Hydrogen Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2033

Description

Persistence Market Research has recently released a comprehensive report on the global Hydrogen Market. This report provides an in-depth assessment of critical market dynamics, including drivers, trends, opportunities, and challenges, offering detailed insights into the market structure.

Key Insights:

Hydrogen Market Size (2024E): USD 1977.3 Mn
Projected Market Value (2033F): USD 43634.2 Mn
Global Market Growth Rate (CAGR 2024-2033): 41.00%

Hydrogen Market - Report Scope:

Hydrogen is a versatile element with applications across various sectors, including energy, transportation, and industrial processes. It is increasingly used as a clean fuel source, energy carrier, and in chemical production. The market caters to industries seeking sustainable energy solutions and is driven by the global shift towards decarbonization and renewable energy sources. The growth of the hydrogen market is influenced by advancements in hydrogen production technologies, increasing government support, and growing demand for clean energy solutions.

Market Growth Drivers:

The global hydrogen market is driven by several key factors. The rising demand for clean and renewable energy sources is a major driver, as hydrogen offers a zero-emission alternative to conventional fossil fuels. Technological advancements in hydrogen production, including electrolysis and steam methane reforming, further propel market growth. Government policies and incentives aimed at reducing carbon emissions and promoting hydrogen infrastructure development also contribute to market expansion. Additionally, the growing adoption of hydrogen fuel cells in transportation and industrial applications underscores its role in future energy systems.

Market Restraints:

Despite promising growth prospects, the hydrogen market faces challenges related to production costs, infrastructure development, and safety concerns. The high cost of hydrogen production, particularly from renewable sources, can impact market pricing and adoption rates. The lack of comprehensive infrastructure for hydrogen distribution and refueling limits market penetration. Additionally, safety concerns related to hydrogen storage and handling may pose barriers to widespread adoption. Addressing these challenges is crucial for the market's long-term growth and sustainability.

Market Opportunities:

The hydrogen market presents significant growth opportunities driven by technological innovations, increasing investment in hydrogen infrastructure, and expanding application areas. The development of cost-effective hydrogen production methods and advancements in fuel cell technology offer new market avenues. Regional expansions, particularly in emerging economies, provide additional opportunities for market growth. Strategic partnerships, investments in research and development, and the exploration of new application areas, such as hydrogen-powered aviation and shipping, are essential for capitalizing on these opportunities.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the hydrogen market globally?
Which applications and industries are driving the adoption of hydrogen?
How are technological advancements influencing the competitive landscape of the hydrogen market?
Who are the key players contributing to the hydrogen market, and what strategies are they employing to maintain market relevance?
What are the emerging trends and future prospects in the global hydrogen market?

Competitive Intelligence and Business Strategy:

Leading players in the global hydrogen market, including Air Liquide, Linde plc, ITM Power, and Nel ASA, focus on innovation, strategic partnerships, and expanding hydrogen infrastructure to gain a competitive edge. These companies invest in research and development to advance hydrogen production technologies and improve fuel cell efficiency. Collaborations with industry stakeholders, including energy companies and automotive manufacturers, facilitate market access and promote technology adoption. Emphasis on sustainability, regulatory compliance, and customer-centric solutions strengthens market positioning and fosters industry growth.

Key Companies Profiled:

The Linde Group
Air Liquide S.A.
Air Products and Chemicals, Inc.
Iwatani Corporation
Showa Denko K.K.
Teledyne Technologies Inc.
Messer Group GmbH
Hydrogenics Corp.
Nel ASA
Southern Industrial Gas Sdn Bhd
Hy.Gear B.V.
Xebec Adsorption Inc.
ALLY HI-TECH CO., LTD
Ellenbarrie Industrial Gases Ltd
CLAIND Srl
Bristol Gases - Concorde Corodex Group
Taiyo Nippon Sanso Corporation
Yateem Oxygen
Nuvera Fuel Cells, LLC
Gulf Cryo Holding C.S.C

Hydrogen Market Segmentation

By Production Method:

Methane Reforming
Oxidation of Oil
Coal Gasification
Electrolysis
Others

By End Use:

Power Generation
Petroleum Refinery
Metal Processing
Automotive Fuel
Chemical
Ammonia
Methanol
Resin
Polymer
Glass Industry
Edible Fats & Oils
Others

By Delivery mode:

Centralized Production
Pipelines
Trucks
Cylinders
Distributed Production
Captive Storage

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

Product Code: PMRREP4146

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

4. Key Success Factors

4.1. Strategic Promotional Strategies

5. Global Market Demand Analysis 2019-2023 and Forecast, 2024-2033

5.1. Historical Market Volume (Thousand Tons) Analysis, 2019-2023
5.2. Current and Future Market Volume (Thousand Tons) Projections, 2024-2033
5.3. Y-o-Y Growth Trend Analysis

6. Global Market - Pricing Analysis

6.1. Global Average Pricing Analysis Benchmark

7. Global Market Demand (in Value or Size in US$ Thousand) Analysis 2019-2023 and Forecast, 2024-2033

7.1. Historical Market Value (US$ Thousand) Analysis, 2019-2023
7.2. Current and Future Market Value (US$ Thousand) Projections, 2024-2033
- 7.2.1. Y-o-Y Growth Trend Analysis
- 7.2.2. Absolute $ Opportunity Analysis

8. Market Background

8.1. Macro-Economic Factors
- 8.1.1. Manufacturing Value Added by Key Countries
- 8.1.2. Global GDP Growth Outlook
- 8.1.3. Global Petroleum Refining Industry Overview
- 8.1.4. Global Fertilizer Industry Overview.
8.2. Forecast Factors - Relevance & Impact
- 8.2.1. GDP Growth
- 8.2.2. Ongoing Research & Development Activity
- 8.2.3. Growth in Transport Industry
- 8.2.4. Population Growth and Demographic Shifts
- 8.2.5. Substitute Fuels Analysis
- 8.2.6. COVID-19 Impact
8.3. Value Chain
8.4. Supply-Demand Analysis
8.5. Market Dynamics
- 8.5.1. Drivers
- 8.5.2. Restraints
- 8.5.3. Opportunity Analysis
8.6. Impact of COVID - 19 Crisis

9. Global Market Analysis 2019-2023 and Forecast 2024-2033, By Production Method

9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Thousand) and Volume Analysis By Production Method, 2019-2023
9.3. Current and Future Market Size (US$ Thousand) and Volume Analysis and Forecast By Production Method, 2024-2033
- 9.3.1. Food Steam Methane Reforming
- 9.3.2. Partial Oxidation of Oil
- 9.3.3. Coal Gasification
- 9.3.4. Electrolysis
- 9.3.5. Others

10. Global Market Analysis 2019-2023 and Forecast 2024-2033, By End Use

10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Thousand) and Volume Analysis By End Use, 2019-2023
10.3. Current and Future Market Size (US$ Thousand) and Volume Analysis and Forecast By End Use, 2024-2033
- 10.3.1. Power Generation
- 10.3.2. Petroleum Refining
- 10.3.3. Metal Processing
- 10.3.4. Automotive Fuel
- 10.3.5. Chemical
  - 10.3.5.1. Ammonia
  - 10.3.5.2. Methanol
  - 10.3.5.3. Resin
  - 10.3.5.4. Polymer
- 10.3.6. Glass Industry
- 10.3.7. Edible Fats & Oils
- 10.3.8. Others

11. Global Market Analysis 2019-2023 and Forecast 2024-2033, By Delivery Mode

11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Thousand) and Volume Analysis By Delivery Mode, 2019-2023
11.3. Current and Future Market Size (US$ Thousand) and Volume Analysis and Forecast By Delivery Mode, 2024-2033
- 11.3.1. Centralized Production
  - 11.3.1.1. Pipelines
  - 11.3.1.2. Trucks
  - 11.3.1.3. Cylinders
- 11.3.2. Distributed Production
  - 11.3.2.1. Captive Storage

12. Global Market Analysis 2019-2023 and Forecast 2024-2033, by Region

12.1. Introduction
12.2. Historical Market Size (US$ Thousand) and Volume Analysis By Region, 2019-2023
12.3. Current Market Size (US$ Thousand) and Volume Analysis and Forecast By Region, 2024-2033
- 12.3.1. North America
- 12.3.2. Latin America
- 12.3.3. Europe
- 12.3.4. South Asia and Pacific
- 12.3.5. East Asia
- 12.3.6. Middle East & Africa

13. North America Market Analysis 2019-2023 and Forecast 2024-2033

13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ Thousand) and Volume Trend Analysis By Market Taxonomy, 2019-2023
13.4. Market Size (US$ Thousand) and Volume Forecast By Market Taxonomy, 2024-2033
- 13.4.1. By Country
  - 13.4.1.1. U.S.
  - 13.4.1.2. Canada
- 13.4.2. By Production Method
- 13.4.3. By End Use
- 13.4.4. By Delivery Mode
13.5. Market Attractiveness Analysis
- 13.5.1. By Country
- 13.5.2. By Production Method
- 13.5.3. By End Use
- 13.5.4. By Delivery Mode

14. Latin America Market Analysis 2019-2023 and Forecast 2024-2033

14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Thousand) and Volume Trend Analysis By Market Taxonomy, 2019-2023
14.4. Market Size (US$ Thousand) and Volume Forecast By Market Taxonomy, 2024-2033
- 14.4.1. By Country
  - 14.4.1.1. Brazil
  - 14.4.1.2. Mexico
  - 14.4.1.3. Rest of Latin America
- 14.4.2. By Production Method
- 14.4.3. By End Use
14.5. Market Attractiveness Analysis
- 14.5.1. By Country
- 14.5.2. By Production Method
- 14.5.3. By End Use
- 14.5.4. By Delivery Mode

15. Europe Market Analysis 2019-2023 and Forecast 2024-2033

15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Thousand) and Volume Trend Analysis By Market Taxonomy, 2019-2023
15.4. Market Size (US$ Thousand) and Volume Forecast By Market Taxonomy, 2024-2033
- 15.4.1. By Country
  - 15.4.1.1. Germany
  - 15.4.1.2. Italy
  - 15.4.1.3. France
  - 15.4.1.4. U.K.
  - 15.4.1.5. Spain
  - 15.4.1.6. BENELUX
  - 15.4.1.7. Russia
  - 15.4.1.8. Rest of Europe
- 15.4.2. By Production Method
- 15.4.3. By End Use
- 15.4.4. By Delivery Mode
15.5. Market Attractiveness Analysis
- 15.5.1. By Country
- 15.5.2. By Production Method
- 15.5.3. By End Use
- 15.5.4. By Delivery Mode

16. South Asia and Pacific Market Analysis 2019-2023 and Forecast 2024-2033

16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ Thousand) and Volume Trend Analysis By Market Taxonomy, 2019-2023
16.4. Market Size (US$ Thousand) and Volume Forecast By Market Taxonomy, 2024-2033
- 16.4.1. By Country
  - 16.4.1.1. India
  - 16.4.1.2. ASEAN
  - 16.4.1.3. ANZ
  - 16.4.1.4. Rest of South Asia and Pacific
- 16.4.2. By Production Method
- 16.4.3. By End Use
- 16.4.4. By Delivery Mode
16.5. Market Attractiveness Analysis
- 16.5.1. By Country
- 16.5.2. By Production Method
- 16.5.3. By End Use
- 16.5.4. By Delivery Mode

17. East Asia Market Analysis 2019-2023 and Forecast 2024-2033

17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size (US$ Thousand) and Volume Trend Analysis By Market Taxonomy, 2019-2023
17.4. Market Size (US$ Thousand) and Volume Forecast By Market Taxonomy, 2024-2033
- 17.4.1. By Country
  - 17.4.1.1. China
  - 17.4.1.2. Japan
  - 17.4.1.3. South Korea
- 17.4.2. By Production Method
- 17.4.3. By End Use
- 17.4.4. By Delivery Mode
17.5. Market Attractiveness Analysis
- 17.5.1. By Country
- 17.5.2. By Production Method
- 17.5.3. By End Use
- 17.5.4. By Delivery Mode

18. Middle East and Africa Market Analysis 2019-2023 and Forecast 2024-2033

18.1. Introduction
18.2. Pricing Analysis
18.3. Historical Market Size (US$ Thousand) and Volume Trend Analysis By Market Taxonomy, 2019-2023
18.4. Market Size (US$ Thousand) and Volume Forecast By Market Taxonomy, 2024-2033
- 18.4.1. By Country
  - 18.4.1.1. GCC Countries
  - 18.4.1.2. Turkey
  - 18.4.1.3. Northern Africa
  - 18.4.1.4. South Africa
  - 18.4.1.5. Rest of Middle East and Africa
- 18.4.2. By Production Method
- 18.4.3. By End Use
- 18.4.4. By Delivery Mode
18.5. Market Attractiveness Analysis
- 18.5.1. By Country
- 18.5.2. By Production Method
- 18.5.3. By End Use
- 18.5.4. By Delivery Mode

19. Key and Emerging Countries for Market Analysis

19.1. U.S. Market Analysis
- 19.1.1. By Production Method
- 19.1.2. By End Use
- 19.1.3. By Delivery Mode
19.2. Canada Market Analysis
- 19.2.1. By Production Method
- 19.2.2. By End Use
- 19.2.3. By Delivery Mode
19.3. Mexico Market Analysis
- 19.3.1. By Production Method
- 19.3.2. By End Use
- 19.3.3. By Delivery Mode
19.4. Brazil Market Analysis
- 19.4.1. By Production Method
- 19.4.2. By End Use
- 19.4.3. By Delivery Mode
19.5. Germany Market Analysis
- 19.5.1. By Production Method
- 19.5.2. By End Use
- 19.5.3. By Delivery Mode
19.6. Italy Market Analysis
- 19.6.1. By Production Method
- 19.6.2. By End Use
- 19.6.3. By Delivery Mode
19.7. France Market Analysis
- 19.7.1. By Production Method
- 19.7.2. By End Use
- 19.7.3. By Delivery Mode
19.8. UK Market Analysis
- 19.8.1. By Production Method
- 19.8.2. By End Use
- 19.8.3. By Delivery Mode
19.9. Spain Market Analysis
- 19.9.1. By Production Method
- 19.9.2. By End Use
- 19.9.3. By Delivery Mode
19.10. Russia Market Analysis
- 19.10.1. By Production Method
- 19.10.2. By End Use
- 19.10.3. By Delivery Mode
19.11. BENELUX Market Analysis
- 19.11.1. By Production Method
- 19.11.2. By End Use
- 19.11.3. By Delivery Mode
19.12. China Market Analysis
- 19.12.1. By Production Method
- 19.12.2. By End Use
- 19.12.3. By Delivery Mode
19.13. Japan Market Analysis
- 19.13.1. By Production Method
- 19.13.2. By End Use
- 19.13.3. By Delivery Mode
19.14. South Korea Market Analysis
- 19.14.1. By Production Method
- 19.14.2. By End Use
- 19.14.3. By Delivery Mode
19.15. India Market Analysis
- 19.15.1. By Production Method
- 19.15.2. By End Use
- 19.15.3. By Delivery Mode
19.16. ASEAN Market Analysis
- 19.16.1. By Production Method
- 19.16.2. By End Use
- 19.16.3. By Delivery Mode
19.17. ANZ Market Analysis
- 19.17.1. By Production Method
- 19.17.2. By End Use
- 19.17.3. By Delivery Mode
19.18. GCC Countries Market Analysis
- 19.18.1. By Production Method
- 19.18.2. By End Use
- 19.18.3. By Delivery Mode
19.19. Turkey Market Analysis
- 19.19.1. By Production Method
- 19.19.2. By End Use
- 19.19.3. By Delivery Mode
19.20. Northern Africa Market Analysis
- 19.20.1. By Production Method
- 19.20.2. By End Use
- 19.20.3. By Delivery Mode
19.21. South Africa Market Analysis
- 19.21.1. By Production Method
- 19.21.2. By End Use
- 19.21.3. By Delivery Mode

20. Market Structure Analysis

20.1. Market Concentration by Top Players
20.2. Market Analysis by Tier of Companies
20.3. Market Share Analysis of Top Players
20.4. Market Presence Analysis
- 20.4.1. By Regional footprint of Players

21. Competition Analysis

21.1. Competition Dashboard
21.2. Competition Deep Dive
- 21.2.1. The Linde Group
  - 21.2.1.1. Overview
  - 21.2.1.2. Product Portfolio
  - 21.2.1.3. Key Financials
  - 21.2.1.4. Recent Developments
  - 21.2.1.5. Strategy Overview
- 21.2.2. Air Liquide S.A.
  - 21.2.2.1. Overview
  - 21.2.2.2. Product Portfolio
  - 21.2.2.3. Key Financials
  - 21.2.2.4. Recent Developments
  - 21.2.2.5. Strategy Overview
- 21.2.3. Air Products and Chemicals, Inc.
  - 21.2.3.1. Overview
  - 21.2.3.2. Product Portfolio
  - 21.2.3.3. Key Financials
  - 21.2.3.4. Recent Developments
  - 21.2.3.5. Strategy Overview
- 21.2.4. Iwatani Corporation
  - 21.2.4.1. Overview
  - 21.2.4.2. Product Portfolio
  - 21.2.4.3. Key Financials
  - 21.2.4.4. Recent Developments
  - 21.2.4.5. Strategy Overview
- 21.2.5. Showa Denko K.K.
  - 21.2.5.1. Overview
  - 21.2.5.2. Product Portfolio
  - 21.2.5.3. Key Financials
  - 21.2.5.4. Recent Developments
  - 21.2.5.5. Strategy Overview
- 21.2.6. Teledyne Technologies Inc.
  - 21.2.6.1. Overview
  - 21.2.6.2. Product Portfolio
  - 21.2.6.3. Key Financials
  - 21.2.6.4. Recent Developments
  - 21.2.6.5. Strategy Overview
- 21.2.7. Messer Group GmbH
  - 21.2.7.1. Overview
  - 21.2.7.2. Product Portfolio
  - 21.2.7.3. Key Financials
  - 21.2.7.4. Recent Developments
  - 21.2.7.5. Strategy Overview
- 21.2.8. Hydrogenics Corp.
  - 21.2.8.1. Overview
  - 21.2.8.2. Product Portfolio
  - 21.2.8.3. Key Financials
  - 21.2.8.4. Recent Developments
  - 21.2.8.5. Strategy Overview
- 21.2.9. Nel ASA
  - 21.2.9.1. Overview
  - 21.2.9.2. Product Portfolio
  - 21.2.9.3. Key Financials
  - 21.2.9.4. Recent Developments
  - 21.2.9.5. Strategy Overview
- 21.2.10. Southern Industrial Gas Sdn Bhd
  - 21.2.10.1. Overview
  - 21.2.10.2. Product Portfolio
  - 21.2.10.3. Key Financials
  - 21.2.10.4. Recent Developments
  - 21.2.10.5. Strategy Overview
- 21.2.11. Hy.Gear B.V.
  - 21.2.11.1. Overview
  - 21.2.11.2. Product Portfolio
  - 21.2.11.3. Key Financials
  - 21.2.11.4. Recent Developments
  - 21.2.11.5. Strategy Overview
- 21.2.12. Xebec Adsorption Inc.
  - 21.2.12.1. Overview
  - 21.2.12.2. Product Portfolio
  - 21.2.12.3. Key Financials
  - 21.2.12.4. Recent Developments
  - 21.2.12.5. Strategy Overview
- 21.2.13. ALLY HI-TECH CO., LTD
  - 21.2.13.1. Overview
  - 21.2.13.2. Product Portfolio
  - 21.2.13.3. Key Financials
  - 21.2.13.4. Recent Developments
  - 21.2.13.5. Strategy Overview
- 21.2.14. Ellenbarrie Industrial Gases Ltd
  - 21.2.14.1. Overview
  - 21.2.14.2. Product Portfolio
  - 21.2.14.3. Key Financials
  - 21.2.14.4. Recent Developments
  - 21.2.14.5. Strategy Overview
- 21.2.15. CLAIND Srl
  - 21.2.15.1. Overview
  - 21.2.15.2. Product Portfolio
  - 21.2.15.3. Key Financials
  - 21.2.15.4. Recent Developments
  - 21.2.15.5. Strategy Overview
- 21.2.16. Bristol Gases - Concorde Corodex Group
  - 21.2.16.1. Overview
  - 21.2.16.2. Product Portfolio
  - 21.2.16.3. Key Financials
  - 21.2.16.4. Recent Developments
  - 21.2.16.5. Strategy Overview
- 21.2.17. Taiyo Nippon Sanso Corporation
  - 21.2.17.1. Overview
  - 21.2.17.2. Product Portfolio
  - 21.2.17.3. Key Financials
  - 21.2.17.4. Recent Developments
  - 21.2.17.5. Strategy Overview
- 21.2.18. Yateem Oxygen
  - 21.2.18.1. Overview
  - 21.2.18.2. Product Portfolio
  - 21.2.18.3. Key Financials
  - 21.2.18.4. Recent Developments
  - 21.2.18.5. Strategy Overview
- 21.2.19. Nuvera Fuel Cells, LLC
  - 21.2.19.1. Overview
  - 21.2.19.2. Product Portfolio
  - 21.2.19.3. Key Financials
  - 21.2.19.4. Recent Developments
  - 21.2.19.5. Strategy Overview
- 21.2.20. Gulf Cryo Holding C.S.C
  - 21.2.20.1. Overview
  - 21.2.20.2. Product Portfolio
  - 21.2.20.3. Key Financials
  - 21.2.20.4. Recent Developments
  - 21.2.20.5. Strategy Overview