Hydrogen Gas Market Analysis, Status and Business Outlook 2021 to 2026

The hydrogen gas market is expected to witness a CAGR of above 5% during the forecast period . The Global Hydrogen Gas Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.

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Key Market Players:

Aditya Birla Chemicals, Air Liquide, Air Products and Chemicals Inc., BASF SE, Gujarat Alkalies and Chemicals Limited, Gulf Cryo, Matheson Tri-Gas Inc., Messer Group, Praxair Technology Inc., The Linde Group, Universal Industrial Gases Inc. and Other

Key Market Trends

Refining Segment to Dominate the Market Demand

- The refining industry dominates the demand for hydrogen gas. In refineries, hydrogen gas is extensively used to process crude oil into refined fuels, like gasoline and diesel, and for removing contaminants, such as sulfur from refined fuels.
- There are various hydro-treating processes in a refinery, in which hydrogen gas is used, such as hydrodesulfurization, hydroisomerization, dearomatization, and hydrocracking.
- Approximately 75% of the hydrogen gas currently consumed worldwide, by oil refineries, comes from large hydrogen plants, which produce hydrogen from natural gas or other hydrocarbon fuels.
- Besides, refineries also cater to their demand through hydrogen recovery from hydrogen-containing streams generated during the refining processes.
- Due to the high demand for refined products and by-products, the downstream industry has been witnessing huge investments across the world for increasing refining capacities in the existing plants or setting up new refineries.
- Hence, with the investment and capacity additions, the demand for hydrogen gas from the refining industry is projected to increase, globally, during the forecast period.

North America Region to Dominate the Market

- The North American region dominated the global market share. The region has been witnessing noticeable investment in exploration, production, and refining sector, which is expected to drive the demand for hydrogen gas extensively in the coming years.
- For instance, in May 2019, the Royal Dutch Shell PLC subsidiary, Shell Chemical LP, conducted advancing feasibility studies for a potential USD 1.2 billion manufacturing expansion of mono ethylene glycol (MEG) production at its 841-acre Geismar chemicals complex in Ascension Parish, Louisiana.
- Similarly, numerous big oil companies have been looking to invest to capitalize on crude being produced from the booming Permian Basin in West Texas.
- Besides, industries like aerospace, metal fabrication, and chemicals, and other industries have also been witnessing growth in demand, which further increases production in the region.
- Thus, with such trends in the market, the demand for hydrogen gas from such industries is expected to increase significantly during the forecast period.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Hydrogen Gas market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Hydrogen Gas market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Hydrogen Gas market.

Market Segments: This part of the report discusses product type and application segments of the global Hydrogen Gas market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approaches Hydrogen Gas used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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- The market estimate (ME) sheet in Excel format

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How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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