Hydrogen Market

Global Hydrogen Market by Sources (Blue Hydrogen, Green Hydrogen, and Grey Hydrogen), Delivery & Generation Modes (Merchant and Captive), Applications (Transport, Petroleum Refinery, Ammonia Production, Methanol Production, Power Generation, and Others), Technologies (Steam Methane Reforming, Partial Oxidation, Coal Gasification, and Electrolysis), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: MC-4418
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 176
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  • Pub. Date: Upcoming
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The global hydrogen market is anticipated to exhibit a CAGR of 5.9% during the forecasted period, 2021-2028. Hydrogen is formed using many resources such as natural gas, biomass, and coal along with numerous other non-renewable and renewable sources of energy. Electricity can be stored in the form of hydrogen by using the electrolysis process. The stored hydrogen can then be used again as electricity.


Hydrogen Market key takeaways

Market Trends, Drivers, Restraints, and Opportunities:

  • Increasing greenhouse emissions due to the consumption of fossil fuels and rapid industrialization is estimated to fuel the market growth.
  • High cost of hydrogen energy storage can create challenges for the market growth.
  • The concept of green hydrogen is still in its nascent stage, and many organizations are investing in setting up new green hydrogen production plants to reducing GHG emissions. Thus, increasing investment in the R&D activities is estimated to spur the market growth.
  • A rapid increase in the demand for clean and green fuel with the increasing pollution levels coupled with the stringent government rules to control and curb the sulphur content in fuel is anticipated to increase the proliferate the generation of hydrogen across the globe.

Scope of the report:

The report of hydrogen market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Hydrogen Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Sources (Blue Hydrogen, Green Hydrogen, and Grey Hydrogen), Delivery & Generation Modes (Merchant and Captive), Applications (Transport, Petroleum Refinery, Ammonia Production, Methanol Production, Power Generation, and Others), Technologies (Steam Methane Reforming, Partial Oxidation, Coal Gasification, and Electrolysis)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered

Linde, Air Liquide, Air Products &Chemicals, Uniper, and Engie

 

Hydrogen Market Segment Insights

Merchant segment is projected to grow at a robust rate:

On the basis of delivery & generation modes, the market can be bifurcated into merchant and captive. The merchant segment is projected to grow at a robust rate during the forecasted period. An increase in the production of large-scale hydrogen with the help of water electrolysis and natural gas process is anticipated to increase the growth of merchant segment. Merchant hydrogen can be produced by both natural gas and water electrolysis processes. This method reduces the requirement for making a new infrastructure for hydrogen electrolysis.

Blue hydrogen segment is anticipated to register a high CAGR during the forecast period

In terms of sources, the market can be segmented into blue hydrogen, green hydrogen, and grey hydrogen. The blue hydrogen segment is anticipated to register a high CAGR during the forecast period. Blue hydrogen is a resultant of natural gas, produced through steam methane reforming process. Steam methane reforming combines natural gas with hot steam in the occurrence of a catalyst and the chemical reaction results in the formation of carbon monoxide and hydrogen. Extra water is added to the mixture changing the carbon monoxide to carbon dioxide, leading to the formation of hydrogen. The carbon dioxide emissions produced are then taken and stored underground using the carbon capture utilization storage technology leaving almost pure hydrogen. The price of creating blue hydrogen is quite low.


Hydrogen Market by sources

Transport segment is projected to hold a significant share

Based on applications, the market can be segmented into transport, petroleum refinery, ammonia production, methanol production, power generation other applications. The transport segment is projected to hold a significant share during the forecast period. A rapid increase in demand for fuel cell electric vehicles in Asia Pacific is increasing the growth of the market segment. Hydrogen is used as application in various modes of transportation such as trains, busses, fuel cell electric vehicles (FCEV), and others such as airplanes and drones. CEVs are powered with hydrogen and they are more effective than normally used internal combustion engine vehicles.

Steam methane reforming segment is anticipated to grow at a robust rate

In terms of technologies, the market can be segmented into steam methane reforming, partial oxidation, coal gasification, electrolysis. The steam methane segment held a market share of more than 60% in 2020. Steam methane reforming is a technique of creating hydrogen along with other gases including carbon dioxide and carbon monoxide. The growing demand for hydrogen across the world is the key factor for the growth of steam methane reforming technology as it is the most profitable and cheap technology for the generation of hydrogen.

The market in Asia Pacific to exhibit a high CAGR

In terms of regions the market can be divided into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific accounted for a major share of the market. The countries in Asia Pacific is at the foremost when it comes to acceptance of green technologies to achieve the government targets for reducing GHG emissions. Japan is the first country to sell fuel cells and is helping the projects to grow which are related to the use of fuel cells in automotive and residential uses, and its aim is to deploy green hydrogen on a large-scale in the coming years.


Hydrogen Market by regions

Segments

By Sources
  • Blue Hydrogen
  • Green Hydrogen
  • Grey Hydrogen
By Delivery & Generation Modes
  • Merchant
  • Captive
By Applications
  • Transport
  • Petroleum Refinery
  • Ammonia Production
  • Methanol Production
  • Power Generation
  • Other Applications
By Technologies
  • Steam Methane Reforming
  • Partial Oxidation
  • Coal Gasification
  • Electrolysis
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players

Competitive Landscape

The key players of the market are Linde, Air Liquide, Air Products &Chemicals, Uniper, and Engie. These players have a significant share in the market are anticipated to grow at a robust rate during the forecasted year.

Hydrogen Market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hydrogen Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Hydrogen Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Hydrogen Market - Supply Chain
  4.5. Global Hydrogen Market Forecast
     4.5.1. Hydrogen Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Hydrogen Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Hydrogen Market Absolute $ Opportunity
5. Global Hydrogen Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Hydrogen Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Hydrogen Demand Share Forecast, 2019-2026
6. North America Hydrogen Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Hydrogen Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Hydrogen Demand Share Forecast, 2019-2026
7. Latin America Hydrogen Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Hydrogen Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Hydrogen Demand Share Forecast, 2019-2026
8. Europe Hydrogen Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Hydrogen Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Hydrogen Demand Share Forecast, 2019-2026
9. Asia Pacific Hydrogen Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Hydrogen Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Hydrogen Demand Share Forecast, 2019-2026
10. Middle East & Africa Hydrogen Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Hydrogen Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Hydrogen Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Hydrogen Market: Market Share Analysis
  11.2. Hydrogen Distributors and Customers
  11.3. Hydrogen Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Linde
     11.4.2. Air Liquid
     11.4.3. Air Products & Chemicals
     11.4.4. Uniper
     11.4.5. Engie
By Sources
  • Blue Hydrogen
  • Green Hydrogen
  • Grey Hydrogen
By Delivery & Generation Modes
  • Merchant
  • Captive
By Applications
  • Transport
  • Petroleum Refinery
  • Ammonia Production
  • Methanol Production
  • Power Generation
  • Other Applications
By Technologies
  • Steam Methane Reforming
  • Partial Oxidation
  • Coal Gasification
  • Electrolysis
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players

The key players of the market are Linde, Air Liquide, Air Products &Chemicals, Uniper, and Engie. These players have a significant share in the market are anticipated to grow at a robust rate during the forecasted year.

Hydrogen Market by key players

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