Hydrogen Market Growing Due to Increasing Uptake of Fuel Cell Electric Vehicles

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Abundant availability of hydrogen through water, hydrocarbons, fossil fuels, and organic matter provides a vital energy source. Strives to eradicate the carbon emissions for developing a low carbon economy by using renewable-based hydrogen is contributing to the growth of global hydrogen market. A recent publication of IndustryARC says that the global hydrogen market size was $118.1 billion in 2018 and projects growth at a Compound Annual Growth Rate (CAGR) of 5.48% over the forecast period of 2019-2025.

The report is titled: “Hydrogen Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2019 – 2025.” It provides a detailed analysis of the competitive structure, hydrogen market trends, hydrogen market demand, and hydrogen market drivers among others to the key market participants with the necessary business intelligence and helps them understand the future of the global hydrogen market.

Hydrogen Market: Leading Segments

Hydrogen Council has fixed their targets for 350,000[1] commercial trucks, 50,000 buses, and thousands of trains by 2030, and for 12 to 20 million commercial trucks, 5 million buses, and 20% of trains by 2050. Hydrogen is extensively used in chemical, metal processing, glass industry, petroleum refining, edible fats and oils, and energy industries. Ammonia Production is admitted as the fastest growing application with a CAGR of 2.50% throughout the above-mentioned forecast period. As the major quantity of hydrogen is utilized to produce ammonia, this segment is sourcing impeccable shares in hydrogen market revenue.

Australia is identified as the front runner in cutting down the carbon emissions, as it uses abundant of coal supplies to produce hydrogen. Japanese homes are furnished with fuel cell technology to deliver electricity and hydrogen production from many plants is processed using renewable energy sources. Government of China has planned to shrink the usage of diesel vehicles and empowering the commercialization of fuel cell electric vehicles (FCEVs). Therefore, APAC occupied the leading regional share that is 55% in the global hydrogen market as of 2018. Wherein Japan also targeted to display the technology with thousands of hydrogen fuel cell vehicles, a system of filling stations and a hydrogen-powered athletes’ village at 2020 Tokyo Olympics.

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View Full Table of Contents of Hydrogen Market:

https://industryarc.com/Research/Hydrogen-Market-Research-501664

Hydrogen Market: Disruptive Trends

  • Presently hydrogen is exploring as a transportation fuel, government and industry are putting their efforts to produce and distribute clean, safe and economical hydrogen, as it provides low carbon mobility via FCEVs.
  • Hydrogen with natural gas is widely used in the high-emission applications and also replaces fossil-based feedstocks.
  • Implementation of hydrogen fuel cell passenger train in Germany is propelling the green hydrogen revolution.
  • Cheaper green electricity is boosting low-cost green hydrogen. Hydrogen power the fuel cell-based vehicles on the transport side.
  • Application of green hydrogen into industrial processes, homes, mobility, buildings, and cities at a quicker rate is driving the demand for hydrogen everywhere.
  • Hydrogen is flourishing as an effective energy carrier and also as a sustainable energy source. New strategies employing the conversion of electricity which is generated from wind turbines into hydrogen fuel. So that it avoids cars to rely on fossil fuels as it fuel cars.
  • Increasing investments by automotive OEMs to manufacture electric cars are also impacting the growth of the global hydrogen market.
  • Government policies in countries namely China, India, Japan, and South Korea are encouraging zero-emission vehicles

Hydrogen Market: Competitive Landscape

Some of the prominent players who are topping with their hydrogen market share are listed as Praxair, Inc., Airgas, Inc., Air Liquide S.A., Iwatani Corporation, INOX Air Products Ltd., Hydrogenics Corporation, Linde AG and Messer Group GmbH.

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What can you expect from the report?
The Hydrogen Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Hydrogen Market Size by Product Categories & Application
2. Hydrogen Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Hydrogen Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Hydrogen Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Hydrogen Market Strategic Analysis
18. Hydrogen Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Hydrogen Market Revenue and Volume Analysis

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Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:

1. Increase the level of data in the application or end-user industry.

2. Increase the number of countries in geography chapter.

3. Find out market shares for other smaller companies or companies which are of interest to you.

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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