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Hydrogen Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

Global Hydrogen Market By Technology (Thermal Process, Electrolytic Process, Others); By Application (Methanol Production, Ammonia Production, Petroleum Refinery, Heat Treatment, Transportation, Power Generation, Renewable Energy, Hydrogen Fuel Cell); By Delivery Mode (Captive, Merchant) – Industry Dynamics, Market Size, and Opportunity Forecast to 2027

  • Published On: 16-Dec-2021  |  Format: pdfpowerpointexcel  |  Report ID: AA1221107
    Delivery: 2 to 4 Hours
Hydrogen Market

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Report AttributeDetails
Market Size Value in 2021US$ 194,899.0 Mn
Expected Revenue in 2027US$ 286,789.2 Mn
Historic Data2017-2020
Base Year2021
Forecast Period2022-2027
UnitValue (USD Mn)
Segments coveredBy Technology, By Application, By Delivery Mode, and Region
Key CompaniesAir Products and Chemicals, Inc, Hydrogenics, NEL Hydrogen, Showa Denko, and other prominent players.
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Global Hydrogen market generated a revenue of US$ 194,899.0 million in the year 2021.

In 2021, the hydrogen industry recorded a volume of 69,984.2 Tons.

Hydrogen has importance in lower emission and cleaner environmental practices. It is also a leading transportation fuel.

Air Liquide International S.A., Air Products and Chemicals, Inc, Hydrogenics, Linde plc, NEL Hydrogen, Showa Denko, Iwatani CO, Messer Group GmbH, Teledyne Technologies Inc, Claind, Cummins, HyTech Power, Inox, ITM Power, PowerTap are some of the companies that manufactures various types of Hydrogen.

The pandemic resulted in curbs on Investment and slowdown of expansion of clean energy. However, global commitment towards mitigating climate change will lead to greater adoption of hydrogen and will boost the market growth further in the coming years.

The market witnessed a presence of nine major companies with 68.50% of shareholding. Some of these are Air Liquide International S.A., Air Products and Chemicals, Inc, Hydrogenics, Linde plc, NEL Hydrogen, Showa Denko, Iwatani CO.

Hydrogen is used as a reagent in many industrial sectors, including chemicals, textile fibre, manufacturing, glass, electronics, and metallurgy. Hydrogen-powered fuel cells are being used in the automotive industry for their lower emission producing properties.

The Global Hydrogen Market is estimated to grow at a CAGR of 6.6% during the forecast period of 2021-2027.

In terms of revenue, the market is estimated to generate a total of US$ 286,789.2 Mn by the year 2027.

Asia Pacific dominates the global hydrogen market with a total share of 71% in the year 2020.

The hydrogen market has huge future potential with estimated demand of 183.2 Mn tons by the year 2050.

Currently, Grey Hydrogen is the cheapest among all of these with cost of less than US $1 to US $2/kg. Although Blue and Green Hydrogen are more efficient, their cost, technology, and infrastructure constraints their market share and demand.