Hydrogen is a chemical compound that is widely used across various industries. Majorly it is used in the production of semiconductors, ammonia, carbon steels, methanol for polymer, and special metals. Moreover, it is also used in the electronic industry as a reducing agent and carrier gas. Furthermore, it is also used in refineries in the processing of intermediate oil products.

The global hydrogen market is estimated to be valued at US$ 148.9 Billion in 2021 and is expected to exhibit a CAGR of 2.2% over the forecast period (2021-2028).

Global Hydrogen Market: Opportunities

The growing use of hydrogen as a fuel in rockets as hydrogen is a highly flammable fuel is projected to bring profitable opportunities in the hydrogen market. Hydrogen is highly powerful for machines such as spaceships. Moreover, it is also an environmentally friendly and ideal choice of fuel when compared to other fuel sources. Furthermore, hydrogen is three times as powerful as gasoline and other fossil fuels. This factor is also projected to serve major growth opportunities.

Detailed Segmentation:

Global Hydrogen Market, By Production Source:

Natural gas

Coal

Other Hydrocarbons

Electrolysis & other sources

Global Hydrogen Market, By Application :

Refineries

Ammonia

Methanol and other Chemicals

Metals & Fabrication

Electronics

Food & Beverages

Glass & Ceramics

Global Hydrogen Market, By Mode Of Delivery:


Merchant

Captive

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Major Keyplayers: Linde AG, Air Products & Chemicals, Inc., Praxair, Inc., Air Liquide SA, and Airgas Inc.

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