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Hydrogen Gas Market - Growth, Trends, and Forecast (2020 - 2025)

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  • 120 Pages
  • August 2020
  • Region: Global
  • Mordor Intelligence
  • ID: 4787507
The hydrogen gas market is expected to witness a CAGR of above 5% during the forecast period. The major factors driving the growth of the market studied are the increasing demand for hydrogen fuel cells and growing demand from the chemicals industry. On the flip side, safety concerns regarding the usage of hydrogen gas are a major concern for the market studied.
  • The refining industry dominated the market and is likely to grow during the forecast period. This growth will be aided by the continuously increasing consumption and demand for refined products.
  • R&D of innovative technologies to adapt to hydrogen gas are likely to provide opportunities for the market studied during the forecast period.
  • North America dominated the market across the world, due to the growing adoption of novel technologies, and favorable government regulations that promote the use of hydrogen in the region.

Key Market Trends

Refining Segment to Dominate the Market Demand

The refining industry dominates the demand for hydrogen gas. In refineries, hydrogen gas is extensively used to process crude oil into refined fuels, like gasoline and diesel, and for removing contaminants, such as sulfur from refined fuels.
  • There are various hydro-treating processes in a refinery, in which hydrogen gas is used, such as hydrodesulfurization, hydroisomerization, dearomatization, and hydrocracking.
  • Approximately 75% of the hydrogen gas currently consumed worldwide, by oil refineries, comes from large hydrogen plants, which produce hydrogen from natural gas or other hydrocarbon fuels.
  • Besides, refineries also cater to their demand through hydrogen recovery from hydrogen-containing streams generated during the refining processes.
  • Due to the high demand for refined products and by-products, the downstream industry has been witnessing huge investments across the world for increasing refining capacities in the existing plants or setting up new refineries.
  • Hence, with the investment and capacity additions, the demand for hydrogen gas from the refining industry is projected to increase, globally, during the forecast period.

North America Region to Dominate the Market

The North American region dominated the global market share. The region has been witnessing noticeable investment in exploration, production, and refining sector, which is expected to drive the demand for hydrogen gas extensively in the coming years.
  • For instance, in May 2019, the Royal Dutch Shell PLC subsidiary, Shell Chemical LP, conducted advancing feasibility studies for a potential USD 1.2 billion manufacturing expansion of mono ethylene glycol (MEG) production at its 841-acre Geismar chemicals complex in Ascension Parish, Louisiana.
  • Similarly, numerous big oil companies have been looking to invest to capitalize on crude being produced from the booming Permian Basin in West Texas.
  • Besides, industries like aerospace, metal fabrication, and chemicals, and other industries have also been witnessing growth in demand, which further increases production in the region.
  • Thus, with such trends in the market, the demand for hydrogen gas from such industries is expected to increase significantly during the forecast period.

Competitive Landscape

The hydrogen gas market is a consolidated market, where major players holds significant share of the market demand. Some of the major players in the market include Air Liquide, Air Products and Chemicals, Inc., Iwatani Corporation, Linde, and Praxair Technology, Inc., among others.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Growing Infrastructure and Architectural Applications in the Asia-Pacific and Middle Eastern Countries
4.1.2 Increasing Renovation and Residential Construction in North America and Europe
4.2 Restraints
4.2.1 Higher Costs in Comparison to Conventional Coatings
4.2.2 Impact of COVID-19 Pandemic
4.2.3 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Trade Analysis
4.6 Technology Snapshot
5.1 Distribution
5.1.1 Pipeline
5.1.2 High-Pressure Tube Trailers
5.1.3 Cylinders
5.2 End-user Industry
5.2.1 Chemicals
5.2.2 Aerospace and Automotive
5.2.3 Energy
5.2.4 Refining
5.2.5 Glass
5.2.6 Welding and Metal Fabrication
5.2.7 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom France Italy Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Aditya Birla Chemicals
6.4.2 Air Liquide
6.4.3 Air Products and Chemicals Inc.
6.4.4 BASF SE
6.4.5 Gujarat Alkalies and Chemicals Limited
6.4.6 Gulf Cryo
6.4.7 Matheson Tri-Gas Inc.
6.4.8 Messer Group
6.4.9 Praxair Technology Inc.
6.4.10 The Linde Group
6.4.11 Universal Industrial Gases Inc.
7.1 Research & Development Leading to Increased Adoption
7.2 Other Opportunities

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Aditya Birla Chemicals
  • Air Liquide
  • Air Products and Chemicals Inc.
  • Gujarat Alkalies and Chemicals Limited
  • Gulf Cryo
  • Matheson Tri-Gas Inc.
  • Messer group
  • Praxair Technology Inc.
  • The Linde Group
  • Universal Industrial Gases Inc.