Press release
Hydrogen Market to Reach Value of US$ 260 Bn by 2029
Hydrogen Market 2022-2029
According to a new market report published by Persistence Market Research “Global Market Study on Hydrogen: Electrolysis of Water Segment to Witness Highest Growth by 2020”, the hydrogen market was valued at 255.3 billion cubic meters in terms of volume and USD 96.6 billion in terms of value in 2013. It is expected to grow at a CAGR of 3.5% and 5.6% for volume and value respectively from 2014 to 2020, to reach an of 324.8 billion cubic meters in terms of volume and USD 141.4 billion in terms of value by 2020.
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The global hydrogen market has been witnessing unprecedented political and business momentum, owing to rapidly increasing number of policies and projects across the world. Hydrogen has the potential to aid variable renewable energy output, such as solar photovoltaic. Hydrogen is one of the renewable energy storage options that can act as a cost-effective mean of storing large amounts of electricity for a long duration. Hydrogen and hydrogen-based fuels can transport energy for long distances from renewable sources. Further acceleration of efforts is critical for ensuring significant growth of the hydrogen market for energy systems over the stipulated era.
Most environmental solutions necessitate the utilization of hydrogen, and are projected to further boost market growth. The hydrogen market is projected to exhibit a healthy CAGR of around 6% over the forecast period of 2021-2029.
Key Players:
The report has profiled some of the important players prevalent in the global like – Air Liquide S.A., The Linde Group, Air Products and Chemicals Inc., Iwatani Corporation, Showa Denko K.K., Messer Group GmbH, and Teledyne Technologies Inc. and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Hydrogen.
Key Takeaways of Hydrogen Market Study
The cost of supplying hydrogen from renewables is anticipated to foresee a drop over the forecast period, while the urgency of eliminating greenhouse gas emissions is increasing manifold.
Many countries have started taking concrete action to decarbonize their economies.
The hydrogen market has evolved over the recent years, with shifting applications from the automotive industry to sectors that are difficult to decarbonize, such as energy-intensive industries, transportation, aviation, shipping, and heating.
Hydrogen has developed vital synergies with renewable energies over time. The hydrogen market has substantially enhanced the growth potential of renewable solutions in diverse industries. Electrolysers can add flexibility to the demand side, as they integrate variable renewable energy (VRE) into energy systems.
Renewable hydrogen is technically viable today, and is fast approaching competitiveness in the economy. Rising interest in this supply option is driven by falling renewable energy costs and rising shares of variable renewable power supply.
The potential of hydrogen is not solely limited to generating electricity. Hydrogen can provide energy through combustion too.
In space applications, this is already the case, where it is used to propel rockets. Hydrogen could similarly be used to produce synthetic gas, which could allow more efficient fuels than the ones currently in existence.
All these factors are projected to lead to the growth of the hydrogen market over the coming decade.
“Hydrogen is being used as a feedstock in a rising number of industries, and, as such, de-carbonization is expected to increase over the time. Adhering to the development of advanced materials, as well as to improve the durability of commercial applications, are some of the factors contributing to the growth of hydrogen market,” says a PMR analyst.
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Hydrogen Market Manufacturers
Hydrogen Market Distributors/Traders/Wholesalers
Hydrogen Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
If you have any special requirements, please let us know and we will offer you the report as you want.
Report Highlights:
Detailed overview of parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current and projected market size in terms of value
Recent industry trends and developments
Competitive landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint
Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.
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About PersistenceMarketResearch:
PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
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