Hydrogen Market Worldwide Market Size, status, Revenue, growth rate, Future Analysis

Growing investment in research and development for the development of hydrogen as a fuel is a key trend in the global hydrogen market. For instance, according to the International Energy Agency (IEA), in 2018, the worldwide hydrogen fuel cars market has reached 8,000 units, in which the U.S. and Japan have contributed to 90% of it. Recently, various countries have introduced different policies to boost the use of this fuel. For instance, the Government of France has launched a $116.8 million ambitious plan for the deployment of hydrogen-based vehicles such as buses, trucks, and boats in the country aiming to reduce carbon emission.

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The hydrogen market is classified on the basis of distribution into pipelines, high pressure tube trailers, and cylinders. Among these, pipeline transportation is the cheapest alternative for gas distribution, as transportation by trailers or cylinders require liquefaction of the gas, which is a very expensive process. Among these three, pipelines are widely used to deliver large volume of gas from one place to another. For example, there are about 1,600 miles of gas pipelines are laid in the U.S. for the gas transportation. The trailers are generally suitable for transportation of the gas over long distances.

Based on end-use industry, the hydrogen market is classified into chemicals, aerospace and automotive, energy, refining, glass, and welding and metal fabrication. Among these, the chemicals industry occupies the largest market share, owing to increasing use of the gas as a fuel in the industry. It is mainly used in the production of ammonia and in the process of hydrocracking. It is also used as a hydrogenating agent in making unsaturated fats and oils such as margarine. It is also used in making methanol and hydrochloric acid. Furthermore, it is used as a reducing agent in the metal industry.

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Some of the major players operating in the global hydrogen market are Air Liquide, Linde, Praxair Inc., Air Products and Chemicals Inc., Showa Denko K.K. (SDK), In Hyster-Yale Materials Handling Inc., BASF SE, Messer Group GmbH, Universal Industrial Gases Inc., and Gulf Cryo.

The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Russia, Japan, China, India, Indonesia, Brazil, Saudi Arabia, and South Africa.

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