BLUE HYDROGEN MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Key Developments

• In August 2022, the Russian government announced a plan to develop blue hydrogen production within the country, with an investment of around USD 127 million allocated to advancing technologies for the production, transportation, and storage of blue hydrogen. In North America, the market is primarily driven by the plentiful supply of natural gas, which serves as the key feedstock for blue hydrogen production. Chevron Corporation and Exxon Mobil Corporation are the leading suppliers of natural gas in this region.
• In March 2022, Air Products Inc. revealed plans to build and operate a new liquid hydrogen production facility in Arizona, U.S. This plant will be a zero-carbon facility, with operations expected to begin in 2023.
• In January 2022, Linde plc entered into an agreement with Yara to design and supply a 24 MW hydrogen plant. Yara is a leading global chemical company specializing in the production and distribution of nitrogen-based mineral fertilizers and related industrial products.