Hydrogen Market – Size, Share, and Opportunity Analysis by 2027 Market Overview Hydrogen is a colorless, odorless, tasteless, and flammable gaseous substance that exists in molecular forms such as water or organic compounds on the earth. It is used in a wide range of application in industries such as petroleum, chemicals, automotive, power generation, nuclear energy, aerospace, telecommunications, food and beverages, and semiconductor. The reforming of natural gas by applying heat is currently the most economical process for producing hydrogen. Request PDF Brochure of Report: https://www.coherentmarketinsights.com/insight/request-pdf/2759 Market Dynamics Increasing demand for clean energy is a major factor booting growth of the hydrogen market. Hydrogen is the cleanest form of energy as it does not emit carbon or any residue on combustion. Major economies around the world are focused on mitigating the impact of greenhouse gas emission and carbon footprint on the environment. This in turn is expected to boost use of hydrogen as fuel in the automotive industry. Proton exchange membrane cell uses hydrogen gas and oxygen gas as fuel. These fuel cells only emit water and heat and are therefore convenient as a renewable source of energy. However, hydrogen is an extremely flammable gas and lacks smell. This makes it challenging to detect leaks. Its low density poses several difficulties in storage and transport. Moreover, in terms of energy production, electrolysis and steam reforming, the two main processes of hydrogen extraction are extremely expensive. These factors are expected to adversely impact the market size over the forecast period. Market Outlook Europe is expected to hold dominant position in the global hydrogen market over the forecast period. This is due to stringent regulations and targets put up by the European Union regarding carbon and greenhouse gas emission. North America is expected to witness significant growth in the market due to increasing demand for ammonia. Moreover, increasing use of fuel cells as a source of energy in the automotive industry is also expected to boost enhance the market share in the region. Browse In-Depth Analysis Research Report: https://www.coherentmarketinsights.com/ongoing-insight/hydrogen-market-2759
Increasing demand for petroleum products from refineries is expected to impact the market growth in Asia Pacific. The market in Middle East and Africa is mainly driven by high demand for fertilizers. Key Players Major players operating in the global hydrogen market include. Air Liquide, Airgas Inc., Air Products & Chemical Inc., Xebec Adsorption Inc., Hydrogenics Corporation, Avalence LLC, Messer Group GmBH, and H2Scan Corporation. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: sales@coherentmarketinsights.com