Hydrogen Market 2022 Inclinations & Development Status Highlighted During Forecast Period 2027 | Air Liquide International S.A., Air Products and Chemicals, Inc., Hydrogenics, Linde plc

Astute Analytica's recent report on the Global Hydrogen Market outlines various sections discussing the prospects of the market. The report contains a thorough analysis of the market, discussing trends, growth factors, challenges, innovations, and outperforming strategies. Based on primary and secondary research, this in-depth analysis includes both qualitative and quantitative studies.

Global Hydrogen Market is estimated to witness a rise in revenue from US$ 194,899.0 Million in 2021 to US$ 286,789.2 Million by 2027. The market is registering a CAGR of 6.6% during the forecast period 2022-2027.

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The global hydrogen market is forecast to experience strong growth potential due to growing energy consumption across the world. It is majorly attributed to the rising population, increasing industrialization, and growing urbanization. Further, the growing range of data centers and other commercial buildings will also contribute to the growth of the market.

COVID-19 Impact Analysis

The global hydrogen market experienced a sharp decline due to the COVID-19 outbreak. According to data from BP's Statistical Review of World Energy, Primary energy consumption dropped by nearly 4.5% in 2020, which is considered to be the largest decline since 1945.

The same source estimates that the US, India, and Russia witnessed the largest declines in energy consumption. However, China recorded a significant increase of nearly 2.1% in the energy demand. This thorough study by Astute Analytica covers all the factors impacting the market directly or indirectly. The report discusses the contribution of regions and companies in the form of investments and innovative strategies.

Regional Analysis

By Technology segment of the Global Hydrogen Market is sub-segmented into:
Thermal Process
Steam Methane Reforming (SMR)
Partial Oxidation (POX)
Coal Gasification
Biomass Gasification
Electrolytic Process
SOEC
SOFC
PEM
Others

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By Application segment of the Global Hydrogen Market is sub-segmented into:
Methanol Production
Ammonia Production
Petroleum Refinery
Heat Treatment
Transportation
Power Generation
Renewable Energy
Hydrogen Fuel Cell
Fuel Cell Vehicles
Fuel Cell Ships
Fuel Cell Battery
Mobile Power Generation
Others

By Delivery Mode segment of the Global Hydrogen Market is sub-segmented into:
Captive
Merchant

By Region segment of the Global Hydrogen Market is sub-segmented into:
North America
The U.S.
Canada
Europe
The UK
Germany
France
Norway
The Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Rest of the World
Middle East & Africa (MEA)
Latin America

Key Players Insights

Global Hydrogen Market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the market includes Air Liquide International S.A., Air Products and Chemicals, Inc., Hydrogenics, Linde plc, NEL Hydrogen, Showa Denko, Iwatani CO, Messer Group GmbH, Teledyne Technologies Inc., Claind, Cummins, HyTech Power, Inox, ITM Power, PowerTap and Weldstar, Inc. among others.

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About Astute Analytica:

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This release was published on openPR.