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The global hydrogen market is expected to grow from $9.85 billion in 2020 to $10.28 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.79 billion in 2025 at a CAGR of 3%.
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The hydrogen market consists of sales of hydrogen and its related services for industrial and other purposes. Hydrogen is produced as a by-product of industrial chlorine production by electrolysis. Although it requires expensive technologies, hydrogen can be cooled, compressed and purified for use in other processes on site or sold to a customer via pipeline, cylinders or trucks.
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The hydrogen market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the hydrogen market are Praxair, Inc., Air Liquide S.A., Air Products and Chemicals, Inc., INOX Air Products Ltd., Iwatani Corporation, Hydrogenics Corporation, Linde AG, Messer Group GmbH, Nuvera Fuel Cells, Taiyo Nippon Sanso Corporation, Caloric Anlagenbau, Xebec Adsorption, Showa Denko K.K. (SDK), Nel ASA, Plug Power, Ally Hitech Co. Ltd, Gulf Cryo, Teledyne Technologies.
The global hydrogen market is segmented –
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
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The hydrogen market report describes and explains the global hydrogen market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The hydrogen report evaluates the market across each region and for the major economies within each region.
The countries covered in the global hydrogen market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global hydrogen market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Hydrogen Market Characteristics
- Hydrogen Market Product Analysis
- Hydrogen Market Supply Chain
- Key Mergers And Acquisitions In The Hydrogen Market
- Market Background: Machinery Manufacturing Market
- Copyright And Disclaimer
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