About Industrial Hydrogen
Industrial hydrogen is widely used across various industries from petroleum to metal, glass, semiconductors, etc. for refining and manufacturing of fertilizers. The increasing initiative of the government towards the production of low-carbon emission fuels and green hydrogen will accelerate the growth of industrial hydrogen. The hydrogen can be produced either from renewable sources or fossil fuels or coal. The upsurging demand for hydrogen in the industries has led manufacturers to adopt renewable sources, new technologies, and methods to reduce carbon emissions during the hydrogen production process. Other than petroleum and agrochemicals, it can also be used in the food processor to turn unsaturated fats into saturated oils and fats and prevent the oxidation effect during glass manufacturing.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.66% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Linde plc (Ireland), Air Products & Chemicals (United States), Air Liquide (France), Reliance Industries Ltd (India), Universal Industrial Gases, Inc. (Nucor) (United States) and Messer Group (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Industrial Hydrogen market by Type (Electrolytic Hydrogen and Conventional Hydrogen), Application (Petroleum Refinery, Treating Metals, Food Processing, Agrochemicals, Semiconductor Electronics and Others) and Region.
On the basis of geography, the market of Industrial Hydrogen has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Liquid will boost the Industrial Hydrogen market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Purity, the sub-segment i.e. 99% will boost the Industrial Hydrogen market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Popularity of Electrolysis Method for Green Hydrogen Production
Market Growth Drivers:
Surging Demand for Hydrogen in the Petroleum Refineries to Lower Sulfur Content of Fuels and High Adoption of Industrial Hydrogen in Ammonia, Methanol, and Steel Production
Challenges:
Availability of Other Alternatives of Substitutes of Hydrogen in the Market
Restraints:
High Production Cost and Difficulty in Storage and Transportation of Industrial Hydrogen
Opportunities:
Need for Hydrogen-based Fuels in the Shipping and Aviation Due to Availability of Limited Low Carbon Fuel Option
Market Leaders and their expansionary development strategies
In 2020, Plug Power, Inc., a leading provider of hydrogen engines and fueling solutions completed the acquisition of United Hydrogen Group Inc. and Giner ELX with the aim of becoming the largest green hydrogen generation in the US. The United Hydrogen Group is the largest privately-held merchant hydrogen producer and Giner ELX has the most experienced teams in the world in PEM electrolysis. The acquisition will enhance Plug Power’s position in the hydrogen industry with capabilities in the generation, liquefaction, and distribution of hydrogen fuel across various industries.
In December 2023, SANY Hydrogen, the hydrogen energy subsidiary of SANY, has announced the grand launch of the world’s largest single hydrogen electrolyzer. The new S-series square electrolyzer can produce 3,000 standard cubic meters of hydrogen per hour using renewable electricity. This milestone accelerates the adoption of clean energy technologies by industries and marks progress in SANY's efforts to fuel the shift to greener solutions.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Industrial Hydrogen Manufacturers & Suppliers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.