Global Hydrogen & Carbon Capture, Utilization and Sequestration Outlook & Forecast

The global hydrogen & CCUS market demonstrates robust revenue growth over the period. Starting at $29,000 million in 2020, it reached $44,000 million by 2025 and is projected to surpass $161,000 million by 2035. This strong CAGR underscores rapid scaling of both hydrogen and CCUS infrastructure globally, fuelled by governmental net-zero mandates, increasing corporate commitments, and advancements in project economics. The period between 2025 and 2030 is particularly dynamic, driven by flagship projects coming online and policy frameworks maturing in key regions. The revenue outlook indicates persistent upward momentum in market size as industry adoption amplifies across sectors.

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Power generation represents the largest application of hydrogen & CCUS in 2025, commanding 35% of the market share, with industrial applications at 28%, transportation at 15%, chemicals at 10%, oil & gas at 8%, and others at 4%. The power sector’s dominance reflects major decarbonization efforts, particularly in Europe and Asia, where utilities are rapidly integrating CCUS into existing and new generation assets. Industrial and transportation sectors are strong growth drivers, as emission mandates intensify and clean hydrogen-fueled mobility gains traction. The chemicals and oil & gas segments follow closely, leveraging hydrogen and CCUS technologies in process innovation and refinery upgrades.

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