Northern America's Promising Hydrogen Market Growth
Key Ideas
- Northern American hydrogen market projects +1.7% CAGR in volume and +1.8% CAGR in value by 2035.
- Hydrogen consumption peaked at 3.3B cubic meters in 2024 with the United States leading at 89%.
- Production of hydrogen in Northern America increased by 6.3% in 2024, with the U.S. being the largest producer.
- Hydrogen imports in 2024 decreased by -10.3%, with the United States accounting for 73% of total imports.
The Northern American hydrogen market is set to experience a positive growth trajectory driven by increasing demand. The market is projected to see a +1.7% CAGR in volume and +1.8% CAGR in value from 2024 to 2035, reaching 4B cubic meters and $1.2B respectively by 2035. Hydrogen consumption in the region remained stable at 3.3B cubic meters in 2024, led by the United States at 89% of total volume. Production of hydrogen also saw growth, increasing by 6.3% in 2024, with the U.S. accounting for 82% of the total volume. Additionally, imports of hydrogen decreased by -10.3% in 2024, with the United States constituting 73% of total imports.