Pink Hydrogen Market Size to Hit USD 252.82 Billion by 2033 | Straits Research

The Pink Hydrogen Market Size was valued at USD 24.45 Billion in 2024. It is projected to reach from USD 31.68 Billion by 2025 to USD 252.82 Billion by 2033, growing at a CAGR of 29.6% during the forecast period (2025–2033).

/EIN News/ -- New York, United States, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Pink hydrogen is a type of clean hydrogen produced through the electrolysis of water, where the electricity required for the process is generated by nuclear energy. This method offers a carbon-free alternative to traditional hydrogen production processes that rely on fossil fuels, such as steam methane reforming.

Pink hydrogen is gaining attention as countries aim to decarbonize heavy industries, transportation, and power sectors. It is particularly appealing in regions with established nuclear infrastructure or plans for advanced nuclear technologies like small modular reactors (SMRs).

This technology aligns with global goals for reducing greenhouse gas emissions and offers an opportunity to diversify hydrogen production methods while supporting the transition to a sustainable energy future.

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Market Dynamics

Supportive government policies and decarbonization goals drive the global market

Supportive government policies and ambitious decarbonization targets are driving the growth of the global pink hydrogen market. With nations committing to significant carbon emission reductions, hydrogen is emerging as a pivotal element in decarbonizing high-emission industries such as steel, cement, and transportation. Pink hydrogen, produced using nuclear energy, is gaining momentum as a low-carbon and reliable energy source.

• For example, France is advancing plans to construct 13 next-generation nuclear reactors, while the UK aims to achieve 24 GW of nuclear capacity by 2050, supported by investments in small modular reactors (SMRs). These initiatives reflect a global shift towards integrating nuclear power with hydrogen production to meet carbon reduction goals under agreements like the Paris Accord.
  This synergy between nuclear energy and hydrogen production is establishing pink hydrogen as a key player in sustainable energy transitions worldwide.

Technological advancements in nuclear power create tremendous opportunities

Technological advancements in nuclear power, particularly in small modular reactors (SMRs) and Generation IV reactors, are creating significant growth opportunities for the global pink hydrogen market. These innovations offer safer, more cost-effective, and scalable solutions for hydrogen production.

Additionally, high-temperature gas-cooled reactors (HTGRs) and molten salt reactors are enhancing hydrogen generation efficiency by producing heat at optimal temperatures, which improves the process of splitting water into hydrogen and oxygen.

• For example, the Turkish Energy, Nuclear, and Mining Research Institute (TENMAK) is focused on advancing green hydrogen and electrolyzer technology. The Institute aims to scale from a 500 kW electrolyzer in 2023 to a more ambitious 500 MW to 1 GW by 2053, highlighting its long-term commitment to innovation in hydrogen production.

Regional Analysis

Europe is at the forefront of the global pink hydrogen market, driven by its ambitious decarbonization goals and commitment to sustainable energy. The European Union (EU) has set an aggressive target to achieve net-zero emissions by 2050, spurring significant investments in clean energy solutions, including nuclear power and hydrogen production technologies. Pink hydrogen, produced through nuclear energy, aligns perfectly with Europe’s strategy to reduce its reliance on fossil fuels while enhancing energy security.

Countries like France and the UK are leading the charge, thanks to their well-established nuclear infrastructures, making integrating nuclear-based hydrogen into their energy mix easier. Moreover, both nations are actively expanding their nuclear capacity, with plans for new reactors, contributing further to Europe’s efforts to develop a low-carbon hydrogen economy. This strong commitment, backed by ongoing technological advancements, positions Europe as a leader in driving the growth of the pink hydrogen sector.

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Key Highlights

• The global pink hydrogen market size was valued at USD 45 billion in 2024 and is projected to grow from USD 31.68 billion in 2025 to reach USD 252.82 billion by 2033, growing at a CAGR of 29.6% over the forecast period (2025-2033).
  
• Based on the process, the global marketis segmented into PEM electrolysis, alkaline electrolysis, and solid oxide electrolysis. The PEM electrolysis segment owns the highest market share.
• Based on form, the global marketis segmented into liquid and gas. The gassegment is the largest revenue contributor to the market.
• Based on end-users, the global marketis segmented into refinery, ammonia, cement industry, steel production, aviation and transportation, and others. The steel productionsegment is the largest revenue contributor to the market.
• Europeis the most significant global pink hydrogen market

Competitive Players

1. Siemens Energy
2. Air Products and Chemicals
3. OKG Aktiebolag
4. Linde Plc
5. Exelon Corporation
6. Air Liquid
7. Nel ASA
8. Hydrogen Systems
9. Iberdrola SA
10. SGH2Energy
11. Constellation Energy
12. Axpo Group
13. Mitsubishi Heavy Industries, Ltd

Recent Developments

• In October 2023, Constellation Energy successfully completed a pioneering project to produce "pink hydrogen" at its Nine Mile Point Nuclear Plant in New York. This milestone marks the first instance of a nuclear plant in the United States generating its own H₂, leveraging nuclear power to split water molecules through electrolysis.

Segmentation

By Process

• PEM Electrolysis (Polymer Electrolyte Membrane)
• Alkaline Electrolysis
• Solid Oxide Electrolysis

By Form

• Liquid
• Gas

By End-User

• Refinery
• Ammonia
• CementIndustry
• Steel Production
• Aviation and Transportation
• Others

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