Hydrogen Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition
Hydrogen Price Trend, Index and Forecast
Track the latest insights on hydrogen price trend and forecast with detailed analysis of regional fluctuations and market dynamics across North America, Latin America, Central Europe, Western Europe, Eastern Europe, Middle East, North Africa, West Africa, Central and Southern Africa, Central Asia, Southeast Asia, South Asia, East Asia, and Oceania.
Hydrogen Prices Outlook Q3 2025
- USA: USD 3,642/MT
- Japan: USD 5,030/MT
- Netherlands: USD 5,167/MT
- UAE: USD 5,975/MT
- Saudi Arabia: USD 4,285/MT
Hydrogen Price Chart
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During the third quarter of 2025, the hydrogen prices in the USA reached 3,642 USD/MT in September. Hydrogen prices in the country were primarily influenced by fluctuations in natural gas costs, which serve as the main feedstock for gray hydrogen production. Increased investments in green hydrogen projects led to higher operating expenditures during the construction phase, adding short-term cost pressure. Demand from the refining and fertilizer sectors remained firm, while elevated transportation and storage costs due to limited infrastructure contributed to regional price disparities.
During the third quarter of 2025, the hydrogen prices in Japan reached 5,030 USD/MT in September. In Japan, hydrogen prices were driven by strong policy support for the hydrogen economy, coupled with dependence on imports of liquefied hydrogen and ammonia-based carriers. Rising logistics costs and limited domestic production capacity increased procurement expenses. Demand from the mobility and power generation sectors surged as several pilot hydrogen fuel projects advanced, contributing to stable price momentum despite currency fluctuations.
During the third quarter of 2025, the hydrogen prices in the Netherlands reached 5,167 USD/MT in September. The market was impacted by ongoing energy transition initiatives and the rising cost of renewable electricity used in electrolysis. Supply was constrained by delays in commissioning large-scale electrolyzer projects. Strong demand from the refining and chemical sectors sustained market tightness, while elevated carbon prices encouraged substitution toward cleaner hydrogen alternatives.
During the third quarter of 2025, the hydrogen prices in the UAE reached 5,975 USD/MT in September. Hydrogen pricing in the UAE reflected increasing investments in blue and green hydrogen facilities. Feedstock availability and energy input costs remained key price determinants. The export-oriented production model led to supply allocation challenges in the domestic market. Demand from the energy and petrochemical sectors remained robust, supported by the government’s decarbonization roadmap.
During the third quarter of 2025, the hydrogen prices in Saudi Arabia reached 4,285 USD/MT in September. The market was influenced by the government’s ongoing push for large-scale green hydrogen projects under Vision 2030. Prices reflected steady domestic demand from refining and ammonia sectors. Infrastructure development delays and high costs of renewable energy integration continued to exert upward price pressure in this quarter.
Hydrogen Prices Outlook Q2 2025
- USA: US$ 3,865/MT
- Japan: US$ 4,915/MT
- Netherlands: US$ 5,352/MT
- UAE: US$ 6,260/MT
- Saudi Arabia: US$ 4,490/MT
During the second quarter of 2025, the hydrogen prices in the USA reached 3,865 USD/MT in June. As per the hydrogen price chart, policy shifts under the Trump administration posed challenges to the hydrogen sector. Proposed cuts to federal tax credits threatened to undermine investments in clean hydrogen projects. These policy changes accelerated a pivot toward blue hydrogen, produced from fossil fuels with carbon capture, utilization, and storage (CCUS) technologies, impacting prices.
During the second quarter of 2025, hydrogen prices in Japan reached 4,915 USD/MT in June. Prices in Japan remained elevated, influenced by a combination of production costs, infrastructure limitations, and policy interventions. Japan's hydrogen is primarily produced through steam methane reforming (SMR) and electrolysis, both of which are energy-intensive processes. The reliance on imported natural gas and electricity contributed to higher production costs, making hydrogen less competitive compared to other energy sources.
During the second quarter of 2025, the hydrogen prices in the Netherlands reached 5,352 USD/MT in June. Hydrogen prices in the Netherlands remained influenced by production costs and regulatory frameworks. The balance between supply and demand, along with the pace of infrastructure development and technological advancements, played crucial roles in shaping the market dynamics.
During the second quarter of 2025, the hydrogen prices in the UAE reached 6,260 USD/MT in June. Hydrogen prices were down toward the end of the quarter. This decrease was primarily driven by advancements in production technologies and increased competition in the market. The UAE's National Hydrogen Strategy aimed to position the country as a leading producer of low-carbon hydrogen by 2031. This initiative also led to elevated investments in hydrogen production facilities and infrastructure. As a result, the supply of hydrogen became more abundant, contributing to the downward pressure on prices.
During the second quarter of 2025, the hydrogen prices in Saudi Arabia reached 4,490 USD/MT in June. Saudi Arabia's commitment to becoming a global leader in hydrogen production, as outlined in its Vision 2030 strategy, led to significant investments in both green and blue hydrogen projects. Besides, the development of large-scale projects, such as the NEOM green hydrogen initiative, increased the supply of hydrogen in the market. This influx of supply, coupled with steady demand from industrial sectors, contributed to the downward pressure on prices.
Hydrogen Prices Outlook Q1 2025
- United States: US$ 4,040/MT
- Japan: US$ 5,560/MT
- Netherlands: US$ 5,920/MT
- United Arab Emirates: US$ 6,670/MT
- Saudi Arabia: US$ 4,780/MT
During the first quarter of 2025, the hydrogen prices in the USA reached 4,040 USD/MT in March. As per the hydrogen price chart, the rising cost of natural gas, a crucial input for hydrogen production, pushed prices in some segments higher. Besides, strong demand, especially from industrial sectors, and increasing exports of hydrogen also contributed to price volatility.
During the first quarter of 2025, the hydrogen prices in Japan reached 5,560 USD/MT in March. The cost of renewable energy, especially solar and wind power, which are used to power electrolyzes, directly impacted the cost of green hydrogen production. Besides, Japan’s strong hydrogen strategy and subsidies and tax incentives to promote green hydrogen production also influenced the overall market dynamics and pricing.
During the first quarter of 2025, the hydrogen prices in the Netherlands reached 5,920 USD/MT in March. The Netherlands' reliance on natural gas for energy contributed to the high cost of electricity, which in turn affected hydrogen pricing. Besides, investments in infrastructure, such as hydrogen pipelines and storage facilities, further influenced pricing.
During the first quarter of 2025, the hydrogen prices in the UAE reached 6,670 USD/MT in March. Innovations in electrolysis technology, such as improved efficiency and the use of cheaper catalysts, lowered hydrogen production costs, potentially leading to price changes.
During the first quarter of 2025, the hydrogen prices in Saudi Arabia reached 4,780 USD/MT in March. The development of matured solid-state and liquid storage and transportation technologies, which allow to transform hydrogen into transportable forms, influenced pricing across the region.
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Regional Coverage
The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the hydrogen prices.
Europe Hydrogen Price Trend
Q3 2025:
As per the hydrogen price index, prices in Europe were influenced by elevated energy costs and limited renewable electricity availability for electrolysis. Demand from the refining, chemical, and mobility sectors remained solid. Supply constraints arose due to delays in electrolyzer installations and restricted hydrogen imports. Carbon pricing mechanisms and emission reduction policies added further upward pressure on regional prices.
Q2 2025:
As per the hydrogen price index, prices in Europe experienced notable fluctuations, influenced by significant infrastructure developments, policy initiatives, and market dynamics. This decline was attributed to increased competition among producers and advancements in production technologies, which contributed to a reduction in production costs. Besides, the European Union's commitment to reducing CO₂ emissions and replacing natural gas with hydrogen served as a driving force behind infrastructure projects and hydrogen demand.
Q1 2025:
As per the hydrogen price index, hydrogen price fluctuations in Europe during Q1 2025 were influenced by a combination of factors, including geopolitical tensions, supply chain issues, and shifting demand. Specifically, rising geopolitical risks and supply constraints led to changes in hydrogen prices, while fluctuating industrial activity and seasonal demand also played a role. Furthermore, the price of different variants of hydrogen, such as green hydrogen, was impacted by the rising cost of renewable energy and the availability of low-cost solar and wind energy.
This analysis can be extended to include detailed hydrogen price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Hydrogen Price Trend
Q3 2025:
As per the hydrogen price index, in North America, market prices increased due to constrained feedstock availability and rising operational costs at reforming units. Infrastructure bottlenecks in transportation and storage continued to restrict supply flexibility. Demand remained strong across refining and mobility sectors, while government incentives for clean hydrogen deployment supported investor sentiment.
Q2 2025:
By June 2025, hydrogen prices in North America were declining from the previous quarter. This decrease was primarily driven by softening natural gas prices, a key feedstock for hydrogen production via steam methane reforming. Besides, the US green hydrogen industry faced challenges due to policy shifts under the Trump administration. Despite policy uncertainties, hydrogen demand remained steady, particularly from industrial sectors such as refining and ammonia production.
Q1 2025:
Rising demand for hydrogen in various areas, including industrial applications, transportation, and energy storage, pushed the costs. Besides, the US experienced growing demand for hydrogen, driven by both existing industries like petroleum refining and ammonia production, and emerging applications like clean energy and transportation. Moreover, the "Hydrogen Shot" program, and other initiatives aimed at boosting hydrogen production, influenced market sentiment and led to price changes.
Specific hydrogen historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Hydrogen Price Trend
Q3 2025:
In the Middle East and Africa, hydrogen prices were shaped by rapid investment in blue and green hydrogen projects. Strong demand from energy and chemical sectors coincided with rising project execution costs. Export-oriented production in the Gulf countries influenced domestic supply. Transportation and desalination energy inputs added to production expenses.
Q2 2025:
As per the hydrogen price chart, the Middle East's strategic investments in hydrogen production, particularly in Saudi Arabia, led to increased supply. Saudi Arabia's commitment to producing 1.2 million tons of green hydrogen by 2030, coupled with significant investments in renewable energy projects, has bolstered production capacities. On the demand side, the region's focus on exporting hydrogen to global markets, especially Europe and Asia, sustained demand levels. However, the improved supply outpaced demand, contributing to the downward pressure on prices.
Q1 2025:
As per the hydrogen price chart, hydrogen prices in the Middle East fluctuated due to a combination of factors, including geopolitical events, supply disruptions, and global demand. Geopolitical tensions, particularly in the Middle East and related to Russian gas supplies, caused energy price volatility, impacting hydrogen production costs. Supply constraints and increased industrial demand also contributed to price changes. Additionally, the rising cost of renewable energy, crucial for green hydrogen production, played a role in the price fluctuations.
In addition to region-wise data, information on hydrogen prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East and Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Hydrogen Price Trend
Q3 2025:
In the Asia Pacific region, hydrogen prices were influenced by high renewable power costs and expanding fuel cell applications. Supply disruptions due to maintenance activities at major production sites tightened availability. Policy-driven demand growth in Japan, China, and India strengthened market fundamentals. Shipping costs also contributed to higher landed prices in import-dependent nations.
Q2 2025:
Hydrogen prices in India remained relatively flat throughout June 2025, following a modest increase in the first half of the month. The market maintained a balanced outlook, supported by stable production costs and consistent demand from key sectors such as fertilizers, direct reduced iron (DRI)-based steel production, and refineries. The uninterrupted availability of feedstocks further contributed to this stability. Additionally, the government introduced various policies and initiatives to promote the growth of the hydrogen market, including the Green Hydrogen Policy and the National Policy on Biofuels, further impacting price trends.
Q1 2025:
During the first quarter of 2025, seasonal variations in renewable energy production and industrial demand influenced hydrogen prices. Besides, supply constraints, related to natural gas, a feedstock for some hydrogen production methods, and limited infrastructure, also contributed to price fluctuations.
This hydrogen price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Hydrogen Price Trend
Q3 2025:
Latin America's hydrogen market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in hydrogen prices.
Q2 2025:
Latin America's hydrogen market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in hydrogen prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, the hydrogen price index, economic fluctuations, and currency devaluation are critical factors that need to be considered when analyzing hydrogen pricing trends in this region.
Q1 2025:
The analysis of hydrogen prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Hydrogen Price Trend, Market Analysis, and News
IMARC's latest publication, “Hydrogen Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the hydrogen market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of hydrogen at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents detailed hydrogen prices trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting hydrogen pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.
Hydrogen Industry Analysis
The global hydrogen industry size reached USD 192.12 Billion in 2024. By 2033, IMARC Group expects the market to reach USD 300.61 Billion, at a projected CAGR of 4.85% during 2025-2033. Growth in the global hydrogen market is driven by rising demand for clean energy solutions, increasing investments in green hydrogen technologies, and growing applications in transportation, refining, and chemical manufacturing.
Latest developments in the Hydrogen industry:
- February 2025: Spanish gas grid operator Enagás announced it would invest over USD 4.18 billion by 2030, with a major focus on hydrogen infrastructure development. Hydrogen infrastructure will thus form the cornerstone of Enagás’s diversification strategy as it transitions from conventional gas operations.
- November 2024: Hybitat Srl, a unit of SIT Group, launched a green hydrogen generation and storage system for residential, commercial, and public use. The first 200 kWh system, sold recently, will be installed in an 18th-century residence in 2025. It uses excess solar power to produce hydrogen, which can be stored and later converted into electricity or used in gaseous form.
- October 2024: Adani Group begun blending 2.2-2.3% green hydrogen into the natural gas supplied to households in Shantigram, Ahmedabad, as part of its efforts to reduce emissions and achieve net-zero targets. The initiative, led by Adani Total Gas Ltd, a joint venture with TotalEnergies, uses hydrogen produced through clean methods, which is injected into natural gas pipelines to generate heat and power with lower emissions.
- July 2024: Tecnimont Private Limited, the Indian subsidiary of Tecnimont, and NEXTCHEM have inaugurated India's first green hydrogen production plant for GAIL (India) Limited at Vijaipur, Madhya Pradesh. The plant, awarded in May 2022, will produce 4.3 Tons of green hydrogen per day using 10 megawatt electrolysers. This marks a significant milestone as GAIL becomes the first company in India to begin megawatt-scale green hydrogen production, advancing the country’s transition to low-carbon energy solutions.
Product Description
Hydrogen (H₂) is the lightest and most abundant element in the universe, existing as a colorless, odorless, and highly flammable gas. It is primarily produced through natural gas reforming, coal gasification, or water electrolysis. Depending on its production source, hydrogen is classified as gray, blue, or green. It possesses high energy density per unit mass, making it an efficient energy carrier.
Hydrogen is used extensively in the refining industry for hydrocracking and desulfurization, in the chemical sector for ammonia and methanol production, and increasingly as a clean fuel in fuel cells for transportation and power generation. Industrial uses also include metallurgy, semiconductor processing, and electronics manufacturing. With the global shift toward decarbonization, hydrogen is emerging as a key enabler of clean energy transitions across multiple industries.
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Hydrogen |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Hydrogen Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
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| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
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| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of hydrogen pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
- The study examines factors affecting hydrogen price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The hydrogen price charts ensure our clients remain at the forefront of the industry.
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