세계의 상용 수소 시장 - 산업 규모, 점유율, 동향, 기회, 예측 : 생산 방법별, 배송 형태별, 용도별, 지역별, 경쟁별(2020-2030년)

Global Merchant Hydrogen Market was valued at USD 27.51 Billion in 2024 and is expected to reach USD 44.37 Billion by 2030 with a CAGR of 8.13% during the forecast period.

The global Merchant Hydrogen Market is witnessing robust growth as hydrogen emerges as a key enabler of the global energy transition. Merchant hydrogen refers to hydrogen produced and sold by suppliers to end users, rather than being produced on-site by consumers. The increasing demand across various sectors-such as petroleum refining, chemicals, metallurgy, transportation, and power generation-is driving the market forward. Traditionally dominated by applications in industrial processes like ammonia production and hydrocracking in oil refineries, the merchant hydrogen market is now expanding rapidly into clean energy and mobility sectors. Governments and private stakeholders around the world are investing in hydrogen as a clean fuel alternative to reduce carbon emissions, creating opportunities for both grey hydrogen (from natural gas) and low-carbon hydrogen sources such as blue (with carbon capture) and green (from renewable electrolysis).

Key Market Drivers

Industrial Decarbonization and Emission Reduction Initiatives

One of the most critical drivers of the merchant hydrogen market is the global push toward decarbonizing industrial operations. Sectors such as oil refining, chemicals, metallurgy, and fertilizers account for over 90 million metric tons of annual hydrogen consumption, with over 70% derived from fossil fuels. The refining sector alone uses approximately 40 million metric tons of hydrogen annually, primarily for hydrocracking and desulfurization processes. Similarly, ammonia production consumes nearly 33 million metric tons, while methanol synthesis accounts for another 12 million metric tons. As hydrogen production is responsible for nearly 1.8% of global CO2 emissions-translating to about 915 million metric tons-industries are facing increasing pressure to transition toward cleaner sources.

Governments are tightening regulations on industrial carbon emissions, with carbon pricing mechanisms now active in over 45 countries. Some jurisdictions are enforcing a carbon cost of up to $100 per ton, making grey hydrogen economically less attractive. Merchant hydrogen suppliers are capitalizing on this shift by offering low-carbon or renewable hydrogen to industries unable to build their own production infrastructure. Furthermore, nearly 60% of Fortune 500 industrial firms have adopted net-zero targets, reinforcing demand for externally sourced clean hydrogen.

This transition is especially vital for hard-to-electrify sectors such as cement, steel, and chemical manufacturing. With more than 150 industrial decarbonization projects globally in development or execution stages, demand for off-site hydrogen procurement continues to climb. As a result, merchant hydrogen producers are increasingly integrating carbon capture and electrolyzer technologies to serve this evolving industrial customer base.

Key Market Challenges

Cost Competitiveness & Production Economics

A major challenge for merchant hydrogen players is achieving cost parity with conventional fuels and internally generated hydrogen. While electrolyzer prices have dropped, green hydrogen production still averages USD4-6/kg, compared to grey hydrogen's USD1-2/kg. Additional processing, compression, storage, and transportation costs add another USD0.50-1.00/kg, making merchant-delivered green hydrogen twice as expensive as onsite grey alternatives. High upfront capital expenses are a barrier: electrolyzer projects typically require USD800-1,200 per installed kW. Moreover, renewable power contracts remain volatile and location-dependent, with electricity pricing ranging from USD20/MWh in sunny regions to USD80/MWh elsewhere, directly impacting green hydrogen economics. Merchant suppliers must also factor in capital recovery, operating margins, and working capital, often doubling break-even thresholds. As a result, attracting traditional industrial and transport buyers requires bridging a cost gap of USD2-4/kg, through subsidies or premium pricing tied to decarbonization goals. Without sustained cost declines or supportive policy, merchant-sourced hydrogen may struggle to compete with onsite grey production.

Key Market Trends

Digitalization and Automation of Hydrogen Supply Chains

Digital technologies are increasingly being integrated into the hydrogen value chain to enhance safety, efficiency, and traceability. Merchant hydrogen providers are investing in IoT-enabled sensors, digital twins, blockchain-based tracking systems, and cloud platforms to monitor hydrogen purity, flow rates, pressure levels, and emissions in real time. These solutions improve supply chain transparency and reduce losses during transport and storage. For example, predictive analytics powered by AI helps optimize delivery routes for hydrogen tankers, reducing fuel consumption and operational costs by 10-15%. Additionally, blockchain-based platforms are being piloted to track the carbon intensity of hydrogen across production, logistics, and end-use, enabling suppliers to offer certified green hydrogen with immutable proof-of-origin. Automation is also being introduced in refueling stations and pipeline pressure management systems to ensure consistent delivery performance. As merchant hydrogen buyers demand high-purity grades and verified sustainability, digitalization becomes essential for maintaining customer trust and regulatory compliance. These technologies not only improve performance but also enable suppliers to differentiate their offerings in an increasingly competitive market.

Key Market Players

• Air Liquide
• Linde plc
• Air Products & Chemicals, Inc.
• Messer Group GmbH
• Iwatani Corporation
• Showa Denko K.K.
• Taiyo Nippon Sanso Corporation
• Cummins Inc.
• Engie SA
• Uniper SE

Report Scope:

In this report, the Global Merchant Hydrogen Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Merchant Hydrogen Market, By Production Method:

• Steam Methane Reforming
• Coal Gasification
• Electrolysis
• Partial Oxidation of Oil
• Others

Merchant Hydrogen Market, By Distribution Mode:

• Pipeline
• Bulk
• On-site Production
• Hydrogen Tube Trailers

Merchant Hydrogen Market, By Application:

• Oil & Gas
• Chemical
• Power & Energy
• Automotive & Transportation
• Metals & Mining
• Others

Merchant Hydrogen Market, By Region:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
• South America
  • Brazil
  • Argentina
  • Colombia
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Merchant Hydrogen Market.

Available Customizations:

Global Merchant Hydrogen Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, and Trends

4. Voice of Customer

5. Global Merchant Hydrogen Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Production Method (Steam Methane Reforming, Coal Gasification, Electrolysis, Partial Oxidation of Oil, Others)
  • 5.2.2. By Distribution Mode (Pipeline, Bulk, On-site Production, Hydrogen Tube Trailers)
  • 5.2.3. By Application (Oil & Gas, Chemical, Power & Energy, Automotive & Transportation, Metals & Mining, Others)
  • 5.2.4. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)
• 5.3. By Company (2024)
• 5.4. Market Map

6. North America Merchant Hydrogen Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Production Method
  • 6.2.2. By Distribution Mode
  • 6.2.3. By Application
  • 6.2.4. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Merchant Hydrogen Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Production Method
      • 6.3.1.2.2. By Distribution Mode
      • 6.3.1.2.3. By Application
  • 6.3.2. Canada Merchant Hydrogen Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Production Method
      • 6.3.2.2.2. By Distribution Mode
      • 6.3.2.2.3. By Application
  • 6.3.3. Mexico Merchant Hydrogen Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Production Method
      • 6.3.3.2.2. By Distribution Mode
      • 6.3.3.2.3. By Application

7. Europe Merchant Hydrogen Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Production Method
  • 7.2.2. By Distribution Mode
  • 7.2.3. By Application
  • 7.2.4. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Merchant Hydrogen Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Production Method
      • 7.3.1.2.2. By Distribution Mode
      • 7.3.1.2.3. By Application
  • 7.3.2. France Merchant Hydrogen Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Production Method
      • 7.3.2.2.2. By Distribution Mode
      • 7.3.2.2.3. By Application
  • 7.3.3. United Kingdom Merchant Hydrogen Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Production Method
      • 7.3.3.2.2. By Distribution Mode
      • 7.3.3.2.3. By Application
  • 7.3.4. Italy Merchant Hydrogen Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Production Method
      • 7.3.4.2.2. By Distribution Mode
      • 7.3.4.2.3. By Application
  • 7.3.5. Spain Merchant Hydrogen Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Production Method
      • 7.3.5.2.2. By Distribution Mode
      • 7.3.5.2.3. By Application

8. Asia Pacific Merchant Hydrogen Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Production Method
  • 8.2.2. By Distribution Mode
  • 8.2.3. By Application
  • 8.2.4. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Merchant Hydrogen Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Production Method
      • 8.3.1.2.2. By Distribution Mode
      • 8.3.1.2.3. By Application
  • 8.3.2. India Merchant Hydrogen Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Production Method
      • 8.3.2.2.2. By Distribution Mode
      • 8.3.2.2.3. By Application
  • 8.3.3. Japan Merchant Hydrogen Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Production Method
      • 8.3.3.2.2. By Distribution Mode
      • 8.3.3.2.3. By Application
  • 8.3.4. South Korea Merchant Hydrogen Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Production Method
      • 8.3.4.2.2. By Distribution Mode
      • 8.3.4.2.3. By Application
  • 8.3.5. Australia Merchant Hydrogen Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Production Method
      • 8.3.5.2.2. By Distribution Mode
      • 8.3.5.2.3. By Application

9. Middle East & Africa Merchant Hydrogen Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Production Method
  • 9.2.2. By Distribution Mode
  • 9.2.3. By Application
  • 9.2.4. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Merchant Hydrogen Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Production Method
      • 9.3.1.2.2. By Distribution Mode
      • 9.3.1.2.3. By Application
  • 9.3.2. UAE Merchant Hydrogen Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Production Method
      • 9.3.2.2.2. By Distribution Mode
      • 9.3.2.2.3. By Application
  • 9.3.3. South Africa Merchant Hydrogen Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Production Method
      • 9.3.3.2.2. By Distribution Mode
      • 9.3.3.2.3. By Application

10. South America Merchant Hydrogen Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Production Method
  • 10.2.2. By Distribution Mode
  • 10.2.3. By Application
  • 10.2.4. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Merchant Hydrogen Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Production Method
      • 10.3.1.2.2. By Distribution Mode
      • 10.3.1.2.3. By Application
  • 10.3.2. Colombia Merchant Hydrogen Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Production Method
      • 10.3.2.2.2. By Distribution Mode
      • 10.3.2.2.3. By Application
  • 10.3.3. Argentina Merchant Hydrogen Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Production Method
      • 10.3.3.2.2. By Distribution Mode
      • 10.3.3.2.3. By Application

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends and Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Company Profiles

• 13.1. Air Liquide
  • 13.1.1. Business Overview
  • 13.1.2. Key Revenue and Financials
  • 13.1.3. Recent Developments
  • 13.1.4. Key Personnel
  • 13.1.5. Key Product/Services Offered
• 13.2. Linde plc
• 13.3. Air Products & Chemicals, Inc.
• 13.4. Messer Group GmbH
• 13.5. Iwatani Corporation
• 13.6. Showa Denko K.K.
• 13.7. Taiyo Nippon Sanso Corporation
• 13.8. Cummins Inc.
• 13.9. Engie SA
• 13.10. Uniper SE

14. Strategic Recommendations

15. About Us & Disclaimer