According to the research report titled ‘Global Hydrogen Market: Analysis By Distribution Type, Production Type, End User, By Region, By Countries : Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global hydrogen market was appraised at USD 151.80 billion in the year 2019 and is predicted to expand with a CAGR of 5.25% between 2020 and 2025..
 

Focus towards tackling climate change in tandem with increasing levels of air toxicity are few of the major factors driving the growth of global hydrogen market. Robust technological developments associated with distribution and production of hydrogen is also compelling the overall market to attain considerable expansion in the upcoming years.
 

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Speaking of distribution type, global hydrogen market is classified into on-site productions, merchant supply and others. In terms of production type, the market is bifurcated into coals, natural gas and others. The report states that the natural gas segment is poised to garner stellar gains in the ensuing years.
 

Natural gas is witnessing high demand since it is majorly used for producing hydrogen. In fact, around 60% of hydrogen can be developed from natural gas by using SMR (steam methane reforming) processes, which in turn is fueling the segmental share.
 

However, it is to be noted that using both coal as well as natural gas as a key source of producing hydrogen leads to high CO2 levels of CO2 in the environment. Thus, rising concerns regarding GHG (greenhouse gas) emissions may negatively impact the market outlook.
 

The end-user scope of the overall industry consists of DRI, methanol, ammonia, refining, and others. Global hydrogen market size from refining segment is slated to record remunerative growth in the forthcoming period.
 

The report states that refineries have developed to be one of the most prominent end-users of hydrogen gas since it is widely used as a feedstock that converts fuel into different products. Apart from this, introduction of strict regulations which focus on reducing the Sulphur quantity in fuel have impelled the adoption of hydrogen gas for deduplication of petroleum products, thereby augmenting the overall industry remuneration.
 

Air Liquide S.A., Royal Vopak N.V., Snam S.p.A., Caloric, Linde plc, Total SE, Bp plc, Royal Dutch Shell plc, Hydrogenics, and Air Products & Chemicals Inc. are the key participants in global hydrogen market.