A Complete Guide of Hydrogen Market [PDF Guide]
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The hydrogen market refers to the industry involved in the production, distribution, and use of hydrogen gas as an energy carrier or feedstock for various applications. Hydrogen is a versatile element that can be produced from a variety of sources and used in different sectors, including energy, transportation, industry, and residential applications.
The hydrogen market is experiencing significant growth and transformation due to several factors. One of the key drivers is the increasing focus on decarbonization and the transition to clean energy sources. Hydrogen is considered a clean fuel since its combustion or use in fuel cells only produces water vapor as a byproduct, with no greenhouse gas emissions. As countries and industries seek to reduce their carbon footprint, hydrogen is gaining attention as a potential solution.
Another driver of the hydrogen market is the advancement of renewable energy technologies, particularly in the field of electrolysis. Electrolysis is a process that uses electricity to split water into hydrogen and oxygen. As the cost of renewable electricity from sources like solar and wind continues to decrease, electrolysis becomes a more attractive and sustainable method of hydrogen production.
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Hydrogen Market size was valued at $3.8 billion in 2022, and is projected to reach $6.2 billion by 2030, growing at a CAGR of 6.0% from 2022 to 2030.
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Linde Group
Air Liquide
Air Products
Air Water
Taiyo Nippon Sanso
Messer Group
Yingde Gases