Global Hydrogen Review 2025

Production highlights

Highlights

  • Hydrogen production reached almost 100 Mt in 2024, but less than 1% was based on low-emissions hydrogen technologies. Based on announced projects, low-emissions hydrogen could reach 37 Mtpa by 2030, a reduction from the 49 Mtpa estimated in the Global Hydrogen Review 2024 (GHR-24).
  • More projects are reaching final investment decision (FID), although the total production capacity reaching this stage in 2024 remained at the same level as in 2023. Persisting technical and regulatory barriers, financial obstacles and challenges in securing reliable offtake, in particular, continue to delay and occasionally completely stall project progress.
  • Despite announced delays and cancellations, low-emissions hydrogen production is expected to increase significantly by 2030. Based only on projects that are operational, have already reached FID or are under construction, low-emissions hydrogen production can reach more than 4 Mtpa by 2030.
  • For the first time, this report systematically assesses the likelihood of announced projects going ahead by 2030. This analysis suggests that 10 Mt of low-emissions hydrogen production is almost certain or has strong potential to be operational by 2030, if the right policy efforts to stimulate demand in traditional applications and emerging sectors are implemented. However, another 19 Mt is from projects that have low potential or are uncertain to be operational by 2030 considering the short time remaining for those projects to materialise.
  • Low-emissions hydrogen production will remain more costly than unabated fossil-based production in the near term, with cost projections for electrolysers being less optimistic than in previous years due to the limited deployment achieved to date. However, this cost gap is still expected to narrow by 2030, with China reaching cost competitiveness thanks to low technology costs and a low cost of capital, and other regions reducing the cost gap significantly due to the combination of high cost of imported natural gas, good renewable resources and policy action in the form of CO2 prices (e.g. Europe, Latin America) .
  • China leads on electrolyser manufacturing, deployment and cost-competitiveness. This has raised concerns about a repetition of the story of the solar PV or battery sectors, for which China now holds the large majority of the supply chain, having overtaken other regions that were first movers years ago. However, using Chinese-manufactured electrolysers outside of China is expected to lead to only very modest cost savings. 
Next Production prospects to 2030