According to UnivDatos analysis, rising demand for clean energy, government incentives and funding for hydrogen production, and technological advancements are the major factors driving the global growth of the merchant hydrogen market. As per their “Merchant Hydrogen Market” report, the global market was valued at USD ~95,482.2 million in 2024, growing at a CAGR of about 7.5% during the forecast period from 2025 - 2033 to reach USD million by 2033.  

Merchant hydrogen is hydrogen generated at central facilities and provided to external customers. It is usually delivered in gaseous or liquid form via pipelines, tube trailers, or cryogenic tankers for use by industries such as refining, chemicals, steelmaking, electronics, energy storage, and transportation. Merchant hydrogen can be manufactured through steam methane reforming, water electrolysis, or other mature processes and may be classified as grey, blue, or green based on its carbon footprint. It is in high demand due to the adoption of clean energy and global decarbonization efforts.

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Shift from Grey Hydrogen to low-carbon Blue and Green Hydrogen: The Latest Trend in the Merchant Hydrogen Market

One of the major trends in the merchant hydrogen market is the transition from grey hydrogen produced from fossil fuels without the removal of carbon to low-carbon blue and green hydrogen. Blue hydrogen utilizes carbon capture, utilization, and storage (CCUS) technologies to dramatically lower emissions, and green hydrogen is created through renewable-powered electrolysis with zero carbon emissions used during the process. This shift is fueled by global decarbonization goals, tighter emission standards, and increasing corporate sustainability commitments. Governments and industries are pouring assets into the integration of renewable energy, CCUS infrastructure, and large-scale electrolyzer deployment, making blue and green hydrogen key solutions towards a cleaner energy future.

Growing Investments in Hydrogen are driving the Growth of the Merchant Hydrogen Market

The merchant hydrogen market is growing, as governments, private organizations, and international investors are investing in the production, infrastructure, and technology development of hydrogen. Large-scale green and blue hydrogen projects, hydrogen refuelling networks, and storage facilities are driving market preparedness and adoption across the board. Public investment through subsidies, tax credits, and grants is lowering cost barriers, while private-sector investment is innovating on production techniques such as electrolysis and carbon capture. These capital inflows are helping expand capacity, enhance supply chain efficiency, and facilitate the commercialization of hydrogen, which will in turn increase its role in the clean energy transition worldwide.

For instance, in July 2024, Messer, in collaboration with the District of Düren under the joint venture HyDN GmbH, announced the construction of a 10 MW green hydrogen plant at Brainergy Park Jülich. Backed by nearly €15 million in federal funding, the project is planned to begin operations in fall 2025 to supply clean hydrogen for local fuel-cell buses, supporting Germany’s transition to sustainable mobility.

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Key Growth Drivers Shaping the Future of the Merchant Hydrogen Market

The merchant hydrogen market is being influenced by factors such as increasing demand for clean and sustainable energy worldwide, backed by net-zero emission targets and decarbonization efforts, which are the main growth factors for the market. Growing applications in refining, chemicals, steelmaking, mobility, and energy storage are further increasing demand. Moreover, the growth in private and public investments and the emergence of large-scale hydrogen infrastructure are putting merchant hydrogen firmly at the center of the energy transition worldwide.

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