Blue Hydrogen Market Size Worth USD 3.43 Billion in 2030 | Royal Dutch Shell PLC, Linde plc, Air Products Inc., Cummins Inc., Siemens Energy (Siemens AG), Toshiba Energy Systems & Solutions Corp.
The global blue hydrogen market size reached USD 1.02 Billion in 2021 and is expected to register a revenue CAGR of 14.8% during the forecast period, according to latest analysis by Emergen Research. Rapid increase in fuel prices and increasing pollution due to combustion of fossil fuels are expected to support market revenue growth during 2022-2030.
Rapid climate change due to global warming is expected to increase demand for cleaner alternatives with minimal emissions. According to a recent report by the Intergovernmental Panel on Climate Change (IPCC), greenhouse gas emissions from human activity are responsible for warming of the atmosphere by about 1.1° C from 1850 to 1900, and the average global temperature over the next 20 years is projected to be 1.5° C or higher than the pre-industrial levels. Rapid climate change caused by global warming has adversely affected weather patterns, causing irregular rainfalls, droughts, and desertification, thereby reducing agricultural productivity and increasing global hunger rates. This is expected to increase demand for blue hydrogen as an alternative source of energy and thus, drive revenue growth of the market during the forecast period.
Rapid increase in prices of fuels has led to rising demand for alternative and sustainable sources of energy, such as blue hydrogen. Crude oil prices have risen steadily since mid-2020, due to slower increase in production and rapid growth in demand, which has contributed to price inflation. Cartels formed by major oil exporters are mainly responsible for manipulating the price of crude oil. In December 2020, Organization of the Petroleum Exporting Countries (OPEC) and other countries, such as Russia, that coordinate production with OPEC, announced to continue to limit production throughout 2021 to support higher crude oil prices. This is expected to push governments of various countries to look for alternative sources of energy in order to reduce dependency on oil imports, which is expected to drive revenue growth of the market.
If you are a Blue Hydrogen vendor than this article will help you understand the Sales Volume with Impacting Trends.
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We provide detailed product mapping and investigation of various market scenarios. Emergen Research analysts provide a thorough analysis and breakdown of the market presence of key market leaders. We strive to stay updated with the recent developments and follow the latest company news related to the industry players operating in the global Blue Hydrogen market. This helps us to comprehensively analyze the individual standing of the companies as well as the competitive landscape. Our vendor landscape analysis offers a complete study to help you gain the upper hand in the competition.
The report also sheds light on the technological developments, product advancements, market volume, materials, market share, and an in-depth analysis of the Blue Hydrogen sector. The report also carries a dedicated section that offers an extensive analysis of the prominent companies engaged in the market along with their detailed profiles and market position.
Increasing pollution due to combustion of fossil fuels is another factor that is expected to increase demand for blue hydrogen. Fossil fuels produce large amounts of carbon dioxide when burned, and these carbon emissions trap heat in the atmosphere, causing global warming and climate change. This is expected to increase demand for alternative sources of energy, such as blue hydrogen, and thus, support revenue growth of the market.
However, presence of the greenhouse gas methane in natural gas can hamper revenue growth of the market. Additionally, the need to burn natural gas for producing a large amount of energy required to manufacture blue hydrogen leads to carbon dioxide emissions, which is one of the main greenhouse gases and a major contributor to global warming and climate change. This is another major factor restraining revenue growth of the global blue hydrogen market.
The major manufacturers covered in this report:
Royal Dutch Shell plc, Linde plc, Air Products Inc., Cummins Inc., Siemens Energy (Siemens AG), Toshiba Energy Systems & Solutions Corp., Equinor ASA, CertifHy Canada Inc., Xebec Adsorption Inc., and Uniper SE
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The all-inclusive report offers a thorough analysis of the market growth and trends, factors influencing the growth of the market, market estimations, drivers, restraints, and overall market analysis. The report also includes an examination of leading segments and sub-segments of the Blue Hydrogen market to offer an industry-wide analysis.
Segments Covered in this report are:
- Technology Outlook (Revenue, USD Billion, Volume, Metric Ton; 2019–2030)
- Steam Methane Reforming (SMR)
- Autothermal Reforming (ATR)
- Gas Partial Oxidation
- End-use Outlook (Revenue, USD Billion, Volume, Metric Ton; 2019–2030)
- Power Generation
- Chemical Industries
- Petroleum Refinery
- Regional Outlook (Revenue, USD Billion, Volume, Metric Ton; 2019–2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
Market Segmentation based on Key Geographical Regions:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Global Blue Hydrogen Market Report Highlights:
- Gas partial oxidation segment is expected to register a significantly rapid revenue CAGR during the forecast period, due to rising demand for blue hydrogen and declining dependency on fossil fuels to reduce emissions.
- Petroleum refinery segment is expected to register a robust revenue growth rate over the forecast period, due to rising demand for natural gas, which is an important raw material for producing blue hydrogen.
- North America is expected to register a steady revenue growth rate in the global blue hydrogen market over the forecast period, which can be attributed to strong presence of international and domestic enterprises involved in the production of blue hydrogen, such as CertifHy Canada Inc., Air Products Inc., Xebec Adsorption Inc., and Cummins Inc., among others, in countries in the region.
- In January 2021, Uniper SE and PAO NOVATEK signed a Memorandum of Understanding (MoU) to make a joined investigation on the potential for supply of blue and green hydrogen by NOVATEK to Uniper’s power stations and markets in Russia and northwest Europe. Highly industrialized countries including Germany are expected to depend on hydrogen imports, due to rising demand for hydrogen and inadequate production capacities. This partnership with a trusted supplier of natural gas, NOVATEK is expected to help Uniper to develop export capabilities for hydrogen.
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Key Questions Answered
What is the impact of COVID-19 on the global Blue Hydrogen Market?
What are the top strategies that companies adopting in Blue Hydrogen Market?
What are the challenges faced by SME’s and prominent vendors in Blue Hydrogen Market?
Which region has the highest investments in Blue Hydrogen Market?
What are the latest research and activities in Blue Hydrogen Market?
Who are the prominent players in Blue Hydrogen Market?
What is the potential of the Blue Hydrogen Market?
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On a concluding note, the report offers a panoramic view of the Blue Hydrogen market on both the global and regional levels. It is inclusive of key statistical data and industry-verified facts and thoroughly evaluate the size, share, and market volume of the Blue Hydrogen industry to forecast the same over 2020-2028.
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Published Mon, 15 Aug 2022 10:47:00 -0500