Press release
Blue Hydrogen Market to be Worth $29.4 Billion by 2030
[Redding, California - Jan 26, 2024] - Meticulous Research®, a renowned global market research company, has unveiled its latest comprehensive research report titled, 'Blue Hydrogen Market by Generation Process (Steam Methane Reforming, Autothermal Reforming), Energy Source (Coal, Methane), Application (Fueling, Feedstock), End User (Transportation, Chemical Production), and Geography - Global Forecast to 2030.'Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5695
In a groundbreaking revelation, Meticulous Research® forecasts the blue hydrogen market to attain a valuation of $29.4 billion by 2030, showcasing a notable Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period. The surge in market value is primarily fueled by the escalating demand for blue hydrogen in chemical production and the noteworthy governmental initiatives aimed at decarbonizing the chemical production sector. However, the market growth is constrained by energy losses during blue hydrogen production. Despite this challenge, the burgeoning development of blue hydrogen production technologies is poised to unlock significant growth opportunities, albeit with the ongoing challenge of integrating blue hydrogen into natural gas networks. A striking trend in the market is the increasing adoption of Carbon Capture Utilization and Storage (CCUS) technology.
The meticulously segmented blue hydrogen market covers generation processes such as steam methane reforming, autothermal reforming, gasification, and partial oxidation, as well as energy sources including coal, methane, and water. The application spectrum spans fueling, feedstock, and other applications, while end users encompass chemical production, transportation, power generation, manufacturing, and other industries. This thorough analysis extends to the evaluation of industry competitors and an in-depth examination of the market at both regional and country levels.
In the realm of generation processes, the steam methane reforming segment is anticipated to dominate the market in 2023, driven by the increasing adoption of pure hydrogen in applications like e-mobility, chemical production, and power generation. Conversely, the gasification segment is projected to exhibit the highest CAGR during the forecast period, owing to its cost-effectiveness and rising demand for low-carbon hydrogen as an industrial fuel source.
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Within the energy source segmentation, methane is expected to hold the largest market share in 2023, attributed to the abundant feedstock availability for blue hydrogen production and its extensive use in steam methane reforming and autothermal reforming. Simultaneously, the methane segment is projected to register the highest CAGR during the forecast period.
In terms of application, the feedstock segment is anticipated to command the largest market share in 2023, driven by the increasing adoption of blue hydrogen in chemical production and government initiatives promoting its zero-carbon footprint. The fueling segment, however, is poised to witness the highest CAGR, fueled by the rising adoption of blue hydrogen for its enhanced efficiency and cleaner combustion.
Examining end-user categories, chemical production is expected to hold the largest market share in 2023, owing to the increasing adoption of blue hydrogen for net-zero emission objectives and its use in producing sustainable methanol and ammonia. Conversely, the transportation segment is forecasted to exhibit the highest CAGR, driven by the rising demand for blue hydrogen to curtail carbon emissions and its adoption across various transportation applications.
Geographically, the Asia-Pacific region is projected to lead the blue hydrogen market in 2023, driven by the increasing adoption of clean energy solutions in power generation and transportation. This dominance is further underlined by robust government initiatives, investments in blue hydrogen production to reduce emissions, ongoing investment and funding programs for clean fuel adoption, and the region's ability to construct large-scale infrastructure for blue hydrogen storage. Asia-Pacific is also expected to register the highest CAGR during the forecast period.
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Key Players:
The blue hydrogen market is characterized by the prominent presence of key players including Matheson Tri-Gas, Inc., Shell plc, Linde GmbH, L'AIR LIQUIDE S.A., Air Products and Chemicals Inc., Uniper SE, ATCO Ltd., Suncor Energy Inc., Equinor ASA, Saudi Arabian Oil Company, Aker Solutions ASA, Topsoe A/S, Technip Energies N.V, Ivys Adsorption Inc., and Woodside Energy Group Limited.
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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