demand by applications in Mtpa (7 sectors), hydrogen production capacity by source in Mtpa (grey, blue, and green), and the hydrogen market in US$B (grey, blue, and green).

IDTechEx Technology Analyst Chingis Idrissov, author of the above report, will be presenting his research as part of his conference presentation, ‘Blue Hydrogen Production: Markets, Technologies, Challenges & Opportunities’, at 9.30 am on Thursday 28th September.

This report is also available as part of an IDTechEx Market Intelligence Subscription, alongside further research on blue and green hydrogen, fuel cell materials and technologies, fuel vehicles, CCUS, carbon dioxide removal and utilization, and much more. For more information on IDTechEx research offerings, please visit booth 5A120, contact, or visit

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