Blue Hydrogen Market Is Projected To Reach USD 12.2 Billion By 2032 | Air Liquide S.A. , Linde plc , Air Products and Chemicals

The global blue hydrogen market size was valued at $1.2 billion in 2022, and blue hydrogen industry is projected to reach $12.2 billion by 2032, growing at a CAGR of 26.6% from 2023 to 2032.

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Blue Hydrogen is a type of hydrogen that is produced by extracting the gas from natural gas. The process of extracting the gas is called methane cracking, and it produces a gas that is 99.999% pure hydrogen. The main advantage of blue hydrogen is that it can be produced without emitting any carbon dioxide, making it a very clean and environmentally friendly fuel.

Key Trends

One of the most important is the increasing use of blue hydrogen in the transportation sector. This is because blue hydrogen is a cleaner and more efficient fuel than traditional petrol or diesel.

Another key trend in blue hydrogen technology is the increasing use of blue hydrogen in power generation. This is because blue hydrogen is a cleaner and more efficient fuel than natural gas or coal.

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Finally, another key trend in blue hydrogen technology is the increasing use of blue hydrogen in the chemical industry.

This is because blue hydrogen is a cleaner and more efficient fuel than traditional fossil fuels. It produces far less emissions than these fuels, and so is better for the environment. Additionally, blue hydrogen is much cheaper to produce than traditional fossil fuels, making it a more cost-effective fuel option for these industries.

Key Drivers

The main drivers behind the growth of blue hydrogen are:

Theneed to decarbonize the hydrogen production process
Theabundance of natural gas
Therelatively low cost of natural gas
Thetechnical feasibility of using natural gas to produce hydrogen

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Restraints & Challenges

The blue hydrogen market is still in its early stages of development and there are a number of key challenges that need to be addressed before it can reach its full potential.

One of the biggest challenges is the high cost of blue hydrogen production. The technology required to produce blue hydrogen is still very expensive and this makes it difficult for companies to justify the investment.

Another challenge is the lack of a dedicated infrastructure for blue hydrogen. There are no dedicated pipelines or storage facilities for blue hydrogen, which makes it difficult to transport and store.

Market Segmentation:

Blue Hydrogen Market is segmented into technology, end use and region. Based on technology the market is categorized into Steam Methane Reforming, Autothermal Reforming, Gas Particle Oxidation. On the basis of end use, it is further segmented into Power Generation, Chemical Industries, Petroleum Refinery and Others. Whereas based on region it is divided into North America,Europe,Asia-Pacific and Rest of the World .

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Key Players:

The Blue Hydrogen Market Report includes players such as Air Liquide S.A. (France), Linde plc (Ireland), Air Products and Chemicals, Inc. (U.S), Equinor ASA (Norway), Siemens Energy AG (Germany), Engie SA (France), Mitsubishi Power, Ltd. (Japan), Wood PLC (U.S), ABB Ltd. (Switzerland) and Repsol S.A. (Spain), among others

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This release was published on openPR.