Global Hydrogen Market – Industry Trends and Forecast to 2028

Market Analysis and Insights : Global Hydrogen Market

The hydrogen market is expected to witness market growth at a rate of 4.00% in the forecast period of 2021 to 2028 and is expected to reach USD 242.23 billion by 2028. Data Bridge Market Research report on hydrogen market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The growing demand to decarbonize energy end-use is escalating the growth of hydrogen market.

Hydrogen is known to have the ability to reduce the exposure of renewable electricity generators to the risk of power price volatility. The element is taken as reliable alternative for meeting climate goals and compliance with local emission regulations. Hydrogen is being promoted as an energy carrier especially in the developing nations for reducing emissions due to the consumption of hydrocarbon fuels. There is an ongoing development of technologies in both public and private sectors including fuel cells developed for motor vehicles and power generation, safety codes related to hydrogen energy and infrastructure.

The growing pollution levels across the globe and the increasing rate of government regulations to control and curb the sulfur content in fuels are the major factors driving the hydrogen market. The increasing application of hydrogen in various industries, the growth of the petroleum refining industry and hydrogen consumption primarily driven by low sulfur production and cleaner-burning fuels accelerate the hydrogen market growth. The potential replacement of current vehicles by electric vehicles powered by hydrogen fuel cells in the transport, revolutionize in the automotive industry and total de-carbonization requiring multidimensional approach influence the hydrogen market. Additionally, growing emphasis on decarbonizing energy end-use, rising demand in transportation sector and government regulations in desulphurization positively affect the hydrogen market. Furthermore, increasing government support for hydrogen research and development, high demand for hydrogen in building heat and power and development of green hydrogen production technologies extends profitable opportunities to the hydrogen market players in the forecast period of 2021 to 2028.    

On the other hand, lack of capex spending on hydrogen channeling and distribution infrastructure and high energy consumption of hydrogen generation technologies are the factors expected to obstruct the hydrogen market growth. Well established infrastructure for electric cars and the rise in safety concerns over hydrogen are projected to challenge the hydrogen market in the forecast period of 2021 to 2028.  

This hydrogen market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on hydrogen market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Hydrogen Market Scope and Market Size

The hydrogen market is segmented on the basis of systems, technology and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.

• On the basis of systems, the hydrogen market is segmented into merchant and captive.
• On the basis of technology, the hydrogen market is segmented into coal gasification, steam methane reforming and others.
• On the basis of application, the hydrogen market is segmented into methanol production, ammonia production and petroleum refining.

Global Hydrogen Market Country Level Analysis

The hydrogen market is analyzed and market size, volume information is provided by country, systems, technology and application as referenced above.    

The countries covered in the globally hydrogen market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. 

Asia-Pacific dominates the hydrogen market because of the robust economic performance along with large scale investments in research and development, changes in the fuel and petroleum industry, rising air pollution and increasing sulfur content in the environment, presence of a high number of refineries and utilization of hydrogen generation.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Hydrogen Market Share Analysis

The hydrogen market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hydrogen market.

The major players covered in the hydrogen market report are Air Liquide, Air Products Inc., FuelCell Energy, Cummins Inc., Iwatani Corporation, Linde plc, Messer Group, Praxair, SHOWA DENKO K.K., TAIYO NIPPON SANSO CORPORATION, Xebec Communications, ALLY HI-TECH CO., LTD., Ballard Power Systems, CALORIC, CLAIND srl, Erre Due s.p.a., HyGear, NUVERA FUEL CELLS, LLC, ProtonOnsite, Teledyne Technologies Incorporated among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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