Global Hydrogen Market Report By Type (Hydrogen Gas And Liquid Hydrogen), Application (General Industry, Refining, And Metal Working) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2020-2027

ID:VMR11210057
April 2021
Report Formats:

The increasing use of hydrogen in petroleum industries to process crude oil into refined fuels, and for eliminating impurities, such as sulfur, from this fuel is driving the growth of the hydrogen market. Also, growing demand from various end-use industries such as metals, glass industry, semiconductor, and chemical will further trigger the growth and growing awareness towards reducing the carbon footprint on earth is further adding impetus growth to the market. However, growing adoption of hydrogen as a fuel in automotive, government initiatives towards clean energy coupled with promoting to use fuel cell electric vehicles (FCEVs) will offer new opportunity growth to the market.

As per the new market study added by Value Market Research, the Global Hydrogen Market was valued USD 140.1 MN (by revenue) in 2017 and is anticipated to reach USD 214.5 MN by 2024 with a CAGR of 6.0%. By volume, the market was estimated at XX.X Billion Cubic Meters in 2017 and is expected to reach XX.X Billion Cubic Meters by 2024 with a CAGR of X.X%.
 
COMPRESSED HYDROGEN IS THE HIGHLY PREFERRED TYPE OF HYDROGEN
Compressed gas is leading the segment owing to the rising application of compressed hydrogen gas in the automotive sector. The segment is expected to reach USD XX.X MN by end of 2024. Basically, it is used in hydrogen pipeline transport and in compressed hydrogen tube trailer transport. Moreover, it is also used for moveable hydrogen storage in hydrogen vehicles. Consequently, transportation is the major sector which is likely to drive the growth of compressed hydrogen gas. Also, rising demand for H2fuel cells for fuelling stations is expected to augment the growth.
 
REFINERY IS THE LARGEST APPLICATION AREA
Currently, hydrogen is of great importance in refining industry for upgrading heavy crude oils into refined fuels, helping to meet increasingly tight transportation fuel specifications and different refining processes such as hydrocracking, hydroisomerization, and hydrodealkylation. The segment is expected to reach USD XX.X MN by end of 2024. The demand for hydrogen in refinery has increased as the demand for diesel fuel has risen both domestically and internationally, and as sulfur-content regulations have become more stringent is likely to drive the growth of the segment.
 
ASIA-PACIFIC EMERGES AS THE LUCRATIVE MARKET FOR HYDROGEN
The Asia-Pacific has planted its dominance in 2017 and expected to maintain its dominance by end of 2024. The Asia-Pacific market is mainly growing on the ground owing to the rising demand for hydrogen-based fuel vehicle in the region. Also, the manufacturer is likely to establish auto fueling stations in the region is another major factor fueling the market growth.
 
COMPETITIVE INSIGHT
Air Liquide, Air Products, Air Water, Linde Industrial Gas, Messer, Praxair, Taiyo Nippon Sanso, and Yingde Gases.

Global Hydrogen Market Overview
 
The global Hydrogen Market was valued at USD 51.7 MN in 2019 and is predicted to reach USD 70.7 BN by 2026 with a CAGR of 4% during the forecast period. By Volume, the market was stood 69,508.6 BN Cubic Meter and is estimated to grow at a CAGR of 3.8% between 2020 and 2026. Hydrogen is considered as a promising source of clean energy on the earth. A positive outlook towards metals, the glass industry, semiconductors, propellant fuel, and chemicals will stimulate business growth. Several aspects are contributing to the growth of the global hydrogen market. Factors such as a growing preference for on-site generation systems for hydrogen, rising technological advancements, and increasing adoption of hydrogen in various applications across several end-user industries are expected to push the market's growth in the coming years.
 
Hydrogen is used to process crude oil into refined fuels, such as diesel and gasoline, and eliminate contaminants, such as sulphur, from these fuels. Strong oil demand growth is contributing to a more optimistic outlook for the European refinery market. Rising investment by refiners towards upgradation and expansion of refineries to meet sulfur and emission regulation will positively encourage the hydrogen generation market size in coming years.
 
The rising demand for ammonia, owing to the increasing use of ammonia-based fertilizers to enhance productivity and maintain crop nutrition, and growing demand for the gas from the refinery sector due to the stringent sulfur reduction regulations, are some of the key attributable factors that are driving the growth of hydrogen industry. In the transport sector, electric vehicles driven by hydrogen fuel cells hold the potential to replace existing vehicles, wherein water would be the only exhaust. This can transform the automotive industry, which currently solely depends on fossil fuel. However, high cost of hydrogen as compared to fossil fuels may act as restrain for hydrogen generation market growth in near future. Key participants in the industry are focusing on technological advancements and innovation to minimize the cost of renewable-powered electrolysis and largely commercialize the production of hydrogen. The key players operating in the market includes Air Liquide, Air Products, Air Water, Linde Industrial Gas, Messer, Praxair, Taiyo Nippon Sanso, and Yingde Gases.

Global Hydrogen Market Share
 
In this research report, the hydrogen market is segmented by type, application and region.
 
Analysis by Type
Based on types, the market of hydrogen is bifurcated into compressed hydrogen and liquid hydrogen. The Compressed hydrogen type dominates the segment accounting for more than 55% market revenue share in 2019 due to increasing industrialization and rising adaption of fuel cell technology. In addition to this, transportation is the major sector which is likely to drive the segment of compressed hydrogen gas. Also, the rising demand for H2fuel cells for fuelling stations is expected to augment the growth.
 
Moreover, the liquid hydrogen has great importance in space-exploration programs as a rocket fuel with oxygen or fluorine as the oxidizer. Mainly, the segment is growing on account of the growing usage of green products as the combustion of liquid hydrogen does not produce any pollutants. Simultaneously, the increasing demand for renewable energy is expected to impel the demand for the product in the near future. Therefore, the rising demand for green power and the ongoing industrialization, and the increasing importance of renewable energy storage are expected to impact the growth positively.
 
Analysis by Application
By application, the market of hydrogen is bifurcated into refining, metalworking, and others. Owing to the growing demand for hydrogen from the refining industry, the segment is a dominating segment with an accounted market share of 49.61% in 2019 in terms of revenue and is projected to maintain its dominancy over the forecast period. Generally, it is used to process crude oil into refined fuels, such as gasoline and diesel, and it is also used to lower the sulfur content of diesel fuel. Approximately half of the hydrogen is currently consumed worldwide by oil refineries only. Refinery demand for hydrogen has increased as demand for diesel fuel has risen both domestically and internationally, and as sulfur-content regulations have become more stringent is likely to drive the growth of the segment.

Analysis by Region
In terms of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The Asia Pacific is dominating the global hydrogen market. The consumption of hydrogen has increased significantly in the Asia Pacific region. This is attributed to the healthy economic growth rate and growth of various end-use industries such as chemicals, electronics, and petrochemicals owing to cheap labor costs coupled with low stringent regulation as compared to Western regions. In addition to this, the pharmaceutical industry is booming in the region. 
 
Moreover, the refinery and metal processing sectors in the region are likely to experience notable growth, mainly in developing economies such as India and China, owing to support being offered to industries by government and private organizations. With the growth of end-use industries, the adoption of raw material used here is estimated to increase in the predictable future, hence fuelling the hydrogen market in the region. APAC had the maximum hydrogen market share of over 40% in 2019 in terms of volume and revenue.

Market Segmentation covered in the Report:
By Product
  • Compressed
  • Liquid

By Application
  • Refinery
  • Metal Working
  • Others

By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

METHODOLOGY

This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.

If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.

1 . PREFACE
       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
 
2 . EXECUTIVE SUMMARY
       2.1. Highlights of Hydrogen Market
       2.2. Global Hydrogen Market Snapshot
 
3 . HYDROGEN – INDUSTRY ANALYSIS
       3.1. Introduction
       3.2. Market Drivers of Hydrogen Market
       3.3. Market Restraints of Hydrogen Market
       3.4. Opportunities of Hydrogen Market
       3.5. Trends of Hydrogen Market
       3.6. Porter’s Five Force Analysis of Hydrogen Market
       3.7. Hydrogen Market Attractiveness Analysis
           3.7.1 Market Attractive Analysis by Type
           3.7.2 Market Attractive Analysis by Application
           3.7.3 Market Attractive Analysis by Region
 
4 . VALUE CHAIN ANALYSIS
       4.1. Hydrogen Value Chain Analysis
       4.2. Hydrogen Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Hydrogen Raw Material Manufactures List
           4.2.3. Price Trend of Hydrogen Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
 
5 IMPACT ANALYSIS OF COVID-19 OUTBREAK
       5.1. Impact Analysis of Covid-19 Outbreak on Hydrogen Market
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Hydrogen Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic on the Hydrogen Market Size in 2020, by Scenario
       5.5. COVID-19: Micro and Macro Factor Analysis on Hydrogen Market
 
6 . GLOBAL HYDROGEN MARKET ANALYSIS BY TYPE
       6.1 Overview by Type
       6.2 Historical Data 2015-2018
       6.3 Global Hydrogen Market Analysis by Type
       6.4 Market Analysis of Hydrogen Gas by Regions
       6.6 Market Analysis of Liquid Hydrogen by Regions
 
7 . GLOBAL HYDROGEN MARKET ANALYSIS BY APPLICATION
       7.1 Overview by Application
       7.2 Historical Data 2015-2018
       7.3 Global Hydrogen Market Analysis by Application
       7.4 Market Analysis of General Industry by Regions
       7.5 Market Analysis of Refining by Regions
       7.6 Market Analysis of Metal Working by Regions
 
8 . GLOBAL HYDROGEN MARKET ANALYSIS BY GEOGRAPHY
       8.1. Regional Outlook
       8.2. Introduction
       8.3. North America
           8.3.1. Overview and Historic Data
           8.3.2. North America Hydrogen Market Estimate By Market Segment
           8.3.3. North America Hydrogen Market Estimate By Country
           8.3.4. United State
           8.3.5. Canada
           8.3.6. Mexico
       8.4. Europe
           8.4.1. Overview and Historic Data
           8.4.2. Europe Hydrogen Market Estimate by Market Segment
           8.4.3. Europe Hydrogen Market Estimate by Country
           8.4.4. United Kingdom
           8.4.5. France
           8.4.6. Germany
           8.4.7. Italy
           8.4.8. Russia
           8.4.9. Rest Of Europe
       8.5. Asia Pacific
           8.5.1. Overview and Historic Data
           8.5.2. Asia Pacific Hydrogen Market Estimate by Market Segment
           8.5.3. Asia Pacific Hydrogen Market Estimate by Country
           8.5.4. China
           8.5.5. India
           8.5.6. Japan
           8.5.7. South Korea
           8.5.8. Australia
           8.5.9. Rest Of Asia Pacific
       8.6. Latin America
           8.6.1. Overview and Historic Data
           8.6.2. Latin America Hydrogen Market Estimate by Market Segment
           8.6.3. Latin America Hydrogen Market Estimate by Country
           8.6.4. Brazil
           8.6.5. Argentina
           8.6.6. Peru
           8.6.7. Chile
           8.6.8. Rest of Latin America
       8.7. Middle East & Africa
           8.7.1. Overview and Historic Data
           8.7.2. Middle East & Africa Hydrogen Market Estimate by Market Segment
           8.7.3. Middle East & Africa Hydrogen Market Estimate by Country
           8.7.4. Saudi Arabia
           8.7.5. UAE
           8.7.6. Israel
           8.7.7. South Africa
           8.7.8. Rest Of Middle East And Africa
 
9 . COMPETITIVE LANDSCAPE OF THE HYDROGEN COMPANIES
       9.1. Hydrogen Market Competition
       9.2. Partnership/Collaboration/Agreement
       9.3. Merger And Acquisitions
       9.4. New Product Launch
       9.5. Other Developments
 
10 . COMPANY PROFILES OF HYDROGEN INDUSTRY
       10.1. Company Share Analysis
       10.2. Market Concentration Rate
       10.3. Air Liquide
           10.3.1. Company Overview
           10.3.2. Financials
           10.3.3. Products
           10.3.4. Recent Developments
       10.4. Air Products
           10.4.1. Company Overview
           10.4.2. Financials
           10.4.3. Products
           10.4.4. Recent Developments
       10.5. Air Water
           10.5.1. Company Overview
           10.5.2. Financials
           10.5.3. Products
           10.5.4. Recent Developments
       10.6. Linde Industrial Gas
           10.6.1. Company Overview
           10.6.2. Financials
           10.6.3. Products
           10.6.4. Recent Developments
       10.7. Messer
           10.7.1. Company Overview
           10.7.2. Financials
           10.7.3. Products
           10.7.4. Recent Developments
       10.8. Praxair
           10.8.1. Company Overview
           10.8.2. Financials
           10.8.3. Products
           10.8.4. Recent Developments
       10.9. Taiyo Nippon Sanso
           10.9.1. Company Overview
           10.9.2. Financials
           10.9.3. Products
           10.9.4. Recent Developments
       10.10. Yingde Gases
           10.10.1. Company Overview
           10.10.2. Financials
           10.10.3. Products
           10.10.4. Recent Developments
 
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
 
LIST OF TABLES

  • Global Hydrogen Market Snapshot
  • Drivers of The Global Hydrogen Market Impact Analysis
  • Restraints of The Global Hydrogen Market Impact Analysis
  • List of Raw Material
  • List of Raw Material Manufactures
  • List of Potential Buyers
  • COVID-19 Impact Analysis by Production, Import, Export and Demand
  • Hydrogen Market: Pre V/S Post COVID-19
  • Estimated Impact Of The Coronavirus (Covid-19) Epidemic On The Hydrogen Market Size In 2020, By Scenario
  • COVID-19: Micro and Macro Factor Analysis on Hydrogen Market
  • Global Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Historic Data 2015-2018
  • Global Hydrogen Market Analysis in Hydrogen Gas by Geography (Billion Cubic Meters & USD MN)
  • Global Hydrogen Market Analysis in Liquid Hydrogen by Geography (Billion Cubic Meters & USD MN)
  • Global Hydrogen Market Analysis by Application (Billion Cubic Meters & USD MN)
  • Historic Data 2015-2018
  • Global Hydrogen Market Analysis in General Industry by Geography (Billion Cubic Meters & USD MN)
  • Global Hydrogen Market Analysis in Refining by Geography (Billion Cubic Meters & USD MN)
  • Global Hydrogen Market Analysis in Metal Working by Geography (Billion Cubic Meters & USD MN)
  • Global Hydrogen Market Analysis in 18 by Geography (Billion Cubic Meters & USD MN)
  • Global Hydrogen Market Analysis in 19 by Geography (Billion Cubic Meters & USD MN)
  • Global Hydrogen Market Analysis in 20 by Geography (Billion Cubic Meters & USD MN)
  • Global Hydrogen Market Analysis in 21 by Geography (Billion Cubic Meters & USD MN)
  • Global Hydrogen Market by Geography (Billion Cubic Meters & USD MN)
  • Historic Data 2015-2018
  • North America Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • North America Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • North America Hydrogen Market Estimate by Country (Billion Cubic Meters & USD MN)
  • United State Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • United State Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Canada Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Canada Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Mexico Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Mexico Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Europe Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Europe Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Europe Hydrogen Market Estimate by Country (Billion Cubic Meters & USD MN)
  • United Kingdom Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • United Kingdom Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • France Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • France Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Germany Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Germany Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Italy Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Italy Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Russia Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Russia Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Spain Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Spain Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Rest of Europe Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Rest of Europe Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Asia Pacific Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Asia Pacific Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Asia Pacific Hydrogen Market Estimate by Country (Billion Cubic Meters & USD MN)
  • China Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • China Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Japan Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Japan Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • India Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • India Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • South Korea Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • South Korea Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Australia Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Australia Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Rest of Asia Pacific Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Rest of Asia Pacific Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Latin America Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Latin America Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Latin America Hydrogen Market Estimate by Country (Billion Cubic Meters & USD MN)
  • Brazil Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Brazil Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Argentina Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Argentina Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Peru Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Peru Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Chile Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Chile Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Rest of Latin America Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Rest of Latin America Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Middle East & Africa Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Middle East & Africa Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Middle East & Africa Hydrogen Market Estimate by Country (Billion Cubic Meters & USD MN)
  • Saudi Arabia Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Saudi Arabia Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • UAE Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • UAE Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Israel Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Israel Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • South Africa Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • South Africa Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Rest of Middle East and Africa Hydrogen Market Analysis by Type (Billion Cubic Meters & USD MN)
  • Rest of Middle East and Africa Hydrogen Market Estimate by Application (Billion Cubic Meters & USD MN)
  • Partnership/Collaboration/Agreement
  • Mergers And Acquisiton
 
LIST OF FIGURES
 
  • Research Scope of Hydrogen Report
  • Market Research Process
  • Market Research Methodology
  • Global Hydrogen Market Size, by Region (2019)
  • Porters Five Forces Analysis
  • Market Attractiveness Analysis by Type
  • Market Attractiveness Analysis by Application
  • Market Attractiveness Analysis by Region
  • Value Chain Analysis
  • Global Hydrogen Market Analysis by Type
  • Global Hydrogen Market Analysis in Hydrogen Gas by Region
  • Global Hydrogen Market Analysis in Liquid Hydrogen by Region
  • Global Hydrogen Market Analysis by Application
  • Global Hydrogen Market Analysis in General Industry by Region
  • Global Hydrogen Market Analysis in Refining by Region
  • Global Hydrogen Market Analysis in Metal Working by Region
  • Global Hydrogen Market by Volume And Revenue
  • North America Hydrogen Market by Volume And Revenue
  • Europe Hydrogen Market by Volume And Revenue
  • Asia Pacific Hydrogen Market by Volume And Revenue
  • Latin America Hydrogen Market by Volume And Revenue
  • Middle East & Africa Hydrogen Market by Volume And Revenue
  • Recent Development in Hydrogen Industry
  • Company Market Share Analysis, 2020
 
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

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  • Analyze competitive developments

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