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- Hydrogen Market Analysis
Hydrogen Market Analysis
Hydrogen Market – Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
- Report code : CMI2759
- Industry : Energy
- To Be Published : Jan 2021
- Pages : N/A
- Format :
The global hydrogen market size is expected to witness potential gains in the future, and register a significant CAGR of 8.74% over the forecast period (2019 - 2027).
Market Overview
Hydrogen is a colorless, odorless, tasteless, and flammable gaseous substance that exists in molecular forms such as water or organic compounds on the earth. It is used in a wide range of application in industries such as petroleum, chemicals, automotive, power generation, nuclear energy, aerospace, telecommunications, food and beverages, and semiconductor. The reforming of natural gas by applying heat is currently the most economical process for producing hydrogen.
Market Taxonomy:
On basis of Production and delivery mode, the global hydrogen market is segmented into:
On basis of End-Use Industry, the global hydrogen market is segmented into:
On basis of Production Process, the global hydrogen market is segmented into:
Market Dynamics
Increasing demand for clean energy is a major factor booting growth of the hydrogen market. Hydrogen is the cleanest form of energy as it does not emit carbon or any residue on combustion. Major economies around the world are focused on mitigating the impact of greenhouse gas emission and carbon footprint on the environment. This in turn is expected to boost use of hydrogen as fuel in the automotive industry. Proton exchange membrane cell uses hydrogen gas and oxygen gas as fuel. These fuel cells only emit water and heat and are therefore convenient as a renewable source of energy.
However, hydrogen is an extremely flammable gas and lacks smell. This makes it challenging to detect leaks. Its low density poses several difficulties in storage and transport. Moreover, in terms of energy production, electrolysis and steam reforming, the two main processes of hydrogen extraction are extremely expensive. These factors are expected to adversely impact the market size over the forecast period.
Market Outlook
Key Players
Major players operating in the global hydrogen market include. Air Liquide, Airgas Inc., Air Products & Chemical Inc., Xebec Adsorption Inc., Hydrogenics Corporation, Avalence LLC, Messer Group GmBH, and H2Scan Corporation.
Key Developments:
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