Portland, OR, Sept. 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global was estimated at $0.9 billion in 2021 and is expected to hit $3.5 billion by 2031, registering a CAGR of 14.1% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.9 Billion |
| Market Size in 203 | $3.5 Billion |
| CAGR | 14.1% |
| No. of Pages in Report | 377 |
| Segments Covered | Technology, End-use, Industry, and Region |
| Drivers | Emergence of various technologies to produce hydrogen including steam methane reforming, partial oxidation of oil, coal gasification, and auto thermal reforming |
| Opportunities | Presence of government initiatives to develop hydrogen economy |
| Restraints | Rapid development and innovations in technology to develop green hydrogen |
Covid-19 scenario-
- Shutdown of industrial manufacturing units led to decline in demand for solar related equipment in most of the countries across the world, which impacted the global blue hydrogen market negatively.
- Decrease in utilization of power in industrial facilities worsened the market condition even more.
- However, as governments of various countries eased off the lockdown restrictions, the demand for hydrogen in industrial applications gradually happened to restore.
The global blue hydrogen market is analyzed across technology, end-use, industry, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By technology, the steam methane reforming segment garnered more than four-fifths of the global blue hydrogen market in 2021, and would rule the roost by the end of 2031. The auto thermal reforming segment, on the other hand, would display the fastest CAGR of 16.0% from 2022 to 2031. The gas partial oxidation segment is also assessed in the study.
Based on end use, the chemical segment held more than two-thirds of the global market in 2021, and is expected to dominate by 2031. The others segment, however, would manifest the fastest CAGR of 15.0% throughout the forecast period. The power generation and refinery segments are also covered in the report.
Based on industry, the ammonia segment held nearly two-thirds of the global market in 2021, and is expected to dominate by 2031. The others segment, however, would manifest the fastest CAGR of 15.2% throughout the forecast period. The methanol segment is also analyzed in the report.
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Based on region, the market across North America generated nearly two-fifths of the global market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, simultaneously, would display the fastest CAGR of 14.7% during the forecast period. The other regions studied in the report include LAMEA and Europe.
The key market players analyzed in the global blue hydrogen industry report include Linde Plc, Suncor Energy Inc., Air Liquide S.A., Air Products Inc, Toshiba Energy Systems & Solutions Corp., Cummins Inc., Siemens Energy (Siemens AG), ATCO Ltd, Equinor ASA, Royal Dutch Shell PLC, CertifHy Canada Inc., Uniper SE, Saudi Aramco, Reliance Industries, and Xebec Adsorption Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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