Monday, November 5, 2018

Hydrogen Market Analysis by Applications, Region, Type and Top Players Analysis Forecast to 2023

PS LogoThe increasing use of hydrogen in petroleum industries is propelling the   growth of the global hydrogen market. The other end-user industries   for hydrogen include metal processing industries, chemical manufacturing, pharmaceuticals, and food processing. The demand for hydrogen in petroleum refining has increased significantly over the last few years, owing to stringent motor vehicle emissions regulations imposed by various governments.
Some of the other drivers behind the growing global demand of hydrogen include increasing demand of hydrogen from refinery hydro-processing industry, and growing concept of power-to-gas. Power-to-gas concept is designed to conserve energy and optimally utilize renewable sources.
On the basis of production and delivery, the global hydrogen market can be segmented into merchant production and captive production. On the basis of production process, the hydrogen market can be classified as gasification of coal, steam reforming of natural gases, partial oxidation of hydrocarbons, electrolysis of water, and others.
One of the major challenges to the global hydrogen market is unstable global  oil refining capacity. The oil refining industry is a major end-user of hydrogen gas. Instability in this industry is severely affecting the growth of the hydrogen market.
Hydrogen
Geographically, Asia-Pacific is the largest revenue generating region globally for the hydrogen market. Rise in number of ammonia production plants and increasing refinery output is driving the Asia-Pacific hydrogen market, particularly in countries such as India, China, and Malaysia. North America is the second-largest market for hydrogen. The U.S. is the largest hydrogen consumer in North American.
Some of the key players in the global hydrogen market include Messer Group GmbH, Airgas Inc., Taiyo Nippon Sanso Corporation, Iwatani Corporation, Hydrogenics Corporation, Air Products and Chemicals Inc., Showa Denko K.K, Air Liquide S.A. and Praxair Inc.
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