Research Nester published a report titled “Merchant Hydrogen Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global merchant hydrogen market in terms of market segmentation by source, application, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global merchant hydrogen market is estimated to garner a CAGR of ~8 % over the forecast period, i.e., 2022–2030. The market is segmented on the basis of application into jet fuel, gasoline, metallurgy, drugs & medicines, and others, out of which, the gasoline segment is estimated to garner the major share by the end of 2030, owing to the increasing demand for gasoline in various end-user industries. Moreover, the drugs & medicines segment is also projected to gain a significant share during the forecast period, owing to the rising R&D activities in the direction.
The global merchant hydrogen market is forecasted to grow on the back of increasing applications of hydrogen, such as, treating metals, refining petroleum, and development of drugs. Moreover, increasing environmental awareness, regarding the carbon emissions caused by burning fossil fuels, is expected to augment the demand for hydrogen as fuel.
Regionally, the global merchant hydrogen market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of emergent oil & gas industry in the region. In fact, Canada is one of the largest producers of oil, globally, holding over 10% of the world’s share for oil wells. Furthermore, the presence of major pharmaceutical companies and rising innovation in the healthcare sector, combined with, high investment in obtaining hydrogen, is estimated to boost the market growth.
Rising Use of Hydrogen as a Green Fuel to Drive the Market Growth
In the Paris Agreement, in 2019, 189 countries joined the agreement to reduce carbon emission by 2030. This is a massive opportunity for the market growth.
Various government initiatives to reduce the carbon emission, curb ozone depletion and combat vehicular pollutions, generate opportunity for the adoption of a green fuel. Hydrogen is expected to be one of the major sustainable fuel alternatives in the upcoming years. This is projected to boost the market growth.
However, separation of hydrogen from its compounds, such as, water and hydrocarbons, is a costly process. This is expected to operate as key restraint to the growth of the market over the forecast period.
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https://www.researchnester.com/reports/merchant-hydrogen-market/3197
This report also provides the existing competitive scenario of some of the key players of the global merchant hydrogen market which includes company profiling of Cummins Inc., Airgas, Inc., Air Products Inc., Praxair Technology, Inc., Linde plc, L’air Liquide S.A., FuelCell Energy, Inc., Bloom Energy Corporation, Exxon Mobil Corporation, and General Hydrogen Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global merchant hydrogen market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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