Industrial Hydrogen Market: Industry Outlook, Growth Prospects and Key Opportunities

Hydrogen is undoubtedly the clean fuel of the future and finds wide application in various industries including chemical, electronics, glass, metal production, pharma and biotech, and welding and metal fabrication. In a recent study, This Market Study analyzes the adoption of hydrogen across various industries and presents a forecast of the industrial hydrogen market for the period 2016–2024. The primary objective of the report is to highlight factors and trends influencing the industrial hydrogen market over the forecast period and present market projections for industrial hydrogen across different production methods and applications, for a few specific global regions. A special attention has been given on production of hydrogen by electrolysis of water owing to a global focus on the development of green production technologies. The report specifically focuses only on those industrial applications of hydrogen where a small volume of hydrogen is consumed and does not cover large volume end uses of hydrogen such as refinery, ammonia production, energy applications, etc.

To understand and evaluate the demand and opportunities in this market, the report is categorically split into three sections – by production method, by application, and by region. The report studies the industrial hydrogen market both in terms of market value and market volume.

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The report starts with a market summary and market definition and provides a detailed analysis of the key drivers, restraints, opportunities, and trends governing the industrial hydrogen market over the forecast period. The subsequent sections include an in-depth analysis of the industrial hydrogen market by production method, by application, and by region; and present a granular detail of the market size in terms of value and volume for the period 2016-2024. All the three sections assess the market on the basis of various factors affecting the market, covering the present scenario and future prospects. The report also includes an overview of production technologies, supply chain management analysis, and a list of major hydrogen producers and consumers in each region. For market data analysis, the report considers 2015 as the base year, with market numbers estimated for 2016 and a detailed forecast provided for the period 2017–2024.

Research Methodology

The report tracks the industrial hydrogen market in terms of volume consumption and is calibrated to obtain the market revenue estimates by multiplication of weighted average prices. The report uses in-depth secondary research to ascertain overall market size, top industry players, top production method, and top application. The findings are also based on extensive primary research conducted by interacting with key industry players including manufacturers, distributors, retailers, and industry experts in the industrial hydrogen market. The report relies on information procured from industry association publications and the annual reports, publications, and presentations of hydrogen manufacturers to derive key insights based on the current market scenario and future prospects of the industrial hydrogen market. Data acquired through primary and secondary research is triangulated and further scrutinized using advanced tools and processes to obtain qualitative and quantitative insights into the industrial hydrogen market. When determining the market size, the report forecasts hydrogen sales volume at the country level and utilizes average country level prices to arrive at a revenue estimate. CAGR and Y-o-Y growth is used to arrive at market projections for each segment in the industrial hydrogen market.

The report ends with a study of key players operating in the industrial hydrogen market – both producers and consumers. Key producers of industrial hydrogen profiled in this study include Air Liquide, Air Products and Chemicals Inc., The Linde Group, Praxair Inc., and Messer Group GmbH.