Press release
Industrial Hydrogen Market Reflecting a CAGR of 4.9% During 2016–2024
Report overview @ https://www.persistencemarketresearch.com/market-research/industrial-hydrogen-market.asp
Hydrogen is touted as the clean fuel of the future and finds application in various industries including chemical, electronics, glass, metal production, pharma and biotech, and welding and metal fabrication. Increasing demand from various end-use industries such as electronics, glass, metal production, welding, and metal fabrication is anticipated to boost growth of the industrial hydrogen market over the forecast period. Preference for onsite hydrogen generation systems and increasing technological advancements that promote reduction in the overall hydrogen production cost by electrolysis of water are other factors likely to push the demand for industrial hydrogen through 2024. However, a high cost of hydrogen production by electrolysis of water as compared to other conventional methods of production is likely to pose a challenge for the sustained growth of the electrolytic hydrogen market.
Global hydrogen production – both captive and merchant – is estimated to be pegged at 57.5 Mn metric tons by the end of 2016. Globally, 4% of total hydrogen is produced by electrolysis of water. The Electrolysis segment in the industrial hydrogen market is estimated to expand at a higher CAGR compared to the Conventional & Others segment. Technological advancements leading to reduced cost of production are expected to support growth of this segment over the forecast period. The Conventional & Others segment is expected to hold a disproportionately large market value share in the industrial hydrogen market throughout the forecast period. This segment is expected to hold 92.5% value share by the end of 2024, representing a sales revenue of US$ 18.3 Bn.
Request to sample report https://www.persistencemarketresearch.com/samples/11812
By application, the Electronics segment is estimated to expand at the fastest CAGR over the forecast period; macroeconomic growth of the electronics industry is expected to be the major factor driving demand and fueling growth of the industrial hydrogen market over the forecast period. Also, an increasing use of hydrogen as a carrier gas in the manufacture of LED and semi-conductors is expected to drive growth of this segment. The Electronics segment is likely to dominate the industrial hydrogen market with 22.0% market share, valued at US$ 2.98 Bn by the end of 2016. In terms of value CAGR, the Electronics segment is estimated to be followed by the Metal Production and the Pharmaceuticals & Biotechnology segments respectively.
Get Full Report now https://www.persistencemarketresearch.com/checkout/11812
In terms of region, the U.S market emerged as the dominant market in 2016 with over 50% market share owing to a high demand for hydrogen from across various end-use industries. This market is estimated to expand at a higher CAGR than that of Europe and Asia over the forecast period.
About Us
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
Contact
Persistence Market Research Pvt. Ltd
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
media@persistencemarketresearch.com
Web:www.persistencemarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Industrial Hydrogen Market Reflecting a CAGR of 4.9% During 2016–2024 here
News-ID: 873177 • Views: …
More Releases from Persistence Market Research
Artificial Intelligence as a Service Market Forecasted to Grow at 34.6% CAGR, Re …
The Artificial Intelligence as a Service (AIaaS) market has emerged as one of the most transformative segments in the global technology ecosystem. By providing AI capabilities on a subscription or pay-per-use model, AIaaS allows organizations to deploy advanced AI functionalities without the need for significant in-house infrastructure. This model has democratized access to AI, enabling small and medium-sized enterprises to leverage predictive analytics, natural language processing, and machine learning tools…
Server Operating System Market Anticipated to Witness Robust Growth, Reaching US …
The server operating system market is witnessing robust growth, driven by the rapid expansion of data centers and the surging adoption of cloud technologies across enterprises worldwide. Server operating systems form the backbone of modern IT infrastructure, enabling organizations to efficiently manage hardware resources, deploy applications, and maintain high levels of system reliability and security. As businesses increasingly migrate to cloud environments and data-intensive operations grow, demand for powerful, scalable,…
Manufacturing Operations Management Software Industry Anticipated to Witness Rap …
The Manufacturing Operations Management (MOM) software market is rapidly emerging as a cornerstone of digital transformation in the manufacturing sector. As industries increasingly adopt Industry 4.0 practices, the need for advanced solutions that integrate production planning, real-time monitoring, quality control, and process optimization has surged. MOM software enables manufacturers to streamline operations, reduce production downtime, and improve overall efficiency, making it an indispensable tool across automotive, pharmaceutical, aerospace, and consumer…
G.Fast Chipset Market Forecast to Expand with Absolute $ Growth of USD 28.3 Bill …
The G.Fast chipset market has emerged as a pivotal segment within the broadband and telecommunication infrastructure industry, driven by the rising demand for high-speed internet and improved last-mile connectivity solutions. With advancements in fiber-to-the-distribution-point (FTTdp) networks, the adoption of G.Fast chipsets has witnessed unprecedented growth across residential, commercial, and industrial applications. These chipsets enable ultra-fast broadband speeds over existing copper lines, bridging the performance gap between fiber and legacy infrastructures,…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
[CAGR of 5.5%] Silica Flour Market Size, CAGR, Competitive Analysis and Forecast …
The global silica flour industry generated $520.0 million in 2021, and is estimated to reach $876.3 million by 2031, witnessing a CAGR of 5.5% from 2022 to 2031.
Allied Market Research published a report, titled, "Silica Flour Market by Type (Quartz, Cristobalite), by Application (Fiberglass, Glass and Clay, Oil Well Cement, Ceramic and Refractory, Foundry, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report offers a detailed analysis…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Call Center AI Market Latest, CAGR, Volume and Value 2022-2030 | (CAGR) of 25%
New York , United States- Report Ocean published the latest research report on the Call Center AI market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Call Center AI market study demonstrates a detailed examination of the business state, which represents creative ways for company growth,…
