Apr 7, 2022   SOURCE: BusinessWire

Worldwide Hydrogen Industry to 2030 - Identify Growth Segments for Investment - ResearchAndMarkets.com

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.

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%.

Companies Mentioned

  • Air Products and Chemicals, Inc.
  • The Linde Group
  • L'Air Liquide S.A
  • Taiyo Nippon Sanso Corp.
  • Air Water Inc.
  • The Messer Group

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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 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.

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