
Growing investment in research and development for the development of hydrogen as a fuel is a key trend in the global hydrogen market. For instance, according to the International Energy Agency (IEA), in 2018, the worldwide hydrogen fuel cars market has reached 8,000 units, in which the U.S. and Japan have contributed to 90% of it. Recently, various countries have introduced different policies to boost the use of this fuel.
The hydrogen gas is represented with a molecular formula of H2. Physical properties of this gas include colorless, odorless, tasteless, non-toxic, and non-metallic. Its density at standard temperature and pressure (STP) is 0.08988 g/l. The gas also occurs naturally in air, in extremely minute concentrations. It is also the lightest and the most abundant element in the atmosphere. Japan and the U.S. are the main users of it, apart from these two countries, the five Nordic regions Norway, Finland, Sweden, Denmark, and Iceland have also started using it as a fuel in the form of bio-hydrogen.
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The hydrogen market is classified on the basis of distribution into pipelines, high pressure tube trailers, and cylinders. Among these, pipeline transportation is the cheapest alternative for gas distribution, as transportation by trailers or cylinders require liquefaction of the gas, which is a very expensive process. Among these three, pipelines are widely used to deliver large volume of gas from one place to another.
Some of the major players operating in the global hydrogen market are Air Liquide, Linde, Praxair Inc., Air Products and Chemicals Inc., Showa Denko K.K. (SDK), In Hyster-Yale Materials Handling Inc., BASF SE, Messer Group GmbH, Universal Industrial Gases Inc., and Gulf Cryo.
Key factor driving the growth of the hydrogen market is growing hydrogen demand from the chemical industry. There is constant requirement for the gas in refineries in hydrocracker unit. As the refining market specially in countries such as China, India, and the middle eastern countries is growing at a steady rate, this would in turn boost the market growth.
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The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Russia, Japan, China, India, Indonesia, Brazil, Saudi Arabia, and South Africa.
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