Hydrogen Market Size, Key Drivers, Growth, Demand, Analysis 2023-2032

As per The Business Research Company's Hydrogen Opportunities And Strategies Market Report 2023. The global hydrogen market reached a value of nearly $13,595.2 million in 2022, having grown at a compound annual growth rate (CAGR) of 9.1% since 2017. The market is expected to grow from $13,595.2 million in 2022 to $29,775.8 million in 2027 at a rate of 17.0%. The market is then expected to grow at a CAGR of 16.8% from 2027 and reach $64,590.1 million in 2032.

Government support is expected to drive the growth of the hydrogen market going forward. The governments of various countries support the oil and gas sector for the geographic expansions. For example, in June 2022, the Dutch government will commit more than €750 million ($807.02 million) to building a nationwide hydrogen network throughout the country. This project is a crucial component of plans for a national network of pipelines linking the hydrogen storage facility in Zuidwending and surrounding nations with the five major industrial districts in the Netherlands, Noord, IJmond, Rijnmond, Zeeland, and Limburg. Wherever practical, existing natural gas pipelines are being used to expand the network.
It is anticipated that recycled natural gas pipelines will make up around 85% of the hydrogen network. In May 2021, the Hungarian government adopted a hydrogen strategy that categorizes hydrogen as both a fuel and a means of energy storage. Hungary's generation of low-carbon energy is rising quickly, with its current solar capacity of 2600 MW (megawatts) now exceeding that of the Paks Nuclear Power Plant's 2000 MW. Therefore, government support is expected to contribute to the hydrogen market expansion.

View Complete Report @
https://www.thebusinessresearchcompany.com/report/hydrogen-market

Companies in the hydrogen market are increasingly focusing on hydrogen production using sewage wastewater or sewage sludge for use in the chemicals, fertilizers, transportation, and manufacturing industries. In this process, the weight of the sewage sludge is reduced through dehydration followed by incineration, melting, composting, and drying. This process is used to produce hydrogen on a large scale for supply to the manufacturing and transportation industries. For example, in August 2022, Fukuoka City and Saibu Gas (a Japanese gas company) announced the establishment of a council aimed at popularizing the use of hydrogen produced from sewage treatment-generated biogas. Fukuoka will be the first city in Japan to commercialize hydrogen fuel made from treating sewage for use in fuel cell vehicles (FCVs). Further, in March 2021, Researchers from Coventry University are collaborating with Severn Trent and the Organics Group to turn sewage waste into a clean fuel for tankers and other vehicles. This project will look to capture waste ammonia from Severn Trent's sewage treatment facility and turn it into a valuable green fuel. Severn Trent currently destroys the waste ammonia present in sewage due to its toxic properties, but this program of work could see it captured and converted into hydrogen.

Opportunities -The top opportunities in the hydrogen market segmented by mode of distribution will arise in the high-pressure tube trailer segment, which will gain $9,621.7 million of global annual sales by 2027. The top opportunities in segment by application will arise in the refinery segment, which will gain $8,200.7 million of global annual sales by 2027. The top opportunities in segment by end user will arise in the refining segment, which will gain $8,200.7 million of global annual sales by 2027. The hydrogen market size will gain the most in China at $5,115.4 million.
Hydrogen Market Segmentation:
The Hydrogen market is segmented

By Mode Of Distribution - The hydrogen market is segmented by mode of distribution into
a) Pipeline
b) High-Pressure Tube Trailers
c) Cylinders

By Application- The hydrogen market is segmented by application into
a) Chemical
b) Refinery
c) Metal Processing
d) Other Applications

By End User - The hydrogen market is segmented by end user into
a) Chemicals
b) Aerospace And Automotive
c) Energy
d) Refining
e) Glass
f) Welding And Metal Fabrication
g) Other End Users

Major players in the Hydrogen market include The Linde Group, Air Liquide, Air Products and, Chemicals Inc , Taiyo Nippon Sanso Corporation, Air Water Inc.

The regions covered in the global Hydrogen market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Download FREE SAMPLE Report -
https://www.thebusinessresearchcompany.com/sample_request?id=4062&type=smp

The latest report from The Business Research Company, 'Global Hydrogen Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Get to know us better:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/

Hydrogen Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
…………………………………………..
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Hydrogen Market, Conclusions And Recommendations
23. Appendix

PURCHASE the report @
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=4062

This release was published on openPR.