September 2, 2019

hydrogen technologies Market Revenue to Rise Substantially Owing to Increasing End-use Adoption

The U.S. market for hydrogen feedstock should increase from 14.8 million metric tons in 2018 to 17.2 million metric tons in 2023 at a compound annual growth rate (CAGR) of 3.1% for 2018-2023.

Report Scope:

This BCC Research report focuses on key hydrogen technologies and applications. It provides data on the size and growth of both captive and merchant hydrogen markets, company profiles, patent trends, and industry trends. Cutting-edge developments, research priorities and potential business opportunities are a key focus.

The report focuses on the following –
– The structure of the hydrogen industry, its driving forces, its competitive aspects, market segmentation, distribution channels, pricing, and technology.
– Analysis of global market trends, with data for 2017, estimates for 2018 and projections of compound annual growth rates (CAGRs) through 2023.
– Assessment of hydrogen demand, with five-year forecasts.
– Reviews of global environmental and energy regulations.
– Company profiles.
– Patent activity.

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Report includes:

– 40 tables
– An overview of the global market for hydrogen as a chemical constituent and as an energy source
– Analyses of global market trends, with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023.
– Detailed description about cutting-edge developments in areas such as nanotechnology, biological processing, and others
– Identification of key hydrogen technologies and applications that yield potential business opportunities in the hydrogen industry
– Review of global environmental and energy regulations
– Company profiles of the major players of the industry, including Accentus Plc, Advanced Materials Corp., Bloom Energy Corp., Exxonmobil, General Hydrogen, Hydrogenics Corp., Shell Oil, Toshiba Corp., Toyota Motors, Valero Energy Corp., United Hydrogen Group and Ztek Corp.


Annual U.S. production of hydrogen was an estimated REDACTED million metric tons (MMT) in 2017. World production the same year was about REDACTED MMT, which means that the U.S. accounted for almost 13% of total world output of hydrogen.

The largest energy-related application of hydrogen is in refining. The market drivers of petroleum processing demand for hydrogen are fuel emission standards, the increasing proportion of low-quality heavy sour crudes and growing demand for low sulfur diesel.

In addition, hydrogen can be burned as a fuel to perform work directly, or it can be converted into electricity using a fuel cell. At present, transportation applications consume a negligible portion of the world’s hydrogen production. As of the end of 2017, there were only about 6,500 fuel cell vehicles (FCVs) in the world, with half of them in California. Projections vary, but the most realistic projections peg the number of FCVs on the road at around 70,000 in 2023, which could consume a total of 10,000 tons of hydrogen per year.

Hydrogen is also an important chemical intermediate. Production pathways can be direct, such as via methane steam reforming or electrolysis, or indirect, for example, as a byproduct of chlorine and caustic soda production. Demand for hydrogen in ammonia production is the second-largest segment of the market after refining, followed by methanol production.

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