Global Hydrogen Market 2024-2028
The hydrogen market is forecasted to grow by USD 92.35 bn during 2023-2028, accelerating at a CAGR of 7% during the forecast period. The report on the hydrogen market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing government focus on adoption of clean hydrogen, growing emphasis on using renewable energy sources, and increasing demand for hydrogen in various end-user industries.
Technavio's hydrogen market is segmented as below:
By Application
- Chemical industry
- Refinery industry
- Metal processing industry
- Others
By Type
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the growing investments by vendors in hydrogen production as one of the prime reasons driving the hydrogen market growth during the next few years. Also, ongoing advancements in hydrogen production technologies and development of regional hydrogen hubs and clusters will lead to sizable demand in the market.
The report on the hydrogen market covers the following areas:
- Hydrogen market sizing
- Hydrogen market forecast
- Hydrogen market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hydrogen market vendors that include Air Liquide SA, Air Products and Chemicals Inc., BayoTech Inc., Caloric Anlagenbau GmbH, Ceres Power Holdings plc, Chart Industries Inc., Chevron Corp., Iwatani Corp., Linde Plc, Mahler AGS GmbH, Messer SE and Co. KGaA, Nel ASA, Orsted AS, Oxygen Service Co., Plug Power Inc., Resonac Holdings Corp., Saudi Arabian Oil Co., Shell plc, Siemens AG, and Uniper SE. Also, the hydrogen market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.