Portugal Hydrogen Energy Market Size, Share and Forecast 2033

Market Overview

The Portugal hydrogen energy market size reached USD 900.60 Million in 2024 and is projected to grow to USD 2,056.99 Million by 2033, with a CAGR of 8.61% during 2025-2033. This market is pivotal to Portugal's clean energy transition, driven by rich renewable resources like solar and wind, and reinforced by government strategy and EU funding promoting green hydrogen as a key energy vector.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Portugal Hydrogen Energy Market Key Takeaways

• Current Market Size: USD 900.60 Million in 2024
• CAGR: 8.61% (2025-2033)
• Forecast Period: 2025-2033
• Portugal's National Hydrogen Strategy (EN-H2) targets a 10% hydrogen share in national energy consumption by 2030 and 15% hydrogen injection into natural gas networks.
• Major infrastructure projects include the Sines industrial cluster with 1 GW electrolysis capacity and 50–100 hydrogen refueling stations.
• Portugal benefits from abundant solar and wind resources, enabling low-cost, large-scale green hydrogen production.
• Strategic location and export potential enhanced by deep-water ports like Sines, with projects including MadoquaPower2X developing facilities producing green hydrogen and ammonia.
• EU funding and private investment support technological innovation and market expansion.

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Market Growth Factors

Portugal's government supports developing the hydrogen economy in Europe. The National Hydrogen Strategy (EN-H2) seeks to use hydrogen more and increase that usage to 10% of gross final energy consumption by 2030 because that usage aligns with EU climate targets. Additionally, it plans on using hydrogen for transport, using hydrogen throughout industry, using hydrogen for energy storage, as well as blending 15% hydrogen into natural gas distribution networks. It also plans to electrolyze 1 GW in the Sines industrial cluster and station 50 to 100 hydrogen. The policy lessens investment risk and involves the private sector to help rapidly develop and strengthen hydrogen technologies.

Portugal has abundant solar and wind resources for power. Renewables generate over half of Portugal's electricity. Portugal suits low-cost electrolysis for green hydrogen. High solar irradiation combines in offshore wind projects to make this market attractive. This enables low-cost green electricity to ensure hydrogen is economically viable and exported, renewables integrate sustainably into the grid, and contribute toward the EU decarbonization goals.

Industrial demand and exports represent another market driver. Cement, steel and refining industries that consume energy highly explore green hydrogen in response to strict emissions controls in Europe. Portugal's favorable geographical position, with deep-water ports such as Sines and connections toward Spain and continental Europe, suggests export potential. The 1 gigawatt (GW) MadoquaPower2X project plans to produce 150,000 tonnes each year (t/a) of green hydrogen along with 300,000 t/an of ammonia. The goal involves job creation and investment attraction, also Portugal must become a hydrogen corridor.

Market Segmentation

Production Method:

• Steam Methane Reforming (SMR)
• Electrolysis
• Coal Gasification
• Others

Analysis includes detailed breakdown and insights for each production method.

Type:

• Grey Hydrogen
• Blue Hydrogen
• Green Hydrogen

Detailed segmentation and market share data for each hydrogen type provided.

Application:

• Transportation
• Industrial
• Power Generation
• Others

Comprehensive analysis of hydrogen usage across various sectors.

Region:

• Norte
• Centro
• A. M. Lisboa
• Alentejo
• Others

Regional market segments with forecasts and trends are detailed.

Regional Insights

The report does not specify which region dominates; thus, dominant region information is not provided in the source. However, regions analyzed include Norte, Centro, A. M. Lisboa, Alentejo, and others, offering comprehensive insights into market distribution across Portugal.

Recent Developments & News

In July 2025, Portugal and Morocco enhanced strategic cooperation prioritizing green hydrogen, electricity interconnection, and maritime connectivity. Portuguese Foreign Minister Paulo Rangel and Moroccan Foreign Minister Nasser Bourita reaffirmed commitments via a Joint Statement emphasizing green hydrogen's importance in the Europe-Africa energy transition.

In September 2024, Portugal's AICEP granted Potential National Interest (PIN) status to DH2 Energy's VVR Green hydrogen project in Vila Velha de Ródão. The plant initially features 35 MW electrolysis and 49 MWp solar PV with annual production of 1,650 tons of renewable hydrogen, planned for expansion to 75 MW and 100 MWp solar.

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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