Press release
Industrial Hydrogen Market is expanding at a CAGR of 4.9% and to reach at US$ 19.8 Bn by 2024 End | PMR
Industrial Hydrogen Market is unquestionably the clean fuel of the future and is widely used in many sectors, including those producing chemicals, electronics, glass, metal, pharmaceuticals, and biotechnology, as well as in welding and metal fabrication. Persistence Market Research recently examined the use of hydrogen in various sectors and provided a projection for the industrial hydrogen market for the years 2023 to 2029.
The primary objective of the report is to highlight factors and trends influencing the global market over the forecast period and present market projections for industrial hydrogen across different production methods and applications, for a few specific global regions. A special attention has been given on production of hydrogen by electrolysis of water owing to a global focus on the development of green production technologies.
The report specifically focuses only on those industrial applications of hydrogen where a small volume of hydrogen is consumed and does not cover large volume end uses of hydrogen such as refinery, ammonia production, energy applications, etc.
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To understand and evaluate the demand and opportunities in this market, the report is categorically split into three sections by production method, by application, and by region. The report studies the industrial hydrogen market both in terms of market value and market volume.
The report starts with a market summary and market definition and provides a detailed analysis of the key drivers, restraints, opportunities, and trends governing the market over the forecast period. The subsequent sections include an in-depth analysis of the industrial hydrogen market by production method, by application, and by region; and present a granular detail of the market size in terms of value and volume for the period 2023-2024.
All the three sections assess the market on the basis of various factors affecting the market, covering the present scenario and future prospects.
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Key Companies
• Air Liquide
• Air Products & Chemicals Inc.
• Praxair inc.
• The Linde group
• Messer Group GmbH
• Others.
Research Methodology
The report tracks the global market in terms of volume consumption and is calibrated to obtain the market revenue estimates by multiplication of weighted average prices. The report uses in-depth secondary research to ascertain overall market size, top industry players, top production method, and top application.
The findings are also based on extensive primary research conducted by interacting with key industry players including manufacturers, distributors, retailers, and industry experts in the industrial hydrogen market. The report relies on information procured from industry association publications and the annual reports, publications, and presentations of hydrogen manufacturers to derive key insights based on the current market scenario and future prospects of the industrial hydrogen market.
Data acquired through primary and secondary research is triangulated and further scrutinized using advanced tools and processes to obtain qualitative and quantitative insights into the industrial hydrogen market. When determining the market size, the report forecasts hydrogen sales volume at the country level and utilizes average country level prices to arrive at a revenue estimate. CAGR and Y-o-Y growth is used to arrive at market projections for each segment in this market.
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The report ends with a study of key players operating in the industrial hydrogen market both producers and consumers. Key producers of industrial hydrogen profiled in this study include Air Liquide, Air Products and Chemicals Inc., The Linde Group, Praxair Inc., and Messer Group GmbH.
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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.
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