Hydrogen Market by Sector (Generation Type (Gray, Blue, Green), Storage (Physical, Material), Transportation (Long, Short)), Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Refinery, Ammonia, Methanol)), Region - Global Forecast to 2030

Abstract
The global hydrogen market is estimated to grow from USD 242.7 Billion in 2023 to USD 410.6 Billion by 2030; it is expected to record a CAGR of 7.8% during the forecast period. Governments a are enacting favourable regulations and offering financial incentives to boost the adoption of hydrogen technologies. These programmes include funding for research and development, subsidies for hydrogen production and infrastructure, and legislation that encourage the use of hydrogen in various industries. These type of initiatives attributed to the growth of hydrogen market.

“Gray Hydrogen: The largest segment in generation type of the hydrogen market, by sector “

Based on sector, the hydrogen market has been split into three segments: generation type, storage and transportation. These segmentes are bifurcated into the subsegments. By generation type, it offers gray hydrogen, blue hydrogen and green hydrogen. Blue hydrogen is expected to be the second largest segment followed by gray hydrogen. As countries and companies seek to decrease their carbon footprints, blue hydrogen provides a bridge solution that allows them to continue using current natural gas infrastructure while transitioning to a more sustainable energy source.

“Physical storage segment is expected to be the fastest growing segment during forecast period based on storage in by sector”

By storage, the hydrogen market has been bifurcated into physical and material-based storage. The physica storage segment is expected to lead the hydrogen market during the forecast period owing to increasing demand for for gaseous hydrogen storage tanks due to stringent regulations for cleaner fuel in oil refineries and rising demand for hydrogen in the fertilizer, chemical, and steel industries. Physical hydrogen storage is widely used in transportation, chemicals, oil refineries, and other end-use industries. South Korea, Japan, the US, France, and China have launched a roadmap for alternative fuels in the automotive & transportation industry. This is supported by increasing FCEVs and composite hydrogen storage tanks for transporting hydrogen via tankers and tube trailers.

“By application, the chemical & refinery segment is expected to be the largest segment during the forecast period.”

Based on application, the hydrogen market is segmented into energy, mobility, chemical & refinery and others. The chemical & refinery segment is expected to be the largest segment the hydrogen market during the forecast period owing to the rise in demand from the fertilizer industry. Also, The emerging hydrogen economy in the chemical industry is supported by policymaker initiatives at the European and country level, estimating a required investment of € 430 billion by 2030. In North America, a significant rise is expected in methanol production. North American companies are forming strategic relations to strengthen methane and ammonia production. For instance, CF Industries Holdings, Inc. acquired a Waggaman ammonia production facility from Incitec Pivot Limited.

"Asia Pacific": The second-largest in the hydrogen market"

Asia Pacific is expected to have the second-largest market share in the hydrogen market between 2023–2030, followed by Europe and North America. Asia Pacific is one of the key markets for green technology adoption in order to satisfy government targets for lowering GHG emissions. Because of the commercial deployment of Japanese fuel cell micro-CHP products, Japan and South Korea have been significantly investing in fuel cell adoption since 2009. Over the last five years, investments in the energy sector have increased significantly, which is likely to benefit the hydrogen generation market. China and India are the world's most populous countries, and agricultural operations continue to play an important part in their economy.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects.

The distribution of primary interviews is as follows:
By Company Type: Tier 1- 55%, Tier 2- 25%, and Tier 3- 20%
By Designation: C-Level- 35%, Director Levels- 30%, and Others- 35%
By Region: North America- 25%, Europe- 35%, Asia-Pacific - 25 %, South America – 10%, Middle East & Africa – 5%.

Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The hydrogen market is dominated by a few major players that have a wide regional presence. The leading players in the hydrogen market are Linde plc (Ireland), Air products and Chemicals, Inc. (US), Air Liquide (France), Worthington Industries (US), Cryolor (France), Hexagon Purus (Norway), and NPROXX (Netherlands). The major strategy adopted by the players includes new product launches, contracts & agreements and, investments & expansions.

Research Coverage:
The report defines, describes, and forecasts the global hydrogen market by sector, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the hydrogen market.

Key Benefits of Buying the Report
•Increasing regulations concerning greenhouse gas emissions is the main factor driving the hydrogen market. Moreover, increasing efforts by governments for installation of hydrogen fueling stations and rising focus of government on achiveing net zero emissions targets by 2050 in the hydrogen market. Even though high production cost of green hydrogen is the major challenge faced by countries under hydrogen market.
•Product Development/ Innovation: The hydrogen market is witnessing significant product development and innovation, driven by the growing demand for hydrogen from industries. Companies are investing in the development of advanced hydrogen production technology that are specifically designed for the unique requirements of industry.
•Market Development: Linde plc has signed a long-term arrangement with Evonik, a well-known specialty chemicals firm, to supply green hydrogen. Linde will build, own, and operate a nine-megawatt alkaline electrolyzer facility on Jurong Island in Singapore under this arrangement. This plant's major output will be green hydrogen, which Evonik wants to employ in the synthesis of methionine, an essential element in animal feed.
•Market Diversification: Air Products & Chemicals, Inc. announced that it has been chosen as the hydrogen and technology provider for Alberta's first hydrogen fuel cell passenger vehicle fleet by Edmonton International Airport. Air Products will deploy a mobile hydrogen refueler at the airport to deliver hydrogen for the Toyota Mirai hydrogen fuel cell vehicle fleet.
•Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like include Linde plc (Ireland), Air products and Chemicals, Inc. (US), Air Liquide (France), Worthington Industries (US), Cryolor (France), Hexagon Purus (Norway), and NPROXX (Netherlands).

Content
Table of Contents

1INTRODUCTION27
1.1STUDY OBJECTIVES27
1.2MARKET DEFINITION28
1.3STUDY SCOPE28
1.3.1INCLUSIONS AND EXCLUSIONS28
TABLE 1HYDROGEN MARKET: INCLUSIONS AND EXCLUSIONS28
1.3.2MARKETS COVERED29
FIGURE 1HYDROGEN MARKET SEGMENTATION29
1.3.3GEOGRAPHICAL SCOPE29
1.3.4YEARS CONSIDERED30
1.4CURRENCY CONSIDERED30
1.5LIMITATIONS30
1.6STAKEHOLDERS31
1.7IMPACT OF RECESSION31
2RESEARCH METHODOLOGY32
2.1RESEARCH DATA32
FIGURE 2HYDROGEN MARKET: RESEARCH DESIGN33
2.2MARKET BREAKDOWN AND DATA TRIANGULATION34
FIGURE 3DATA TRIANGULATION METHODOLOGY34
2.2.1SECONDARY DATA35
2.2.1.1Key data from secondary sources35
2.2.2PRIMARY DATA35
2.2.2.1Key data from primary sources36
2.2.2.2Breakdown of primaries36
FIGURE 4BREAKDOWN OF PRIMARIES37
2.3MARKET SIZE ESTIMATION37
2.3.1BOTTOM-UP APPROACH38
FIGURE 5HYDROGEN MARKET: BOTTOM-UP APPROACH38
2.3.2TOP-DOWN APPROACH39
FIGURE 6HYDROGEN MARKET: TOP-DOWN APPROACH39
2.3.3DEMAND-SIDE ANALYSIS40
FIGURE 7METRICS CONSIDERED TO ANALYZE DEMAND FOR HYDROGEN40
2.3.3.1Assumptions for demand-side analysis40
2.3.3.2Calculations for demand-side analysis41
2.3.4SUPPLY-SIDE ANALYSIS42
FIGURE 8KEY STEPS CONSIDERED TO ASSESS SUPPLY OF HYDROGEN42
FIGURE 9HYDROGEN MARKET: SUPPLY-SIDE ANALYSIS43
2.3.4.1Assumptions and calculations for supply-side analysis43
FIGURE 10HYDROGEN MARKET SHARE ANALYSIS, 202243
2.4GROWTH FORECAST44
2.5IMPACT OF RECESSION44
3EXECUTIVE SUMMARY45
TABLE 2HYDROGEN MARKET SNAPSHOT45
FIGURE 11BY SECTOR, GENERATION TYPE SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD46
FIGURE 12BY APPLICATION, CHEMICAL & REFINERY SEGMENT PROJECTED TO LEAD MARKET DURING FORECAST PERIOD46
FIGURE 13NORTH AMERICA DOMINATED HYDROGEN MARKET IN 202247
4PREMIUM INSIGHTS48
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDROGEN MARKET48
FIGURE 14GROWING NEED TO REDUCE GREENHOUSE GAS EMISSIONS FROM HYDROGEN PRODUCTION PROCESSES TO FUEL MARKET GROWTH DURING FORECAST PERIOD48
4.2HYDROGEN MARKET, BY REGION48
FIGURE 15HYDROGEN MARKET IN ASIA PACIFIC TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD48
4.3HYDROGEN MARKET, BY SECTOR49
FIGURE 16GENERATION TYPE TO DOMINATE MARKET IN 203049
4.4HYDROGEN MARKET, BY APPLICATION49
FIGURE 17CHEMICAL & REFINERY SEGMENT TO LEAD MARKET IN 203049
4.5NORTH AMERICA: HYDROGEN MARKET, BY APPLICATION & COUNTRY50
FIGURE 18TRANSPORTATION AND US DOMINATED NORTH AMERICAN HYDROGEN MARKET IN 202250
5MARKET OVERVIEW51
5.1INTRODUCTION51
5.2MARKET DYNAMICS51
FIGURE 19HYDROGEN MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES51
5.2.1DRIVERS52
5.2.1.1Tightening greenhouse gas emission regulations52
FIGURE 20GREENHOUSE GAS EMISSIONS, BY SECTOR, 202252
5.2.1.2Rising demand for low-emission fuel52
5.2.1.3Increased applications of hydrogen in fuel cell electric vehicles (FECVs)53
5.2.1.4Growing R&D related to green hydrogen production technologies53
5.2.2RESTRAINTS53
5.2.2.1High flammability associated with hydrogen53
5.2.2.2Availability of substitutes54
5.2.3OPPORTUNITIES54
5.2.3.1Rising focus of governments on achieving net zero emission targets by 205054
FIGURE 21CUMULATIVE EMISSION REDUCTION, BY MITIGATION MEASURE, 2021–205054
5.2.3.2Development of low-weight storage tanks for transportation55
5.2.3.3Government-led initiatives for developing hydrogen economy55
TABLE 3POLICIES BY MAJOR ECONOMIES TO STIMULATE HYDROGEN DEMAND55
5.2.3.4Government-led efforts for increasing installation of hydrogen fueling stations56
5.2.4CHALLENGES56
5.2.4.1Energy loss of hydrogen across value chain56
5.2.4.2High cost of composite material-based tanks and strict regulatory approvals56
5.2.4.3High cost associated with green hydrogen production57
5.2.4.4Integration of hydrogen into natural gas networks57
5.3TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS58
5.3.1REVENUE SHIFTS AND NEW REVENUE POCKETS FOR MANUFACTURERS58
FIGURE 22REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PLAYERS IN HYDROGEN MARKET58
5.4TRADE ANALYSIS58
5.4.1EXPORT SCENARIO58
TABLE 4EXPORT DATA FOR HS CODE 280410, BY COUNTRY, 2020–2022 (USD THOUSAND)58
FIGURE 23EXPORT DATA FOR TOP FIVE COUNTRIES, 2020–202259
5.4.2IMPORT SCENARIO59
TABLE 5IMPORT DATA FOR HS CODE 280410, BY COUNTRY, 2020–2022 (USD THOUSAND)59
FIGURE 24IMPORT DATA FOR TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND)59
5.5KEY CONFERENCES AND EVENTS, 2023–202460
TABLE 6HYDROGEN MARKET: DETAILED LIST OF CONFERENCES AND EVENTS60
5.6ECOSYSTEM MAPPING62
FIGURE 25HYDROGEN MARKET MAP62
5.7SUPPLY CHAIN ANALYSIS63
FIGURE 26HYDROGEN MARKET: SUPPLY CHAIN ANALYSIS63
TABLE 7HYDROGEN MARKET: ROLE OF KEY PLAYERS IN ECOSYSTEM63
5.8TECHNOLOGY ANALYSIS64
5.8.1HYDROGEN GENERATION TECHNOLOGIES64
5.8.2HYDROGEN STORAGE TECHNOLOGIES64
5.8.3HYDROGEN TRANSPORTATION TECHNOLOGIES65
5.9PRICING ANALYSIS65
5.9.1INDICATIVE PRICING ANALYSIS, BY HYDROGEN GENERATION65
TABLE 8HYDROGEN GENERATION COST, BY TECHNOLOGY66
5.9.2INDICATIVE PRICING ANALYSIS, BY HYDROGEN STORAGE66
TABLE 9HYDROGEN STORAGE AVERAGE SELLING PRICE, BY REGION66
5.9.3PRICING ANALYSIS, BY HYDROGEN TRANSPORTATION67
FIGURE 27INDICATIVE COST OF HYDROGEN TRANSPORTATION, BY TRANSPORTATION MODEL67
5.10PATENT ANALYSIS67
5.10.1LIST OF MAJOR PATENTS67
TABLE 10HYDROGEN MARKET: INNOVATIONS AND PATENT REGISTRATIONS67
5.11TARIFFS AND REGULATORY FRAMEWORK69
5.11.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS69
TABLE 11NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS69
TABLE 12EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS69
TABLE 13ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS70
5.11.2HYDROGEN GENERATION MARKET: REGULATIONS71
TABLE 14REGULATORY FRAMEWORK: HYDROGEN GENERATION MARKET, BY REGION71
5.12CASE STUDY ANALYSIS71
5.12.1ASAHI KASEI CORPORATION USES SAP LEONARDO FOR GREEN HYDROGEN PRODUCTION71
5.12.2NATIONAL RENEWABLE ENERGY LABORATORY AND ELECTRIC HYDROGEN COLLABORATE TO DEVELOP HIGH-PERFORMANCE ELECTROLYZER COMPONENTS72
5.12.3NPROXX HELPS ANGLO AMERICAN DEVELOP ZERO-EMISSION MINING VEHICLES AND STORE HYDROGEN COST-EFFECTIVELY72
5.13PORTER’S FIVE FORCES ANALYSIS73
FIGURE 28HYDROGEN MARKET: PORTER’S FIVE FORCES ANALYSIS73
TABLE 15HYDROGEN MARKET: PORTER’S FIVE FORCES ANALYSIS73
5.13.1THREAT OF NEW ENTRANTS74
5.13.2BARGAINING POWER OF SUPPLIERS74
5.13.3BARGAINING POWER OF BUYERS74
5.13.4THREAT OF SUBSTITUTES74
5.13.5INTENSITY OF COMPETITIVE RIVALRY74
5.14KEY STAKEHOLDERS AND BUYING CRITERIA75
5.14.1KEY STAKEHOLDERS IN BUYING PROCESS75
FIGURE 29INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION75
TABLE 16INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION75
5.14.2BUYING CRITERIA75
FIGURE 30BUYING CRITERIA FOR TOP THREE APPLICATIONS75
TABLE 17KEY BUYING CRITERIA, BY APPLICATION76
5.15HYDROGEN TRANSPORTATION TECHNOLOGY VS. DISTANCE76
5.16ROLE OF HYDROGEN IN ENERGY TRANSITION76
6HYDROGEN MARKET, BY SECTOR77
6.1INTRODUCTION78
FIGURE 31HYDROGEN MARKET, BY SECTOR, 202278
TABLE 18HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)78
6.2GENERATION TYPE79
TABLE 19GENERATION TYPE: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS)79
TABLE 20GENERATION TYPE: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)79
TABLE 21GENERATION TYPE: HYDROGEN MARKET, BY TYPE, 2021–2030 (THOUSAND METRIC TONS)80
TABLE 22GENERATION TYPE: HYDROGEN MARKET, BY TYPE, 2021–2030 (USD MILLION)80
6.2.1GRAY HYDROGEN80
6.2.1.1Low cost of production to fuel demand for gray hydrogen80
TABLE 23GRAY HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS)81
TABLE 24GRAY HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)81
6.2.2BLUE HYDROGEN81
6.2.2.1Rising demand for clean hydrogen to drive market81
TABLE 25BLUE HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS)82
TABLE 26BLUE HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)82
6.2.3GREEN HYDROGEN82
6.2.3.1Increasing focus on achieving net zero carbon emission targets to boost demand for green hydrogen82
TABLE 27GREEN HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS)83
TABLE 28GREEN HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)83
6.3STORAGE83
TABLE 29STORAGE: HYDROGEN MARKET, BY TYPE, 2021–2030 (USD MILLION)83
6.3.1PHYSICAL84
6.3.1.1Increasing demand for stationary applications to drive market84
TABLE 30PHYSICAL: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS)84
TABLE 31PHYSICAL: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)84
6.3.2MATERIAL-BASED85
6.3.2.1Greater reliability of material-based hydrogen storage technology to boost demand85
6.4TRANSPORTATION85
TABLE 32TRANSPORTATION: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS)85
TABLE 33TRANSPORTATION: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)85
TABLE 34TRANSPORTATION: HYDROGEN MARKET, BY TYPE, 2021–2030 (THOUSAND METRIC TONS)86
TABLE 35TRANSPORTATION: HYDROGEN MARKET, BY TYPE, 2021–2030 (USD MILLION)86
6.4.1LONG DISTANCE86
6.4.1.1Growing hydrogen infrastructure to strengthen market86
TABLE 36LONG DISTANCE: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS)86
TABLE 37LONG DISTANCE: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)87
TABLE 38LONG DISTANCE: HYDROGEN MARKET, BY TYPE, 2021–2030 (THOUSAND METRIC TONS)87
TABLE 39LONG DISTANCE: HYDROGEN MARKET, BY TYPE, 2021–2030 (USD MILLION)87
6.4.2SHORT DISTANCE87
6.4.2.1Rising demand for hydrogen for emergency responses to drive market87
TABLE 40SHORT DISTANCE: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS)88
TABLE 41SHORT DISTANCE: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)88
7HYDROGEN MARKET, BY APPLICATION89
7.1INTRODUCTION90
FIGURE 32HYDROGEN MARKET, BY APPLICATION, 202290
TABLE 42HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION)90
7.2ENERGY90
7.2.1EFFORTS TO DECARBONIZE GLOBAL ENERGY SYSTEMS TO DRIVE MARKET90
TABLE 43ENERGY: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)91
TABLE 44ENERGY: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION)91
7.2.2POWER GENERATION91
7.2.2.1Growing application of hydrogen in portable devices, backup power, and grid stabilization to benefit market91
7.2.3COMBINED HEAT AND POWER (CHP)92
7.2.3.1Efficient and sustainable approach to energy generation to strengthen market92
7.3MOBILITY92
7.3.1RAPID RISE IN DEMAND FOR FUEL CELL ELECTRIC VEHICLES TO DRIVE MARKET92
TABLE 45MOBILITY: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)92
7.4CHEMICAL & REFINERY93
7.4.1INCREASING DEMAND FOR HYDROGEN IN REFINERIES TO LOWER SULFUR CONTENT OF DIESEL TO BENEFIT MARKET93
TABLE 46CHEMICAL & REFINERY: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)93
TABLE 47CHEMICAL & REFINERY: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION)93
7.4.2PETROLEUM REFINERY94
7.4.2.1Growing need to reduce sulfur content in diesel to boost market94
7.4.3AMMONIA PRODUCTION94
7.4.3.1Increasing focus on sustainable ammonia production to fuel demand for hydrogen94
7.4.4METHANOL PRODUCTION94
7.4.4.1Rising application of methanol for transportation fuel and wastewater denitrification to strengthen market94
7.5OTHERS95
TABLE 48OTHER: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)95
8HYDROGEN MARKET, BY REGION96
8.1INTRODUCTION97
FIGURE 33ASIA PACIFIC MARKET EXPECTED TO RECORD HIGHEST CAGR DURING FORECAST PERIOD97
FIGURE 34HYDROGEN MARKET SHARE, BY REGION, 202298
8.1.1RECESSION IMPACT: INTRODUCTION98
TABLE 49HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION)98
8.2NORTH AMERICA99
FIGURE 35NORTH AMERICA: HYDROGEN MARKET SNAPSHOT99
8.2.1NORTH AMERICA: RECESSION IMPACT100
8.2.2BY SECTOR100
TABLE 50NORTH AMERICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)100
8.2.2.1By generation type100
TABLE 51NORTH AMERICA: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION)100
8.2.2.2By transportation101
TABLE 52NORTH AMERICA: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION)101
8.2.3BY APPLICATION101
TABLE 53NORTH AMERICA: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION)101
8.2.4BY COUNTRY101
TABLE 54NORTH AMERICA: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION)101
8.2.4.1US101
8.2.4.1.1Rising demand for hydrogen in petroleum refineries and fertilizer production to boost demand101
TABLE 55US: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)102
8.2.4.2Canada102
8.2.4.2.1Growing focus on developing sustainable hydrogen economy to benefit market102
TABLE 56CANADA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)103
8.2.4.3Mexico103
8.2.4.3.1Growing usage of alternative energy sources to drive market103
TABLE 57MEXICO: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)103
8.3ASIA PACIFIC103
FIGURE 36ASIA PACIFIC: HYDROGEN MARKET SNAPSHOT104
8.3.1ASIA PACIFIC: RECESSION IMPACT105
8.3.2BY SECTOR105
TABLE 58ASIA PACIFIC: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)105
8.3.2.1By generation type105
TABLE 59ASIA PACIFIC: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION)105
8.3.2.2By transportation105
TABLE 60ASIA PACIFIC: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION)105
8.3.3BY APPLICATION106
TABLE 61ASIA PACIFIC: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION)106
8.3.4BY COUNTRY106
TABLE 62ASIA PACIFIC: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION)106
8.3.4.1China106
8.3.4.1.1Favorable government initiatives to boost market106
TABLE 63CHINA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)107
8.3.4.2India107
8.3.4.2.1Growing ammonia consumption to strengthen market107
TABLE 64INDIA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)108
8.3.4.3Japan108
8.3.4.3.1National hydrogen strategies for emission reduction to boost market108
TABLE 65JAPAN: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)108
8.3.4.4Australia109
8.3.4.4.1Growing government investment in hydrogen plants to benefit market109
TABLE 66AUSTRALIA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)109
8.3.4.5South Korea109
8.3.4.5.1Increasing deployment of FCEVs to drive market109
TABLE 67SOUTH KOREA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)110
8.3.4.6Rest of Asia Pacific110
TABLE 68REST OF ASIA PACIFIC: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)110
8.4EUROPE111
8.4.1EUROPE: RECESSION IMPACT111
8.4.2BY SECTOR111
TABLE 69EUROPE: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)111
8.4.2.1By generation type111
TABLE 70EUROPE: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION)111
8.4.2.2By transportation112
TABLE 71EUROPE: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION)112
8.4.3BY APPLICATION112
TABLE 72EUROPE: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION)112
8.4.4BY COUNTRY112
TABLE 73EUROPE: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION)112
8.4.4.1Germany113
8.4.4.1.1Growing adoption of fuel cell electric vehicles to augment market size113
TABLE 74GERMANY: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)113
8.4.4.2France113
8.4.4.2.1Rising investments in renewable energy generation to benefit market113
TABLE 75FRANCE: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)114
8.4.4.3UK114
8.4.4.3.1Increasing focus on reducing natural gas imports to drive market114
TABLE 76UK: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)114
8.4.4.4Russia115
8.4.4.4.1Stringent government regulations to increase use of cleaner fuels to boost demand115
TABLE 77RUSSIA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)115
8.4.4.5Rest of Europe115
TABLE 78REST OF EUROPE: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)116
8.5MIDDLE EAST & AFRICA116
8.5.1MIDDLE EAST & AFRICA: RECESSION IMPACT116
8.5.2BY SECTOR116
TABLE 79MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)116
8.5.2.1By generation type117
TABLE 80MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION)117
8.5.2.2By transportation117
TABLE 81MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION)117
8.5.3BY APPLICATION117
TABLE 82MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION)117
8.5.4BY COUNTRY118
TABLE 83MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION)118
8.5.4.1Saudi Arabia118
8.5.4.1.1Rising demand for low sulfur fuel in transportation to drive market118
TABLE 84SAUDI ARABIA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)118
8.5.4.2UAE119
8.5.4.2.1Increasing use of hydrogen fuel for electricity generation to benefit market119
TABLE 85UAE: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)119
8.5.4.3South Africa119
8.5.4.3.1Growing use of hydrogen in mining industry to boost market119
TABLE 86SOUTH AFRICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)120
8.5.4.4Rest of Middle East & Africa120
TABLE 87REST OF MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)120
8.6SOUTH AMERICA120
8.6.1SOUTH AMERICA: RECESSION IMPACT121
8.6.2BY SECTOR121
TABLE 88SOUTH AMERICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)121
8.6.2.1By generation type121
TABLE 89SOUTH AMERICA: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION)121
8.6.2.2By transportation121
TABLE 90SOUTH AMERICA: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION)121
8.6.3BY APPLICATION122
TABLE 91SOUTH AMERICA: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION)122
8.6.4BY COUNTRY122
TABLE 92SOUTH AMERICA: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION)122
8.6.4.1Brazil122
8.6.4.1.1Rising demand for clean hydrogen in transportation sector to benefit market122
TABLE 93BRAZIL: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)123
8.6.4.2Argentina123
8.6.4.2.1Increasing oil refining activities to drive market123
TABLE 94ARGENTINA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)123
8.6.4.3Rest of South America124
TABLE 95REST OF SOUTH AMERICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION)124
9COMPETITIVE LANDSCAPE125
9.1OVERVIEW125
FIGURE 37KEY DEVELOPMENTS IN HYDROGEN MARKET, 2018–2023125
9.2MARKET SHARE ANALYSIS, 2022126
FIGURE 38MARKET SHARE ANALYSIS, 2022126
9.3MARKET EVALUATION FRAMEWORK, 2018–2023126
TABLE 96STRATEGIES ADOPTED BY KEY PLAYERS, 2018–2023126
9.4FIVE-YEAR REVENUE ANALYSIS OF TOP COMPANIES, 2018–2022127
FIGURE 39SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS, 2018–2022127
9.5COMPETITIVE SCENARIOS AND TRENDS128
9.5.1DEALS128
TABLE 97HYDROGEN MARKET: DEALS, 2018–2023128
9.5.2OTHERS129
TABLE 98HYDROGEN MARKET: OTHERS, 2022129
9.6HYDROGEN GENERATION MARKET: COMPANY EVALUATION MATRIX, 2022130
9.6.1STARS130
9.6.2EMERGING LEADERS130
9.6.3PERVASIVE PLAYERS130
9.6.4PARTICIPANTS130
FIGURE 40KEY COMPANY EVALUATION MATRIX, 2022131
TABLE 99COMPANY FOOTPRINT, BY GENERATION TYPE131
9.7HYDROGEN STORAGE MARKET: COMPANY EVALUATION MATRIX, 2022132
9.7.1STARS132
9.7.2EMERGING LEADERS132
9.7.3PERVASIVE PLAYERS132
9.7.4PARTICIPANTS132
FIGURE 41HYDROGEN STORAGE MARKET: KEY COMPANY EVALUATION MATRIX, 2022133
TABLE 100COMPANY FOOTPRINT, BY STORAGE133
9.8HYDROGEN TRANSPORTATION TANK: COMPANY EVALUATION MATRIX, 2022134
9.8.1STARS134
9.8.2EMERGING LEADERS134
9.8.3PERVASIVE PLAYERS134
9.8.4PARTICIPANTS134
FIGURE 42HYDROGEN MARKET: KEY COMPANY EVALUATION MATRIX, 2022135
TABLE 101COMPANY FOOTPRINT, BY TRANSPORTATION135
TABLE 102COMPANY FOOTPRINT, BY APPLICATION136
TABLE 103COMPANY FOOTPRINT, BY REGION137
10COMPANY PROFILES138
10.1HYDROGEN PRODUCERS138
(Business overview, Products/Solutions/Services offered, Recent developments, Deals, MnM view, Key strengths/Right to win, Strategic choices, and Weaknesses and competitive threats)*
10.1.1LINDE PLC138
TABLE 104LINDE PLC: COMPANY OVERVIEW138
FIGURE 43LINDE PLC: COMPANY SNAPSHOT139
TABLE 105LINDE PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED139
TABLE 106LINDE PLC: DEALS140
TABLE 107LINDE PLC: OTHERS141
10.1.2SHELL PLC142
TABLE 108SHELL PLC: COMPANY OVERVIEW142
FIGURE 44SHELL PLC: COMPANY SNAPSHOT143
TABLE 109SHELL PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED143
TABLE 110SHELL PLC: PRODUCT LAUNCHES144
TABLE 111SHELL PLC: DEALS144
TABLE 112SHELL PLC: OTHERS144
10.1.3AIR PRODUCTS AND CHEMICALS, INC.145
TABLE 113AIR PRODUCTS AND CHEMICALS, INC.: COMPANY OVERVIEW145
FIGURE 45AIR PRODUCTS AND CHEMICALS, INC.: COMPANY SNAPSHOT146
TABLE 114AIR PRODUCTS AND CHEMICALS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED146
TABLE 115AIR PRODUCTS AND CHEMICALS, INC.: DEALS147
TABLE 116AIR PRODUCTS AND CHEMICALS, INC.: OTHERS149
10.1.4CHEVRON CORPORATION150
TABLE 117CHEVRON CORPORATION: COMPANY OVERVIEW150
FIGURE 46CHEVRON CORPORATION: COMPANY SNAPSHOT151
TABLE 118CHEVRON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED151
TABLE 119CHEVRON CORPORATION: DEALS152
10.1.5AIR LIQUIDE153
TABLE 120AIR LIQUIDE: COMPANY OVERVIEW153
FIGURE 47AIR LIQUIDE: COMPANY SNAPSHOT154
TABLE 121AIR LIQUIDE: PRODUCTS/SOLUTIONS/SERVICES OFFERED154
TABLE 122AIR LIQUIDE: PRODUCT LAUNCHES155
TABLE 123AIR LIQUIDE: DEALS155
10.1.6SAUDI ARABIAN OIL CO.157
TABLE 124SAUDI ARABIAN OIL CO.: COMPANY OVERVIEW157
FIGURE 48SAUDI ARABIAN OIL CO.: COMPANY SNAPSHOT158
TABLE 125SAUDI ARABIAN OIL CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED158
10.1.7UNIPER SE159
TABLE 126UNIPER SE: COMPANY OVERVIEW159
FIGURE 49UNIPER SE: COMPANY SNAPSHOT160
TABLE 127UNIPER SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED160
10.2HYDROGEN STORAGE PROVIDERS161
10.2.1WORTHINGTON INDUSTRIES INC.161
TABLE 128WORTHINGTON INDUSTRIES INC.: COMPANY OVERVIEW161
FIGURE 50WORTHINGTON INDUSTRIES INC.: COMPANY SNAPSHOT162
TABLE 129WORTHINGTON INDUSTRIES INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED162
TABLE 130WORTHINGTON INDUSTRIES: PRODUCT LAUNCHES163
TABLE 131WORTHINGTON INDUSTRIES: DEALS163
TABLE 132WORTHINGTON INDUSTRIES: OTHERS164
10.2.2INOX INDIA LIMITED165
TABLE 133INOX INDIA LIMITED: COMPANY OVERVIEW165
TABLE 134INOX INDIA LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED165
10.2.3CRYOLOR167
TABLE 135CRYOLOR: COMPANY OVERVIEW167
TABLE 136CRYOLOR: PRODUCTS/SOLUTIONS/SERVICES OFFERED167
10.2.4PRAGMA INDUSTRIES168
TABLE 137PRAGMA INDUSTRIES: COMPANY OVERVIEW168
TABLE 138PRAGMA INDUSTRIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED168
10.2.5BNH GAS TANKS169
TABLE 139BNH GAS TANKS: COMPANY OVERVIEW169
TABLE 140BNH GAS TANKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED169
10.3OTHER HYDROGEN STORAGE PLAYERS170
10.3.1OXYGEN SERVICE COMPANY, INC.(OSC)170
10.4HYDROGEN TRANSPORTATION TANK PROVIDERS171
10.4.1BAYOTECH171
TABLE 141BAYOTECH: COMPANY OVERVIEW171
TABLE 142BAYOTECH: PRODUCTS/SOLUTIONS/SERVICES OFFERED171
10.4.2HEXAGON PURUS172
TABLE 143HEXAGON PURUS: COMPANY OVERVIEW172
FIGURE 51HEXAGON PURUS: COMPANY SNAPSHOT172
TABLE 144HEXAGON PURUS: PRODUCTS/SOLUTIONS/SERVICES OFFERED173
TABLE 145HEXAGON PURUS: DEALS173
TABLE 146HEXAGON PURUS: OTHERS174
10.4.3NPROXX175
TABLE 147NPROXX: COMPANY OVERVIEW175
TABLE 148NPROXX: PRODUCTS/SOLUTIONS/SERVICES OFFERED175
TABLE 149NPROXX: PRODUCT LAUNCHES175
TABLE 150NPROXX: DEALS176
10.4.4LUXFER GAS CYLINDERS178
TABLE 151LUXFER GAS CYLINDERS: COMPANY OVERVIEW178
TABLE 152LUXFER GAS CYLINDERS: PRODUCTS/SOLUTIONS/SERVICES OFFERED178
TABLE 153LUXFER GAS CYLINDERS: DEALS178
10.4.5CHART INDUSTRIES180
TABLE 154CHART INDUSTRIES: COMPANY OVERVIEW180
TABLE 155CHART INDUSTRIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED180
10.4.6QUANTUM FUEL SYSTEMS LLC.181
TABLE 156QUANTUM FUEL SYSTEMS LLC.: COMPANY OVERVIEW181
TABLE 157QUANTUM FUEL SYSTEMS LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED181
TABLE 158QUANTUM FUEL SYSTEMS LLC.: DEALS181
10.5OTHER HYDROGEN TRANSPORTATION TANK PLAYERS183
10.5.1AMS COMPOSITE CYLINDERS183
10.5.2WELDSHIP CORPORATION183
*Details on Business overview, Products/Solutions/Services offered, Recent developments, Deals, MnM view, Key strengths/Right to win, Strategic choices, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
11APPENDIX184
11.1INSIGHTS FROM INDUSTRY EXPERTS184
11.2DISCUSSION GUIDE185
11.3KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL188
11.4CUSTOMIZATION OPTIONS190
11.5RELATED REPORTS190
11.6AUTHOR DETAILS191