The Business Research Company’s Hydrogen Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, April 27, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
New developments are taking place in healthcare with increasing emphasis on a healthier, better quality of life. Industrial gases such as hydrogen are being prepared for clinical use in pharmaceutical-based products. Hospitals such as St. Francis and VA Loma Linda have already installed capacity for hydrogen plants for power generation processes. Treatments and drug developments using induced pluripotent stem cells (IPSCs) will bring new added value to the industry through the application of systems using gases. This is indispensable for the cultivation and preservation of cells and tissues and is driving the demand for high grade industrial gases.
The hydrogen market consists of sales of hydrogen and its related services for industrial and other purposes. Hydrogen is produced as a by-product of industrial chlorine production by electrolysis. Although it requires expensive technologies, hydrogen can be cooled, compressed and purified for use in other processes on site or sold to a customer via pipeline, cylinders or trucks.
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The global hydrogen market size is expected to grow from $9.85 billion in 2020 to $10.28 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.79 billion in 2025 at a CAGR of 3%.
The hydrogen market covered in this report is segmented by mode of distribution into pipeline, high-pressure tube trailers, cylinders, by end use into chemicals, aerospace and automotive, energy, refining, glass, welding and metal fabrication, others, and by application into chemical, refinery, metal processing, others.
The major players covered in the global hydrogen market are Praxair, Inc., Air Liquide S.A., Air Products and Chemicals, Inc., INOX Air Products Ltd., Iwatani Corporation, Hydrogenics Corporation, Linde AG, Messer Group GmbH, Nuvera Fuel Cells, Taiyo Nippon Sanso Corporation, Caloric Anlagenbau, Xebec Adsorption, Showa Denko K.K. (SDK), Nel ASA, Plug Power, Ally Hitech Co. Ltd, Gulf Cryo, Teledyne Technologies.
Hydrogen Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides hydrogen market overview, forecast hydrogen market size and growth for the whole market, hydrogen market segments, and geographies, hydrogen market trends, hydrogen market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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