Press release
Hydrogen Market to Witness Steady Growth at 6.1% CAGR During 2017-2025
Global Hydrogen Market: Dynamics
There are several aspects that are contributing to the growth of the global hydrogen market. Factors such as growing preference for on-site generation systems for hydrogen, rising technological advancements, and increasing adoption of hydrogen in various applications across several end user industries are expected to push the market’s growth in the coming years. Moreover, trends such as development of recirculation systems, introduction of green production technologies and increasing rental plans for hydrogen generators are expected to positively influence the growth of the global hydrogen market. However, high cost of production is expected to pose a major hindrance to the growth of the global hydrogen market.
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Global Hydrogen Market: Segmental Analysis
The global hydrogen market is segmented on the basis of production and delivery mode, production method, end use and region.
In the production and delivery mode category, centralized production segment is expected to be the largest with a high market valuation. This segment is expected to largely contribute to the growth of the global market in the years to follow. Trucks are expected to contribute to the growth of the centralized production segment during the forecast period. On the other hand, the distributed production segment is projected to grow at the highest rate throughout the period of assessment to register a CAGR of 6.2%
By production method, steam methane reforming is expected to gain high steam throughout the forecast period. The steam methane reforming segment in the production method category is estimated to reach a significant market value and is projected to grow at a relatively high value CAGR owing to increasing adoption during the period of assessment. the partial oxidation of oil segment is the second largest from a value perspective
In the end use category, hydrogen is predominantly used in petroleum refining, making this segment the largest with a high market estimation. The revenue sales generation from this segment across the globe has highly contributed to the growth of the global market, thus making it the leading end use segment. Moreover, the automotive fuel segment and energy segment, both are projected to grow at a high value CAGRs throughout the forecast period
By region, Asia Pacific is the most lucrative with a high market share in the global hydrogen market. Asia Pacific region is expected to dominate the global market in the coming years, followed by Europe with respect to market valuation
Global Hydrogen Market: Forecast Highlights
The global hydrogen market is expected to grow at a significant rate in the coming years. According to the research report, the global hydrogen market is estimated to reach a market value of over US$ 200 Bn by the end of the year of assessment from a value of around US$ 130 Bn in 2017. Moreover, the global hydrogen market is projected to grow at a robust value CAGR of 6.1% throughout the period of assessment.
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Global Hydrogen Market: Competitive Assessment
The research report on global hydrogen market covers complete analysis on competition landscape wherein key aspects of main companies involved in the hydrogen market are analyzed. Key company aspects such as company overview, key financials, mergers and acquisitions, strategies, geographical reach, expansion plans, product portfolio and developments and innovations have been covered in this chapter. Main companies such as Air Liquide S.A., The Linde Group, Air Products and Chemicals, Inc., Iwatani Corporation, Showa Denko K.K., Teledyne Technologies Inc., Messer Group GmbH, Hydrogenics Corp., Nel ASA, Southern Industrial Gas Sdn Bhd, Hy.Gear B.V., Xebec Adsorption Inc., ALLY HI-TECH CO., LTD, Ellenbarrie Industrial Gases Ltd., CLAIND srl, Bristol Gases – Concorde Corodex Group, Taiyo Nippon Sanso Corporation, Yateem Oxygen, Nuvera Fuel Cells, LLC and Gulf Cryo Holding C.S.C have been analyzed and included in this research report.
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