Global Hydrogen Fuel Market 2024-2028
The hydrogen fuel market is forecasted to grow by USD 11.85 bn during 2023-2028, accelerating at a CAGR of 9.51% during the forecast period. The report on the hydrogen fuel 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 advancements in hydrogen technologies, growing transition to low-carbon economy, and decreasing electrolyzer costs.
Technavio's hydrogen fuel market is segmented as below:
By Application
- Power and heat generation
- Transportation
By Source
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the growing interest in green hydrogen as one of the prime reasons driving the hydrogen fuel market growth during the next few years. Also, the growing focus on low-carbon and blue hydrogen and the emergence of power-to-X technologies will lead to sizable demand in the market.
The report on the hydrogen fuel market covers the following areas:
- Hydrogen fuel market sizing
- Hydrogen fuel market forecast
- Hydrogen fuel 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 fuel market vendors include Acciona SA, Air Products and Chemicals Inc., Ballard Power Systems Inc., ENGIE SA, Equinor ASA, HyAxiom, Inc., Iberdrola SA, Indian Oil Corp. Ltd., ITM Power plc, Linde Plc, McPhy Energy SA, Nel ASA, Orsted AS, Plug Power Inc., Praxair Technology Inc., Saudi Arabian Oil Co., Shell plc, TotalEnergies SE, Woodside Energy Group Ltd., and Air Liquide SA. Also, the hydrogen fuel 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.