Vancouver, British Columbia, Dec. 07, 2020 (GLOBE NEWSWIRE) -- The Global Blue Hydrogen Market is forecast to be worth USD 2.48 billion by 2027, according to the current analysis by Emergen Research. The growing emphasis on clean hydrogen energy with low carbon content, rising usage of hydrogen fuel as an active propulsion system in the automotive industry, and speculation of blue hydrogen working as an enabler of green hydrogen are some reasons behind the growth of the market.
Additionally, an upsurge in the usage of hydrogen fuel in automotive propulsions and the growing practice of electrification in various verticals with the help of hydrogen energy have been some of the direct propelling factors behind the substantial demand for this market. Hydrogen is believed to be a game-changer in the energy sector if its low-carbon form (green or blue hydrogen) and is gaining popularity by reducing the challenges it is facing.
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The global market landscape of Blue Hydrogen is expected to remain highly competitive and consolidated, consisting of a number of both small start-ups & medium enterprises and large conglomerates. During the projected era, the increasing demand for technological development and higher diversification in offered products ensure the enormous potential for innovative players.
Further key findings from the report suggest
- In October 2020, the Netherlands announced their plans for the first hydrogen bourse in the world and became the hydrogen hub for Northwest Europe. The study published by the government commissions reveals its plans to launch the creation of a commodity exchange for hydrogen as soon as 2026. The Dutch government is deliberately emphasizing on blue or green hydrogen to help cut down carbon emissions.
- Steam Methane Reforming (SMR), being the most advanced and fairly cost-effective technology, takes up the highest market share and is expected to lead in the forthcoming years. A large number of the leading central oil & gas refinery plants and industries mostly incorporate steam methane reforming for blue hydrogen generation. The Steam Methane Reforming (SMR) sub-segment had a 65.7% market share in the year 2019.
- Europe held the highest market share owing to its huge emphasis by many countries in this region on clean energy sources like blue or green hydrogen and intuitive policies like Hydrogen Initiative Declaration is helping to further mature the market during the projected period.
- Key players in the market Royal Dutch Shell PLC, Linde plc, Air Products and Chemicals, Inc., Hydrogenics, Siemens, Toshiba Energy Systems & Solutions Corp., Equinor, CertifHy Canada Inc., Green Hydrogen Systems, and Uniper SE, among others.
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For the purpose of this report, Emergen Research has segmented the Global Blue Hydrogen Market on the basis of technology, end-use vertical, and region:
- Technology Outlook $1
- Steam Methane Reforming (SMR)
- Autothermal Reforming (ATR)
- Gas Partial Oxidation (GP)
- End-Use Vertical Outlook $1$1
- Power Generation
- Chemical Industries
- Petroleum Refinery
- Others
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- Regional Outlook (Revenue: USD Billion; Volume: Million MT; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Russia
- U.K.
- Germany
- France
- BENELUX
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Israel
- Rest of MEA
- North America
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