Increasing Demand for Hydrogen in Energy Sector to Drive Growth in the U.S. Europe And Asia Industrial Hydrogen Market

U.S. Europe And Asia Industrial Hydrogen Market

 Market Overview:

The U.S. Europe And Asia Industrial Hydrogen Market primarily produces and distributes hydrogen for various industrial applications. Some key end-use industries of industrial hydrogen include refining, chemical, metals, and electronics. Hydrogen finds applications as a fuel in refineries to remove excess sulfur from gasoline and diesel. In the chemical industry, it is used to produce ammonia which is then converted into fertilizers. Metals manufacturers utilize hydrogen for reducing metallic oxides to pure metals like aluminum and iron. Electronics grade hydrogen is employed to manufacture semiconductors and solar cells. The market is driven by the rising demand for cleaner fuels and increasing focus on decarbonizing industries.

Market key trends:

One of the major trends in the U.S. Europe And Asia Industrial Hydrogen Market is the increasing focus on producing hydrogen via low-carbon methods like electrolysis. Many large hydrogen producers are investing in electrolysis plants powered by renewable energy to manufacture green hydrogen. For instance, Linde Group is building a 20 MW proton exchange membrane electrolysis plant in Denmark. Additionally, technologies like carbon capture and storage are enabling production of blue hydrogen from natural gas which is being adopted by players like Air Liquide. Another notable trend is the rising demand for hydrogen from the transportation sector for use in fuel cell vehicles and as a cleaner fuel alternative for ships and trucks. This is encouraging infrastructure development for delivery and dispensing of hydrogen at fueling stations.

Porter’s Analysis

Threat of new entrants: Low capital requirements and established buyers reduce threat of new entrants in the U.S. Europe And Asia Industrial Hydrogen Market. However, presence of major players with large production capacity poses significant barrier.

Bargaining power of buyers: Large buyers such as oil refineries and chemical companies have high bargaining power due to their bulk purchase volume. They negotiate on price and demand better services.

Bargaining power of suppliers: Major suppliers such as Linde Group and Air Liquide have significant control over supply and price. Their integrated production setup also strengthens their position.

Threat of new substitutes: No cost-effective substitutes exist for hydrogen in key end-use industries such as refining and chemicals. However, solar and wind energy pose long-term threat as substitute.

Competitive rivalry: Intense competition exists among major players to gain higher market share through capacity expansion and strategic partnerships.

Key Takeaways

The global U.S. Europe And Asia Industrial Hydrogen Market is expected to witness high growth, exhibiting CAGR of 4.9% over the forecast period, due to increasing demand from refining industry.

Regional analysis: Asia Pacific dominates the global market led by China, India and Japan. Growing petrochemical industry and crude oil refining capacity in the region drives the demand. Europe is the second largest market driven by Germany, UK and France.

Key players operating in the U.S. Europe And Asia Industrial Hydrogen Market are Linde Group, Air Liquide, Air Products, Air Water, Taiyo Nippon Sanso, Messer Group, Yingde Gases. Linde Group has the largest market share of over 25% due to its integrated production business model and long-term supply agreements with major customers. Air Liquide follows with close to 20% share.

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https://www.dailyprbulletin.com/u-s-europe-and-asia-industrial-hydrogen-market/