The global total of active and pipeline capacity of low-carbon hydrogen projects now exceeds 200 million metric tons per annum (mtpa)
The were significant developments for the global hydrogen market in the fourth quarter of 2023, with Germany leading in new low-carbon hydrogen plant announcements, according to GlobalData.
The global total of active and pipeline capacity of low-carbon hydrogen projects has now reached 201 million metric tons per annum (mtpa). By 2030, the capacity is expected to reach 130 mtpa in a high-case scenario and 81 mtpa in a low-case scenario.
Despite a slowdown in project announcements compared to the first and second quarters of 2023, the fourth quarter witnessed the announcement of four new projects.
Canada continues to lead in terms of capacity with over 90 mtpa across 70 different hydrogen hubs. However, the hydrogen deal count and value in the fourth quarter of 2023 were lower than previous quarters, reflecting a challenging macroeconomic environment. Despite these challenges, the hydrogen market continues to grow, with increasing attention on this technology as a key player in the energy transition.
