Insights on the Blue Hydrogen Global Market to 2031
DUBLIN–(BUSINESS WIRE)–The “Blue Hydrogen Market By Technology, By End Use, By Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The global blue hydrogen market size was valued at $0.9 billion in 2021, and projected to reach $3.5 billion by 2031, with a CAGR of 14.1% from 2022 to 2031.
Blue hydrogen is hydrogen produced from natural gas with a process of steam methane reforming, where natural gas is mixed with very hot steam and a catalyst. A chemical reaction occurs creating hydrogen and carbon monoxide. Blue hydrogen is grey hydrogen with a difference – the CO2 is captured during the production process and stored safely, for example in depleted gas or oil fields. This process is called carbon capture and storage (CCS). It prevents CO2 from entering the earth’s atmosphere or only doing so in very small quantities.
Hydrogen is also significantly used as a clean fuel alternative to electricity generation and propels vehicles. It is used as a fuel to curb harmful discharges and deliver water vapor and heat as the only output through fuel cells. Fuel cell manufacturers are continuously striving to introduce advanced systems with feasible integration in various applications. Furthermore, different methods such as steam methane reforming, gas partial oxidation, and auto thermal reforming are adopted across the industry to generate hydrogen to serve the increasing requirements in various applications.
The governments from different emerging as well as developed countries have shown significant interest in achieving carbon neutrality. In addition, the administrations have updated their strategies to include clean energy sectors in their future prospects fueling the expansion of hydrogen economy. For instance, in March 2021, India and the U.S. governments have decided to update their strategic energy partnership to include low carbon technologies such as hydrogen and bio fuels. The two nations have also agreed to boost the R&D activities with programs such as partnership to advance clean energy research for renewable energy.
The blue hydrogen market is segmented on the basis of technology, end use, industry, and region. On the basis of technology, the market is divided into steam methane reforming, gas partial oxidation, and auto thermal reforming. On the basis of end use, it is classified into power generation, chemical, refinery, and others. In addition, on the basis of industry, the market is categorized into ammonia, methanol and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.
Rapid development of industrialization, modernization and increase in awareness among the individuals regarding the environmental impact of fossil fuels fuel the demand for blue hydrogen. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the green energy application made way for key developments in the global blue hydrogen market trends.
Key Benefits:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the blue hydrogen market analysis from 2021 to 2031 to identify the prevailing blue hydrogen market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the blue hydrogen market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global blue hydrogen market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
- Steam Methane Reforming
- Gas Partial Oxidation
- Auto Thermal Reforming
By End Use
- Power Generation
- Chemical
- Refinery
- Others
By Industry
- Ammonia
- Methanol
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- ATCO Ltd.
- Linde plc
- Suncor Energy Inc.
- Royal Dutch Shell Plc
- Air Products Inc.
- Cummins Inc.
- Siemens AG
- Toshibha Energy Systems & Solutions Corp.
- Equinor ASA
- CertifHy Canada Inc.
- Xebec Adsorption Inc.
- Uniper SE
- Saudi Aramco
- Reliance Industries Ltd
- AIR LIQUIDE S.A.
For more information about this report visit https://www.researchandmarkets.com/r/5o2k8m
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