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Hydrogen Market
Hydrogen Market Size, Share, Forecast, & Trends Analysis by Offering (Hydrogen Generation, Hydrogen Storage, Hydrogen Transportation), Application (Chemical Production, Automotive & Transportation, Power Generation, Industrial Manufacturing) - Global Forecast to 2031
Report ID:MRCHM - 1041125 Pages: 250 Jan-2024 Formats*: PDF Category: Chemicals and Materials Delivery: 24 to 72 HoursHydrogen Market Size & Forecast
The Hydrogen Market is expected to reach $288.3 billion by 2031, at a CAGR of 6.2% from 2024 to 2031. The growth of the hydrogen market is driven by the rising demand for hydrogen in the chemicals industry, progressive government initiatives toward the clean energy transition, and the growing use of hydrogen for power generation. Furthermore, the growing use of hydrogen in Fuel Cell Electric Vehicles (FCEVs) is expected to generate growth opportunities for the players operating in this market.
Hydrogen Market Growth Drivers
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Rising Demand for Hydrogen in the Chemicals Industry
The chemicals industry is critical to accelerating the shift toward a low-carbon and circular economy; however, it faces the significant challenge of achieving net-zero emissions. The chemicals industry needs solutions such as hydrogen, carbon capture, and electrification technologies to achieve its net-zero targets. The chemicals industry is the largest consumer of hydrogen. Hydrogen serves various applications in the chemicals industry, including ammonia and methanol production. In the chemicals industry, hydrogen is mostly used as feedstock to produce ammonia. Besides being used as a refrigerant, ammonia is commonly used to produce fertilizers, and plastics, among other products.
Thus, with the growing applications of hydrogen in the chemicals industry, several companies are implementing hydrogen facilities for chemical production, driving the hydrogen market. For instance, in July 2022, Shanghai Chemical Industry Park Industrial Gases Co., Ltd (China), a subsidiary of Air Products and Chemicals, Inc. (U.S.), implemented two hydrogen production units and related infrastructure in the Shanghai Chemical Industry Park (SCIP). These units were expected to provide significant environmental benefits, as they were designed to replace the supply from a third-party coal-based gasification unit, were to be equipped with CO2 capture and recycle technology, and be connected to the SCIPIG’s existing local network.
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Progressive Government Initiatives Toward the Clean Energy Transition
Hydrogen is the most abundant chemical element in nature. Hydrogen synthesized using renewable sources can replace fossil fuels as an alternative clean energy source. Hydrogen has the potential to decarbonize sectors such as power generation, aviation, and marine transportation. Green hydrogen is a clean energy source that only emits water vapor and, unlike coal and oil, leaves no residues in the air. Several governments have initiated the green hydrogen mission to utilize green hydrogen as a clean energy source for industrial applications. For instance, in January 2023, the Government of India launched the National Green Hydrogen Mission to make India a global hub for the production, utilization, and export of green hydrogen and its derivatives. Also, the Indian government announced the development of a green hydrogen production capacity of at least 5 MMT (Million Metric Tons) per annum with an associated renewable energy capacity addition of about 125 GW in the country. Thus, increasing government initiatives for green hydrogen production are driving the hydrogen market.
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Hydrogen Market Trends
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Increasing Use of Carbon Capture, Utilization, and Storage (CCUS) in Hydrogen Production
Carbon Capture, Utilization, and Storage (CCUS) is a technology that enables the reduction of carbon dioxide (CO2) emissions from large point sources such as power plants, refineries, hydrogen production plants, and other industrial facilities. CCUS technology has three stages—capturing, transporting, and storing CO2. The main methods for capturing CO2 are post-combustion, pre-combustion, and oxyfuel combustion.
CCUS offers the following benefits:
- Reduces emissions from industries such as steel, cement, and petrochemicals, which are difficult to decarbonize.
- Produces low-carbon electricity and hydrogen, which can be used to decarbonize various activities.
- Removes existing CO2 from the atmosphere.
CCUS can enable the production of clean hydrogen from natural gas or coal (which are sources of practically all hydrogen production), creating opportunities to bring low-carbon hydrogen into the market at low costs. Hence, the hydrogen produced using CCUS is more affordable than hydrogen produced through electrolysis. Also, the adoption of CCUS reduces carbon emissions from hydrogen production.
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Rising Use of Renewable Energy Sources for Hydrogen Production
Most of the hydrogen production relies on the use of fossil fuels, with negative impacts on the environment. Increasing government initiatives and policies to minimize the use of fossil fuels have decarbonized hydrogen production. Thus, there is a growing need to produce hydrogen from alternative renewable sources, including solar, wind, and geothermal energy, which can replace fossil fuels as the main energy source for hydrogen production. Hence, recent research has been focused on developing environmentally friendly energy sources for pollution-free hydrogen production.
Furthermore, as renewable energy sources are intermittent, robust hydrogen storage facilities are essential for the successful implementation of green hydrogen projects. For Instance, In January 2021, TotalEnergies SE (France) partnered with Engie SA (France) to design, develop, build, and operate a green hydrogen production site using 100% renewable electricity in France. The site has a total capacity of more than 100 MW. The 40 MW electrolyzer produces 5 tons of green hydrogen per day to meet the needs of the biofuel production process at Total’s La Mède biorefinery, avoiding 15,000 tons of CO2 emissions per year. This trend of using renewable energy sources for hydrogen production is expected to continue during the forecast period.
Hydrogen Market Opportunities
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Growing Use of Hydrogen in Fuel Cell Electric Vehicles (FCEVS)
Fuel Cell Electric Vehicles (FCEVs) use compressed hydrogen gas as fuel to generate electric power via fuel cells that transform hydrogen directly into electricity to power an electric motor. The distinguishing attribute and main benefit of these vehicles is that they produce zero harmful emissions when driven. FCEVs use hydrogen, which can be generated from various renewable sources. The use of hydrogen fuel cells helps reduce carbon emissions. With the increased focus on developing hydrogen production facilities, several automotive OEMs have started launching FCEVs. For instance, in June 2021, Jaguar Land Rover Automotive PLC (U.K.) developed a prototype hydrogen fuel cell electric vehicle based on the new Land Rover Defender. The FCEV concept is part of Jaguar Land Rover’s aim to achieve zero tailpipe emissions by 2036 and net zero carbon emissions across its supply chain, products, and operations by 2039. Thus, the growing focus on FCEV development is generating growth opportunities for the players operating in the hydrogen market.
Hydrogen Market Analysis: Key Findings
By Offering: The Hydrogen Generation Segment to Dominate the Hydrogen Market in 2024
Based on offering, the hydrogen market is segmented into hydrogen generation, hydrogen storage, and hydrogen transportation. In 2024, the hydrogen generation segment is expected to account for the largest share of ~69.0% of the hydrogen market. The large market share of this segment can be attributed to the increasing production of green hydrogen for fuel cell electric vehicles, the rising use of renewable sources such as wind, solar, and water to produce hydrogen, increasing government initiatives to decarbonized industrial applications such as chemical production and transportation, and the growing use of gray hydrogen to produce fertilizers.
Also, this segment is projected to record the highest growth rate of ~9.0% during the forecast period 2024–2031.
By Application: The Chemical Production Segment to Dominate the Hydrogen Market in 2024
Based on application, the hydrogen market is segmented into chemical production, automotive & transportation, industrial manufacturing, oil & gas, aerospace & defense, power generation, and other applications. In 2024, the chemical production segment is expected to account for the largest share of ~71.0% of the hydrogen market. The large market share of this segment can be attributed to the increasing demand for highly effective energy sources such as hydrogen among petroleum refineries, the rising demand for clean energy sources such as hydrogen in chemical production as an alternative to fossil fuels, the growing need to reduce greenhouse gas emissions in chemical production, and the increasing need of highly reactive hydrogen in chemical processes such as hydrogenation, dehydrogenation, and hydrocracking.
However, the automotive & transportation segment is projected to register the highest growth rate during the forecast period 2024–2031. This growth is driven by the increasing adoption of fuel cell electric vehicles, the growing need to use hydrogen to reduce dependency on fossil fuels, the increasing use of hydrogen in automotive & transportation applications to reduce CO2 emissions, the increasing adoption of hydrogen as a carbon-free fuel for better range, payloads and short refueling times, and the growing production of hydrogen from renewable energy sources such as water, wind, and solar, which offers a sustainable energy solution for transportation.
Geographic Analysis
In 2024, Asia-Pacific is expected to account for the largest share of ~37.0% of the hydrogen market, followed by Europe, North America, Latin America, and the Middle East & Africa. Asia-Pacific’s significant market share can be attributed to the growing potential to produce carbon-free hydrogen in the region, regional countries’ growing focus on generating hydrogen using Carbon Capture, Usage, and Storage (CCUS) technology, the growing emphasis on producing hydrogen using renewable energy, natural gas, and coal resources, the availability of abundant renewable energy sources such as wind, solar, water, and biomass, and increasing technological innovation, research & development, and hydrogen generation capacities.
Also, this market is expected to register the highest CAGR of ~7.5% during the forecast period.
Hydrogen Market: : Competitive Analysis
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years. Some of the key players operating in the hydrogen market are L’air Liquide S.A. (France), Air Products and Chemicals, Inc. (U.S.), Plug Power Inc. (U.S.), Linde plc (Ireland), Cummins Inc. (U.S.), Matheson Tri-Gas, Inc. (a subsidiary of Nippon Sanso Holdings Corporation) (U.S.), Shell Plc (U.K.), Hexagon Purus ASA (Norway), Fuelcell Energy, Inc. (U.S.), Chart Industries, Inc. (U.S.), Siemens Energy Ag (Germany), Iwatani Corporation (Japan), Luxfer Gas Cylinders (a subsidiary of Luxfer Holdings PLC) (U.S.), Messer Se & Co. Kgaa (Germany), Merck KGaA (Germany), Ballard Power Systems Inc. (Canada), Hanwha Corporation (South Korea), and NPROXX B.V. (Netherlands).
Hydrogen Industry Overview: Latest Developments from Key Industry Players
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In August 2023, Chart Industries, Inc. (U.S.) signed a memorandum of understanding (MoU) with 8 Rivers Capital, LLC (U.S.), a climate technology company, to offer Chart’s technologies and systems, such as liquefaction, refrigeration processes, liquefaction and refrigeration equipment technologies, cold boxes, heat exchangers, compressors, fans, liquid hydrogen storage tanks and trailers, and other associated equipment to complement and bring added value to 8 Rivers’ offerings.
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In May 2023, the Dutch government announced an investment of USD 8,241.45 million (EUR 7,500 million) in developing renewable hydrogen. More funding is dedicated to supporting domestic hydrogen production capacity.
- In August 2022, Plug Power Inc. (U.S.) signed an agreement with Amazon.com, Inc. (U.S.), an online retailer and web service provider, to provide liquid green hydrogen to help Amazon decarbonize its operations. Plug builds end-to-end green hydrogen ecosystems and provides integrated hydrogen solutions to its global customers.
- In March 2022, G+E GETEC Holding GmbH (Germany) signed an agreement with Abu Dhabi National Oil Company (ADNOC) (UAE) for the use of hydrogen produced in the United Arab Emirates (UAE). The transported hydrogen serves various end-use applications in Europe.
Hydrogen Market Research Summary:
|
Particulars |
Details |
|
Number of Pages |
250 |
|
Format |
|
|
Forecast Period |
2024–2031 |
|
Base Year |
2023 |
|
CAGR (Value) |
6.2% |
|
Market Size (Value) |
USD 288.3 Billion by 2031 |
|
Segments Covered |
By Offering
By Application
|
|
Countries Covered |
North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Netherlands, Spain, Sweden, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Singapore, Australia & New Zealand, Indonesia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, UAE, Israel, and Rest of the Middle East & Africa) |
|
Key Companies Profiled |
L’air Liquide S.A. (France), Air Products and Chemicals, Inc. (U.S.), Plug Power Inc. (U.S.), Linde plc (Ireland), Cummins Inc. (U.S.), Matheson Tri-Gas, Inc. (a subsidiary of Nippon Sanso Holdings Corporation) (U.S.), Shell Plc (U.K.), Hexagon Purus ASA (Norway), Fuelcell Energy, Inc. (U.S.), Chart Industries, Inc. (U.S.), Siemens Energy Ag (Germany), Iwatani Corporation (Japan), Luxfer Gas Cylinders (a subsidiary of Luxfer Holdings PLC) (U.S.), Messer Se & Co. Kgaa (Germany), Merck KGaA (Germany), Ballard Power Systems Inc. (Canada), Hanwha Corporation (South Korea), and NPROXX B.V. (Netherlands) |
Key questions answered in the hydrogen market report:
The Hydrogen Market refers to the production, storage, transportation, and use of hydrogen across various industries, such as chemicals, power generation, transportation, and manufacturing. Hydrogen is increasingly utilized as a clean energy source and as feedstock in the chemicals industry, contributing to the global shift toward decarbonization and sustainability.
As of 2024, the Hydrogen Market is projected to grow significantly, reaching $288.3 billion by 2031.
The market is expected to expand at a CAGR of 6.2% from 2024 to 2031, driven by increasing demand for clean energy solutions and government initiatives to reduce carbon emissions.
The Hydrogen Market size is forecast to be $288.3 billion by 2031, reflecting its growing role in energy transition and industrial applications.
Major players in the Hydrogen Market include L’air Liquide S.A. (France), Air Products and Chemicals, Inc. (U.S.), Plug Power Inc. (U.S.), Linde plc (Ireland), Cummins Inc. (U.S.), and Shell Plc (U.K.), among others.
Key trends include:
- Increasing use of Carbon Capture, Utilization, and Storage (CCUS) technology in hydrogen production.
- Growth in hydrogen production using renewable energy sources like wind and solar.
- Expansion of Fuel Cell Electric Vehicles (FCEVs) and green hydrogen projects globally.
Main drivers include:
- Rising demand in the chemicals industry for hydrogen as a feedstock.
- Government initiatives supporting clean energy and green hydrogen.
- Increasing use of hydrogen for power generation and transportation, particularly in FCEVs.
The Hydrogen Market is segmented by:
- Offering: Hydrogen generation, storage, and transportation.
- Application: Chemical production, automotive & transportation, industrial manufacturing, power generation, oil & gas, aerospace & defense, and other sectors.
The global outlook is highly positive, with Asia-Pacific, Europe, and North America being the key regions investing heavily in hydrogen production, supported by governmental policies and renewable energy integration.
The Hydrogen Market is expected to grow steadily at a CAGR of 6.2% from 2024 to 2031, with increased focus on decarbonization and renewable energy integration.
The market is projected to grow at a CAGR of 6.2% from 2024 to 2031.
In 2024, the Asia-Pacific region is expected to hold the largest share of ~37.0% of the Hydrogen Market due to the growing focus on clean energy, renewable hydrogen production, and technological advancements.
1. Introduction
1.1. Market Definition & Scope
1.2. Currency & Limitations
1.2.1. Currency
1.2.2. Limitations
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation Process
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecasting
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Market Analysis, by Offering
3.3. Market Analysis, by Application
3.4. Market Analysis, by Geography
3.5. Competitive Analysis
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Rising Demand for Hydrogen in the Chemicals Industry
4.2.1.2. Progressive Government Initiatives Toward the Clean Energy Transition
4.2.1.3. Growing Use of Hydrogen for Power Generation
4.2.2. Restraints
4.2.2.1. High Capital Costs of Implementing Hydrogen Storage and Transportation Facilities
4.2.3. Opportunities
4.2.3.1. Growing Use of Hydrogen in Fuel Cell Electric Vehicles (FCEVs)
4.2.4. Challenges
4.2.4.1. Safety Concerns Over Hydrogen Volatility
4.3. Key Trends
4.3.1. Increasing Use of Carbon Capture, Utilization, and Storage (CCUS) in Hydrogen Production
4.3.2. Rising Use of Renewable Energy Sources for Hydrogen Production
4.4. Case Studies
4.4.1. Case Study A
4.4.2. Case Study B
4.4.3. Case Study C
4.5. Value Chain Analysis
4.6. Regulatory Analysis
5. Global Hydrogen Market Assessment– by Offering
5.1. Overview
5.2. Hydrogen Generation
5.2.1. Gray Hydrogen
5.2.2. Blue Hydrogen
5.2.3. Green Hydrogen
5.2.4. Other Hydrogen Types
5.3. Hydrogen Storage
5.3.1. Tanks
5.3.2. Cylinders
5.3.3. Portable Storage
5.3.4. Other Hydrogen Storage Types
5.4. Hydrogen Transportation
5.4.1. Roadways/Railways
5.4.2. Pipelines
5.4.3. Marine Transportation
6. Global Hydrogen Market Assessment—by Application
6.1. Overview
6.2. Chemical Production
6.2.1. Ammonia Production
6.2.2. Methanol Production
6.2.3. Petroleum Refineries
6.2.4. Synfuel Production
6.3. Automotive & Transportation
6.4. Industrial Manufacturing
6.5. Oil & Gas
6.6. Aerospace & Defense
6.7. Power Generation
6.8. Other Applications
7. Hydrogen Market Assessment—by Geography
7.1. Overview
7.2. North America
7.2.1. U.S.
7.2.2. Canada
7.3. Europe
7.3.1. Germany
7.3.2. U.K.
7.3.3. France
7.3.4. Italy
7.3.5. Netherlands
7.3.6. Spain
7.3.7. Sweden
7.3.8. Rest of Europe
7.4. Asia-Pacific
7.4.1. China
7.4.2. Japan
7.4.3. India
7.4.4. South Korea
7.4.5. Singapore
7.4.6. Australia & New Zealand
7.4.7. Indonesia
7.4.8. Rest of Asia-Pacific
7.5. Latin America
7.5.1. Mexico
7.5.2. Brazil
7.5.3. Rest of Latin America
7.6. Middle East & Africa
7.6.1. Saudi Arabia
7.6.2. UAE
7.6.3. Israel
7.6.4. Rest of the Middle East & Africa
8. Competition Analysis
8.1. Overview
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.4. Competitive Dashboard
8.4.1. Industry Leaders
8.4.2. Market Differentiators
8.4.3. Vanguards
8.4.4. Emerging Companies
8.5. Market Rankings of Key Players
9. Company Profiles (Company Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis)
9.1. L’air Liquide S.A.
9.2. Air Products and Chemicals, Inc.
9.3. Plug Power Inc.
9.4. Linde plc
9.5. Cummins Inc.
9.6. Matheson Tri-Gas, Inc. (A Subsidiary of Nippon Sanso Holdings Corporation)
9.7. Shell Plc
9.8. Hexagon Purus ASA
9.9. Fuelcell Energy, Inc.
9.10. Chart Industries, Inc.
9.11. Siemens Energy Ag
9.12. Iwatani Corporation
9.13. Luxfer Gas Cylinders (A subsidiary of Luxfer Holdings PLC)
9.14. Messer Se & Co. Kgaa
9.15. Merck KGaA
9.16. Ballard Power Systems Inc.
9.17. Hanwha Corporation
9.18. NPROXX B.V.
(Note: SWOT analyses of the top five companies will be provided.)
10. Appendix
10.1. Available Customization
10.2. Related Reports
List of Tables
Table 1 Currency Conversion Rates (2018–2022)
Table 2 Global Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 3 Global Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 4 Global Hydrogen Generation Market, by Country/Region, 2022–2031 (USD Million)
Table 5 Global Gray Hydrogen Market, by Country/Region, 2022–2031 (USD Million)
Table 6 Global Blue Hydrogen Market, by Country/Region, 2022–2031 (USD Million)
Table 7 Global Green Hydrogen Market, by Country/Region, 2022–2031 (USD Million)
Table 8 Global Other Hydrogen Types Market, by Country/Region, 2022–2031 (USD Million)
Table 9 Global Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 10 Global Hydrogen Storage Market, by Country/Region, 2022–2031 (USD Million)
Table 11 Global Hydrogen Tanks Market, by Country/Region, 2022–2031 (USD Million)
Table 12 Global Hydrogen Cylinders Market, by Country/Region, 2022–2031 (USD Million)
Table 13 Global Hydrogen Portable Storage Market, by Country/Region, 2022–2031 (USD Million)
Table 14 Global Other Hydrogen Storage Types Market, by Country/Region, 2022–2031 (USD Million)
Table 15 Global Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 16 Global Hydrogen Transportation Market, by Country/Region, 2022–2031 (USD Million)
Table 17 Global Hydrogen Transportation Market: Roadways/Railways, by Country/Region, 2022–2031 (USD Million)
Table 18 Global Hydrogen Transportation Market: Pipelines, by Country/Region, 2022–2031 (USD Million)
Table 19 Global Hydrogen Transportation Market: Marine Transportation, by Country/Region, 2022–2031 (USD Million)
Table 20 Global Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 21 Global Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 22 Global Hydrogen Market for Chemical Production, by Country/Region, 2022–2031 (USD Million)
Table 23 Global Hydrogen Market for Ammonia Production, by Country/Region, 2022–2031 (USD Million)
Table 24 Global Hydrogen Market for Methanol Production, by Country/Region, 2022–2031 (USD Million)
Table 25 Global Hydrogen Market for Petroleum Refineries, by Country/Region, 2022–2031 (USD Million)
Table 26 Global Hydrogen Market for Synfuel Production, by Country/Region, 2022–2031 (USD Million)
Table 27 Global Hydrogen Market for Automotive & Transportation, by Country/Region, 2022–2031 (USD Million)
Table 28 Global Hydrogen Market for Industrial Manufacturing, by Country/Region, 2022–2031 (USD Million)
Table 29 Global Hydrogen Market for Oil & Gas, by Country/Region, 2022–2031 (USD Million)
Table 30 Global Hydrogen Market for Aerospace & Defense, by Country/Region, 2022–2031 (USD Million)
Table 31 Global Hydrogen Market for Power Generation, by Country/Region, 2022–2031 (USD Million)
Table 32 Global Hydrogen Market for Other Applications, by Country/Region, 2022–2031 (USD Million)
Table 33 Global Hydrogen Market, by Country/Region, 2022–2031 (USD Million)
Table 34 North America: Hydrogen Market, by Country, 2022–2031 (USD Million)
Table 35 North America: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 36 North America: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 37 North America: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 38 North America: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 39 North America: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 40 North America: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 41 U.S.: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 42 U.S.: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 43 U.S.: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 44 U.S.: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 45 U.S.: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 46 U.S.: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 47 Canada: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 48 Canada: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 49 Canada: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 50 Canada: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 51 Canada: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 52 Canada: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 53 Europe: Hydrogen Market, by Country/Region, 2022–2031 (USD Million)
Table 54 Europe: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 55 Europe: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 56 Europe: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 57 Europe: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 58 Europe: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 59 Europe: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 60 Germany: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 61 Germany: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 62 Germany: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 63 Germany: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 64 Germany: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 65 Germany: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 66 U.K.: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 67 U.K.: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 68 U.K.: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 69 U.K.: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 70 U.K.: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 71 U.K.: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 72 France: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 73 France: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 74 France: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 75 France: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 76 France: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 77 France: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 78 Italy: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 79 Italy: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 80 Italy: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 81 Italy: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 82 Italy: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 83 Italy: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 84 Netherlands: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 85 Netherlands: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 86 Netherlands: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 87 Netherlands: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 88 Netherlands: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 89 Netherlands: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 90 Spain: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 91 Spain: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 92 Spain: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 93 Spain: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 94 Spain: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 95 Spain: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 96 Sweden: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 97 Sweden: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 98 Sweden: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 99 Sweden: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 100 Sweden: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 101 Sweden: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 102 Rest of Europe: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 103 Rest of Europe: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 104 Rest of Europe: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 105 Rest of Europe: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 106 Rest of Europe: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 107 Rest of Europe: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 108 Asia-Pacific: Hydrogen Market, by Country/Region, 2022–2031 (USD Million)
Table 109 Asia-Pacific: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 110 Asia-Pacific: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 111 Asia-Pacific: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 112 Asia-Pacific: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 113 Asia-Pacific: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 114 Asia-Pacific: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 115 Japan: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 116 Japan: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 117 Japan: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 118 Japan: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 119 Japan: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 120 Japan: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 121 China: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 122 China: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 123 China: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 124 China: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 125 China: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 126 China: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 127 India: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 128 India: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 129 India: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 130 India: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 131 India: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 132 India: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 133 South Korea: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 134 South Korea: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 135 South Korea: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 136 South Korea: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 137 South Korea: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 138 South Korea: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 139 Singapore: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 140 Singapore: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 141 Singapore: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 142 Singapore: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 143 Singapore: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 144 Singapore: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 145 Australia & New Zealand: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 146 Australia & New Zealand: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 147 Australia & New Zealand: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 148 Australia & New Zealand: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 149 Australia & New Zealand: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 150 Australia & New Zealand: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 151 Indonesia: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 152 Indonesia: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 153 Indonesia: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 154 Indonesia: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 155 Indonesia: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 156 Indonesia: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 157 Rest of Asia-Pacific: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 158 Rest of Asia-Pacific: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 159 Rest of Asia-Pacific: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 160 Rest of Asia-Pacific: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 161 Rest of Asia-Pacific: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 162 Rest of Asia-Pacific: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 163 Latin America: Hydrogen Market, by Country/Region, 2022–2031 (USD Million)
Table 164 Latin America: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 165 Latin America: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 166 Latin America: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 167 Latin America: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 168 Latin America: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 169 Latin America: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 170 Mexico: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 171 Mexico: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 172 Mexico: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 173 Mexico: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 174 Mexico: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 175 Mexico: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 176 Brazil: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 177 Brazil: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 178 Brazil: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 179 Brazil: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 180 Brazil: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 181 Brazil: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 182 Rest of Latin America: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 183 Rest of Latin America: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 184 Rest of Latin America: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 185 Rest of Latin America: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 186 Rest of Latin America: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 187 Rest of Latin America: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 188 Middle East & Africa: Hydrogen Market, by Country/Region, 2022–2031 (USD Million)
Table 189 Middle East & Africa: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 190 Middle East & Africa: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 191 Middle East & Africa: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 192 Middle East & Africa: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 193 Middle East & Africa: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 194 Middle East & Africa: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 195 UAE: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 196 UAE: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 197 UAE: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 198 UAE: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 199 UAE: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 200 UAE: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 201 Saudi Arabia: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 202 Saudi Arabia: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 203 Saudi Arabia: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 204 Saudi Arabia: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 205 Saudi Arabia: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 206 Saudi Arabia: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 207 Israel: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 208 Israel: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 209 Israel: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 210 Israel: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 211 Israel: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 212 Israel: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 213 Rest of the Middle East & Africa: Hydrogen Market, by Offering, 2022–2031 (USD Million)
Table 214 Rest of the Middle East & Africa: Hydrogen Generation Market, by Type, 2022–2031 (USD Million)
Table 215 Rest of the Middle East & Africa: Hydrogen Storage Market, by Type, 2022–2031 (USD Million)
Table 216 Rest of the Middle East & Africa: Hydrogen Transportation Market, by Type, 2022–2031 (USD Million)
Table 217 Rest of the Middle East & Africa: Hydrogen Market, by Application, 2022–2031 (USD Million)
Table 218 Rest of the Middle East & Africa: Hydrogen Market for Chemical Production, by Type, 2022–2031 (USD Million)
Table 219 Recent Developments from Major Market Players (2021–2024)
Table 220 Market Rankings of Key Players
List of Figures
Figure 1 Market Ecosystem
Figure 2 Key Stakeholders
Figure 3 Research Process
Figure 4 Key Secondary Sources
Figure 5 Primary Research Techniques
Figure 6 Key Executives Interviewed
Figure 7 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 8 Market Sizing and Growth Forecast Approach
Figure 9 Key Insights
Figure 10 The Hydrogen Generation Segment Expected to Dominate the Global Hydrogen Market in 2024
Figure 11 The Chemical Production Segment to Dominate the Global Hydrogen Market in 2024
Figure 12 Global Hydrogen Market, by Region (2024 Vs. 2031)
Figure 13 Impact Analysis of Market Dynamics
Figure 14 Global Hydrogen Market, by Offering, 2024 Vs. 2031 (USD Million)
Figure 15 Global Hydrogen Market, by Application, 2024 Vs. 2031 (USD Million)
Figure 16 Global Hydrogen Market, by Geography, 2024 Vs. 2031 (USD Million)
Figure 17 Geographic Snapshot: Hydrogen Market in North America
Figure 18 Geographic Snapshot: Hydrogen Market in Europe
Figure 19 Geographic Snapshot: Hydrogen Market in Asia-Pacific
Figure 20 Geographic Snapshot: Hydrogen Market in Latin America
Figure 21 Geographic Snapshot: Hydrogen Market in the Middle East & Africa
Figure 22 Growth Strategies Adopted by Leading Market Players (2021–2024)
Figure 23 Competitive Benchmarking (2021–2024)
Figure 24 Competitive Dashboard: Hydrogen Market
Figure 25 L’air Liquide S.A.: Financial Overview (2022)
Figure 26 Air Products and Chemicals, Inc.: Financial Overview (2022)
Figure 27 Plug Power Inc.: Financial Overview (2022)
Figure 28 Linde plc: Financial Overview (2022)
Figure 29 Cummins Inc.: Financial Overview (2022)
Figure 30 Nippon Sanso Holdings Corporation: Financial Overview (2022)
Figure 31 Shell Plc: Financial Overview (2022)
Figure 32 Hexagon Purus ASA: Financial Overview (2022)
Figure 33 Fuelcell Energy, Inc.: Financial Overview (2022)
Figure 34 Chart Industries, Inc.: Financial Overview (2022)
Figure 35 Siemens Energy Ag: Financial Overview (2022)
Figure 36 Iwatani Corporation: Financial Overview (2022)
Figure 37 Luxfer Holdings PLC: Financial Overview (2022)
Figure 38 Messer Se & Co. Kgaa: Financial Overview (2022)
Figure 39 Merck KGaA: Financial Overview (2022)
Figure 40 Ballard Power Systems Inc.: Financial Overview (2022)
Figure 41 Hanwha Corporation: Financial Overview (2022)
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