New York, NY, March 27, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Hydrogen Market by Delivery Mode (Captive, Merchant), by Technology (Steam Methane Reforming, Partial Oxidation of Oil, Coal Gasification, Electrolysis of Water) and by End User (Chemical, Petroleum Refining, Metal Processing, Automotive Fuel, Glass Industry, Edible Fats and Oils, Energy, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023”. According to the report, global hydrogen market was valued at approximately USD 129.25 billion in 2017 and is expected to generate revenue of around USD 183.34 billion by end of 2023, growing at a CAGR of around 6.00% between 2017 and 2023. 

Hydrogen is an important carrier of energy that provides support for the future requirement for clean energy across the world. It will also sustain the initiative of reduction of greenhouse emissions and dependence on fossil fuels for energy and this is expected to drive hydrogen market growth over the forecast period. Furthermore, growing number of technological developments, increasing preference for onsite hydrogen generation systems, growing use of hydrogen in various industry sectors and the introduction of green production technologies will further upsurge the demand for hydrogen in the coming years. 

Browse through 68 Tables & 26 Figures spread over 110 Pages and in-depth TOC on "Global Hydrogen Market Share, Demand, Growth, Analysis and Forecast 2017 – 2023”.

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Production of electrolytic hydrogen is associated with high costs, which has resulted in growing emphasis to enhance the production process. Developments which will have a positive impact on process efficiency, for instance, advancement in membrane and catalyst effectiveness, are expected to lower the costs associated with the production of electrolytic hydrogen in the future. Furthermore, the current focus is directed towards hydrogen, as it is a clean alternative fuel which gives rise to insignificant greenhouse gas emissions. Focus on production techniques such as reduction of overvoltage oxygen evolution reaction (OER) in electrolyzers and development of high-pressure electrolyzers is predicted to positively impact hydrogen market growth over the forecast period. 

The hydrogen market is segmented on the basis of delivery mode into captive and merchant. The captive segment is expected to dominate the delivery mode in hydrogen market over the forecast timeframe. 

Browse the full "Hydrogen Market by Delivery Mode (Captive, Merchant), by Technology (Steam Methane Reforming, Partial Oxidation of Oil, Coal Gasification, Electrolysis of Water) and by End User (Chemical, Petroleum Refining, Metal Processing, Automotive Fuel, Glass Industry, Edible Fats and Oils, Energy, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023" report at  https://www.zionmarketresearch.com/report/hydrogen-market

North America dominates the hydrogen market due to increasing adoption rate of novel technology and supportive government regulations for hydrogen in the region. Furthermore, North America was the largest regional market for steam methane reforming. Moreover, currently, there are a number of manufacturers using hydrogen fuel cells to power drones. Protonex has successfully tested flights of a drone powered by a hydrogen fuel cell system. Their hydrogen system was installed in Boeing Insitu’s ScanEagle drone, which has been used in both military and civilian applications in the U.S., including ocean surveillance.

Europe is the second largest regional market and is anticipated to show significant growth over the forecast period due to a reduction in primary energy consumption as well as emissions of greenhouse gases, pollutants, and particulates for heating and decentralized power production. In September 2016, the world’s first 4-seater Hydrogen plane (aptly called the HY4) took off for the first time from Stuttgart airport in Germany.

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The Asia-Pacific and Latin America market are projected to have the highest CAGR during the forecast period. Market growth is particularly expected in Brazil, Japan, India, and other emerging countries where the market penetration of advanced technology, is just a fraction of the market penetration in the U.S. For instance, the Japanese “ene-farm” cogeneration system is planning to introduce 1.4 million ene-farm systems by 2020 and 5.3 million by 2030. Their long-term plan is to replace natural gas pipelines with hydrogen pipelines. Such initiatives are expected to drive the demand for hydrogen in the future.  

The Middle East and Africa hold the least growth in comparison to other regions, due to lack of distribution & transportation infrastructure in the region which will restrain hydrogen market growth. Thus, all the aforementioned parameters are expected to propel the hydrogen market growth globally.

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Some of the key players in global hydrogen market include Air Liquide, The Linde Group, Air Products and Chemicals, Iwatani, Showa Denko K.K., Messer Group, Hydrogenics, Nel ASA, Southern Industrial Gas, Hy.Gear, Xebec Adsorption, ALLY HI-TECH, Ellenbarrie Industrial Gases, CLAIND, Bristol Gases – Concorde Corodex, Taiyo Nippon Sanso and Yateem Oxygen.  Major players are frequently engaged in mergers & acquisitions to retain their market share and diversify their product portfolio. 

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This report segments the global hydrogen market as follows:

Global Hydrogen Market: Delivery Mode Segment Analysis

  • Captive
  • Merchant 

Global Hydrogen Market: Technology Segment Analysis

  • Steam Methane Reforming
  • Partial Oxidation of Oil
  • Coal Gasification
  • Electrolysis of Water 

Global Hydrogen Market: End-User Segment Analysis

  • Chemical
  • Petroleum Refining 
  • Metal Processing
  • Automotive Fuel
  • Glass Industry
  • Edible Fats and Oils
  • Energy
  • Others 

Global Hydrogen Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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