Impact Analysis of Covid-19

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U.S., Europe and Asia Industrial Hydrogen Market- 2017-2027

Hydrogen is a chemical compound with atomic number 1 and is widely used in the production of carbon steels, semiconductors, and special metals. It is used as a reducing agent and carrier gas in the electronic industry. Nowadays it is also used across various industrial applications such as it are used as reducing agent in the metallurgical industry and as a basic building block in the production of ammonia for fertilizers and methanol for the production of polymers. Moreover, in refineries hydrogen is used in the processing of intermediate oil products.

The U.S., Europe and Asia industrial hydrogen market is projected to reach US$ 22.8 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.0% during the forecast period (2019 to 2027).

Drivers

Growing demand for fertilizers owing to the rising need for quality yield due to rising population is expected to augment the market growth of industrial hydrogen. Industrial hydrogen is used in the production of ammonia and ammonia is widely used in the production of fertilizers. Moreover, hydrogen is also used in the electronic, metal fabrication, and pharmaceutical industry and microeconomic growth of these industries is expected to foster the market growth industrial hydrogen in U.S., Europe and Asia.

Increasing application hydrogen across the LED and semiconductor industry where it is used to control the atmosphere in the production of LED and semiconductor is expected to augment the market growth. Growing demand for LED as it is highly efficient and have long operational life compared to incandescent is projected to fuel the demand for hydrogen, which in turn propelling the market growth of hydrogen over the forecast period. Furthermore, the booming electronic industry is also projected to propel the market growth of hydrogen. 

Geographically, U.S. dominated the U.S., Europe and Asia industrial hydrogen market in 2018, reporting 56.4% market share in terms of revenue, followed by Asia-pacific and Europe, respectively.

Figure 1. U.S., Europe and Asia Industrial Hydrogen Market, Revenue Share (%), By Region, 2018

U.S., Europe and Asia Industrial Hydrogen  | Coherent Market Insights

Market Restraints

The production cost of hydrogen is high, as it is mainly produced from natural gas, coal and various hydrocarbons and only a small fraction of hydrogen, in the range of 3-4%, is produced during electrolysis of water because it is relatively more energy-intensive. Moreover, overall production of hydrogen is expensive than conventional production. Therefore, the high cost of the hydrogen is estimated to restrict the market growth of hydrogen over the forecast period.

Use of hydrogen that is produced by electrolysis is limited to energy sectors where renewable energy such as solar or wind is used for producing electricity for electrolyzers. Therefore, the limited application of hydrogen that is produced by the electrolysis process is projected to hinder the market growth of hydrogen.

Market Opportunities

Higher emphasis on enhancing overall process economics owing to the high production costs of electrolytic hydrogen. Many manufacturers are focusing on increasing overall efficiency of the process such as advancements in membrane and catalyst are projected to cut down the overall production cost significantly in the near future. Moreover, rising focus on a technical scale of production i.e. development of high-pressure electrolyzers and overvoltage reduction of the oxygen evolution reaction (OER) in electrolyzers is further projected to offer significant growth opportunities to the market of hydrogen.

Increasing usage of hydrogen as a fuel in rockets since it is highly flammable and efficient is projected to propel the market growth. Hydrogen is enough to offer power to powerful machines such as spaceships and also it is environmentally friendly and much safer choice as compared to other fuel sources which are further propelling the market growth of hydrogen. Moreover, rising demand for hydrogen as a fuel is also attributed to the fact that it is three times as powerful as gasoline and other fossil fuels which is also predicted to foster market growth. 

Figure 2. U.S., Europe and Asia Industrial Hydrogen Market – Opportunity Analysis

U.S., Europe and Asia Industrial Hydrogen  | Coherent Market Insights

Market Trends

An increasing partnership among major players to build a new hydrogen plant in order to meet the rising demand is expected to propel the market growth over the forecast period. For instance, in September 2019, Hyundai and Hydrospider enter into a partnership to build an industrial hydrogen ecosystem. This partnership focused on the promotion of clean transportation in Switzerland and European countries in the near future. Therefore, increasing the expansion of the hydrogen production plant is expected to augment the market growth of hydrogen over the forecast period.

Increasing investment in the production of green hydrogen is expected to augment the market growth of hydrogen over the forecast timeframe. For instance, in October 2019, the Ministry of Education and Research announced the investment of US$ 333 million more into research on green hydrogen and has promised that Germany will become the world’s largest market in hydrogen technologies by 2023. Hence, rising such investment on the promotion of green hydrogen will favor market growth.

Figure 3. U.S., Europe and Asia Industrial Hydrogen Market, Revenue Share (%), By End Use, in 2018

U.S., Europe and Asia Industrial Hydrogen  | Coherent Market Insights

On the basis of end use, in 2018, electronics accounted the largest market share of 22.2% in terms of revenue, followed by glass and metal production, respectively.

Competitive Section:

Key players active in the U.S., Europe, and Asia Industrial Hydrogen market are Air Liquide, Air Products & Chemicals Inc., Praxair Inc., Linde Plc., and Messer Group GmbH

Few Recent Developments

Air Liquide

  • In November 2015, Air Liquide signed an agreement to acquire Airgas, one of the leading suppliers of medical, industrial and specialty gases in the U.S. 
  • In 2015, the company deployed its newly developed Cryocap technology for capturing CO2 released during the production of hydrogen through a natural gas reforming process.

Air Products and Chemicals Inc.

  • In July 2016, the company set up a new world-scale hydrogen production facility in Ft. Saskatchewan, Canada

Hydrogen is a chemical which can be obtained through various chemical reactions such as electrolysis of water, reforming of steam, reaction of metal & acid, thermochemical reaction and others. It is highly combustible in nature and occurs in different forms such as gaseous, liquid, solid and metallic. Owing to these properties, hydrogen is widely used in industries for various applications.

Market Dynamics

The U.S., Europe and Asia industrial hydrogen market has witnessed a growth in recent few years, owing to the rising demand for industrial hydrogen in Asia. The surge in number of companies involved in glass and electronics industry in the region is major driving factor for the increased demand of hydrogen and is anticipated to propel the market growth in forthcoming years.

On the basis of end use, the U.S., Europe and Asia industrial hydrogen market is segmented into electronics, chemicals, food & beverages, pharmaceutical & biotechnology, metal production, glass and others. The electronic segment accounts a substantial market share in terms of revenue, as it extensively used for manufacturing of semiconductors, LEDs, display and others.

Key features of the study:

  • This report provides in-depth analysis of U.S., Europe and Asia industrial hydrogen market size (US$ Billion and Kilo Tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the U.S., Europe and Asia industrial hydrogen market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes Air Liquide, Air Products & Chemicals Inc., Praxair Inc., Linde Plc., and Messer Group GmbH
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The U.S., Europe and Asia industrial hydrogen market report caters to various stakeholders in this industry including investors, suppliers, U.S., Europe and Asia industrial hydrogen manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the U.S., Europe and Asia industrial hydrogen market

Detailed Segmentation:

  • U.S., Europe and Asia Industrial Hydrogen Market, By Production Method:
    • Electrolysis
    • Conventional Method & Others
  • U.S., Europe and Asia Industrial Hydrogen Market, By End Use:
    • Chemicals
    • Electronics
    • Food & Beverage
    • Glass
    • Metal Production
    • Pharmaceutical & Biotechnology
    • Welding & Metal Production
    • Others
  • U.S., Europe and Asia Industrial Hydrogen Market, By Region:
    • U.S.
      • By Production Method
        • Electrolysis
        • Conventional Method & Others
      • By End Use
        • Chemicals
        • Electronics
        • Food & Beverage
        • Glass
        • Metal Production
        • Pharmaceutical & Biotechnology
        • Welding & Metal Production
        • Others
    • Europe
      • U.K.
        • By Production Method
          • Electrolysis
          • Conventional Method & Others
        • By End Use
          • Chemicals
          • Electronics
          • Food & Beverage
          • Glass
          • Metal Production
          • Pharmaceutical & Biotechnology
          • Welding & Metal Production
          • Others
      • Germany
        • By Production Method
          • Electrolysis
          • Conventional Method & Others
        • By End Use
          • Chemicals
          • Electronics
          • Food & Beverage
          • Glass
          • Metal Production
          • Pharmaceutical & Biotechnology
          • Welding & Metal Production
          • Others
    • Asia
      • Japan
        • By Production Method
          • Electrolysis
          • Conventional Method & Others
        • By End Use
          • Chemicals
          • Electronics
          • Food & Beverage
          • Glass
          • Metal Production
          • Pharmaceutical & Biotechnology
          • Welding & Metal Production
          • Others
      • South Korea
        • By Production Method
          • Electrolysis
          • Conventional Method & Others
        • By End Use
          • Chemicals
          • Electronics
          • Food & Beverage
          • Glass
          • Metal Production
          • Pharmaceutical & Biotechnology
          • Welding & Metal Production
          • Others
  • Company Profiles
    • Suja Life, LLC
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Air Liquide
    • Air Products & Chemicals Inc.
    • Praxair Inc.
    • Linde Plc.
    • Messer Group GmbH

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Production Method
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. U.S., Europe and Asia Industrial Hydrogen Market, By Production Method, 2017 - 2027 (US$ Billion and Kilo Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Electrolysis
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Conventional Method & Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
  5. U.S., Europe and Asia Industrial Hydrogen Market, By Application, 2017 - 2027 (US$ Billion and Kilo Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Chemicals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Electronics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Food & Beverage
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Glass
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Metal Production
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Pharmaceutical & Biotechnology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Welding & Metal Production
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Kilo Tons)
  6. U.S., Europe and Asia Industrial Hydrogen Market, By Region, 2017- 2027 (US$ Billion and Kilo Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • U.S.
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
      • Market Size and Forecast, By Production Method, 2017- 2027 (US$ Billion and Kilo Tons)
      • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Kilo Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Production Method, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Kilo Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Production Method, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Kilo Tons)
    • Asia
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Japan
          • Country Trends
          • Market Size and Forecast, By Production Method, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Kilo Tons)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Production Method, 2017- 2027 (US$ Billion and Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Kilo Tons)
  7. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Air Liquide
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Air Products & Chemicals Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Praxair Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Linde Plc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Messer Group GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 35 market data tables* and 25 figures* on "U.S., Europe and Asia Industrial Hydrogen Market” – forecast to 2027

Frequently Asked Questions

The U.S., Europe and Asia industrial hydrogen market is estimated to reach US$ 22.8 billion by the end of 2027, in terms of revenue.
Major players operating in the U.S., Europe and Asia industrial hydrogen market include Air Liquide, Air Products & Chemicals Inc., Praxair Inc., Linde Plc., and Messer Group GmbH.
High production cost of hydrogen is one of the major factors that is expected to hamper growth of the market over the forecast period.
The increasing application of hydrogen across the LED and semiconductor industry is one of the major factors that is expected to propel growth of the market over the forecast period.
The U.S., Europe and Asia industrial hydrogen market is estimated to exhibit a CAGR of 5.0% over the forecast period (2019-2027).
The U.S. held a dominant position in the U.S., Europe and Asia industrial hydrogen market in 2018, accounting for 56.4% market share in terms of revenue, followed by Asia Pacific and Europe, respectively.
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