Global Hydrogen Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Hydrogen Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global hydrogen market report has been segmented on the basis of distribution, production process, end-use industry, and region.
Global Hydrogen Market: Overview
Hydrogen is a colorless, odorless, flammable gas combines chemically with oxygen to form water. It uses variety of process technologies such as chemical, electrolytic, biological, photolytic, and thermo-chemical.
Global Hydrogen Market: Dynamics
Increasing demand for hydrogen from chemical industry as there is constant requirement for gas in refineries in hydrocracker unit is a key factor expected to drive growth of the global market over the forecast period.
In addition, government across various countries such as the US, China, and Japan taking initiatives to increase use of hydrogen-based powered cars and growing concerns over fossil fuel-based energy are some other factors expected to further fuel growth of the target market over the forecast period.
Moreover, rising adoption of hydrogen in petroleum industries in order to process crude oil into refined fuels, and to eliminate impurities, such as sulfur is another factor expected to boost growth of the target market over the forecast period.
Furthermore, increasing demand for hydrogen from various end-use industries such as metals, glass industry, semiconductor, and chemical and rising awareness towards reducing carbon footprint are some other factors expected to propel growth of the global market over the forecast period.
However, high production and transportation of gas is a key factor expected to restrain growth of the global market over the forecast period. In addition, storage of gas is another complex issue and it requires spherical bulleted tanks which hampers growth of the target market over the forecast period.
Ongoing trend observed in the target market is increasing investments in research and development activities to develop hydrogen as a fuel, this trend is expected to support growth of the target market over the forecast period.
Rising adoption of hydrogen as a fuel across various industries such as automotive, chemical, etc., and increasing government initiatives towards clean energy along with promotion to use fuel cell electric vehicles (FCEVs) are some other factors expected to create potential revenue opportunities for players operating in the target market over the forecast period.
Global Hydrogen Market: Segment Analysis
Among the distribution segments, the pipeline segment is expected to register significant growth over the forecast period, owing to increasing use of pipelines to deliver large volume of gas from one place to another place.
Among the production process, the steam methane reforming segment is expected to register significant growth over the forecast period, owing to easy and abundant availability of methane.
Among the end-use industry segments, the chemicals industry segment is expected to register significant growth over the forecast period, owing to increasing use of gas as a fuel, especially for production of ammonia and in hydrocracking process.
Global Hydrogen Market: Regional Analysis
The market in Asia Pacific is expected to dominate in the global market in terms of revenue over the forecast period, owing to rising adoption of gas in refineries, and increasing development in hydrogen-based fuel cells across various countries in this region. In addition, manufacturers focus towards developing auto fueling stations across various countries in this region is expected to support growth of the market in this region.
Global Hydrogen Market Segmentation:
Segmentation by distribution:
- High-Pressure Tube Trailers
Segmentation by production process:
- Steam Methane Reforming
- Partial Oxidation
- Coal Gasification
- Electrolysis of Water
Segmentation by end-use industry:
- Aerospace and Automotive
- Welding and Metal Fabrication
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- L'Air Liquide S.A.
- Linde Group
- Praxair, Inc.
- Air Products and Chemicals, Inc.
- Showa Denko K.K.
- Hyster-Yale Materials Handling, Inc.
- BASF SE
- Messer Group GmbH
- Universal Industrial Gases Inc.
- Gulf Cryo
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