The Global Hydrogen Market size is estimated to be USD 145.51 billion in 2019 and is predicted to reach USD 270.54 billion by 2030 with a CAGR of 5.8% from 2020-2030. Hydrogen is non metallic, odorless, colorless, lightweight element with highly flammable diatomic gas. It has wide application in various industries which makes it more useful and it has a very versatile nature as well. It can also be used as fuel and also used in the fuel generation. It is also used as the major component in the hydrogen fuel cell for power generation and various other properties of the element makes it highly useful for industrial purpose.
Market Dynamics and Trends
There has been increase in the research and development activities over the period of time which has helps in the discovery of various new applications of the hydrogen. Furthermore, increase in technological advancement and presence of developed infrastructure is also expected to drive the growth of hydrogen market.
The other factors include wide application in different industries and presence of hydrogen in abundance and other characteristics are further expected to fuel the market growth. Furthermore, increase in chemical industry coupled with increased demand of fuel cells and increased demand of hydrogen based vehicles to reduce carbon emission is enhance the growth of hydrogen market. However, high cost of production and transportation of gas coupled with increased cost of liquefaction is also expected to hamper the growth of hydrogen market. Moreover, increased inclination towards the extensive use of hydrogen coupled with increase in strategic collaborations in the market is further expected to create lucrative opportunities in the hydrogen market over the forecast period.
Market Segmentations and Scope of the Study:
The global hydrogen market share is analyzed on the basis of delivery mode, technology, end user, and geography. On the basis of delivery mode, the market is segmented into captive and merchant. Based on technology, the market is fragmented into Steam Methane Reforming, Partial Oxidation of Oil, Coal Gasification, Methanol Reforming, Ammonia Cracking, and Electrolysis of Water. On the basis of end user, the market is divided into Chemical, Petroleum Refining, Metal Processing, Glass Industry, Edible Fats and Oils, Energy, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is expected to hold the major market share over the forecast period owing to the increased demand of hydrogen and wide applications. Furthermore, presence of developed infrastructure coupled with technological advancement is expected to augment the growth of hydrogen market.
Asia Pacific is expected to show rapid growth with gradual increase in market share owing to the presence of developing economies. Furthermore, increased demand of fuel cells coupled with increased demand of hydrogen fuel vehicle to reduce carbon emission and increase in research and development are also expected to accelerate the growth of hydrogen market.
The hydrogen market, which is highly competitive, consists of various market players. Some of the major market players include Linde, Air Liquide, Praxair Inc., Air Products and Chemicals Inc., In Hyster-Yale Materials Handling Inc., Showa Denko K.K. (SDK), BASF SE, Universal Industrial Gases Inc., Messer Group GmbH, and Gulf Cryo among others.
Over the period of time there have been various developments taken place in the market which is also expected to takes place in near future. For instance, in February 2019, The Linde Group has signed a contract with U.S. industrial gas company, Praxair Inc., to supply a hydrogen plant. The new plant will be part of Praxair's hydrogen system in Louisiana.
- The hydrogen market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the hydrogen market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the hydrogen market is provided in the report.
- The competitive analysis of the market players along with their market share in the global hydrogen market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Hydrogen market – By Delivery Mode
- Global Hydrogen market – By Technology
- Steam Methane Reforming
- Partial Oxidation of Oil
- Coal Gasification
- Methanol Reforming
- Ammonia Cracking
- Electrolysis of Water
- Global Hydrogen market –By End User
- Petroleum Refining
- Metal Processing
- Glass Industry
- Edible Fats and Oils
- Global Hydrogen market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America