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Hydrogen Market Demand – Historical and Future Challenges

[191 Pages Report] The global hydrogen market is valued at USD 242.7 billion in 2023 and is projected to reach USD 410.6 billion by 2030; it is expected to record a CAGR of 7.8% during the forecast period. The growth in hydrogen demand in recent years is due to the increasing government focus on developing hydrogen-based economies and investment in the hydrogen infrastructure. The market for hydrogen is projected to benefit greatly from the rising usage of low emission fuel.

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Hydrogen Market Demand – Historical and Future Challenges

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  1. Hydrogen Market 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 www.MarketsandMarkets.com

  2. The hydrogen market is projected to reach USD 410.6 billion by 2030 from an estimated USD 242.7 billion in 2023, at a CAGR of 7.8% during the forecast period. Hydrogen is the lightest and most abundant element in the universe. Hydrogen gas has an excellent energy carrying capacity. It can be produced in large quantities and supplied to large-scale industries for various operations. It can be produced as a principal and by-product from various primary energy sources (such as wind, solar, coal, natural gas, and nuclear). Currently, hydrogen is produced in bulk for many value-added uses and chemical substances. It delivers power for various applications, including fuel cells and combined heat and power technologies. View detailed Table of Content here – https://www.marketsandmarkets.com/Market-Reports/hydrogen-market-132975342.html

  3. The generation type segment, by sector, is expected to have the largest market during the forecast period. Based on sector, the hydrogen market has been segmented into generation type, storage, and transportation. The generation type segment is expected to hold largest share during the forecast period. Governments and businesses are looking at low-carbon and zero-emission options as a result of the pressing need to slow down climate change and cut greenhouse gas emissions. Since it generates no carbon dioxide when used, green hydrogen generation offers a workable answer to the problem of decarbonization. Additionally, hydrogen is used as a feedstock or process fuel by many sectors, including chemical manufacture, refineries, and the production of steel. The demand for low-carbon and green hydrogen is rising as industry work to minimize their carbon footprint. Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=132975342

  4. Browse >> 158market data tables 51figures 191 pagesand in-depth TOC on “Hydrogen Market - Global Forecast to 2030” Early buyers will receive 10% customization on this report. This is a Premium Report Priced at US $4950 for single user. Corporate User : US$8150 This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

  5. The mobility segment, by application, is expected to be the fastest growing during the forecast period This report segments the hydrogen market based on application into three segments: energy, mobility, and chemical & refinery. The mobility segment is expected to be the fastest growing during the forecast period. Owing to the rising adaption of the fuel cell electric vehicles and hydrogen fueling station. Due to the hydrogen fuel cell's electrochemical reaction only producing water vapor as a byproduct, FCEVs have zero emissions. Due to this feature, FCEVs are a desirable alternative for both consumers and governments aiming to reduce air pollution and battle climate change.

  6. North America is expected to be the largest region in the hydrogen market North America is expected to be the largest hydrogen market 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. Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=132975342

  7. Key players - • To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Hydrogen Market. These include • Linde plc (Ireland), • Air products and Chemicals, Inc. (US), • Air Liquide (France), • Worthington Industries (US), • Cryolor (France), • Hexagon Purus (Norway), • NPROXX (Netherlands) and many more... • Buy Now : - • https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=132975342

  8. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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