Global Hydrogen Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Hydrogen Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global hydrogen market report has been segmented on the basis of distribution, production process, end-use industry, and region.

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Global Hydrogen Market: Overview

Hydrogen is a colorless, odorless, flammable gas combines chemically with oxygen to form water. It uses variety of process technologies such as chemical, electrolytic, biological, photolytic, and thermo-chemical.

Global Hydrogen Market: Dynamics

Increasing demand for hydrogen from chemical industry as there is constant requirement for gas in refineries in hydrocracker unit is a key factor expected to drive growth of the global market over the forecast period.

In addition, government across various countries such as the US, China, and Japan taking initiatives to increase use of hydrogen-based powered cars and growing concerns over fossil fuel-based energy are some other factors expected to further fuel growth of the target market over the forecast period.

Moreover, rising adoption of hydrogen in petroleum industries in order to process crude oil into refined fuels, and to eliminate impurities, such as sulfur is another factor expected to boost growth of the target market over the forecast period.

Furthermore, increasing demand for hydrogen from various end-use industries such as metals, glass industry, semiconductor, and chemical and rising awareness towards reducing carbon footprint are some other factors expected to propel growth of the global market over the forecast period.

However, high production and transportation of gas is a key factor expected to restrain growth of the global market over the forecast period. In addition, storage of gas is another complex issue and it requires spherical bulleted tanks which hampers growth of the target market over the forecast period.

Ongoing trend observed in the target market is increasing investments in research and development activities to develop hydrogen as a fuel, this trend is expected to support growth of the target market over the forecast period.

Rising adoption of hydrogen as a fuel across various industries such as automotive, chemical, etc., and increasing government initiatives towards clean energy along with promotion to use fuel cell electric vehicles (FCEVs) are some other factors expected to create potential revenue opportunities for players operating in the target market over the forecast period.

Global Hydrogen Market: Segment Analysis

Among the distribution segments, the pipeline segment is expected to register significant growth over the forecast period, owing to increasing use of pipelines to deliver large volume of gas from one place to another place.

Among the production process, the steam methane reforming segment is expected to register significant growth over the forecast period, owing to easy and abundant availability of methane.

Among the end-use industry segments, the chemicals industry segment is expected to register significant growth over the forecast period, owing to increasing use of gas as a fuel, especially for production of ammonia and in hydrocracking process.

Global Hydrogen Market: Regional Analysis

The market in Asia Pacific is expected to dominate in the global market in terms of revenue over the forecast period, owing to rising adoption of gas in refineries, and increasing development in hydrogen-based fuel cells across various countries in this region. In addition, manufacturers focus towards developing auto fueling stations across various countries in this region is expected to support growth of the market in this region.

Global Hydrogen Market Segmentation:

Segmentation by distribution:

Pipelines
High-Pressure Tube Trailers
Cylinders

Segmentation by production process:

Steam Methane Reforming
Partial Oxidation
Coal Gasification
Electrolysis of Water

Segmentation by end-use industry:

Chemicals
Aerospace and Automotive
Energy
Refining
Glass
Welding and Metal Fabrication