Press release
Rising Demand For High-Grade Industrial Gases In Healthcare Innovations: An Emerging Driver Transforming The Hydrogen Market Landscape
Hydrogen
What Is the Projected Growth of the Hydrogen Market?
In recent times, there has been a quick escalation in the size of the hydrogen market. The market, which was valued at $18.92 billion in 2024, is projected to expand to $22.38 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 18.2%. This significant growth during the historic period can be ascribed to robust economic expansion in newly developing markets, heightened need from the chemical industry, and the widespread use of hydrogen fuel cell vehicles.
The projected size of the hydrogen market is set to experience a significant expansion in the forthcoming years, reaching $40.39 billion by 2029 with a compound annual growth rate (CAGR) of 15.9%. The anticipated growth within this period can be credited to governmental backing, escalating demands from both the energy sector and the oil and gas industry. Key trends for this same period are expected to comprise hydrogen production derived from sewage waste, strategic alliances and partnerships, an influx of investments into green hydrogen, IoT (internet of things) technology integration by hydrogen producers, utilization of smart meters, and tailored air separation plants.
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What Are the Different Hydrogen Market Segments?
The hydrogen market covered in this report is segmented -
1) By Mode Of Distribution: Pipeline, High-Pressure Tube Trailers, Cylinders
2) By Application: Chemical, Refinery, Metal Processing, Other Applications
3) By End User: Chemicals, Aerospace And Automotive, Energy, Refining, Glass, Welding And Metal Fabrication, Other End Users
Subsegments:
1) By Pipeline: Hydrogen Pipeline Networks For Large-Scale Distribution, On-Site Hydrogen Generation And Pipeline Delivery
2) By High-Pressure Tube Trailers: Compressed Hydrogen In Tube Trailers For Transport, Bulk Hydrogen Delivery Via Trailers
3) By Cylinders: Small-Scale Hydrogen Cylinders, Portable Hydrogen Storage For Industrial And Commercial Use
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What Are the Primary Drivers Shaping the Hydrogen Market?
The healthcare industry is experiencing fresh advancements, where much emphasis is placed on not just treatment, but also the enhancement of overall health and quality of life. Industrial gases, particularly hydrogen, are being processed for utilization in pharmaceutical manufacturing. Health institutions including St. Francis and VA Loma Linda have taken the initiative to incorporate hydrogen plants for the process of power generation. The integration of Induced Pluripotent Stem cells (IPS) in the creation of treatments and drugs is poised to add new value to the healthcare sector through the implementation of systems that utilize gases. Such systems are crucial for the growth and maintenance of cells and tissues, subsequently contributing to an increasing demand for high-quality industrial gases.
Which Companies Are Leading in the Hydrogen Market?
Major companies operating in the hydrogen market include The Linde Group, Air Liquide, Air Products and Chemicals Inc, Taiyo Nippon Sanso Corporation, Air Water Inc., Iwatani Corporation, Gulf Cryo, NGK Spark Plug Co, Ltd., Twin Turbines Energy, Showa Denko K.K., Oxair, WIKA Alexander Wiegand SE & Co. KG, Ellenbarie, Praxair Inc, Air Products and Chemicals Market Size, Inc., Natural Hydrogen Energy Ltd., Core Industrial Gases, Uniper, Lind Gas Plc, AMCS Corporation, Hydrogenics, Inox, ZTEK Corporation, Engie, APT spol. S r.o., Grupa Lotos SA, Gdansk-based refiner, Gazprom, SOL Group, Supagas, Bloom Energy Corporation, Shell plc, Chevron Corporation, Eco Energy International, Yingde Gas Group Co., Ltd., Nuvera Fuel Cells, LLC, Plug Power, Rosatom, Messer Group, H2Pro, Masdar, GASAL Q.S.C., Buzwair Holding, Afrox
What Trends Are Expected to Dominate the Hydrogen Market in the Next 5 Years?
Firms involved in hydrogen production have embraced the innovative approach of generating hydrogen from wastewater. The creation of hydrogen gas from sewage sludge has potential applications in numerous sectors including chemicals, fertilizers, transportation, and manufacturing. The process involves reducing the mass of the sewage sludge through dehydration, followed by incineration, melting, composting, and finally drying. This methodology can facilitate the large-scale production of hydrogen for supplying to the manufacturing and transportation sectors. Corporations like Fuel Cell Energy and Graforce Hydro are making investments in this promising field. Notably, Los Angeles Fuel Cell Energy Inc., a hydrogen manufacturer, operates the world's largest 'tri-generation plant', which transforms sewage into electric power and renewably sourced hydrogen for use as a transportation fuel.
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What Are the Top Revenue-Generating Geographies in the Hydrogen Market?
Asia-Pacific was the largest region in the hydrogen market in 2024. North America was the second-largest region in the global hydrogen market. The regions covered in the hydrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hydrogen Market?
2. What is the CAGR expected in the Hydrogen Market?
3. What Are the Key Innovations Transforming the Hydrogen Industry?
4. Which Region Is Leading the Hydrogen Market?
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