Blue Hydrogen Market Scenario Highlighting Major Drivers & Growth by 2031

blue hydrogen market size was valued at $0.9 billion in 2021, and blue hydrogen industry is estimated to reach $3.5 billion by 2031, growing at a CAGR of 14.1% from 2022 to 2031. Emergence of various technologies to produce hydrogen including steam methane reforming, partial oxidation of oil, coal gasification, and auto thermal reforming drives the growth of the global blue hydrogen market.

Download Sample PDF@ https://www.alliedmarketresearch.com/request-sample/16376

Hydrogen is used in the production of ammonia and methanol. Ammonia's potential as a carbon-free fuel, hydrogen carrier, and energy store represents an opportunity for renewable hydrogen technologies to be deployed at an even greater scale. Hydrogen is typically produced on-site at ammonia plants from a fossil fuel feedstock. The most common feedstock is natural gas, which feeds a steam methane reforming (SMR) unit. Coal can also be used to produce ammonia via a partial oxidation (POX) process.

Methanol is currently considered to be one of the most useful chemical products and is a promising building block for obtaining more complex chemical compounds, such as acetic acid, methyl tertiary butyl ether, dimethyl ether, and methylamine. Methanol is the simplest alcohol, appearing as a colorless liquid and with a distinctive smell, and can be produced by converting CO2 and H2, with the further benefit of significantly reducing CO2 emissions in the atmosphere.

The major companies profiled in this report include ATCO Ltd, Linde Plc, Air Liquide S.A., Suncor Energy Inc., Royal Ductch Shell PLC, Air Products Inc., Cummins Inc., Siemens Energy (Siemens AG), Toshibha Energy Systems & Solutions Corp., Equinor ASA, CertifHy Canada Inc., Xebec Adsorption Inc, Uniper SE, Saudi Aramco, and Reliance Industries. Rapid development of industrialization, modernization and increase in awareness among the individuals regarding the environmental impact of fossil fuels has fuelled the demand for blue hydrogen. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the green energy application led to attain key developments in the global blue hydrogen market trends.

The global blue hydrogen market is analyzed across technology, end-use, industry, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/16376

Europe and Latin America regions are promoting the hydrogen economy. Governments around the world are announcing policy statements and releasing hydrogen strategies to support the hydrogen economy. Austria's NECP plans to promote hydrogen to help increase the share of renewable energy in total energy consumption to 45-50% by 2030. The government outlined a national hydrogen strategy as part of its policy programme. Belgian encourages the development of hydrogen projects through subsidies and other legislative initiatives. It published its hydrogen roadmap in 2018, with long term goals for 2030 and 2050. It also allocated $70 million an investment plan for power-to-gas projects. The presence of above mentioned initiatives and applications will provide ample opportunities for the development of the market.

By technology, the steam methane reforming segment garnered more than four-fifths of the global blue hydrogen market in 2021, and would rule the roost by the end of 2031. The auto thermal reforming segment, on the other hand, would display the fastest CAGR of 16.0% from 2022 to 2031. The gas partial oxidation segment is also assessed in the study.

Based on end use, the chemical segment held more than two-thirds of the global market in 2021, and is expected to dominate by 2031. The others segment, however, would manifest the fastest CAGR of 15.0% throughout the forecast period. The power generation and refinery segments are also covered in the report.

Key findings of the study
• On the basis of region, Asia-Pacific is projected to exhibit CAGR of 13.9% from 2022 to 2031.
• As per blue hydrogen market analysis, Japan is projected to exhibit CAGR of 13.3% from 2022 to 2031.
• South Korea is projected to exhibit CAGR of 14.1% from 2022 to 2031
• North America held dominant position in 2021 and would continue to maintain the lead during the forecast period.
• On the basis of technology, steam methane reforming technology segment accounted for the largest share in 2021.
• On the basis of end use, chemical end use segment is projected to be the most lucrative segment during the forecast period.
• On the basis of industry, ammonia based segment is projected to create abundant revenue opportunity till 2030.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research

About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.