The Global Hydrogen Market Report by The Business Research Company covers hydrogen market drivers and restraints, hydrogen market size, major players, and the impact of COVID-19 on the hydrogen market.
The hydrogen market consists of the sales of hydrogen by entities (organizations, sole traders or partnerships) that manufacture hydrogen in compressed, liquid or solid forms. Hydrogen is an active agent in oil refineries and an important ingredient in a range of other industries including chemical production, metal processing and refining. Only goods and services traded between entities or sold to end consumers are included.
The global hydrogen market reached a value of nearly $9,800.4 million in 2020, having increased at a compound annual growth rate (CAGR) of 3.45% since 2015. The market is expected to grow from $9,800.4 million in 2020 to $ 12,172.6 million in 2025 at a rate of 4.43%. The growth is mainly due to the growing demand from energy, oil and gas end user industries which is expected to drive the demand for hydrogen. The market is expected to grow from $ 12,172.6 million in 2025 to $ 15,010.9 million in 2030 at a CAGR of 4.28%.
Increasing demand for chemicals including fertilizers, and other bulk chemicals, intermediates, and specialty chemicals that require hydrogen as one of the feedstock materials contributed to the growth of the global hydrogen market. Hydrogen is used in the manufacturing of ammonia, methanol, and other chemicals such as cyclohexane, aniline, hydrochloric acid, and others. It is extracted from natural gas and then combined with nitrogen gas to make fertilizers such as ammonia which is used to maximize crop growth. Thus, high demand for chemicals boosted the growth of the hydrogen market.
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Some hydrogen market trends include investment in the production of green hydrogen. Green hydrogen is produced by using electric current to breakwater, H2O, into its component elements of hydrogen and oxygen without any harmful emissions. Moreover, companies involved in the hydrogen market are implementing smart meters to monitor the flow of the gas. The small size and high speed of hydrogen molecules make the monitoring of gas difficult. Smart meters use ultrasonic functionality instead of traditional mechanical diaphragms to correctly determine the flow rate of hydrogen gas.
Global hydrogen market segments include:
1) By Mode of Distribution: Pipeline, High-Pressure Tube Trailers, Cylinders
2) By End Use: Chemicals, Aerospace and Automotive, Energy, Refining, Glass, Welding and Metal Fabrication, Others
3) By Application: Chemical, Refinery, Metal Processing, Others
4) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Hydrogen Global Market Report 2021: COVID-19 Impact and Recovery To 2030 is one of a series of new reports from The Business Research Company that provides hydrogen market overviews, analyzes and forecasts market size, share, hydrogen market players, hydrogen market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The hydrogen identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Hydrogen Global Market Report 2021: COVID-19 Impact and Recovery To 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: Air Products and Chemicals, Inc., The Linde Group, L’Air Liquide S.A, Taiyo Nippon Sanso Corp., Air Water Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Hydrogen Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Hydrogen Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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