Market Overview:
Hydrogen is widely used in various industries as fuel and as chemical feedstock. It helps in reducing emissions in transport sector.
Market key trends:
One of the major trend in the U.S. Europe And Asia Industrial Hydrogen Market is growing demand for hydrogen from refineries. Refineries use hydrogen as a feedstock during the refining process to remove sulphur and for hydrocracking. Countries in Asia pacific region such as China, India are heavily investing in developing refining infrastructure which is expected to drive the demand for hydrogen from refineries during the forecast period.
Segment Analysis
The global U.S. Europe And Asia Industrial Hydrogen Market is segmented by production method into capture production, steam methane reforming, and others. Steam methane reforming segment currently dominates the market and is expected to continue its dominance over the forecast period. Steam reforming is most widely used method as it provides the lowest-cost hydrogen production facility and is commonly used for large-scale hydrogen production purposes.
Key Takeaways
The global U.S. Europe And Asia Industrial Hydrogen market is expected to witness high growth, exhibiting a CAGR of 4.9% over the forecast period, due to increasing demand for hydrogen from petroleum refining and chemical industries.
Regional analysis
Asia Pacific region is projected to be the fastest growing as well as dominating regional market over the forecast period. Countries in Asia Pacific like China, Japan, and India have presence of large industrial and chemical sectors that drive the high demand for industrial hydrogen in the region.
Key players
Key players operating in the U.S. Europe And Asia Industrial Hydrogen market are Linde Group, Air Liquide, Air Products, Air Water, Taiyo Nippon Sanso, Messer Group, and Yingde Gases. Linde Group is the global market leader with strong production capacity and supply network across major markets.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
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