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Global hydrogen demand in 2019 is 91,908 MMSCFD, and it is projected to grow at CAGR of 2.45% from 2019-2025. In 2019, the majority of hydrogen demand came from the refinery and fertilizer sectors, accounting for 74% of the total demand.
The Asia-Pacific region has the most significant market share for hydrogen demand, accounting for 43% (39,515 MMSCFD) in 2019, followed by North America and Europe. Demand in Asia-Pacific region is projected to grow at 3.9% CAGR (2019-2025). In the Asia-Pacific region, the most prominent demand centers for hydrogen are India and China. In 2019, India’s and China’s share for hydrogen demand was 20% and 54%, respectively. It is projected to increase 27% and 70%, respectively, by 2025.
Asia-Pacific Hydrogen Demand Through (2019-2025)
This is an excerpt from Stratas Advisors’ Global Hydrogen Outlook service. The service provides an integrated, forward assessment of the hydrogen market from refining and non-refining perspectives across the entire value chain for all regions.