Asia-Pacific Hydrogen Market Forecast for 2035
Key Ideas
  • The Asia-Pacific hydrogen market is expected to experience a CAGR of +0.9% in volume and +1.3% in value from 2024 to 2035.
  • China dominates both consumption and production of hydrogen in the region, with a significant share compared to other countries like Thailand and Malaysia.
  • Singapore leads in per capita hydrogen consumption in Asia-Pacific, showcasing a notable annual growth rate.
  • Despite fluctuations, the overall trend in hydrogen market performance in the region is positive, indicating steady growth over the next decade.
IndexBox's recent report on the Asia-Pacific hydrogen market highlights a positive outlook for the industry in the coming years. With an increasing demand for hydrogen in the region, market consumption is expected to rise steadily with a projected CAGR of +0.9% in volume and +1.3% in value from 2024 to 2035. In 2024, Asia-Pacific's hydrogen consumption reached 5.7B cubic meters, with China leading the market with 86% of the total volume. The production of hydrogen in the region mirrored the consumption trends, with China also dominating production figures. Singapore stood out for its high per capita consumption of hydrogen, indicating a growing trend in the country. Despite minor fluctuations in market performance, the overall forecast suggests a positive trajectory for the Asia-Pacific hydrogen market, with steady growth anticipated over the next decade.
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