MarketsandMarkets Research titled, “Hydrogen Industry by Sector (Generation Type (Gray, Blue, Green), Storage (Physical, Material), Transportation (Long, Short)), Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Refinery, Ammonia, Methanol)), Region – Global Forecast to 2030“. The global hydrogen industry in terms of revenue was estimated to be worth $242.7 billion in 2023 and is poised to reach $410.6 billion by 2030, growing at a CAGR of 7.8% from 2023 to 2030

Key Market Players –

Linde plc (Ireland), Air products and Chemicals, Inc. (US), Air Liquide (France), Worthington Industries (US), Cryolor (France), Hexagon Purus (Norway), and NPROXX (Netherlands).

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=132975342

Gray hydrogen is expected to hold the largest share of the hydrogen industry during the forecast period. The growth in the gray hydrogen market can be attributed to its low cost and the wide area of its application. However, demand for green hydrogen is on the rise due to the rising focus on the reduce green house gas emissions.

Based on transportation, the hydrogen industry size is bifurcated into long distance and short distance. Short distance is expected to be the fastest growing market during the forecast period. Long-distance hydrogen transportation is crucial to enabling its widespread adoption and use in many places that may lack local hydrogen manufacturing capabilities. Also, there are investments in new technologies for the long distance transportation. Recently, composite storage containers with capacity of 560-900 kg of hydrogen per trailer have been created. In other nations, such tube trailers are being utilized to distribute compressed natural gas.

This research report categorizes by following:-

On the basis of Sector:

• Generation Type
  • Gray Hydrogen
  • Blue Hydrogen
  • Green Hydrogen
• Storage
  • Physical
  • Material-based
• Transportation
  • Long Distance
  • Short Distance

On the basis of application:

• Energy
  • Power Generation
  • CHP
• Mobility
• Chemical & Refinery
  • Petroleum Refinery
  • Ammonia Production
  • Methanol Production

This report segments the hydrogen industry based on application into four categories: energy, mobility, chemical & refinery and others. Chemical & refinery is expected to hold the largest market during forecaste period. Hydrogen is employed as a significant processing component in many hydrotreating processes in chemiacal & petroleum refineries, such as hydrodesulfurization, hydrodimerization, aromatization, and hydrocracking. Hydrogen is used in chemical & refineries to reduce the sulphur level of diesel fuel. In mobility, increasing initiatives by government in hydrogen cell based vehicles and hydrogen fueling stations.

Request Sample Pages of the Report – https://www.marketsandmarkets.com/requestsampleNew.asp?id=132975342

North America is expected to be the largest region in the hydrogen market

North America is expected to be the largest hydrogen industry during the forecast period. The North America region, comprising of US, Canada, and Mexico. Governments are dedicated to combating climate change and lowering greenhouse gas emissions. One important clean energy carrier that can aid in achieving carbon neutrality and promoting sustainable development is hydrogen, especially green hydrogen produced from renewable sources.

Browse Related Reports

Future of Hydrogen Market by Upstream, Source, Storage, Midstream, Downstream – Global Forecast to 2030, 2040 and 2050

Hydrogen Generation Market by Technology, Application, Source, Generation & Delivery Mode, Region – Global Forecast to 2028

Hydrogen Energy Storage Market by Form, Technology, Application, End User, Region – Global Forecast to 2028