Global market research leader, Meticulous Research®, has recently released a cutting-edge research report titled ‘Blue Hydrogen Market by Generation Process (Steam Methane Reforming, Autothermal Reforming), Energy Source (Coal, Methane), Application (Fueling, Feedstock), End User (Transportation, Chemical Production), and Geography - Global Forecast to 2030.’
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According to the latest findings by Meticulous Research®, the blue hydrogen market is poised to soar to $29.4 billion by 2030, exhibiting a remarkable CAGR of 13.8% throughout the forecast period. This surge is primarily propelled by the escalating demand for blue hydrogen in chemical production, buoyed by governmental initiatives to decarbonize the chemical manufacturing sector. Nevertheless, challenges persist, notably in terms of energy loss during blue hydrogen production. Counteracting this restraint, the market shows promise with the ongoing development of blue hydrogen production technologies, albeit players grapple with the integration of blue hydrogen into natural gas networks. A notable trend observed is the increasing adoption of carbon capture utilization and storage (CCUS) technology in the blue hydrogen market.
This comprehensive report delves into the segmentation of the blue hydrogen market, covering generation processes such as steam methane reforming, autothermal reforming, gasification, and partial oxidation. In 2023, the steam methane reforming segment is expected to dominate the market share, fueled by its adoption in diverse applications like e-mobility, chemical production, and power generation. However, the gasification segment is projected to witness the highest CAGR during the forecast period, driven by its cost-effectiveness in blue hydrogen production and the surging demand for low-carbon hydrogen in industrial applications.
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The energy source segment is segmented into coal, methane, and water, with methane expected to hold the largest market share in 2023, owing to its abundant availability and utilization in steam methane reforming and autothermal reforming. Furthermore, the application segment encompasses fueling, feedstock, and other applications, with the feedstock segment leading in 2023, driven by the increasing adoption of blue hydrogen in chemical production.
In terms of end-user segmentation, the chemical production segment is anticipated to claim the largest market share in 2023, attributed to the growing adoption of blue hydrogen for emission reduction and its use in sustainable methanol and ammonia production. Conversely, the transportation segment is poised to register the highest CAGR during the forecast period, fueled by the rising demand for blue hydrogen to reduce carbon emissions and the increasing adoption of clean energy alternatives in various transportation applications.
Geographically, the Asia-Pacific region is projected to dominate the blue hydrogen market in 2023, owing to the increasing adoption of clean energy solutions, government initiatives, and substantial investments in blue hydrogen production to curtail emissions. This region is poised to witness the highest CAGR during the forecast period.
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Key Industry Players:
Leading the charge in the blue hydrogen market are key players including Matheson Tri-Gas, Inc. (U.S.), Shell plc (U.K.), Linde GmbH (Germany), L’AIR LIQUIDE S.A. (France), Air Products and Chemicals Inc. (U.S.), Uniper SE (Germany), ATCO Ltd. (Canada), Suncor Energy Inc. (Canada), Equinor ASA (Norway), Saudi Arabian Oil Company (Saudi Arabia), Aker Solutions ASA (Norway), Topsoe A/S (Denmark), Technip Energies N.V (France), Ivys Adsorption Inc. (U.S.), and Woodside Energy Group Limited (Australia).
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