Hydrogen Market Size, Growth, Trends, Analysis & Forecast, 2030

NEW YORK - July 21, 2022 - PRLog -- According to ChemAnalyst report, "Global Hydrogen Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030", the demand for Hydrogen in the forecast period is projected to grow at a healthy CAGR of around 7.95 per cent on the back of rising awareness for deployment of renewable energy resources and increasing number of government initiatives to support the green Hydrogen movement to safeguard the concerns regarding consistent environmental degradation. In addition, increasing usage of Hydrogen as an industrial fuel in substitute of the ones emitting high sulfur and carbon content is contributing well to upscale its demand in the coming years. For a long-term full-fledged goal, it will require Hydrogen as an alternative to support the deep decarbonation idea.

Hydrogen is a flammable gas with slight carbon emission and find applications in various domains such as production of chemical derivatives, in building and construction by blending into pre natural gas networks, followed by power generation and transport. Presently, natural gas followed by coal are the prime feedstocks being utilized for the production of Hydrogen. Hydrogen is not just regarded as an energy source but a carrier of chemical energy. It is viewed as a highly versatile compound since it can be produced from various energy sources such as natural gas, coal, biomass, wind, hydroelectric power etc., and and can also be utilized to make diverse fuel derivatives like synthetic liquid fuels, methane, ammonia, methanol and others.

Nowadays, Hydrogen is being produced using diverse technology however, majority of Hydrogen is still being extracted from fossil fuels. Presently, natural gas followed by coal are the prime feedstocks being utilized for the production of Hydrogen. Just 0.1 per cent of Hydrogen globally is produced via the electrolytic process. Depending upon the three major routes of production it is categorized as green, blue, and grey Hydrogen. Green Hydrogen is mainly produced by renewable electricity or nuclear energy, blue Hydrogen is produced via steam reforming method using steam and biomass through carbon capture, storage, and utilization whereas the production of grey Hydrogen is undertaken by the same method but without carbon capture. Grey Hydrogen thus accounts for a wide share of present production capacity.

Read Full Report Here: https://www.chemanalyst.com/industry-report/hydrogen-market-277

Key Players:

• Air Liquide,
• Air Products and Chemicals,
• The Linde Group,
• Iwatani Corporation,
• Messer Group,
• Taiyo Nippon Sanso,
• Hydrogenics Corporation,
• Erredue,
• Claind,
• Ballard Power Systems,
• FuelCell Energy,
• Showa Denko,
• Ally Hi-Tech,
• Teledyne Energy Systems