Hydrogen Global Market Opportunities and Strategies to 2030
DUBLIN, April 8, 2022 -- The "Hydrogen Global Market Opportunities And Strategies To 2030, By Mode Of Distribution, End-User, Application" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists; marketers and senior management with the critical information they need to assess the global hydrogen market as it emerges from the COVID 19 shut down.
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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 3.5% since 2015. The market is expected to grow from $9,800.4 billion in 2020 to $ 12,172.6 million in 2025 at a rate of 4.4%. 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 billion in 2025 to $ 15,010.9 million in 2030 at a CAGR of 4.3%.
Growth in the historic period resulted from the growth in the chemical industries and economic growth in emerging markets. This growth was restricted by the concerns regarding safety, changing regulations, rising operating cost.
Going forward, growing economies, growing demand from energy, oil and gas end user industries and, increase in mergers and acquisitions of players in the industrial gas are expected to drive the market. High capital cost, reduction in free trade and impact of COVID-19 are major factors that could hinder the growth of the hydrogen market in the future.
The hydrogen market is segmented by mode of distribution into pipeline, high-pressure tube trailers and, cylinders. The cylinders was the largest segment of the hydrogen market by mode of distribution, accounting for 56.0% of the total market in 2020. Going forward, high-pressure tube trailers is expected to be the fastest growing segment in the hydrogen market, at a CAGR of 4.9%.
The hydrogen market is also segmented by application into chemical, refinery, metal processing and others. The refinery market was the largest segment of the hydrogen market segmented by application, accounting for 52.4% of the total in 2020. Going forward, the others segment is expected to be the fastest growing segment in the hydrogen market, at a CAGR of 6.3%.
The hydrogen market is also segmented by end-user into chemicals, refining, aerospace and automotive, energy, glass, welding and metal fabrication and others. The refining market was the largest segment of the hydrogen market segmented by end use, accounting for 52.4% of the total in 2020. Going forward, the refining segment is also expected to be the fastest growing segment in the hydrogen market, at a CAGR of 4.7% during 2020-2025.
Asia Pacific was the largest region in the hydrogen market, accounting for 40.2% of the total in 2020. It was followed by the, Western Europe, North America and, then the other regions. Going forward, the fastest-growing regions in the hydrogen market will be South America and Middle East, where growth will be at CAGRs of 9.5% and 7.8% respectively. These will be followed by Africa and Asia Pacific, where the markets are expected to register CAGRs of 6.1% and 5.3% respectively.
The hydrogen market is concentrated, with a small number of large players in the market. The top ten competitors in the market made up to 60% of the total market in 2020. Major players in the market include Air Products and Chemicals, Inc, The Linde Group, Air Liquide S.A, Taiyo Nippon Sanso Corp and Air Water Inc.
The top opportunities in the hydrogen market segmented by distribution mode will arise in the cylinders segment, which will gain $1,367.6 million of global annual sales by 2025. The top opportunities in the hydrogen market segmented by end-use will arise in the refining segment, which will gain $1,323.8 million of global annual sales by 2025. The top opportunities in the hydrogen market segmented by application will arise in the refinery segment, which will gain $1,323.8 million of global annual sales by 2025. The hydrogen' market size will gain the most in the China at $603.3 million.
Market-trend-based strategies for the hydrogen market include increasing investments in promoting green hydrogen, production of hydrogen from sewage waste, and developing customized air separation plants. Companies should also look at adopting the use of Internet of Things (IoT). Player-adopted strategies in the hydrogen market includes acquiring emerging technological companies, expanding brand portfolios through new product launches and expanding business operations in other regions.
To take advantage of these opportunities, the publisher recommends the hydrogen manufacturing companies to consider IoT technology in hydrogen manufacturing and focus customized air separation plants to improve quality and achieve optimum production, establishing operations in emerging markets to gain market share, scale up through mergers and acquisition, focus on offering competitive pricing , increase visibility through websites and focus on new application industries among other strategies.
Key Topics Covered:
1. Hydrogen Market Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6.1. Segmentation By Geography
6.2. Segmentation By Mode Of Distribution
6.3. Segmentation By End-User
6.4. Segmentation By Application
7. Hydrogen Market Characteristics
7.1. Market Definition
7.1.1. Hydrogen Production And Storage
7.2. Market Segmentation By Mode Of Distribution
7.2.2. High Pressure Tube Trailers
7.3. Market Segmentation By End-User
7.3.3. Aerospace And Automotive
7.3.5. Glass, Welding And Metal Fabrication
7.4. Market Segmentation By Application
7.4.3. Metal Processing
8. Hydrogen Market Trends and Strategies
8.1. Increasing Investments In Green Hydrogen
8.2. Use Of Smart Meters
8.3. Hydrogen Production From Sewage Waste
8.4. Increase In Acquisition Activity Among Hydrogen Market Players
8.5. Customized Air Separation Plants
8.6. Hydrogen Manufacturers Adopting IoT Technology
9. COVID Impact On The Hydrogen Market
9.1. Impact On The Hydrogen Market In North America
9.2. Ongoing Investments For Hydrogen Projects By The EU
9.3. Growing Oxygen Demand Negatively Impacting Hydrogen Market
9.4. Market Normality
10. Global Hydrogen Market Size And Growth
10.1. Market Size
10.2. Historic Market Growth, 2015 - 2020, Value ($ Million)
10.2.1. Drivers Of The Market 2015 - 2020
10.2.2. Restraints Of The Market 2015 - 2020
10.3. Forecast Market Growth, 2020 - 2025, 2030F, Value ($ Million)
10.3.1. Drivers Of The Market 2020 - 2025
10.3.2. Restraints Of The Market 2020 - 2025
11. Global Hydrogen Market Segmentation
11.1. Global Hydrogen Market, Segmentation By Distribution, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.2. Global Hydrogen Market, Segmentation By End Use, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.3. Global Hydrogen Market, Segmentation By Application, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12. Hydrogen Market, Regional And Country Analysis
12.1. Global Hydrogen Market, By Region, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12.2. Global Hydrogen Market, By Country, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/grgs7b
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