Hydrogen Production Market Has Potential To Grow $ 38.71 Billion Between 2021-2025 | growing demand for fertilizer to stimulate growth | Technavio | State

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NEW YORK, October 5, 2021 / PRNewswire / – Global Hydrogen Production Market Expected to Grow $ 38.71 billion, growing at a CAGR of over 5% during 2021-2025, according to Technavio’s latest market report. Based on our research, the market is expected to experience 4.93% year-over-year growth in 2021 despite the widespread growth of the COVID-19 pandemic.

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By application, the chemical industry segment is expected to generate maximum revenue in the hydrogen production market during the forecast period. Growing global demand for fuel will be critical to drive segment growth.

Based on geography, APAC will present significant opportunities for market sellers. The growth of the hydrogen production market in APAC can be attributed to increased investment in industries such as chemicals, fertilizers, refineries, glass, semiconductors, metal processing and l ‘food. In addition, healthy GDP growth in countries like China and India will fuel the growth of the hydrogen production market by APAC during the forecast period.

Hydrogen production market: main growth drivers

The hydrogen production market Growth is expected to be driven by the following factors:

  • Growing demand for fertilizer
  • Global refining capacity growth

The growth of the metal processing industry is expected to become a major market trend during the forecast period. The global demand for steel is constantly increasing. The strong growth of the industrial sector in countries like Brazil, India, China, Iran, and Mexico dramatically increased steel consumption in the construction industry. In addition, the flourishing automotive sector in countries such as China and India further increased the consumption of steel products. All of these factors lead to increased demand for hydrogen in the metal processing industry which is helping in the growth of the global hydrogen production market.

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Hydrogen production market: offers from the main suppliers

Air Products and Chemicals Inc .: The company generates hydrogen by steam methane reforming, where the steam reacts with natural gas at very high temperatures to produce syngas that can be further processed to convert carbon monoxide through a reaction with steam to produce more hydrogen.

Cummins Inc .: The company generates hydrogen through Cummins’ electrolysis technology where an electrolyser splits water into hydrogen and oxygen and the generated hydrogen can then be used in industrial, chemical or electrical applications in the short and long term.

Claim Srl: The company produces hydrogen using a steam methane reformer, which has a capacity of 170 million standard cubic feet of high purity hydrogen.

Iwatani Corp. : The company produces hydrogen using renewable methods that can be used in industrial, chemical or electrical applications in the short and long term.

LIQUID LAIR SA: The company generates hydrogen to meet the challenges of clean transportation by reducing greenhouse gases, pollution in cities and dependence on fossil fuels.

Reasons for Buying Hydrogen Production Market Report:

  • Market CAGR during the forecast period 2021-2025
  • Detailed information on the factors that will contribute to the growth of the hydrogen production market over the next five years
  • Estimating the size of the hydrogen production market and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the hydrogen production market in APAC, Europe, North America, MEA and South America
  • Market competitive landscape analysis and detailed supplier information
  • Complete details on the factors that will challenge the growth of the Hydrogen Production Market vendors

Associated reports:

Global Liquid Nitrogen Market – The global liquid nitrogen market is segmented by end user (CPB, F & B, metal fabrication and construction, and others) and geography (North America, APAC, Europe, South America, and MEA).

Download an exclusive free sample report

Global market for industrial gases for the glass industry – The global industrial gases market for the glass industry is segmented by distribution channel (distribution of merchantable liquid, distribution of tonnage and distribution of bottles and packaging), type of gas (nitrogen, oxygen, hydrogen, acetylene and others ) and geography (APAC, Europe, North America, South America, and MEA).

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Scope of the hydrogen production market

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Accelerate to a CAGR of over 5%

Market growth 2021-2025

$ 38.71 billion

Market structure

Fragmented

Annual growth (%)

4.93

Regional analysis

APAC, Europe, North America, MEA and South America

Efficient contribution to the market

APAC at 57%

Main consumer countries

China, United States, Japan, Germany and France

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Air Products and Chemicals Inc., Cummins Inc., Claind Srl, Iwatani Corp., LAIR LIQUIDE SA, Linde Plc, Parker Hannifin Corp., SHOWA DENKO KK, Teledyne Technologies Inc. and Xebec Adsorption Inc.

Market dynamics

Analysis of the parent market, market growth drivers and obstacles, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Customization

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

About Us

Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000+ reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

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