Hydrogen Market: Global Industry Analysis and Forecast 2014 - 2020
Hydrogen is small the stumpy mass and is readily available in the atmosphere. Good efficiency and eco-friendly nature of hydrogen are factors driving the growth of this market across the globe. Hydrogen can either be used as a chemical or a fuel. Initially, hydrogen was only used in industries such as chemical processing, petroleum recovery & refining, metal production & fabrication, and aerospace. Hydrogen is emerging as a popular fuel, and, in turn, is expected to creat opportunities for this industry in the near future. As a fuel, hydrogen is either burned directly or used in fuel cells. Hydrogen has high calorific value which is used to generate electricity through its reaction with oxygen in fuel cells. Hydrogen fuel cells are considered to be eco-friendly as the reaction occurs in electrochemical cells, wherein the only byproduct is water.
Hydrogen can be produced through two different arrays: captive production (produced and consumed on-site) and merchant production (produced at one site and consumed at another). Oil refineries, ammonia plants, methanol plants, and chlorine plants are the major captive producers of hydrogen. Out of these, oil refineries and ammonia plants are the leading producers of hydrogen. Demand for merchant hydrogen is growing at a slower pace than that of captive hydrogen. This is because small scale hydrogen consumers, the target customer base for merchant hydrogen producers, prefer to purchase hydrogen from small-scale captive plants.
Refineries and ammonia plants are the largest end users for hydrogen globally in terms of volume consumption. Hydrogen has a large number of applications in refineries, including steam reforming of methane and other hydrocarbons, gasification of oil refining residues, and various hydrotreating processes (where hydrogen is used for the removal of sulphur, normal paraffins, and aromatics). Growing investment in refineries is pushing the demand for hydrogen globally. Another factor driving the hydrogen market is the implementation of motor vehicle emissions regulations by developed countries, which, in turn, has led to growth in consumption of hydrogen as a fuel. . Ammonia production plants are the second-largest and one of the fastest growing end-user segments in the hydrogen market. The Linde Ammonia Concept (LAC), the most popular method for producing ammonia, involves the use of hydrogen for the manufacture of ammonia. This, in turn, is pushing the demand for hydrogen.
Asia-Pacific is dominating the global hydrogen market, followed by North America. China and India are the countries driving this market in the Asia Pacific region. Improving refinery capacities of these two countries are supporting the growth of this market. Currently, the U.S. is leading the global market for hydrogen. However, strong growth is projected in the hydrogen market in China; it is estimated that by 2018, China will overtake to the U.S. as the largest market for hydrogen. Growth of the hydrogen market in Europe is witnessing single digit growth, with Western Europe dominating the market in this region.
Some of the major companies present in the geosynthetics market are Air Liquide, Air Products and Chemicals, Inc., Airgas, Inc., Iwatani International Corporation, The Linde Group, Messer Group GmbH, Praxair, Inc., Showa Denko K.K., and Taiyo Nippon Sanso Corporation.
Request Full TOC: http://www.persistencemarketresearch.com/toc/4146
Key points covered in the report
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation North America Europe Asia RoW
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.-
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.
7th Floor, New York City,
NY 10007, United States,
USA - Canada Toll Free: 800-961-0353
Web: http://www.persistencemarketresearch.comBlog: http://pmrblog.com/