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Hydrogen Hubs Market Growth Probability, Leading Vendors and Future Scenario By 2024-2031

10-09-2024 09:33 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Hydrogen Hubs Market Growth Probability, Leading Vendors

Hydrogen hubs market is anticipated to grow at a CAGR of 15.2% during the forecast period (2024-2031). The growing adoption of hydrogen hubs in refining and industrial sectors is the key factor supporting the market growth globally. The growth is primarily owing to the rising demand for green hydrogen for mobility in industrial applications in recent years. According to the International Energy Agency (IEA), the global hydrogen demand reached 95 Metric Ton (M) in 2022, almost 3.0% more than in 2021. Apart from this, the need for hydrogen is mainly found in conventional applications of the industrial and refining sectors (such as chemicals and natural gas-based Direct Iron Reduction [DRI]). The market players are also investing heavily in hydrogen hub solutions that further bolsters the market growth. For instance, in June 2022, Air Products and Chemicals, Inc. invested approximately $500 million to build, own, and operate a 35 MT/ day facility to distribute and dispense liquid hydrogen along with producing green liquid hydrogen at a greenfield site in Massena, New York.

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Among the end-users, the hydrogen fuel cell sub-segment is expected to hold a considerable share of the global hydrogen hubs market. The segmental growth is attributed to the increasing adoption of hydrogen fuel cells in commercial vehicles. The increasing awareness of fuel cell bus benefits, such as range, refueling time, operational practices akin to diesel, and scalable infrastructure, is proven by the commercial success of hydrogen-powered fuel cell buses globally. Hence, several organizations are inclined towards investing in hydrogen fuel cells aiming to cater commercial vehicle sector globally. For instance, in November 2023, Ballard Power Systems ordered 62 hydrogen fuel cell engines to power Solaris buses in Europe. The company expects delivery of the majority of the fuel cell engines to occur in 2024.

full report of Hydrogen Hubs Market available @ https://www.omrglobal.com/industry-reports/hydrogen-hubs-market

Market Coverage
Market number available for - 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others

Market Segmentation

Global Hydrogen Hubs Market by Industry

Automotive
Aviation
Marine
Others (Space and Defense)

Global Hydrogen Hubs Market by End-Users

Liquid Hydrogen
Hydrogen Fuel Cell

Company Profiles 

AFC Energy plc
Air Products and Chemicals, Inc.
Ballard Power Systems Inc.
Bloom Energy Corp.
Ceres Power Holdings plc
Cummins Inc.
Doosan Fuel Cell Co., Ltd.
Engie SA
FuelCell Energy, Inc.
Hexagon Purus ASA
ITM Power PLC
McPhy Energy S.A.
Nel ASA
Nikola Corp.
PLUG POWER INC.
PowerCell Sweden AB
Shell plc

The Report Covers

Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global hydrogen hubs market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/hydrogen-hubs-market

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no: +91 780-304-0404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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