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Global Hydrogen Review 2025 Trade and infrastructure
…Highlights Trade is a major driver of project announcements. Nearly 45% of low-emissions hydrogen from announced production projects is intended for export, exceeding 16 Mtpa H₂-eq by 2030 if all materialise. Yet export-oriented projects are less likely to reach the investment stage, with only 5% having done so. These projects tend to be large scale, lacking off-takers. More than half are in emerging and developing economies, where affordable capital and export infrastructure may be limited.Some governments are supporting the large-scale offtake of low-emissions hydrogen by providing funds for long-term premiums through competitive auctions. However…
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Northwest European Hydrogen Monitor 2025 Executive summary
…importance of developing its hydrogen market so that it is closely integrated with neighbouring markets.Altogether, Northwest European countries have ambition to develop as much as 30 to 35 GW of electrolyser capacity by 2030. However, recent market developments, inflation and cost increases could drive countries to further adjust their targets and/or delay the implementation of low-emissions hydrogen projects. Greater policy attention is required on demand creation Hydrogen demand in Northwest European currently stands at around 3 million tonnes (Mt) per year, making up 3% of total global demand. Unabated natural gas is the primary source of hydrogen supply in Northwest…
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Global Hydrogen Review 2026 Production
…China leads electrolysis manufacturing thanks to low costs and experience with large projects, but some signs of consolidation are also arising there, due to unsustainable domestic competition driven by excess capacity and offers below manufacturing costs. As a response, many manufacturers are looking to expand markets outside of China.In the near term, fossil-based production will remain less costly than renewable hydrogen in most parts of the world. Fossil price volatility can significantly reduce the cost gap during some periods, but this will not be enough to unlock FIDs and support policies will remain necessary for the near future.
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Global Hydrogen Review 2025 Five key questions about hydrogen
…than 2 Mtpa – merely 5% of the potential production that announced projects could achieve by 2030. Demand uncertainty could jeopardise the entire low-emissions hydrogen sector, as producers need reliable off-takers to justify large-scale investments.The primary barrier to scale-up is the significant cost gap between low-emissions hydrogen and conventional fossil-based alternatives, in both traditional applications like refining, and emerging applications such as steel, shipping and aviation. However, strategic policy interventions could unlock substantial demand in the near term. Key opportunities include focusing on existing hydrogen uses where technology barriers are lower, leveraging public procurement power…
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Unlocking Ukraine’s Hydrogen Opportunity: A Roadmap Policy recommendations for the coming 2-3 years
…lower electricity costs, which are the dominant driver for hydrogen production costs. Undertake the preparatory analyses that will form the basis for later deployment Such studies require relatively little investment when compared to large-scale projects, but they are essential to inform the work done in later years. They can support progress without requiring large commitments and provide a window onto market development. Preparatory studies can reduce uncertainties by including a material assessment of the gas transmission network, improving project cost estimates and providing visibility on the policy instruments that could be used to promote hydrogen deployment. Analysis could include…
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Global Hydrogen Review 2025 Southeast Asia
…demand is from international shipping in Singapore, which is pursuing a multi-fuel strategy, performing trials and defining technical standards for ammonia and methanol bunkering. In aviation, demand is concentrated in a few airports, so supplying these with synthetic fuel could make large strides towards decarbonisation.Near-term actions include prioritising renewables deployment, which could have positive consequences for the hydrogen sector, such as a lower cost of capital, industry experience and standardised processes. Pilot projects that enable gradual learning for large projects can be useful, as can leveraging existing hydrogen applications to create economies of scale and anchor demand.
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Global Hydrogen Review 2025 Production prospects to 2030
…networks and hydrogen pipelines. A further 7 Mtpa has moderate potential but will require intensified policy efforts to secure offtake in emerging sectors (such as steelmaking, maritime shipping and aviation), and to provide concessional finance to projects under development in emerging markets and developing economies (EMDEs), where regulatory frameworks remain nascent and access to capital is particularly challenging. However, more than half of the potential production in the pipeline has low potential or is uncertain to be operative by 2030. Almost half of these projects are very large electrolysis developments in EMDEs that may have access to low-cost renewable electricity…
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Unlocking Ukraine’s Hydrogen Opportunity: A Roadmap The hydrogen opportunity
…electrification would therefore provide most potential job opportunities.Producing 2.5 Mtpa of hydrogen requires an investment of USD 85-90 billion for renewables and electrolysis. This is equivalent to 50% of the national gross domestic product in 2024 and 45-65% higher than the investment needed to reconstruct the entire energy system after the war. If this investment is funded with a cost of capital of 15%, interest payments could reach USD 165-175 billion (in nominal terms) over the entire lifetime of the assets. Introduction This chapter is forward-looking, highlighting the potential barriers and opportunities for the development of renewable hydrogen…
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Global Hydrogen Review 2026 Key questions about hydrogen
…Hydrogen can also improve the resilience of the system by providing additional assets that could be used to satisfy energy demand during supply disruptions.Hydrogen can be used in multiple applications, which allows governments to adapt its use to their national contexts. In addition, the multiple conversion steps in the hydrogen supply chain mean there is additional flexibility in the degree of domestic production for each of these steps. Nevertheless, the use of hydrogen to enhance energy security also introduces a trade-off with cost, since low-emissions hydrogen is more expensive than production from unabated fossil fuels in most…
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Global battery markets are growing strongly – and so are the supply risks
…seen in 2020.At the same time, regional price disparities have widened. In 2025, battery pack prices in China were 30% lower than in the United States, and 35% lower than in Europe. Record low lithium iron phosphate (LFP) battery prices also contributed significantly to overall cost reductions in 2025. LFP battery prices fell by more than 15%, compared with less than 5% for lithium nickel cobalt manganese oxide (NMC) batteries – the second most deployed battery chemistry globally. This made LFP batteries on average more than 40% cheaper than NMC alternatives. As a result, LFP accounted for over half of EV…