Hydrogen Market Trends Report: India drives Q1 activity as the EU awaits additional support

In the first quarter of 2024, India led activity with a surge in green hydrogen projects, comprising 58% of the total capacity announced globally, backed by government support and tender results. However, the overall capacity announced was three times less than in the previous quarter, indicating a cooling market transitioning from announcements to realization. Despite minor advancements globally, projects await auctions and incentives, anticipating the outcome of the European Hydrogen Bank auction in the second quarter of 2024.

Our whitepaper includes the highlights of the hydrogen market in the first quarter of 2024 and deep dives into market developments, policies, the supplier landscape and the latest technological developments.