#hydrogen technology testing

The global hydrogen technology testing, inspection, and certification (TIC) market is valued at USD 4.1 billion in 2024 and is projected to reach USD 9.2 billion by 2029; it is expected to register a CAGR of 17.8% during the forecast period. 

The increase in demand for cleaner fuels and the presence of favourable government polices with respect to decarbonising several sectors, increase in development of hydrogen infrastructure like refueling stations, pipelines and storage facilities, increasing inherent risks and strict regulations in hydrogen processes and progression of technologies that would be instrumental in the advancement of green hydrogen are some of the factors that catalyse the growth of hydrogen technology TIC market constantly.

Download PDF Guide:

By Generation, Gray hydrogen is anticipated to maintain its position as the largest segment by generation type throughout the forecast period.This report segments the hydrogen market based on sector into three subsegments: generation type for storing and transporting. The generation type segment is further sub-divided in the gray, blue and green hydrogen. The segments for hydrogen consumption are based on the type of hydrogen produced, namely brown, gray, green, and blue hydrogen. Pricing natural gas is comparatively cheaper or low-cost and this is a main reason why grey hydrogen is produced. Natural gas is a hydrocarbon resource that exists in large quantities across the globe and when the price is low, it can be an economically viable hydrogen feed. In terms of application, mobility is projected to experience the most rapid growth throughout the forecast period.This report categorizes the hydrogen market by application into four segments: energy, mobility, chemical & refinery, and others. The "others" segment includes applications in industries such as aerospace and defense. Mobility is anticipated to show the highest growth rate during the forecast period. Increased investments in fuel cells are expected to propel the hydrogen market forward. Governments and organizations worldwide are offering support, incentives, and funding to foster the development, deployment, and commercialization of hydrogen fuel cells, aligning with efforts to promote clean energy and combat climate change. During the forecast period Asia Pacific is projected to record highest growth rate of the overall hydrogen technology TIC market.The Asia-Pacific’s hydrogen TIC market is the largest in the world, driven by rapid industrialization particularly in sectors such as chemicals, manufacturing and energy. The region’s strict regulatory landscape focusing on safety, environmental protection and quality standards boosts the demand for TIC services. Also, there are sizeable investments in hydrogen infrastructure inclusive of manufacturing, storage and transportation that require stringent testing and observation of international specifications. Similarly, initiatives from governments to promote clean energy and sustainable development also increase the need for TICs services to ensure that hydrogen technologies remain safe and reliable. These put together make Asia Pacific the dominant market for hydrogen TIC services.

Key Market Players