Dublin, June 10, 2024 (GLOBE NEWSWIRE) -- The "Hydrogen Infrastructure Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
World revenue for the Hydrogen Infrastructure Market is set to surpass US$6.71 billion in 2024.
One of the primary drivers of the global hydrogen infrastructure market is the implementation of supportive government policies and incentives. Various countries are increasingly recognising the potential of hydrogen as a clean energy source and are introducing favourable policies to encourage its adoption. For example, the European Union has launched the European Clean Hydrogen Alliance, aiming to facilitate large-scale deployment of hydrogen technologies by 2030.
Additionally, the United States has the Hydrogen Energy Earthshot initiative, which aims to reduce the cost of clean hydrogen by 80% by 2030. These initiatives typically include subsidies, tax credits, and grants for hydrogen infrastructure projects, making it financially viable for companies to invest in hydrogen production, storage, and distribution facilities. The direct impact of these policies is seen in the rapid expansion of hydrogen refuelling stations and the development of hydrogen production plants across various regions.
The cost of hydrogen production remains a significant restraining factor in the market's growth trajectory. One primary challenge is that the cost of hydrogen is higher compared to conventional energy options, presenting a substantial financial constraint for both producers and consumers. The process of producing hydrogen, particularly through methods like electrolysis or steam methane reforming, requires significant energy input, which contributes to its high cost. Additionally, infrastructure costs for hydrogen storage, transportation, and distribution further add to the overall expense. This elevated cost of hydrogen makes it less competitive with conventional fossil fuels, deterring widespread adoption across various sectors.
Key Market Dynamics
Market Driving Factors
- Wide Application of Hydrogen Driving the Market Growth
- Hydrogen Offers a Decarbonization Solution Driving the Market Growth
- Green Hydrogen and the Digital Transformation of the Energy Industry Driving the Market Growth
Market Restraining Factors
- The Cost of Hydrogen is Higher Than Conventional Energy Options
- Limited Understanding of the Design Practices and unskilled Labour can restrain the Market Growth
- Energy Losses Hinder the Market Growth
Market Opportunities
- Rising Investment and Collaboration in Hydrogen Market Opportunities for the Market Players
- Governments Worldwide are Implementing Policies and Incentives to Promote the Adoption of Green Hydrogen
- International Climate Agreements Opportunities for the Market Growth
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising hydrogen infrastructure prices and recent developments.
Segments Covered in the Report
Market Segment by Size
- Small/Mid-Scale Infrastructure
- Large Scale Infrastructure
Market Segment by Purity
- High Purity Hydrogen (99.999%)
- Medium Purity Hydrogen (95-99%)
- Low Purity Hydrogen (Below 95%)
Market Segment by Component
- Electrolysers
- Hydrogen Tanks
- Pipelines
- Hydrogen Dispensers
Market Segment by Type
- Hydrogen Production Facilities
- Hydrogen Storage Facilities
- Hydrogen Transportation Infrastructure
- Hydrogen Refuelling Stations
- Other Infrastructures
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Hydrogen Infrastructure Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Air Liquide SA
- Air Products and Chemicals, Inc.
- Ballard Power Systems Inc.
- Cummins Inc.
- Engie SA
- Fuel Cell Energy, Inc.
- H2 MOBILITY Deutschland GmbH & Co. KG
- ITM Power plc
- Kawasaki Heavy Industries, Ltd.
- Linde plc
- McPhy Energy SA
- Mitsubishi Power, Ltd
- Nel ASA
- Plug Power Inc.
- Siemens Energy AG
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2034 for the Hydrogen Infrastructure Market, with forecasts for size, purity, component, type, and end-use, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Hydrogen Infrastructure Market.
For more information about this report visit https://www.researchandmarkets.com/r/cmk7fs
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