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Industrial Hydrogen Market

Industrial Hydrogen Sales on an Upsurge In US, Europe, And Asia, Driven by High Adoption Rate in LED and Semiconductor Industry

ID: PMRREP11812
Calendar

September 2016

101 Pages

Author : Satender Singh

Energy & Utilities

Global Industrial Hydrogen Market: Market Overview

The industrial hydrogen market in the US, Europe, and Asia are estimated to grow at a healthy pace by 2027. Multiplicity in end-use of industrial hydrogen such as electronics, metal fabrication, pharmaceutical sector, and fertilizer sector is expected to fuel this market growth. Rapidly growing LED and semiconductor industry is projected to generate growth prospects in the coming years, creating revenue prospects in the market.

The stagnant manufacturing and production during the COVID-19 have crippled the progress of the market in the US, Europe, and Asia. Low demand is set to dampen the growth rate of the market. The market is expected to resume the usual business as the relaxations increase in activities.
Market players are exploring advanced methods to cuts down high production costs. Cost-effectiveness is expected to drive the competition in the market. The manufacturers are exploring opportunities in the fuel sector to expand their product portfolio. To satiate the growing demand in the market, the market competitors are collaborating and indulging in partnerships.

They are investing in green hydrogen to strengthen their market presence. Established players in the global market include Air Liquide, The Linde group, Air Products & Chemicals Inc., Messer Group GmbH, and Praxair inc.

The industrial hydrogen market for U.S., Europe (U.K. & Germany), and Asia (South Korea & Japan) is anticipated to grow from US$ 13.6 Bn in 2016 to US$ 19.8 Bn by 2024, expanding at a CAGR of 4.9% in terms of revenue during the forecast period (2016–2024). The Electrolysis production method segment is expected to expand at a higher CAGR over the forecast period while the Electronics application segment is expected to expand at the fastest value CAGR over the forecast period.

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Market projections by segmentation

The Electrolysis segment in this market is estimated to expand at the fastest CAGR over the forecast period in terms of revenue. Sales revenue from this segment is expected to reach a market value of US$ 1.49 Bn by 2024, increasing at a CAGR of 5.2% over the forecast period.

The Conventional & Others segment is expected to hold a market value share of 92.5% by the end of 2024, representing a sales revenue of US$ 18.3 Bn. This segment is likely to expand at a CAGR of 4.8% over the forecast period.

The Electronics segment is estimated to dominate the industrial hydrogen market with 22.0% market share, valued at US$ 2.98 Bn by the end of 2016. The Electronics segment is expected to expand at the highest CAGR in terms of value during the forecast period. In terms of revenue, this segment is expected to reach a market value of US$ 4.69 Bn by 2024, expanding at a CAGR of 5.8%. In terms of value CAGR, the Electronics segment is anticipated to be followed by the Metal Production and the Pharmaceuticals & Biotechnology segments respectively.

The Glass, Metal Production, and Welding & Metal Fabrication segments are estimated to collectively account for a market volume share of 46.2% in the market by the end of 2016. The Glass, Metal Production, and Welding & Metal Fabrication segments are also expected to create significant opportunities in the industrial hydrogen market between 2016 and 2024.

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Key regions

In 2016, the U.S. dominated the overall industrial hydrogen market – accounting for more than 50% market share – owing to a high demand for hydrogen from across various end-use industries. The U.S. market is expected to expand at a higher CAGR than that of the Europe and Asia markets over the forecast period.

A rising demand from the electronics industry is expected to drive growth of the U.S. industrial hydrogen market. In the Europe market, sales of industrial hydrogen in Germany are expected to increase at a higher CAGR than that of the U.K. due to a strong economic outlook of the country over the forecast period.

In Asia, the industrial hydrogen markets in Japan and South Korea are expected to expand significantly over the forecast period, owing to a strong presence of electronics and glass industries in both countries.

Air Liquide, Air Products and Chemicals Inc., The Linde Group, Praxair Inc., and Messer Group GmbH are some of the primary producers of industrial hydrogen across the world.

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Companies Covered in Industrial Hydrogen Market

Producer Analysis

  • Air Liquide
  • Air Products & Chemicals Inc.
  • Praxair inc.
  • The Linde group
  • Messer Group GmbH
  • Others.
Market Segment

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Table of Content

1. Executive Summary

2. Research Methodology

3. Assumptions and Acronyms Used

4. Industrial Hydrogen Market Overview

    4.1. Market Definition

    4.2. Market Taxonomy

    4.3. Product Overview

    4.4. Production Method Overview

5. Application/ End-use Overview

6. Market Dynamics

    6.1. Drivers

    6.2. Challenges

    6.3. Opportunity

    6.4. Trends

    6.5. Key Regulations

7. Market Analysis and Forecast, By Production Method

    7.1. Introduction

        7.1.1. Basis Point Share (BPS) Analysis

        7.1.2. Y-o-Y Growth Projections

    7.2. Market Size (US$ Mn) and Volume (KT) Forecast By Production Method

        7.2.1. Electrolysis

        7.2.2. Conventional & Others

    7.3. Market Attractiveness Analysis By Production Method

    7.4. Production Technology Comparison

8. Market Analysis and Forecast, By End-use

    8.1. Introduction

        8.1.1. Basis Point Share (BPS) Analysis

        8.1.2. Y-o-Y Growth Projections

    8.2. Market Size (US$ Mn) and Volume (KT) Forecast By End-use

        8.2.1. Chemicals

        8.2.2. Electronics

        8.2.3. Food & Beverage

        8.2.4. Glass

        8.2.5. Metal Production

        8.2.6. Pharmaceutical & Biotechnology

        8.2.7. Welding & Metal Fabrication

        8.2.8. Others

    8.3. Market Attractiveness Analysis By End-use

9. Market Analysis & Forecast, By Region

    9.1. U.S. Market Analysis & forecast

        9.1.1. Introduction

            9.1.1.1. Y-o-Y Growth Projections

            9.1.1.2. Market Volume & Value Forecast

        9.1.2. Market Size (US$ Mn) and Volume (Tonnes) Forecast By Production Method

            9.1.2.1. Electrolysis

            9.1.2.2. Conventional & others

        9.1.3. Market Size (US$ Mn) and Volume (Tonnes) Forecast By End-use

            9.1.3.1. Chemicals

            9.1.3.2. Electronics

            9.1.3.3. Food & Beverage

            9.1.3.4. Glass

            9.1.3.5. Metal Production

            9.1.3.6. Pharmaceutical & Biotechnology

            9.1.3.7. Welding & Metal Fabrication

            9.1.3.8. Others

        9.1.4. Market Attractiveness Analysis

            9.1.4.1. By Production Method

            9.1.4.2. By End-use

    9.2. Europe Market Analysis & forecast

        9.2.1. Introduction

            9.2.1.1. Y-o-Y Growth Projections

            9.2.1.2. Market Volume & Value Forecast

        9.2.2. Market Size (US$ Mn) and Volume (Tonnes) Forecast By Country

            9.2.2.1. U.K.

            9.2.2.2. Germany

        9.2.3. Market Size (US$ Mn) and Volume (Tonnes) Forecast By Production Method

            9.2.3.1. Electrolysis

            9.2.3.2. Conventional & others

        9.2.4. Market Size (US$ Mn) and Volume (Tonnes) Forecast By End-use

            9.2.4.1. Chemicals

            9.2.4.2. Electronics

            9.2.4.3. Food & Beverage

            9.2.4.4. Glass

            9.2.4.5. Metal Production

            9.2.4.6. Pharmaceutical & Biotechnology

            9.2.4.7. Welding & Metal Fabrication

            9.2.4.8. Others

        9.2.5. Market Attractiveness Analysis

            9.2.5.1. By Production Method

            9.2.5.2. By End-use

    9.3. Asia Market Analysis & forecast

        9.3.1. Introduction

            9.3.1.1. Y-o-Y Growth Projections

            9.3.1.2. Market Volume & Value Forecast

        9.3.2. Market Size (US$ Mn) and Volume (Tonnes) Forecast By Country

            9.3.2.1. Japan

            9.3.2.2. South Korea

        9.3.3. Market Size (US$ Mn) and Volume (Tonnes) Forecast By Production Method

            9.3.3.1. Electrolysis

            9.3.3.2. Conventional & others

        9.3.4. Market Size (US$ Mn) and Volume (Tonnes) Forecast By End-use

            9.3.4.1. Chemicals

            9.3.4.2. Electronics

            9.3.4.3. Food & Beverage

            9.3.4.4. Glass

            9.3.4.5. Metal Production

            9.3.4.6. Pharmaceutical & Biotechnology

            9.3.4.7. Welding & Metal Fabrication

            9.3.4.8. Others

        9.3.5. Market Attractiveness Analysis

            9.3.5.1. By Production Method

            9.3.5.2. By End-use

10. Producer & Consumer Analysis

    10.1. Producer Analysis

        10.1.1. Air Liquide

        10.1.2. Air Products & Chemicals Inc.

        10.1.3. Praxair inc.

        10.1.4. The Linde group

        10.1.5. Messer Group GmbH

    10.2. Supply Chain Management Analysis

    10.3. Target Consumer List

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Global Industrial Hydrogen Market: Industry Analysis, Demand & Sales | Persistence Market Research