DUBLIN--(BUSINESS WIRE)--The "Blue Hydrogen Market" report has been added to ResearchAndMarkets.com's offering.
The global blue hydrogen market size is expected to reach USD 43.79 billion by 2030
Increasing applications of blue hydrogen in fuel cell electric vehicles and the aerospace sector around the world along with the rising focus of various governments on achieving net zero emissions targets, by 2050, are key factors projected to drive the growth.
In addition, growing investment by various large market companies and government organizations in the enhancement and improvement of hydrogen production facilities by promoting various development projects and incorporation of advanced technologies like machine learning & artificial intelligence is anticipated to create lucrative growth opportunities for the market.
For instance, in April 2022, Wood Plc. announced the launch of its new next-generation steam methane technology to produce hydrogen, which can achieve around 95% reductions in CO2 emissions, compared to traditional plants. This SMR technology will be applicable for both greenfield and brownfield projects while improving the efficiency and environmental footprint of existing hydrogen production assets.
The rapid increase in the prices of various fuels like petrol & diesel, which can attribute to high volatility in the crude oil process and several taxes & ceases levied on the fuel, has enabled cartels like the organization of petroleum exporting countries, to decide the benchmark of their prices crude oil prices. This is significantly leading to a rapid increase in the demand for alternative fuel sources such as blue hydrogen and is expected to impact the global market positively in the next coming years.
In March 2022, ExxonMobil announced its plan to launch of a hydrogen manufacturing plant at its integrated refining & petrochemical site in Texas. This facility would produce up to 1 Bn cubic feet of blue hydrogen/per day. And, using hydrogen as a fuel at its Baytown site will help to reduce CO2 emissions by more than 30%.
Blue Hydrogen Market Report Highlights
- Steam methane reforming segment accounted for a significant market share in 2021, owing to its cost-effectiveness & rising adoption as the cheapest way of producing high levels of pure hydrogen
- The chemical industry segment held the largest market share, in 2021, due to a rapid increase in demand for various types of ammonia fertilizers and high utilization in the production of bulk chemicals and intermediates
- North America region dominated the global market and is expected to grow over the projected period on account of increased investment in research & development activities and the rising need for fuel cells in electric vehicles
- The global market players include ExxonMobil Corporation, Air Products and Chemical, Aker Solutions, Technip Energies, and The State Atomic Energy Corporation
Company Profiles
- ExxonMobil Corporation
- Air Products and Chemicals Inc.
- Aker Solutions
- Dastur Energy
- Topsoe
- Shell Plc
- Lindle Plc
- Petrofac Limited
- Technip Energies N.V.
- Johnson Matthey
- Thyssenkrupp AG
- Xebec Corporation
- Aquaterra Energy Limited
- The State Atomic Energy Corporation
- ENGIE Group
- Toshiba Energy System and Solution Corp.
- Uniper SE
- Hydrogain Technology Inc.
Key Topics Covered:
1. Introduction
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
4. Global Blue Hydrogen Market Insights
4.1. Blue Hydrogen Market - Industry Snapshot
4.2. Blue Hydrogen Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising government initiatives toward clean energy sources
4.2.1.2. Increasing regulations concerning GHG emissions
4.2.2. Restraints and Challenges
4.2.2.1. Energy loss during hydrogen production
4.3. Porter's Five Forces Analysis
4.4. PESTLE Analysis
4.5. Blue Hydrogen Industry trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Blue Hydrogen Market, by Technology
5.1. Key Findings
5.2. Introduction
5.2.1. Global Blue Hydrogen, by Technology, 2018 - 2030 (USD Billion)
5.3. Steam Methane Reforming
5.4. Gas Partial Oxidation
5.5. Auto Thermal Reforming
6. Global Blue Hydrogen Market, by End-User
6.1. Key Findings
6.2. Introduction
6.2.1. Global Blue Hydrogen Market, by End-User, 2018 - 2030 (USD Billion)
6.3. Petroleum Refiners
6.4. Chemical Industry
6.5. Power Generation Facilities
6.6. Others
7. Global Blue Hydrogen Market, by Geography
7.1. Key findings
7.2. Introduction
7.2.1. Blue Hydrogen Market Assessment, By Geography, 2018 - 2030 (USD Billion)
7.3. Blue Hydrogen Market - North America
7.3.1. North America: Blue Hydrogen Market, by End-User, 2018 - 2030 (USD Billion)
7.3.2. North America: Blue Hydrogen Market, by Technology, 2018 - 2030 (USD Billion)
7.3.3. Blue Hydrogen Market - U.S.
7.3.4. Blue Hydrogen Market - Canada
7.4. Blue Hydrogen Market - Europe
7.4.1. Europe: Blue Hydrogen Market, by End-User, 2018 - 2030 (USD Billion)
7.4.2. Europe: Blue Hydrogen Market, by Technology, 2018 - 2030 (USD Billion)
7.5. Blue Hydrogen Market - Asia Pacific
7.6. Blue Hydrogen Market - Middle East & Africa
7.7. Blue Hydrogen Market - Latin America
8. Competitive Landscape
8.1. Expansion and Acquisition Analysis
8.1.1. Expansion
8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/xghphc-hydrogen?w=4
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