Press release
Blue Hydrogen Market to reach USD 2.68 Bn by 2029, Technological Advancements and Growth Opportunities
Blue Hydrogen Market
Blue Hydrogen Market Report Scope and Research Methodology
Blue hydrogen is hydrogen produced from natural gas through a process called steam methane reforming (SMR). Blue hydrogen is considered CO2-neutral if carbon dioxide emissions are captured and stored underground during production. The report highlights the increasing use of blue hydrogen in fuel cell vehicles and the chemical market as major market drivers.
The report notes that the COVID-19 pandemic has adversely affected the hydrogen industry, including the blue hydrogen market, due to strict blockade restrictions in major countries. However, governments in various countries have relaxed blockade restrictions, leading to an increase in the manufacturing process and an expected increase in the demand for hydrogen in industrial applications. This trend is expected to continue during the forecast period.
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Blue Hydrogen Market Dynamics
One of the key drivers of the blue hydrogen market is the increased use of hydrogen in fuel cell vehicles as an alternative to fossil fuels. The fuel cell vehicles market is expected to grow at a CAGR of 66.9 percent during the forecast period. In addition, governments in various countries around the world are promoting the use of fuel cell vehicles to reduce greenhouse gas emissions and are providing subsidies and tax incentives to encourage infrastructure development.
The chemical industry is another important end-user of hydrogen, with over two-thirds of the world's hydrogen production being used primarily in the chemical market for the synthesis of ammonia and methanol. The ammonia market and methanol market are expected to grow at a CAGR of 2.15 percent during the forecast period.
However, the presence of greenhouse gas methane in natural gas used to produce blue hydrogen is a major impediment to profit growth in the market, as methane leaks during production contribute to global warming. Burning natural gas to produce the large amount of energy needed to produce blue hydrogen also generates carbon dioxide emissions and limits revenue growth.
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Blue Hydrogen Market Regional Insights
Geographically, the Europe region is dominating the market, with a 32.8 percent share, due to the region's imposition of projects and rules to reduce greenhouse gas emissions. The Asia Pacific region is expected to witness significant growth due to rising industrialization and the adoption of hydrogen in the energy and transportation sectors.
Blue Hydrogen Market Segmentation
By Technology:
• Steam Methane Reforming
• Gas Partial Oxidation
• Auto Thermal Reforming
By End User:
• Chemical
• Refinery
• Power Generation
• Others
By Industry:
• Ammonia
• Methanol
• Others
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Blue Hydrogen Market Key Competitors include:
• Royal Dutch Shell PLC
• Linde PlC
• Air Product Plc
• Cummins Inc
• Siemens Energy
• Toshiba Energy System and Solution Corp.
• Equinor ASA
• CertifHy Canada Inc
• Xebec Adsorption Inc
• Uniper SE
• MVV Energy AG
• Lion Energy SA
• Kebaili Corp.
• Hythane LLC
• Hydrogain Techonology Inc
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Table of Content for Blue Hydrogen Market
Global Blue Hydrogen Market: Research Methodology
Global Blue Hydrogen Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Blue Hydrogen Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Blue Hydrogen Market Segmentation
Global Market, by Technology (2021-2029)
Global Market, by End User (2021-2029)
Global Market, by Industry (2021-2029)
Regional Blue Hydrogen Market (2021-2029)
Regional Market, by Technology (2021-2029)
Regional Market, by End User (2021-2029)
Regional Market, by Industry (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
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https://www.maximizemarketresearch.com/market-report/blue-hydrogen-market/148514/
Key Types:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Technology, End User and Industry
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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