Comprehensive Hydrogen Market Forecast 2023-2032: Growth Rate, Drivers, And Trends

The Hydrogen Global Market Report 2023 by The Business Research Company, provides hydrogen market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Hydrogen Global Market Report 2023, the market size is expected to grow from $13.57 billion in 2022 to $15.96 billion in 2023 at a compound annual growth rate (CAGR) of 17.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global hydrogen is expected to grow from $29.54 billion in 2027 at a CAGR of 16.6%.

New developments are taking place in healthcare with an 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 hydrogen plants for the power generation process. Treatments and drug developments using induced pluripotent stem cells (IPS) 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.

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The hydrogen market is segmented:

1) By Mode of Distribution: Pipeline, High-Pressure Tube Trailers, Cylinders

2) By Application: Chemical, Refinery, Metal processing, Other Applications

3) By End User: Chemicals, Aerospace and Automotive, Energy, Refining, Glass, Welding and Metal Fabrication, Other End Users

Hydrogen manufacturing companies have started adopting the technology of manufacturing hydrogen from sewage. Hydrogen gas can be manufactured from sewage sludge for use in chemicals, fertilizers, transportation, and manufacturing industries. In this process, the weight of the sewage sludge is reduced by means of dehydration, followed by incineration, melting, composting, and drying. This process can be used to produce hydrogen on a large scale for supply to the manufacturing and transportation industries. Companies such as Fuel Cell Energy and Graforce Hydro are investing in this technology. Los Angeles Fuel Cell Energy Inc. is one of the hydrogen manufacturers that operates the world’s largest ‘tri-generation plant’ that converts sewage into electrical power and renewable hydrogen for transportation fuel.

The hydrogen market report table of contents includes:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
…………………………………………..
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Hydrogen Market, Conclusions And Recommendations
23. Appendix

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