Global Hydrogen Review 2025: The Evolution of Global Hydrogen
The IEA published its Global Hydrogen Review 2025: global demand reached around 100 million tonnes in 2024, but low-emission hydrogen still accounts for less than 1% of total production.
The International Energy Agency (IEA) published its "Global Hydrogen Review 2025" report, analysing the evolution of the global hydrogen sector. The report concludes that the pace of development is not aligned with the targets announced at the start of the decade, due to high costs, demand uncertainty and delays in projects and infrastructure. Even so, the IEA forecasts that low-emission hydrogen production will grow five-fold by 2030, rising from under 1% to around 4% of total production. China leads in installed electrolysis capacity and electrolyser manufacturing, while Europe, India, Japan and South Korea are rolling out policies to stimulate demand, particularly in shipping.
Portugal and the Renewable Hydrogen CfD Auction
The report highlights Portugal's first two-way Contract-for-Difference (CfD) auction for renewable hydrogen, concluded in February 2025. Eight projects were selected, with total capacity of 120 GWh/year (about 3.6 ktpa), equivalent to roughly 3% of current national demand. The scheme provides for 10-year contracts and a budget of €140 million.
- Global hydrogen demand in 2024: around 100 million tonnes, up roughly 2% from 2023.
- Low-emission hydrogen: grew about 10% in 2024, but still accounts for less than 1% of total production.
- The announced project pipeline was revised down from 49 Mtpa to 37 Mtpa by 2030, due to cancellations and delays.
- Investment in low-emission hydrogen: around US$4.3 billion in 2024, forecast to roughly double to about US$8 billion in 2025.