Precision Business Insights has published a report on the global hydrogen market, estimating its value at USD 261.6 Billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/hydrogen-market

Market Definition:

The lightest and most prevalent element in the universe, hydrogen is a colorless, odorless, tasteless, and extremely combustible gas that has the atomic number 1 and the chemical symbol H. Hydrogen is widely employed as a clean fuel, industrial feedstock, and energy carrier in its molecular form (H₂). When burned, it solely emits water vapor, which makes it an essential part of the shift to sustainable and emission-free energy systems.

Drivers:

1) Rising demand for clean and renewable energy.
2) Rapid growth of hydrogen fuel cell market.

The global hydrogen market segmentation:

1) By Delivery Mode: Centralized Production and Distributed Production.
2) By Production Method: Steam Methane Reforming, Partial Oxidation of Oil, Coal Gasification, Water Electrolysis and Others.
3) By End User: Chemicals, Petroleum Refining, Metal Processing, Automotive Fuel, Glass Industry, Edible Fats & Oils, Energy and Others.

Regional Overview:
The report also examines the current concerns and their Future Effects on the hydrogen market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the hydrogen market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.

·         North America (U.S., Canada)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)

·         Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)

·         Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

The competitive landscape is dominated by major players like Air Liquide, Linde plc, Air Products and Chemicals Inc, Cummins Inc, Plug Power Inc, Nel ASA, Ballard Power Systems, Bloom Energy Corporation, Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, ITM Power plc, FuelCell Energy Inc, Hydrogenics (Cummins subsidiary), Panasonic Corporation, Shell plc, BP plc, TotalEnergies SE, Engie SA, Toyota Motor Corporation, Hyundai Motor Company, Nikola Corporation, Doosan Fuel Cell Co Ltd, Kawasaki Heavy Industries Ltd, Mitsubishi Power Ltd, Reliance Industries Limited, Adani New Industries Ltd, Indian Oil Corporation Ltd, Chart Industries Inc, Hexagon Purus ASA, Haldor Topsoe A/S (Topsoe), Johnson Matthey plc, McPhy Energy SA, Air Water Inc, Iwatani Corporation, Iberdrola SA, Fortescue Future Industries (FFI), SinoHytec, Ceres Power Holdings plc, Horizon Fuel Cell Technologies, SFC Energy AG, Ballard Power Systems Europe, Enapter AG, Thyssenkrupp AG, Messer Group GmbH, Hanwha Solutions Corporation, Toshiba Corporation, Bloom Energy Japan, Green Hydrogen Systems, ReNew Power, Ørsted A/S, and BP Ventures.

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