We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 


Hydrogen landscape 2020

Download the report brochure

Despite the buzz, demand for hydrogen globally has only grown one-third in a decade. The global chemicals market has been the dominant driver, and, due to tightening environmental policies, increased demand for low sulphur, and higher grade petroleum products. Moreover, if demand for low-carbon hydrogen grows, the market will see an upsurge in growth. But we have not seen that explosion yet.

In a new report, Wood Mackenzie provides a detailed overview of the global hydrogen market. 

Complete the form on this page to download the report brochure which includes:

  • Table of contents
  • List of figures
  • Information on how to access the report

Subscribers to Wood Mackenzie's Energy Transition Service can access the report here.

Key findings from the report include:

  • Over the past decade, global demand for hydrogen has only grown by 28%, peaking in 2020 at 111.7 million metric tons or 320Mtoe. Despite the buzz, that is small compared to many other new technologies.
  • The top 10 countries account for 70% of global hydrogen demand. China and the United States each account for 21% and 19% of demand, respectively. Refining and ammonia dominate two-thirds of all demand uses. Despite the continued discussion on mobility, it is a miniscule share of the market.
  • While a few countries and sectors constitute the majority of 2020 global demand, 85 countries require hydrogen. However, individually, 61 countries make up less than 1% of global demand. This shows the potential to make in-roads in many markets at low stage usage.
  • Global production of hydrogen is almost exclusively produced by hydrocarbons. Grey, brown and black hydrogen make up a combined 99.6% of global production. So, although there is a tremendous amount of hype regarding green hydrogen, it barely registers across the full value chain for hydrogen’s uses.

This is the first in a series of reports examining the full hydrogen production and demand value chain. In our next two reports, we will focus on costs across all hydrogen production methods and forecasts, then a full outlook across all end-use cases to 2040 with competitive analysis for each sector.

Return to the Hydrogen Guide.