PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1537102
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1537102
The global hydrogen valve market was valued at USD 331 million in 2024 and is projected to reach USD 507 million by 2030; it is expected to register a CAGR of 7.4% during the forecast period. This growing demand of hydrogen as a clean fuel, abated by the global sustainability initiatives and government policies to qualitatively enhance hydrogen production, is significantly boosting the hydrogen valve market. Most of the increase is thus supplemented because of the increasing need for efficient and safe infrastructure to support hydrogen distribution and utilization in various applications ranging from transportation to industrial processes. With growing investments in hydrogen technologies, demand is likely to surge for specialized valves working over high pressure and corrosive situations.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Million) |
Segments | By valve type, material, size, pressure range, implementation, application, end-user industry, and region |
Regions covered | North America, Europe, APAC, RoW |
Hydrogen ball valve is expected to have the highest market growth during the forecast period.
The hydrogen ball valve market is poised to grow steadily with the rise in the hydrogen economy in the energy, automotive, and industrial sectors. The growth drivers are mainly technological advancements, government policies, and heavy investments in hydrogen infrastructures. Leading regions such as North America, Europe, and the fast-paced Asia-Pacific are promoting innovations that assure safe and efficient distribution of hydrogen, thus accelerating the growth of the market and furthering the cause of sustainable energy solutions.
Hydrogen valves of size below 1 inch is expected to have the highest market growth during the forecast period.
The hydrogen valves market, sized <1 inch, is projected to register higher CAGR during the forecast period. The compact nature of such valves makes them very handy in applications where space is a limitation, particularly in the automotive and portable hydrogen systems. With the growing demand for hydrogen energy, the This, in regard to infrastructure, also increases the need for efficient flow control in refueling stations.
These technological innovations have brought about the production of high-performance valves, especially in small sizes. It designed safety and reliability in the light of specific properties of hydrogen.
Hydrogen valves of Pressure 350-700 bar is expected to have the highest market growth during the forecast period.
With its increasing adoption as a clean energy source, the outlook for the >350-700 bar pressure hydrogen valve remains strong. The main applications include fuel cell vehicles, hydrogen refueling stations, and related equipment, which are triggered by government subsidization and investment in hydrogen infrastructure. Moreover, technological development and a rising need for effective hydrogen storage and conveyance solutions also drive demand, especially in regions like Europe, Asia, and North America..
"The Hydrogen fuel cell segment is likely to grow at the highest CAGR during the forecast period."
The growth of hydrogen valves is directly linked to the increasing usage and adoption of hydrogen fuel cells. Much of this emanates from the fact that various industries have grown conscientious about the global needs of clean energy solutions, with advantage going towards hydrogen fuel cells.There have recently been significant technological developments in fuel cell technology that have increased the operating pressures while producing much more aggressive working environments due to corrosion.
"Oil & gas end user industry segment of hydrogen valve market is expected have the largest market share during the forecast period."
The hydrogen valves market used in oil & gas industry segment is expected to have the largest market of USD 109.2 million by 2030. Hydrogen plays a critical role in an oil and gas refinery for its hydrocracking and hydrotreating processes. These are the methods through which crude oil is refined into useful products such as gasoline and diesel.. These trends in valves may be indirectly influenced by their potential demand for renewable energies, storing and transportation, and other uses in industry. Similarly, with hydrogen penetrating as a clean energy carrier and industrial feedstock, the pressure of innovation on valve technologies may develop to meet new efficiency, safety, and operational demands across industries, not least in oil and gas refineries.
"Hydrogen valve in Asia pacific market is expected have the largest market share during the forecast period."
The hydrogen valve market is recording fast growth in the Asia Pacific region driven by increasing demand for hydrogen in industries and transportation. Huge investments that countries such as China, Japan, and South Korea are making in hydrogen-related infrastructures and technologies are major drivers. Government policies, in the light of Japan's Basic Hydrogen Strategy and South Korea's Hydrogen Economy Roadmap, further amplify market growth by touting hydrogen as a clean source of energy, resulting in increased deployment of hydrogen valves for various applications.
Breakdown of primaries
The hydrogen valve market is dominated by a few globally established players such as like Emerson Electric Co. (US), IMI (UK), SLB (US), Valmet (Finland), Crane Company (US), Westport Fuel Systems Inc. (Canada), KITZ Corporation (US), PARKER HANNIFIN CORP (US), Baker Hughes Company (US), Swagelok Company (US). The study includes an in-depth competitive analysis of these key players in the hydrogen valve market, with their company profiles, recent developments, and key market strategies.
The report segments the hydrogen valve market and forecasts by valve type, material. size, pressure range, implementation, application, end-user industry, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions-North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the hydrogen valve market.