Industrial Hydrogen Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

PUBLISHED: June 14, 2024

PAGES: 101 Pages

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Description

The industrial hydrogen market in the US, Europe, and Asia is anticipated to witness substantial growth, driven by the diverse end-use applications of industrial hydrogen in sectors such as electronics, metal fabrication, pharmaceuticals, and fertilizers. The burgeoning LED and semiconductor industries are expected to generate significant growth opportunities, further enhancing revenue prospects in the market.

Impact of COVID-19 on Market Dynamics

The COVID-19 pandemic has significantly impacted the manufacturing and production sectors, stalling progress in the US, Europe, and Asia. This stagnation has led to decreased demand, affecting the growth rate of the industrial hydrogen market. However, as pandemic-related restrictions ease and activities resume, the market is expected to recover and return to its usual business operations.

Cost-Effectiveness and Technological Advancements

Market players are focusing on advanced methods to reduce production costs, driving competition within the industry. Manufacturers are exploring opportunities in the fuel sector to diversify their product portfolios and meet growing demand. Collaborations and partnerships are becoming prevalent as companies strive to enhance their market presence.

Investments in green hydrogen are gaining traction as companies aim to strengthen their positions in the global market. Key players in the industrial hydrogen market include Air Liquide, The Linde Group, Air Products & Chemicals Inc., Messer Group GmbH, and Praxair Inc.

Electrolysis Production Method to Gain Momentum

The Electrolysis production method segment is expected to expand at a higher rate over the forecast period. The electronics application segment is projected to experience the fastest growth in terms of value, driven by increasing demand from various end-use industries such as electronics, glass, metal production, welding, and metal fabrication. Onsite hydrogen generation systems and technological advancements that reduce overall hydrogen production costs are also contributing to market growth.

Despite the benefits, the high cost of hydrogen production via electrolysis compared to conventional methods poses a challenge for the sustained growth of the electrolytic hydrogen market.

Market Projections by Segmentation

The Electrolysis segment is forecasted to expand at the fastest rate in terms of revenue. The Conventional & Others segment is expected to hold a significant market value share, with substantial sales revenue anticipated by the end of the forecast period.

The Electronics segment is predicted to dominate the industrial hydrogen market, with a substantial market share and a high growth rate in terms of value. The Metal Production and Pharmaceuticals & Biotechnology segments are also expected to contribute significantly to market growth.

The Glass, Metal Production, and Welding & Metal Fabrication segments are estimated to collectively account for a considerable market volume share, creating significant opportunities in the industrial hydrogen market.

Regional Market Insights

In the US, the industrial hydrogen market is expected to expand at a higher rate than in Europe and Asia, driven by a high demand from various end-use industries. The rising demand from the electronics industry is a key growth driver for the US market.

In Europe, Germany is anticipated to experience a higher growth rate compared to the UK, owing to a strong economic outlook. The industrial hydrogen markets in Japan and South Korea are expected to expand significantly, supported by the strong presence of electronics and glass industries in these countries.

Key Market Players

Prominent producers of industrial hydrogen globally include Air Liquide, Air Products and Chemicals Inc., The Linde Group, Praxair Inc., and Messer Group GmbH. These companies are leveraging technological advancements and strategic collaborations to maintain a competitive edge in the market.

Key Market Segmentation

By Production Method

Electrolysis
Conventional & Others

By End-use

Chemicals
Electronics
Food & Beverage
Glass
Metal Production
Pharmaceutical & Biotechnology
Welding & Metal Fabrication
Others

By Region

U.K.
Germany
Japan
South Korea

1. Executive Summary

1.1. Global Industrial Hydrogen Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Industrial Hydrogen Market Outlook, 2018 - 2031

3.1. Global Industrial Hydrogen Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Electrolysis
  - 3.1.1.2. Conventional & Others
3.2. Global Industrial Hydrogen Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Chemicals
  - 3.2.1.2. Electronics
  - 3.2.1.3. Food & Beverage
  - 3.2.1.4. Glass
  - 3.2.1.5. Metal Production
  - 3.2.1.6. Pharmaceutical & Biotechnology
  - 3.2.1.7. Welding & Metal
  - 3.2.1.8. Fabrication
  - 3.2.1.9. Others
3.3. Global Industrial Hydrogen Market Outlook, by Region, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Industrial Hydrogen Market Outlook, 2018 - 2031

4.1. North America Industrial Hydrogen Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Electrolysis
  - 4.1.1.2. Conventional & Others
4.2. North America Industrial Hydrogen Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Chemicals
  - 4.2.1.2. Electronics
  - 4.2.1.3. Food & Beverage
  - 4.2.1.4. Glass
  - 4.2.1.5. Metal Production
  - 4.2.1.6. Pharmaceutical & Biotechnology
  - 4.2.1.7. Welding & Metal
  - 4.2.1.8. Fabrication
  - 4.2.1.9. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Industrial Hydrogen Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.2. U.S. Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.3. Canada Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.4. Canada Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Industrial Hydrogen Market Outlook, 2018 - 2031

5.1. Europe Industrial Hydrogen Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Electrolysis
  - 5.1.1.2. Conventional & Others
5.2. Europe Industrial Hydrogen Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Chemicals
  - 5.2.1.2. Electronics
  - 5.2.1.3. Food & Beverage
  - 5.2.1.4. Glass
  - 5.2.1.5. Metal Production
  - 5.2.1.6. Pharmaceutical & Biotechnology
  - 5.2.1.7. Welding & Metal
  - 5.2.1.8. Fabrication
  - 5.2.1.9. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Industrial Hydrogen Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.2. Germany Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.3. U.K. Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.4. U.K. Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.5. France Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.6. France Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.7. Italy Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.8. Italy Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.9. Turkey Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.10. Turkey Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.11. Russia Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.12. Russia Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.13. Rest of Europe Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.14. Rest of Europe Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Industrial Hydrogen Market Outlook, 2018 - 2031

6.1. Asia Pacific Industrial Hydrogen Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Electrolysis
  - 6.1.1.2. Conventional & Others
6.2. Asia Pacific Industrial Hydrogen Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Chemicals
  - 6.2.1.2. Electronics
  - 6.2.1.3. Food & Beverage
  - 6.2.1.4. Glass
  - 6.2.1.5. Metal Production
  - 6.2.1.6. Pharmaceutical & Biotechnology
  - 6.2.1.7. Welding & Metal
  - 6.2.1.8. Fabrication
  - 6.2.1.9. Others
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Industrial Hydrogen Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.2. China Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.3. Japan Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.4. Japan Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.5. South Korea Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.6. South Korea Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.7. India Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.8. India Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.9. Southeast Asia Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.10. Southeast Asia Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.11. Rest of Asia Pacific Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.12. Rest of Asia Pacific Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Industrial Hydrogen Market Outlook, 2018 - 2031

7.1. Latin America Industrial Hydrogen Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Electrolysis
  - 7.1.1.2. Conventional & Others
7.2. Latin America Industrial Hydrogen Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Industrial Hydrogen Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.2. Brazil Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.3. Mexico Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.4. Mexico Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.5. Argentina Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.6. Argentina Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.7. Rest of Latin America Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.8. Rest of Latin America Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Industrial Hydrogen Market Outlook, 2018 - 2031

8.1. Middle East & Africa Industrial Hydrogen Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Electrolysis
  - 8.1.1.2. Conventional & Others
8.2. Middle East & Africa Industrial Hydrogen Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Chemicals
  - 8.2.1.2. Electronics
  - 8.2.1.3. Food & Beverage
  - 8.2.1.4. Glass
  - 8.2.1.5. Metal Production
  - 8.2.1.6. Pharmaceutical & Biotechnology
  - 8.2.1.7. Welding & Metal
  - 8.2.1.8. Fabrication
  - 8.2.1.9. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Industrial Hydrogen Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.2. GCC Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.3. South Africa Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.4. South Africa Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.5. Egypt Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.6. Egypt Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.7. Nigeria Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.8. Nigeria Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Industrial Hydrogen Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Industrial Hydrogen Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Manufacturer vs by End Use Heatmap
9.2. Company Market Share Analysis, 2024
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Air Liquide
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. Linde plc (formerly Linde AG)
- 9.4.3. Air Products and Chemicals, Inc.
- 9.4.4. (now part of Linde plc)
- 9.4.5. Hydrogenics Corporation (a subsidiary of Cummins Inc.)
- 9.4.6. Nel ASA
- 9.4.7. McPhy Energy S.A.
- 9.4.8. Plug Power Inc.
- 9.4.9. ITM Power plc
- 9.4.10. Ballard Power Systems Inc.
- 9.4.11. Mitsubishi Power, Ltd.
- 9.4.12. Iwatani Corporation
- 9.4.13. Taiyo Nippon Sanso Corporation
- 9.4.14. Green Hydrogen Systems