About Hydrogen Energy-
Hydrogen energy is emerging as a clean and versatile contender in the quest for sustainable energy solutions. Its potential benefits are diverse, spanning from reduced greenhouse gas emissions and cleaner air to increased energy independence and improved fuel efficiency. The current state of the hydrogen energy market is a mixed bag. While significant growth potential and momentum exist, significant challenges remain. Overcoming these hurdles will require sustained investment, technological advancements, robust policy frameworks, and public support to unlock the full potential of hydrogen as a clean and sustainable energy solution. As technology continues to improve, infrastructure expands, and policies become more supportive, hydrogen is poised to play a crucial role in the transition towards a clean and sustainable energy future.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 6.65% |
The hydrogen energy market is expected to experience significant growth in the coming decades, driven by factors like climate change concerns, declining costs, and increasing government support. The competitive landscape is likely to evolve as new technologies emerge, and collaboration and partnerships will play a key role in shaping the future of this promising market. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Hydrogen Energy- market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Chart Industries, Inc. (United States), Nikola Motor Company (United States), Hyundai Motor Group (South Korea)., Linde plc (Ireland), Air Liquide S.A. (France), Plug Power Inc. (United States), Nel ASA (Norway), McPhy Energy SA (France), Cummins Inc. (United States) and ITM Power PLC (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Enapter GmbH (Germany), Bloom Energy Corporation (United States), Sunfire GmbH (Germany), Thyssenkrupp nucera GmbH (Germany) and IHI Corporation (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Hydrogen Energy- market by , Application (Transportation, Power generation, Oil Refining, Steel Production, Chemicals & Refinery and Others) and Region.
On the basis of geography, the market of Hydrogen Energy- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Storage Form, the sub-segment i.e. Pressurized Gas will boost the Hydrogen Energy- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by State, the sub-segment i.e. Solid will boost the Hydrogen Energy- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Industrial will boost the Hydrogen Energy- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing demand for hydrogen industries such as metal treatment, food processing, and petroleum refining
Market Growth Drivers:
Increasing need for energy conservation and Reducing consumption of conventional petroleum fuels
Challenges:
Competition with Existing Technologies
Restraints:
Efficiency of hydrogen production and utilization is still lower than fossil fuels, requiring further advancements in technology.
Opportunities:
Rising in demand for hydrogen energy storage & utilizing excess electric energy and Growing demand for the hydrogen fuel cell
Market Leaders and their expansionary development strategies
In December 2023, Hyzon Motors and Ballard Power Systems partnered to develop fuel cell trucks powered by green hydrogen in New York. The goal is to Develop and deploy fuel cell trucks powered by green hydrogen produced at a dedicated facility in New York
In September 2023, Iberdrola launched a green hydrogen hub in Spain. It represents a significant milestone in the country's clean energy transition. This project features an impressive integration of renewable power generation (solar and wind), electrolysis for hydrogen production, and storage facilities, showcasing a comprehensive approach to green hydrogen development.
Key Target Audience
Government and policymakers, Investors and financiers, Market Research and Consultancy Firm and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.