The Canada Hydrogen market demand stood at 4500 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.9% during the forecast period until 2034.
Hydrogen primarily serves as a crucial feedstock for ammonia production, playing a pivotal role in sectors like fertilizers. Its role as an energy carrier, rather than a direct source, underscores its ability to store and convey substantial energy efficiently. Hydrogen's versatile applications encompass fuel cells, generating electricity, power, and heat. Currently utilized in petroleum refining and fertilizer production, hydrogen is gaining traction in expanding markets. Canada stands at the forefront of hydrogen and fuel cell technologies globally. It became the preferred location for the world's inaugural standardized facility for producing automotive fuel stacks. When utilized in a fuel cell, hydrogen, as a environmentally friendly fuel, produces water, electricity, and heat. When hydrogen is blended with natural gas, the resulting gas mixture can be used in many applications instead of pure natural gas, including for heat generation. The future holds immense potential for hydrogen and fuel cells, offering diverse applications in transportation, commercial, and industrial sectors.
The Canada Hydrogen market is mainly driven by its use as a feedstock to produce ammonia, which is further used in in the fertilizer sector. The primary utilization of hydrogen, both in Canada and on a global scale, is as a raw material in emission-intensive industrial sectors, including oil refining, ammonia production, methanol production, and steel production. Currently, a significant portion of this hydrogen feedstock is generated through steam methane reforming of natural gas, a process that does not involve capturing and storing the carbon emitted. However, the global push towards reducing carbon emissions and transitioning to cleaner energy sources has prompted Canada to explore hydrogen as a versatile and low-carbon fuel. Hydrogen can be used as a fuel for power production through either hydrogen combustion in turbines or use in stationary fuel cell power plants. As a fuel, hydrogen is a cleaner-burning molecule that can be used instead of fossil fuels where high-grade heat is needed both for industrial processes The country's strong emphasis on developing a hydrogen-based economy is evident in various government initiatives and investments aimed at research, development, and infrastructure for hydrogen technologies. Canada's commitment to achieving its climate goals, including a net-zero emissions target by 2050, further drives the exploration and adoption of hydrogen in energy transition. The Canadian hydrogen market also benefits from its vast natural resources, such as natural gas and biomass, offering diverse pathways for hydrogen production. Moreover, the recognition of hydrogen's potential applications in industries like transportation, and energy storage positions it as a strategic driver for economic growth. Hence, Canada Hydrogen market is likely to reach roughly 6850 thousand tonnes in the year 2034.
Based on the end-user industry, the Canada Hydrogen market is segmented into Ammonia, Refining, Methanol, Fuel, and Others. The largest market share of Hydrogen goes with high proportion in Ammonia about 45% in the year 2023.
Significant players in the Canada Hydrogen market are Air Products, Linde plc, Praxair, and Air Liquide. Other players in the global Hydrogen market are Sinopec, Flint Hills Resources Lp, Bp West Coast Products Llc, Valero, Phillips 66 Company, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of Canada Hydrogen which covers production, demand and supply of Hydrogen market in Canada.
• To analyse and forecast the market size of Canada Hydrogen
• To classify and forecast Canada Hydrogen market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Hydrogen market in Canada.
To extract data for Canada Hydrogen market, primary research surveys were conducted with Hydrogen manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Canada Hydrogen market over the coming years.
ChemAnalyst calculated Hydrogen demand across the Canada region by analysing the volume of Hydrogen consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hydrogen manufacturers and other stakeholders
• Organizations, forums and alliances related to Hydrogen distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hydrogen manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Canada Hydrogen market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
4500 thousand tonnes
Market size Volume by 2034
6850 thousand tonnes
Growth Rate
CAGR of 3.9% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Ammonia, Refining, Methanol, Fuel, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
British Columbia, Alberta, Saskatchewan and Manitoba, Quebec, Ontario, and Rest of Canada
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the size of Canada Hydrogen market in terms of volume in 2023?
Ans:
The size of Canada Hydrogen market has grown significantly in the historic period and reached approximately 4500 thousand tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Hydrogen?
Ans:
Ammonia industry is the leading consumer of Hydrogen.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database) Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.