水素市場 : 2030年までの世界予測

出版：MarketsandMarkets（マーケッツアンドマーケッツ）　出版年月：2023年7月

水素市場 : セクター [発電タイプ (グレー、ブルー、グリーン)、貯蔵 (物理、物質)、輸送 (長期、短期)]、用途[エネルギー (電力、CHP)、モビリティ、化学＆精製所 (精製所、アンモニア、メタノール)]、地域別 – 2030年までの世界予測
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

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世界の水素市場の市場規模は2023年中に2,427億ドル、2030年までに4,106億ドルに達し、予測期間の年平均成長率（CAGR）7.8％で成長すると予測されています。

MarketsandMarkets（マーケッツアンドマーケッツ）「水素市場 : セクター [発電タイプ (グレー、ブルー、グリーン)、貯蔵 (物理、物質)、輸送 (長期、短期)]、用途[エネルギー (電力、CHP)、モビリティ、化学＆精製所 (精製所、アンモニア、メタノール)]、地域別 – 2030年までの世界予測 – 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」は世界の水素市場を調査し、主要セグメント毎の分析・予測結果を提供しています。

主な掲載内容

• 市場概観
  • 市場ダイナミクス
    • 成長促進要因
    • 成長阻害要因
    • 機会
    • 課題
  • 貿易分析
  • 重要会議＆イベント
  • エコシステムマッピング
  • サプライチェーン分析
  • 価格分析
  • 特許分析
  • ケーススタディ分析
  • ファイブフォース分析
  • 主要ステークホルダーと購入基準
  • 水素輸送技術と距離の比較
  • エネルギー革命における水素の役割
• セクター別水素市場
  • 発電タイプ
    • グレー水素
    • ブルー水素
    • グリーン水素
  • 貯蔵
  • 輸送
• 用途別水素市場
  • エネルギー
  • モビリティ
  • 化学品＆精製所
  • その他
• 地域別水素市場
  • 北米
  • アジア太平洋地域
  • 欧州
  • 中東＆アフリカ
  • 南米
• 競争環境
• 企業情報
  • 水素メーカー
  • 水素貯蔵プロバイダ
  • その他の水素貯蔵プロバイダ
  • 水素輸送タンクプロバイダ
  • その他の水素輸送タンクプロバイダ
• 付録

Report Overview

The global hydrogen market is estimated to grow from USD 242.7 Billion in 2023 to USD 410.6 Billion by 2030; it is expected to record a CAGR of 7.8% during the forecast period.

Governments a are enacting favourable regulations and offering financial incentives to boost the adoption of hydrogen technologies. These programmes include funding for research and development, subsidies for hydrogen production and infrastructure, and legislation that encourage the use of hydrogen in various industries. These type of initiatives attributed to the growth of hydrogen market.

“Gray Hydrogen: The largest segment in generation type of the hydrogen market, by sector “
Based on sector, the hydrogen market has been split into three segments: generation type, storage and transportation. These segmentes are bifurcated into the subsegments. By generation type, it offers gray hydrogen, blue hydrogen and green hydrogen. Blue hydrogen is expected to be the second largest segment followed by gray hydrogen. As countries and companies seek to decrease their carbon footprints, blue hydrogen provides a bridge solution that allows them to continue using current natural gas infrastructure while transitioning to a more sustainable energy source.

“Physical storage segment is expected to be the fastest growing segment during forecast period based on storage in by sector”

By storage, the hydrogen market has been bifurcated into physical and material-based storage. The physica storage segment is expected to lead the hydrogen market during the forecast period owing to increasing demand for for gaseous hydrogen storage tanks due to stringent regulations for cleaner fuel in oil refineries and rising demand for hydrogen in the fertilizer, chemical, and steel industries. Physical hydrogen storage is widely used in transportation, chemicals, oil refineries, and other end-use industries. South Korea, Japan, the US, France, and China have launched a roadmap for alternative fuels in the automotive & transportation industry. This is supported by increasing FCEVs and composite hydrogen storage tanks for transporting hydrogen via tankers and tube trailers.

“By application, the chemical & refinery segment is expected to be the largest segment during the forecast period.”

Based on application, the hydrogen market is segmented into energy, mobility, chemical & refinery and others. The chemical & refinery segment is expected to be the largest segment the hydrogen market during the forecast period owing to the rise in demand from the fertilizer industry. Also, The emerging hydrogen economy in the chemical industry is supported by policymaker initiatives at the European and country level, estimating a required investment of € 430 billion by 2030. In North America, a significant rise is expected in methanol production. North American companies are forming strategic relations to strengthen methane and ammonia production. For instance, CF Industries Holdings, Inc. acquired a Waggaman ammonia production facility from Incitec Pivot Limited.

“Asia Pacific”: The second-largest in the hydrogen market”

Asia Pacific is expected to have the second-largest market share in the hydrogen market between 2023–2030, followed by Europe and North America. Asia Pacific is one of the key markets for green technology adoption in order to satisfy government targets for lowering GHG emissions. Because of the commercial deployment of Japanese fuel cell micro-CHP products, Japan and South Korea have been significantly investing in fuel cell adoption since 2009. Over the last five years, investments in the energy sector have increased significantly, which is likely to benefit the hydrogen generation market. China and India are the world’s most populous countries, and agricultural operations continue to play an important part in their economy.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:

• By Company Type: Tier 1- 55%, Tier 2- 25%, and Tier 3- 20%
• By Designation: C-Level- 35%, Director Levels- 30%, and Others- 35%
• By Region: North America- 25%, Europe- 35%, Asia-Pacific – 25 %, South America – 10%, Middle East & Africa – 5%.

Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The hydrogen market is dominated by a few major players that have a wide regional presence. The leading players in the hydrogen market are Linde plc (Ireland), Air products and Chemicals, Inc. (US), Air Liquide (France), Worthington Industries (US), Cryolor (France), Hexagon Purus (Norway), and NPROXX (Netherlands). The major strategy adopted by the players includes new product launches, contracts & agreements and, investments & expansions.

Research Coverage:

The report defines, describes, and forecasts the global hydrogen market by sector, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the hydrogen market.

Key Benefits of Buying the Report

• Increasing regulations concerning greenhouse gas emissions is the main factor driving the hydrogen market. Moreover, increasing efforts by governments for installation of hydrogen fueling stations and rising focus of government on achiveing net zero emissions targets by 2050 in the hydrogen market. Even though high production cost of green hydrogen is the major challenge faced by countries under hydrogen market.
• Product Development/ Innovation: The hydrogen market is witnessing significant product development and innovation, driven by the growing demand for hydrogen from industries. Companies are investing in the development of advanced hydrogen production technology that are specifically designed for the unique requirements of industry.
• Market Development: Linde plc has signed a long-term arrangement with Evonik, a well-known specialty chemicals firm, to supply green hydrogen. Linde will build, own, and operate a nine-megawatt alkaline electrolyzer facility on Jurong Island in Singapore under this arrangement. This plant’s major output will be green hydrogen, which Evonik wants to employ in the synthesis of methionine, an essential element in animal feed.
• Market Diversification: Air Products & Chemicals, Inc. announced that it has been chosen as the hydrogen and technology provider for Alberta’s first hydrogen fuel cell passenger vehicle fleet by Edmonton International Airport. Air Products will deploy a mobile hydrogen refueler at the airport to deliver hydrogen for the Toyota Mirai hydrogen fuel cell vehicle fleet.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like include Linde plc (Ireland), Air products and Chemicals, Inc. (US), Air Liquide (France), Worthington Industries (US), Cryolor (France), Hexagon Purus (Norway), and NPROXX (Netherlands).

目次

1 INTRODUCTION 27

1.1 STUDY OBJECTIVES 27
1.2 MARKET DEFINITION 28
1.3 STUDY SCOPE 28
1.3.1 INCLUSIONS AND EXCLUSIONS 28
TABLE 1 HYDROGEN MARKET: INCLUSIONS AND EXCLUSIONS 28
1.3.2 MARKETS COVERED 29
FIGURE 1 HYDROGEN MARKET SEGMENTATION 29
1.3.3 GEOGRAPHICAL SCOPE 29
1.3.4 YEARS CONSIDERED 30
1.4 CURRENCY CONSIDERED 30
1.5 LIMITATIONS 30
1.6 STAKEHOLDERS 31
1.7 IMPACT OF RECESSION 31

2 RESEARCH METHODOLOGY 32

2.1 RESEARCH DATA 32
FIGURE 2 HYDROGEN MARKET: RESEARCH DESIGN 33
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 34
FIGURE 3 DATA TRIANGULATION METHODOLOGY 34
2.2.1 SECONDARY DATA 35
2.2.1.1 Key data from secondary sources 35
2.2.2 PRIMARY DATA 35
2.2.2.1 Key data from primary sources 36
2.2.2.2 Breakdown of primaries 36
FIGURE 4 BREAKDOWN OF PRIMARIES 37
2.3 MARKET SIZE ESTIMATION 37
2.3.1 BOTTOM-UP APPROACH 38
FIGURE 5 HYDROGEN MARKET: BOTTOM-UP APPROACH 38
2.3.2 TOP-DOWN APPROACH 39
FIGURE 6 HYDROGEN MARKET: TOP-DOWN APPROACH 39
2.3.3 DEMAND-SIDE ANALYSIS 40
FIGURE 7 METRICS CONSIDERED TO ANALYZE DEMAND FOR HYDROGEN 40
2.3.3.1 Assumptions for demand-side analysis 40
2.3.3.2 Calculations for demand-side analysis 41
2.3.4 SUPPLY-SIDE ANALYSIS 42
FIGURE 8 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF HYDROGEN 42
FIGURE 9 HYDROGEN MARKET: SUPPLY-SIDE ANALYSIS 43
2.3.4.1 Assumptions and calculations for supply-side analysis 43
FIGURE 10 HYDROGEN MARKET SHARE ANALYSIS, 2022 43
2.4 GROWTH FORECAST 44
2.5 IMPACT OF RECESSION 44

3 EXECUTIVE SUMMARY 45

TABLE 2 HYDROGEN MARKET SNAPSHOT 45
FIGURE 11 BY SECTOR, GENERATION TYPE SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 46
FIGURE 12 BY APPLICATION, CHEMICAL & REFINERY SEGMENT PROJECTED TO LEAD MARKET DURING FORECAST PERIOD 46
FIGURE 13 NORTH AMERICA DOMINATED HYDROGEN MARKET IN 2022 47
4 PREMIUM INSIGHTS 48
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDROGEN MARKET 48
FIGURE 14 GROWING NEED TO REDUCE GREENHOUSE GAS EMISSIONS FROM HYDROGEN PRODUCTION PROCESSES TO FUEL MARKET GROWTH DURING FORECAST PERIOD 48
4.2 HYDROGEN MARKET, BY REGION 48
FIGURE 15 HYDROGEN MARKET IN ASIA PACIFIC TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD 48
4.3 HYDROGEN MARKET, BY SECTOR 49
FIGURE 16 GENERATION TYPE TO DOMINATE MARKET IN 2030 49
4.4 HYDROGEN MARKET, BY APPLICATION 49
FIGURE 17 CHEMICAL & REFINERY SEGMENT TO LEAD MARKET IN 2030 49
4.5 NORTH AMERICA: HYDROGEN MARKET, BY APPLICATION & COUNTRY 50
FIGURE 18 TRANSPORTATION AND US DOMINATED NORTH AMERICAN HYDROGEN MARKET IN 2022 50

5 MARKET OVERVIEW 51

5.1 INTRODUCTION 51
5.2 MARKET DYNAMICS 51
FIGURE 19 HYDROGEN MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 51
5.2.1 DRIVERS 52
5.2.1.1 Tightening greenhouse gas emission regulations 52
FIGURE 20 GREENHOUSE GAS EMISSIONS, BY SECTOR, 2022 52
5.2.1.2 Rising demand for low-emission fuel 52
5.2.1.3 Increased applications of hydrogen in fuel cell electric vehicles (FECVs) 53
5.2.1.4 Growing R&D related to green hydrogen production technologies 53
5.2.2 RESTRAINTS 53
5.2.2.1 High flammability associated with hydrogen 53
5.2.2.2 Availability of substitutes 54
5.2.3 OPPORTUNITIES 54
5.2.3.1 Rising focus of governments on achieving net zero emission targets by 2050 54
FIGURE 21 CUMULATIVE EMISSION REDUCTION, BY MITIGATION MEASURE, 2021–2050 54
5.2.3.2 Development of low-weight storage tanks for transportation 55
5.2.3.3 Government-led initiatives for developing hydrogen economy 55
TABLE 3 POLICIES BY MAJOR ECONOMIES TO STIMULATE HYDROGEN DEMAND 55
5.2.3.4 Government-led efforts for increasing installation of hydrogen fueling stations 56
5.2.4 CHALLENGES 56
5.2.4.1 Energy loss of hydrogen across value chain 56
5.2.4.2 High cost of composite material-based tanks and strict regulatory approvals 56
5.2.4.3 High cost associated with green hydrogen production 57
5.2.4.4 Integration of hydrogen into natural gas networks 57
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 58
5.3.1 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR MANUFACTURERS 58
FIGURE 22 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PLAYERS IN HYDROGEN MARKET 58
5.4 TRADE ANALYSIS 58
5.4.1 EXPORT SCENARIO 58
TABLE 4 EXPORT DATA FOR HS CODE 280410, BY COUNTRY, 2020–2022 (USD THOUSAND) 58
FIGURE 23 EXPORT DATA FOR TOP FIVE COUNTRIES, 2020–2022 59
5.4.2 IMPORT SCENARIO 59
TABLE 5 IMPORT DATA FOR HS CODE 280410, BY COUNTRY, 2020–2022 (USD THOUSAND) 59
FIGURE 24 IMPORT DATA FOR TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND) 59
5.5 KEY CONFERENCES AND EVENTS, 2023–2024 60
TABLE 6 HYDROGEN MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 60
5.6 ECOSYSTEM MAPPING 62
FIGURE 25 HYDROGEN MARKET MAP 62
5.7 SUPPLY CHAIN ANALYSIS 63
FIGURE 26 HYDROGEN MARKET: SUPPLY CHAIN ANALYSIS 63
TABLE 7 HYDROGEN MARKET: ROLE OF KEY PLAYERS IN ECOSYSTEM 63
5.8 TECHNOLOGY ANALYSIS 64
5.8.1 HYDROGEN GENERATION TECHNOLOGIES 64
5.8.2 HYDROGEN STORAGE TECHNOLOGIES 64
5.8.3 HYDROGEN TRANSPORTATION TECHNOLOGIES 65
5.9 PRICING ANALYSIS 65
5.9.1 INDICATIVE PRICING ANALYSIS, BY HYDROGEN GENERATION 65
TABLE 8 HYDROGEN GENERATION COST, BY TECHNOLOGY 66
5.9.2 INDICATIVE PRICING ANALYSIS, BY HYDROGEN STORAGE 66
TABLE 9 HYDROGEN STORAGE AVERAGE SELLING PRICE, BY REGION 66
5.9.3 PRICING ANALYSIS, BY HYDROGEN TRANSPORTATION 67
FIGURE 27 INDICATIVE COST OF HYDROGEN TRANSPORTATION, BY TRANSPORTATION MODEL 67
5.10 PATENT ANALYSIS 67
5.10.1 LIST OF MAJOR PATENTS 67
TABLE 10 HYDROGEN MARKET: INNOVATIONS AND PATENT REGISTRATIONS 67
5.11 TARIFFS AND REGULATORY FRAMEWORK 69
5.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 69
TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 69
TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 69
TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 70
5.11.2 HYDROGEN GENERATION MARKET: REGULATIONS 71
TABLE 14 REGULATORY FRAMEWORK: HYDROGEN GENERATION MARKET, BY REGION 71
5.12 CASE STUDY ANALYSIS 71
5.12.1 ASAHI KASEI CORPORATION USES SAP LEONARDO FOR GREEN HYDROGEN PRODUCTION 71
5.12.2 NATIONAL RENEWABLE ENERGY LABORATORY AND ELECTRIC HYDROGEN COLLABORATE TO DEVELOP HIGH-PERFORMANCE ELECTROLYZER COMPONENTS 72
5.12.3 NPROXX HELPS ANGLO AMERICAN DEVELOP ZERO-EMISSION MINING VEHICLES AND STORE HYDROGEN COST-EFFECTIVELY 72
5.13 PORTER’S FIVE FORCES ANALYSIS 73
FIGURE 28 HYDROGEN MARKET: PORTER’S FIVE FORCES ANALYSIS 73
TABLE 15 HYDROGEN MARKET: PORTER’S FIVE FORCES ANALYSIS 73
5.13.1 THREAT OF NEW ENTRANTS 74
5.13.2 BARGAINING POWER OF SUPPLIERS 74
5.13.3 BARGAINING POWER OF BUYERS 74
5.13.4 THREAT OF SUBSTITUTES 74
5.13.5 INTENSITY OF COMPETITIVE RIVALRY 74
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 75
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 75
FIGURE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION 75
TABLE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION 75
5.14.2 BUYING CRITERIA 75
FIGURE 30 BUYING CRITERIA FOR TOP THREE APPLICATIONS 75
TABLE 17 KEY BUYING CRITERIA, BY APPLICATION 76
5.15 HYDROGEN TRANSPORTATION TECHNOLOGY VS. DISTANCE 76
5.16 ROLE OF HYDROGEN IN ENERGY TRANSITION 76

6 HYDROGEN MARKET, BY SECTOR 77

6.1 INTRODUCTION 78
FIGURE 31 HYDROGEN MARKET, BY SECTOR, 2022 78
TABLE 18 HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 78
6.2 GENERATION TYPE 79
TABLE 19 GENERATION TYPE: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS) 79
TABLE 20 GENERATION TYPE: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 79
TABLE 21 GENERATION TYPE: HYDROGEN MARKET, BY TYPE, 2021–2030 (THOUSAND METRIC TONS) 80
TABLE 22 GENERATION TYPE: HYDROGEN MARKET, BY TYPE, 2021–2030 (USD MILLION) 80
6.2.1 GRAY HYDROGEN 80
6.2.1.1 Low cost of production to fuel demand for gray hydrogen 80
TABLE 23 GRAY HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS) 81
TABLE 24 GRAY HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 81
6.2.2 BLUE HYDROGEN 81
6.2.2.1 Rising demand for clean hydrogen to drive market 81
TABLE 25 BLUE HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS) 82
TABLE 26 BLUE HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 82
6.2.3 GREEN HYDROGEN 82
6.2.3.1 Increasing focus on achieving net zero carbon emission targets to boost demand for green hydrogen 82
TABLE 27 GREEN HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS) 83
TABLE 28 GREEN HYDROGEN: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 83
6.3 STORAGE 83
TABLE 29 STORAGE: HYDROGEN MARKET, BY TYPE, 2021–2030 (USD MILLION) 83
6.3.1 PHYSICAL 84
6.3.1.1 Increasing demand for stationary applications to drive market 84
TABLE 30 PHYSICAL: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS) 84
TABLE 31 PHYSICAL: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 84
6.3.2 MATERIAL-BASED 85
6.3.2.1 Greater reliability of material-based hydrogen storage technology to boost demand 85
6.4 TRANSPORTATION 85
TABLE 32 TRANSPORTATION: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS) 85
TABLE 33 TRANSPORTATION: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 85
TABLE 34 TRANSPORTATION: HYDROGEN MARKET, BY TYPE, 2021–2030 (THOUSAND METRIC TONS) 86
TABLE 35 TRANSPORTATION: HYDROGEN MARKET, BY TYPE, 2021–2030 (USD MILLION) 86
6.4.1 LONG DISTANCE 86
6.4.1.1 Growing hydrogen infrastructure to strengthen market 86
TABLE 36 LONG DISTANCE: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS) 86
TABLE 37 LONG DISTANCE: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 87
TABLE 38 LONG DISTANCE: HYDROGEN MARKET, BY TYPE, 2021–2030 (THOUSAND METRIC TONS) 87
TABLE 39 LONG DISTANCE: HYDROGEN MARKET, BY TYPE, 2021–2030 (USD MILLION) 87
6.4.2 SHORT DISTANCE 87
6.4.2.1 Rising demand for hydrogen for emergency responses to drive market 87
TABLE 40 SHORT DISTANCE: HYDROGEN MARKET, BY REGION, 2021–2030 (THOUSAND METRIC TONS) 88
TABLE 41 SHORT DISTANCE: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 88

7 HYDROGEN MARKET, BY APPLICATION 89

7.1 INTRODUCTION 90
FIGURE 32 HYDROGEN MARKET, BY APPLICATION, 2022 90
TABLE 42 HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION) 90
7.2 ENERGY 90
7.2.1 EFFORTS TO DECARBONIZE GLOBAL ENERGY SYSTEMS TO DRIVE MARKET 90
TABLE 43 ENERGY: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 91
TABLE 44 ENERGY: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION) 91
7.2.2 POWER GENERATION 91
7.2.2.1 Growing application of hydrogen in portable devices, backup power, and grid stabilization to benefit market 91
7.2.3 COMBINED HEAT AND POWER (CHP) 92
7.2.3.1 Efficient and sustainable approach to energy generation to strengthen market 92
7.3 MOBILITY 92
7.3.1 RAPID RISE IN DEMAND FOR FUEL CELL ELECTRIC VEHICLES TO DRIVE MARKET 92
TABLE 45 MOBILITY: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 92
7.4 CHEMICAL & REFINERY 93
7.4.1 INCREASING DEMAND FOR HYDROGEN IN REFINERIES TO LOWER SULFUR CONTENT OF DIESEL TO BENEFIT MARKET 93
TABLE 46 CHEMICAL & REFINERY: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 93
TABLE 47 CHEMICAL & REFINERY: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION) 93
7.4.2 PETROLEUM REFINERY 94
7.4.2.1 Growing need to reduce sulfur content in diesel to boost market 94
7.4.3 AMMONIA PRODUCTION 94
7.4.3.1 Increasing focus on sustainable ammonia production to fuel demand for hydrogen 94
7.4.4 METHANOL PRODUCTION 94
7.4.4.1 Rising application of methanol for transportation fuel and wastewater denitrification to strengthen market 94
7.5 OTHERS 95
TABLE 48 OTHER: HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 95

8 HYDROGEN MARKET, BY REGION 96

8.1 INTRODUCTION 97
FIGURE 33 ASIA PACIFIC MARKET EXPECTED TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 97
FIGURE 34 HYDROGEN MARKET SHARE, BY REGION, 2022 98
8.1.1 RECESSION IMPACT: INTRODUCTION 98
TABLE 49 HYDROGEN MARKET, BY REGION, 2021–2030 (USD MILLION) 98
8.2 NORTH AMERICA 99
FIGURE 35 NORTH AMERICA: HYDROGEN MARKET SNAPSHOT 99
8.2.1 NORTH AMERICA: RECESSION IMPACT 100
8.2.2 BY SECTOR 100
TABLE 50 NORTH AMERICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 100
8.2.2.1 By generation type 100
TABLE 51 NORTH AMERICA: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION) 100
8.2.2.2 By transportation 101
TABLE 52 NORTH AMERICA: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION) 101
8.2.3 BY APPLICATION 101
TABLE 53 NORTH AMERICA: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION) 101
8.2.4 BY COUNTRY 101
TABLE 54 NORTH AMERICA: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION) 101
8.2.4.1 US 101
8.2.4.1.1 Rising demand for hydrogen in petroleum refineries and fertilizer production to boost demand 101
TABLE 55 US: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 102
8.2.4.2 Canada 102
8.2.4.2.1 Growing focus on developing sustainable hydrogen economy to benefit market 102
TABLE 56 CANADA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 103
8.2.4.3 Mexico 103
8.2.4.3.1 Growing usage of alternative energy sources to drive market 103
TABLE 57 MEXICO: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 103
8.3 ASIA PACIFIC 103
FIGURE 36 ASIA PACIFIC: HYDROGEN MARKET SNAPSHOT 104
8.3.1 ASIA PACIFIC: RECESSION IMPACT 105
8.3.2 BY SECTOR 105
TABLE 58 ASIA PACIFIC: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 105
8.3.2.1 By generation type 105
TABLE 59 ASIA PACIFIC: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION) 105
8.3.2.2 By transportation 105
TABLE 60 ASIA PACIFIC: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION) 105
8.3.3 BY APPLICATION 106
TABLE 61 ASIA PACIFIC: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION) 106
8.3.4 BY COUNTRY 106
TABLE 62 ASIA PACIFIC: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION) 106
8.3.4.1 China 106
8.3.4.1.1 Favorable government initiatives to boost market 106
TABLE 63 CHINA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 107
8.3.4.2 India 107
8.3.4.2.1 Growing ammonia consumption to strengthen market 107
TABLE 64 INDIA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 108
8.3.4.3 Japan 108
8.3.4.3.1 National hydrogen strategies for emission reduction to boost market 108
TABLE 65 JAPAN: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 108
8.3.4.4 Australia 109
8.3.4.4.1 Growing government investment in hydrogen plants to benefit market 109
TABLE 66 AUSTRALIA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 109
8.3.4.5 South Korea 109
8.3.4.5.1 Increasing deployment of FCEVs to drive market 109
TABLE 67 SOUTH KOREA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 110
8.3.4.6 Rest of Asia Pacific 110
TABLE 68 REST OF ASIA PACIFIC: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 110
8.4 EUROPE 111
8.4.1 EUROPE: RECESSION IMPACT 111
8.4.2 BY SECTOR 111
TABLE 69 EUROPE: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 111
8.4.2.1 By generation type 111
TABLE 70 EUROPE: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION) 111
8.4.2.2 By transportation 112
TABLE 71 EUROPE: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION) 112
8.4.3 BY APPLICATION 112
TABLE 72 EUROPE: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION) 112
8.4.4 BY COUNTRY 112
TABLE 73 EUROPE: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION) 112
8.4.4.1 Germany 113
8.4.4.1.1 Growing adoption of fuel cell electric vehicles to augment market size 113
TABLE 74 GERMANY: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 113
8.4.4.2 France 113
8.4.4.2.1 Rising investments in renewable energy generation to benefit market 113
TABLE 75 FRANCE: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 114
8.4.4.3 UK 114
8.4.4.3.1 Increasing focus on reducing natural gas imports to drive market 114
TABLE 76 UK: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 114
8.4.4.4 Russia 115
8.4.4.4.1 Stringent government regulations to increase use of cleaner fuels to boost demand 115
TABLE 77 RUSSIA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 115
8.4.4.5 Rest of Europe 115
TABLE 78 REST OF EUROPE: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 116
8.5 MIDDLE EAST & AFRICA 116
8.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT 116
8.5.2 BY SECTOR 116
TABLE 79 MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 116
8.5.2.1 By generation type 117
TABLE 80 MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION) 117
8.5.2.2 By transportation 117
TABLE 81 MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION) 117
8.5.3 BY APPLICATION 117
TABLE 82 MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION) 117
8.5.4 BY COUNTRY 118
TABLE 83 MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION) 118
8.5.4.1 Saudi Arabia 118
8.5.4.1.1 Rising demand for low sulfur fuel in transportation to drive market 118
TABLE 84 SAUDI ARABIA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 118
8.5.4.2 UAE 119
8.5.4.2.1 Increasing use of hydrogen fuel for electricity generation to benefit market 119
TABLE 85 UAE: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 119
8.5.4.3 South Africa 119
8.5.4.3.1 Growing use of hydrogen in mining industry to boost market 119
TABLE 86 SOUTH AFRICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 120
8.5.4.4 Rest of Middle East & Africa 120
TABLE 87 REST OF MIDDLE EAST & AFRICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 120
8.6 SOUTH AMERICA 120
8.6.1 SOUTH AMERICA: RECESSION IMPACT 121
8.6.2 BY SECTOR 121
TABLE 88 SOUTH AMERICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 121
8.6.2.1 By generation type 121
TABLE 89 SOUTH AMERICA: HYDROGEN MARKET, BY GENERATION TYPE, 2021–2030 (USD MILLION) 121
8.6.2.2 By transportation 121
TABLE 90 SOUTH AMERICA: HYDROGEN MARKET, BY TRANSPORTATION, 2021–2030 (USD MILLION) 121
8.6.3 BY APPLICATION 122
TABLE 91 SOUTH AMERICA: HYDROGEN MARKET, BY APPLICATION, 2021–2030 (USD MILLION) 122
8.6.4 BY COUNTRY 122
TABLE 92 SOUTH AMERICA: HYDROGEN MARKET, BY COUNTRY, 2021–2030 (USD MILLION) 122
8.6.4.1 Brazil 122
8.6.4.1.1 Rising demand for clean hydrogen in transportation sector to benefit market 122
TABLE 93 BRAZIL: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 123
8.6.4.2 Argentina 123
8.6.4.2.1 Increasing oil refining activities to drive market 123
TABLE 94 ARGENTINA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 123
8.6.4.3 Rest of South America 124
TABLE 95 REST OF SOUTH AMERICA: HYDROGEN MARKET, BY SECTOR, 2021–2030 (USD MILLION) 124

9 COMPETITIVE LANDSCAPE 125

9.1 OVERVIEW 125
FIGURE 37 KEY DEVELOPMENTS IN HYDROGEN MARKET, 2018–2023 125
9.2 MARKET SHARE ANALYSIS, 2022 126
FIGURE 38 MARKET SHARE ANALYSIS, 2022 126
9.3 MARKET EVALUATION FRAMEWORK, 2018–2023 126
TABLE 96 STRATEGIES ADOPTED BY KEY PLAYERS, 2018–2023 126
9.4 FIVE-YEAR REVENUE ANALYSIS OF TOP COMPANIES, 2018–2022 127
FIGURE 39 SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS, 2018–2022 127
9.5 COMPETITIVE SCENARIOS AND TRENDS 128
9.5.1 DEALS 128
TABLE 97 HYDROGEN MARKET: DEALS, 2018–2023 128
9.5.2 OTHERS 129
TABLE 98 HYDROGEN MARKET: OTHERS, 2022 129
9.6 HYDROGEN GENERATION MARKET: COMPANY EVALUATION MATRIX, 2022 130
9.6.1 STARS 130
9.6.2 EMERGING LEADERS 130
9.6.3 PERVASIVE PLAYERS 130
9.6.4 PARTICIPANTS 130
FIGURE 40 KEY COMPANY EVALUATION MATRIX, 2022 131
TABLE 99 COMPANY FOOTPRINT, BY GENERATION TYPE 131
9.7 HYDROGEN STORAGE MARKET: COMPANY EVALUATION MATRIX, 2022 132
9.7.1 STARS 132
9.7.2 EMERGING LEADERS 132
9.7.3 PERVASIVE PLAYERS 132
9.7.4 PARTICIPANTS 132
FIGURE 41 HYDROGEN STORAGE MARKET: KEY COMPANY EVALUATION MATRIX, 2022 133
TABLE 100 COMPANY FOOTPRINT, BY STORAGE 133
9.8 HYDROGEN TRANSPORTATION TANK: COMPANY EVALUATION MATRIX, 2022 134
9.8.1 STARS 134
9.8.2 EMERGING LEADERS 134
9.8.3 PERVASIVE PLAYERS 134
9.8.4 PARTICIPANTS 134
FIGURE 42 HYDROGEN MARKET: KEY COMPANY EVALUATION MATRIX, 2022 135
TABLE 101 COMPANY FOOTPRINT, BY TRANSPORTATION 135
TABLE 102 COMPANY FOOTPRINT, BY APPLICATION 136
TABLE 103 COMPANY FOOTPRINT, BY REGION 137

10 COMPANY PROFILES 138

10.1 HYDROGEN PRODUCERS 138
(Business overview, Products/Solutions/Services offered, Recent developments, Deals, MnM view, Key strengths/Right to win, Strategic choices, and Weaknesses and competitive threats)*
10.1.1 LINDE PLC 138
TABLE 104 LINDE PLC: COMPANY OVERVIEW 138
FIGURE 43 LINDE PLC: COMPANY SNAPSHOT 139
TABLE 105 LINDE PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 139
TABLE 106 LINDE PLC: DEALS 140
TABLE 107 LINDE PLC: OTHERS 141
10.1.2 SHELL PLC 142
TABLE 108 SHELL PLC: COMPANY OVERVIEW 142
FIGURE 44 SHELL PLC: COMPANY SNAPSHOT 143
TABLE 109 SHELL PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 143
TABLE 110 SHELL PLC: PRODUCT LAUNCHES 144
TABLE 111 SHELL PLC: DEALS 144
TABLE 112 SHELL PLC: OTHERS 144
10.1.3 AIR PRODUCTS AND CHEMICALS, INC. 145
TABLE 113 AIR PRODUCTS AND CHEMICALS, INC.: COMPANY OVERVIEW 145
FIGURE 45 AIR PRODUCTS AND CHEMICALS, INC.: COMPANY SNAPSHOT 146
TABLE 114 AIR PRODUCTS AND CHEMICALS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 146
TABLE 115 AIR PRODUCTS AND CHEMICALS, INC.: DEALS 147
TABLE 116 AIR PRODUCTS AND CHEMICALS, INC.: OTHERS 149
10.1.4 CHEVRON CORPORATION 150
TABLE 117 CHEVRON CORPORATION: COMPANY OVERVIEW 150
FIGURE 46 CHEVRON CORPORATION: COMPANY SNAPSHOT 151
TABLE 118 CHEVRON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 151
TABLE 119 CHEVRON CORPORATION: DEALS 152
10.1.5 AIR LIQUIDE 153
TABLE 120 AIR LIQUIDE: COMPANY OVERVIEW 153
FIGURE 47 AIR LIQUIDE: COMPANY SNAPSHOT 154
TABLE 121 AIR LIQUIDE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 154
TABLE 122 AIR LIQUIDE: PRODUCT LAUNCHES 155
TABLE 123 AIR LIQUIDE: DEALS 155
10.1.6 SAUDI ARABIAN OIL CO. 157
TABLE 124 SAUDI ARABIAN OIL CO.: COMPANY OVERVIEW 157
FIGURE 48 SAUDI ARABIAN OIL CO.: COMPANY SNAPSHOT 158
TABLE 125 SAUDI ARABIAN OIL CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 158
10.1.7 UNIPER SE 159
TABLE 126 UNIPER SE: COMPANY OVERVIEW 159
FIGURE 49 UNIPER SE: COMPANY SNAPSHOT 160
TABLE 127 UNIPER SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 160
10.2 HYDROGEN STORAGE PROVIDERS 161
10.2.1 WORTHINGTON INDUSTRIES INC. 161
TABLE 128 WORTHINGTON INDUSTRIES INC.: COMPANY OVERVIEW 161
FIGURE 50 WORTHINGTON INDUSTRIES INC.: COMPANY SNAPSHOT 162
TABLE 129 WORTHINGTON INDUSTRIES INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 162
TABLE 130 WORTHINGTON INDUSTRIES: PRODUCT LAUNCHES 163
TABLE 131 WORTHINGTON INDUSTRIES: DEALS 163
TABLE 132 WORTHINGTON INDUSTRIES: OTHERS 164
10.2.2 INOX INDIA LIMITED 165
TABLE 133 INOX INDIA LIMITED: COMPANY OVERVIEW 165
TABLE 134 INOX INDIA LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 165
10.2.3 CRYOLOR 167
TABLE 135 CRYOLOR: COMPANY OVERVIEW 167
TABLE 136 CRYOLOR: PRODUCTS/SOLUTIONS/SERVICES OFFERED 167
10.2.4 PRAGMA INDUSTRIES 168
TABLE 137 PRAGMA INDUSTRIES: COMPANY OVERVIEW 168
TABLE 138 PRAGMA INDUSTRIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 168
10.2.5 BNH GAS TANKS 169
TABLE 139 BNH GAS TANKS: COMPANY OVERVIEW 169
TABLE 140 BNH GAS TANKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 169
10.3 OTHER HYDROGEN STORAGE PLAYERS 170
10.3.1 OXYGEN SERVICE COMPANY, INC.(OSC) 170
10.4 HYDROGEN TRANSPORTATION TANK PROVIDERS 171
10.4.1 BAYOTECH 171
TABLE 141 BAYOTECH: COMPANY OVERVIEW 171
TABLE 142 BAYOTECH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 171
10.4.2 HEXAGON PURUS 172
TABLE 143 HEXAGON PURUS: COMPANY OVERVIEW 172
FIGURE 51 HEXAGON PURUS: COMPANY SNAPSHOT 172
TABLE 144 HEXAGON PURUS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 173
TABLE 145 HEXAGON PURUS: DEALS 173
TABLE 146 HEXAGON PURUS: OTHERS 174
10.4.3 NPROXX 175
TABLE 147 NPROXX: COMPANY OVERVIEW 175
TABLE 148 NPROXX: PRODUCTS/SOLUTIONS/SERVICES OFFERED 175
TABLE 149 NPROXX: PRODUCT LAUNCHES 175
TABLE 150 NPROXX: DEALS 176
10.4.4 LUXFER GAS CYLINDERS 178
TABLE 151 LUXFER GAS CYLINDERS: COMPANY OVERVIEW 178
TABLE 152 LUXFER GAS CYLINDERS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 178
TABLE 153 LUXFER GAS CYLINDERS: DEALS 178
10.4.5 CHART INDUSTRIES 180
TABLE 154 CHART INDUSTRIES: COMPANY OVERVIEW 180
TABLE 155 CHART INDUSTRIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 180
10.4.6 QUANTUM FUEL SYSTEMS LLC. 181
TABLE 156 QUANTUM FUEL SYSTEMS LLC.: COMPANY OVERVIEW 181
TABLE 157 QUANTUM FUEL SYSTEMS LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 181
TABLE 158 QUANTUM FUEL SYSTEMS LLC.: DEALS 181
10.5 OTHER HYDROGEN TRANSPORTATION TANK PLAYERS 183
10.5.1 AMS COMPOSITE CYLINDERS 183
10.5.2 WELDSHIP CORPORATION 183
*Details on Business overview, Products/Solutions/Services offered, Recent developments, Deals, MnM view, Key strengths/Right to win, Strategic choices, and Weaknesses and competitive threats might not be captured in case of unlisted companies.

11 APPENDIX 184

11.1 INSIGHTS FROM INDUSTRY EXPERTS 184
11.2 DISCUSSION GUIDE 185
11.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 188
11.4 CUSTOMIZATION OPTIONS 190
11.5 RELATED REPORTS 190
11.6 AUTHOR DETAILS 191