Press release
Blue Hydrogen Market Poised for $55.08 Billion Valuation by 2032
Blue Hydrogen Market
โ The blue hydrogen market size was valued at USD 20.25 billion in 2023.
โ The market is expected to expand at a CAGR of 11.8% from 2024 to 2032.
โ The market is projected to grow to USD 55.08 billion by 2032.
๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
Blue hydrogen is the term used to describe hydrogen produced from natural gas with the help of carbon capture and storage. The CO2 produced during manufacturing is captured and stored underground indefinitely. The outcome is hydrogen with a low carbon content that does not generate any CO2. At the moment, a variety of technologies are being utilized to generate hydrogen, such as steam methane reforming, coal gasification, partial oxidation of oil, and auto-thermal reforming. The majority of hydrogen currently made is utilized in petroleum refineries and the production of fertilizers.
๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.polarismarketresearch.com/industry-analysis/blue-hydrogen-market/request-for-sample
Growth Factors and Opportunities:
The increasing demand for cleaner energy solutions and the significant growth in fuel-cell electric vehicles are fueling the market. The popularity of fuel cell electric vehicles (FCEVs) is rising because of their cheap refueling and maintenance expenses. Moreover, hydrogen production goes through a significant change in a net zero emissions scenario. The use of hydrogen fuel is essential for decreasing greenhouse gas emissions in sectors like heavy industry, heavy-duty transport, shipping, and aviation that are difficult to decarbonize through direct electrification.
Key Participants:
The market is marked by fierce competition, and the leading companies rely on innovative technology, superior goods, and a strong brand identity to boost sales. Some of the major players participating in the blue hydrogen market:
โข Air Liquide
โข Air Products and Chemicals, Inc.
โข Engie
โข Equinor ASA
โข Exxon Mobil Corp.
โข INOX Air Products Ltd.
โข Iwatani Corp.
โข Linde Plc
โข Shell Group of Companies
โข SOL Group
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
https://www.polarismarketresearch.com/buy/1834/2
Market Segmentation:
The blue hydrogen market is mainly segmented based on application, transportation mode, technology, and region. Based on application analysis, in 2023, the power generation segment accounted for the largest revenue share. The lack of greenhouse gas emissions from hydrogen fuel cells is expected to increase the demand for blue hydrogen in power generation, leading to growth in market revenue.
Furthermore, according to the technology mode analysis, the
SMR segment led the global market in 2023. In SMR technology, the carbon dioxide generated is not emitted into the air but instead is captured and stored underground using the Carbon Capture, Utilization, and Storage (CCUS) process.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐ก๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ซ๐:
https://www.polarismarketresearch.com/industry-analysis/blue-hydrogen-market
Lightweight Materials Market Report Highlights
โข The polymers & composites segment in the lightweight materials market is expected to experience substantial growth over the forecast period due to their versatility and advanced properties.
โข The aluminum segment dominated the lightweight materials market in 2023 due to its established use in the automotive and aerospace industries.
โข The automotive segment accounted for a major market share in 2023 due to the increasing demand for fuel-efficient and environmentally friendly vehicles.
โข The aviation segment is expected to witness substantial growth in the coming years owing to the advancements in aerospace technology and an increasing emphasis on fuel efficiency
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Digital Pharmacy Market
https://elektrotransports.lv/lokali/digital-pharmacy-market-industry-brief-analysis-top-leading-players-analysis-and-forecast-to-2032/362812/
Dental Service Organization Market
https://elektrotransports.lv/lokali/dental-service-organization-market-2024-current-status-and-future-prospects-segmentation-strategy-and-forecast-to-2032/362813/
Oxygen Free Copper Market
https://elektrotransports.lv/lokali/oxygen-free-copper-market-size-share-top-vendors-industry-trends-growth-recent-developments-technology-forecast-to-2032/362814/
Hydrogen Peroxide Market
https://elektrotransports.lv/lokali/hydrogen-peroxide-market-size-share-growth-and-demand-forecast-to-2032/362815/
Contact:
Likhil G
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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