Market Research Report
Global Hydrogen Market - Analysis By Distribution Type, Production Type, End User, By Region, By Countries (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)
|Published by||Azoth Analytics||Product code||968124|
|Published||Content info||200 Pages
Delivery time: 2-3 business days
|Global Hydrogen Market - Analysis By Distribution Type, Production Type, End User, By Region, By Countries (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)|
|Published: October 31, 2020||Content info: 200 Pages||
According to Azoth Analytics research report, the Global Hydrogen Market is projected to display significant growth represented by a CAGR of 5.25% during 2020 - 2025. The Global Hydrogen Market was valued at USD 151.80 Billion in the year 2019 with Asia Pacific leading the regional market share. Market developments in North America and the Asian countries like China, India, Japan and South Korea expected to facilitate growth of the hydrogen market in the next 10-years.
The Hydrogen market is expected to grow on the back of the aggressive strategy employed by international community to tackle climate change on the backdrop of Paris Climate Conference of 2015 and growing level of toxic element in the air. Technology advancement in production and distribution of Hydrogen will leave a positive impact on the demand of hydrogen.
Under the segments, Production Type, Natural Gas is witnessing rising demand as cost of producing the hydrogen using natural gas act as a feedstock is very low, nearly 60% of hydrogen is produced from natural gas using Steam methane reforming process(SMR). Both Coal and Natural gas are prominent source of energy for hydrogen production and there are significant amount of carbon dioxide in the environment, thus production of hydrogen gas is also responsible for green house gas emission.
Refineries have emerged as the most significant end-user of hydrogen gas as hydrogen is used as a feedstock that transforms fuel into a number of value added products. Also, the demand of hydrogen for deduplication of petroleum product will witness rapid growth with strict laws by government to reduce the quantity of sulphur from petroleum product.