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Hydrogen industry's economic outlook in the EU 2030

The European Union's hydrogen industry could reach a market size of 65 billion euros by 2030 should all member states adopt ambitious policies adhering to the Paris Climate Agreement. Today, refineries still account for the largest hydrogen usage shares in the EU. Hydrogen, which is the most common element found in the known universe, is promoted as a key component for reaching emission-reduction targets. It has a potentially wide array of uses from being a power source, transportation fuel, and a means of storing excess energy such as from variable renewables sources.

Forecast key economic indicators of the hydrogen industry in the European Union in 2030*

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Source

Release date

February 2019

Region

EU

Survey time period

2019

Supplementary notes

* Underlying assumption is "ambitious scenario" whereby hydrogen will be fully utilized to stave off a global temperature increase of more than two degrees Celsius, with all EU member states adhering to Paris Climate Agreement.

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