Merchant Hydrogen Trends and Forecast
The future of the global merchant hydrogen market looks promising with opportunities in the industrial, medication, military, aerospace, automobile, electric power, electronic, and food markets. The global merchant hydrogen market is expected to reach an estimated $116.3 billion by 2030 with a CAGR of 7.0% from 2024 to 2030. The major drivers for this market are increasing demand for hydrogen as a clean energy carrier and growing investments in hydrogen production.
• Lucintel forecasts that thermal process is expected to witness the highest growth over the forecast period.
• Within this market, industrial is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States: In the United States, recent developments in the Merchant Hydrogen Market have seen companies like Air Products and Plug Power taking significant initiatives. Air Products announced plans to expand its hydrogen production capacity and distribution infrastructure to meet the growing demand for clean hydrogen across various industries. Plug Power revealed collaborations with automotive manufacturers to integrate hydrogen fuel cell technology into zero-emission vehicles, targeting the transportation sectorÄX%$%Xs decarbonization goals.
Japan: In Japan, companies like Kawasaki Heavy Industries and Toshiba Energy Systems & Solutions Corporation are leading initiatives in the Merchant Hydrogen Market. Kawasaki Heavy Industries revealed plans to develop large-scale hydrogen production plants using advanced carbon capture and utilization technologies. Toshiba Energy Systems & Solutions Corporation announced collaborations with local governments to establish hydrogen production facilities powered by renewable energy sources.
Germany: In Germany, companies like Linde and Siemens Energy are driving developments in the Merchant Hydrogen Market. Linde unveiled plans to expand its hydrogen production and distribution network to support the countryÄX%$%Xs transition to a low-carbon economy. Siemens Energy announced partnerships with utilities and industrial companies to establish hydrogen production hubs using electrolysis technology powered by renewable energy sources.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Merchant Hydrogen by Segment
The study includes a forecast for the global merchant hydrogen by type, application, and region.
Merchant Hydrogen Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Thermal Process
• Electrolytic Process
• Photolytic Process
Merchant Hydrogen Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Industrial
• Medication
• Military
• Aerospace
• Automobile
• Electric Power
• Electronic
• Food
• Others
Merchant Hydrogen Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Merchant Hydrogen Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies merchant hydrogen companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the merchant hydrogen companies profiled in this report include-
• Airgas
• Air Products and Chemicals
• Linde Engineering
• Praxair
• Air Liquide
• Department of Energy
• Rouge H2 Engineering
Recent Development in the Merchant Hydrogen Market
Air Products: Air Products, a global leader in industrial gases and hydrogen production, announced plans to expand its presence in the Merchant Hydrogen Market through strategic investments in hydrogen production facilities. The company aims to meet the increasing demand for hydrogen as a clean energy carrier, particularly in sectors such as transportation, refining, and chemicals. Air ProductsÄX%$%X initiative underscores its commitment to supporting the transition to a low-carbon economy by providing reliable and efficient hydrogen supply solutions to customers worldwide.
Linde: Linde, a leading industrial gases company, revealed initiatives to enhance its Merchant Hydrogen Market offerings by leveraging its extensive hydrogen production and distribution network. The company aims to capitalize on the growing demand for hydrogen across various industries by expanding its portfolio of hydrogen supply solutions, including on-site production and pipeline delivery. LindeÄX%$%Xs initiative reflects its dedication to providing sustainable and cost-effective hydrogen solutions to meet the evolving needs of customers and support global decarbonization efforts.
Air Liquide: Air Liquide, a major player in the industrial gas industry, announced investments in the expansion of its Merchant Hydrogen Market presence, focusing on enhancing hydrogen production capacity and infrastructure. The company aims to address the increasing demand for hydrogen as a clean energy carrier by leveraging its technological expertise and global network of production facilities. Air LiquideÄX%$%Xs initiative demonstrates its commitment to supporting customersÄX%$%X transition to hydrogen-based solutions and promoting sustainable development across various sectors.
Nel Hydrogen: Nel Hydrogen, a leading manufacturer of hydrogen electrolyzers, revealed initiatives to scale up its production capacity to meet the growing demand in the Merchant Hydrogen Market. The company aims to leverage its advanced electrolyzer technology to provide cost-effective and efficient hydrogen production solutions to customers worldwide. Nel HydrogenÄX%$%Xs initiative underscores its role in advancing the adoption of hydrogen as a key component of the transition to renewable energy and sustainable development.
Features of the Global Merchant Hydrogen Market
Market Size Estimates: Merchant hydrogen market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Merchant hydrogen market size by type, application, and region in terms of value ($B).
Regional Analysis: Merchant hydrogen market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the merchant hydrogen market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the merchant hydrogen market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the merchant hydrogen market size?
Answer: The global merchant hydrogen market is expected to reach an estimated $116.3 billion by 2030.
Q2. What is the growth forecast for merchant hydrogen market?
Answer: The global merchant hydrogen market is expected to grow with a CAGR of 7.0% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the merchant hydrogen market?
Answer: The major drivers for this market are increasing demand for hydrogen as a clean energy carrier and growing investments in hydrogen production.
Q4. What are the major segments for merchant hydrogen market?
Answer: The future of the merchant hydrogen market looks promising with opportunities in the industrial, medication, military, aerospace, automobile, electric power, electronic, and food markets.
Q5. Who are the key merchant hydrogen market companies?
Answer: Some of the key merchant hydrogen companies are as follows:
• Airgas
• Air Products and Chemicals
• Linde Engineering
• Praxair
• Air Liquide
• Department of Energy
• Rouge H2 Engineering
Q6. Which merchant hydrogen market segment will be the largest in future?
Answer: Lucintel forecasts that thermal process is expected to witness the highest growth over the forecast period.
Q7. In merchant hydrogen market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the merchant hydrogen market by type (thermal process, electrolytic process, and photolytic process), application (industrial, medication, military, aerospace, automobile, electric power, electronic, food, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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