Global Hydrogen Economy: Merchant Hydrogen and Hydrogen Purification Technologies

Report Code: EGY055F

Publish Date: Apr 2023

Publisher: BCC Publishing

Category: Energy

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Report Highlights

The global hydrogen technologies market should reach $38.5 billion by 2027 from $21.0 billion in 2022 at a compound annual growth rate (CAGR) of 12.9% for the forecast period of 2022 to 2027.

Report Includes

  • 33 data tables and 43 additional tables
  • An overview of the technologies and opportunities for the hydrogen economy market
  • Analyses of global market trends, with data from 2021, estimates for 2022 and projections of compound annual growth rates (CAGRs) through 2027
  • Brief description about hydrogen economy, its definitions and characteristics and coverage of the market’s dynamics, specifically growth drivers, inhibitors, and opportunities
  • Information on technologies used for production, storage, and distribution of hydrogen along with electrochemical energy conversion technologies
  • Identification of challenges and discussion on how to overcome from those to reach its commercialization potential
  • A look at the government programs and policies in support of the hydrogen economy
  • Information on recent mergers, acquisitions, collaborations, agreements, partnerships, product launches, and expansions in the market and a relevant patent analysis
  • Detailed company profiles of major players in the market, including Air Liquide, Cummins Inc., Engie S.A., ITM Power PLC and Linde Group

Report Scope

The report covers the global market for technologies used in the supply, storage and distribution of hydrogen; its conversion to other forms of energy or direct consumption as a fuel; and miscellaneous other types of hydrogen-related technology, such as hydrogen sensors. The market figures represent estimated investment costs based on data from manufacturers and a variety of other sources. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.

Report Synopsis

Report Metrics Details
Base year considered 2021
Forecast period considered 2022 to 2027
Base year market size $19.4 billion
Market size forecast $38.5 billion
Growth rate CAGR of 12.9% for the forecast period of 2022-2027
Units considered $ Millions
Segments covered electrochemical conversion, bulk distribution, storage, and other hydrogen technologies
Key Market Drivers
  • Increasing Demand for Clean Energy
  • Government Support and Funding
  • Advancements in Technology
  • Growing Interest in Hydrogen Fuel Cell Vehicles
  • Industrial and Commercial Applications
  • Energy Storage
  • High Production Cost
  • Lack of Infrastructure
  • Lack of Awareness and Limited Public Acceptance
  • Technical Challenges
  • Standardization and Regulations
Companies studied
ADVANCED EXTRACTION TECHNOLOGIES INC.AIR LIQUIDE
AIR PRODUCTS AND CHEMICALS INC.CUMMINS INC.
ELEMENT ONEENGIE S.A.
ERGENICSFUELCELL ENERGY INC.
HCE LLC.ITM POWER PLC
IWATANI CORP.LINDE PLC
MAGNA STEYR AG & CO. KGMAKEL ENGINEERING INC.
NEL ASAPOWERTECH LABS INC.
PLUG POWER INC.
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Frequently Asked Questions (FAQs)

• The investment required to build hydrogen economy is projected to grow from $19.4 billion in 2021 to $38.5 billion in 2027, at a compound annual growth rate (CAGR) of 12.9% during the forecast period.
• The hydrogen economy is growing due to the increasing demand for clean energy, government support and funding, and advancement in technologies at every stage of hydrogen economy.
• The global market for hydrogen economy is segmented on the basis of different technologies used in hydrogen supply, electrochemical conversion, bulk distribution, storage and other hydrogen technologies.
• Electrochemical conversion segment will dominate the market by the end of 2027.
• Key companies in the market include Air Liquide, Air Products and Chemicals, Inc., Linde Group, Engie, Plug Power and Toshiba Corp.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

Let us assist you! Our analysts are ready to tailor this report to your specific need. Talk to Our Analyst

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Global Hydrogen Economy: Merchant Hydrogen and Hydrogen Purification Technologies171Free
Chapter- 1: Introduction4Free
Chapter- 2: Summary and Highlights2Free
Chapter- 3: Market Overview3Free
Chapter- 4: Hydrogen Market Value Chain2Free
Chapter- 5: Market Dynamics7Free
Chapter- 6: Hydrogen Economy8Free
Chapter- 7: Government-Supported Hydrogen Initiatives13Free
Chapter- 8: Impact of COVID-19 and Russia-Ukraine War2Free
Chapter- 9: Technology Background3Free
Chapter- 10: Hydrogen Supply31Free
Chapter- 11: Hydrogen Storage20Free
Chapter- 12: Bulk Hydrogen Distribution15Free
Chapter- 13: Electrochemical Energy Conversion12Free
Chapter- 14: Direct Combustion of Hydrogen5Free
Chapter- 15: Other Hydrogen-Related Technologies6Free
Chapter- 16: Company Profiles35Free
Chapter- 17: Appendix: Acronyms3Free
Published - Jul-2019| Analyst - Andrew McWilliams| Code - EGY055E

Report Highlights

The global hydrogen plant and equipment investments market should reach $26.8 billion by 2024 from $16.1 billion in 2019 at a compound annual growth rate (CAGR) of 10.7% for the period of 2019 to 2024.

Report Includes

  • 39 data tables
  • An overview of the technologies and opportunities for the hydrogen economy market
  • Analyses of global market trends, with data from 2018, estimates for 2019 and projections of compound annual growth rates (CAGRs) through 2024
  • Brief description about hydrogen economy, its definitions and characteristics
  • Coverage of the market’s dynamics, specifically growth drivers, inhibitors and opportunities
  • Information on technologies used for production, storage and distribution of hydrogen along with electrochemical energy conversion technologies
  • Identification of challenges and how to overcome from those to reach its commercialization potential
  • A look at the government programs and policies in support of the hydrogen economy
  • Relevant patent analysis
  • Detailed company profiles of major players in the market, including Advanced Materials Corp., HCE LLC, Luxfer, Mitsubishi Hitachi Power Systems, Powertech Labs Inc., Yangtze Energy Technologies Inc. and ZTEK Corp.
Published - May-2018| Analyst - Andrew McWilliams| Code - EGY055D

Report Highlights

The global market for hydrogen plant and equipment investments will grow from $6.0 billion in 2017 to nearly $14.1 billion by 2022 with a compound annual growth rate (CAGR) of 18.6 % for the period of 2017-2022.

Report Includes

  • 39 tables
  • An overview of the global hydrogen economy with regard to technology and opportunities
  • Analyses of global market trends, with data from 2016, 2017, and projections of compound annual growth rates (CAGRs) through 2022
  • Comprehensive descriptions of key enabling technologies used in the production, storage, and distribution of hydrogen, its conversion to other forms of energy or direct consumption as a fuel; and miscellaneous other types of hydrogen-related technologies, such as hydrogen sensors
  • A look at challenges that must be overcome to reach its commercialization potential
  • Evaluations of government programs and policies in support of the hydrogen economy
  • Coverage of the market's dynamics, specifically growth drivers, inhibitors, and opportunities
  • Relevant patent analysis
  • Comprehensive company profiles of major players in the market, including Alchemix Corp., Bayerische Motoren Werke Ag, Diversified Energy Corp., Hce Llc, Luxfer Group Ltd., Materials and Systems Research Inc. and Ztek Corp.
Published - Nov-2015| Analyst - Andrew McWilliams| Code - EGY055C

Report Highlights

Global investments in building the hydrogen economy cost more than $3.4 billion in 2014, and they are expected to approach $4.8 billion in 2015 and $21.8 billion by 2020, with a compound annual growth rate (CAGR) of 35.5% from 2015 to 2020.

Report Includes

  • An overview of the global Hydrogen economy with regard to technology and opportunities.
  • Analyses of global market trends, with data from 2014, 2015, and projections of CAGRs through 2020.
  • Comprehensive descriptions of key enabling technologies used in the production, storage, and distribution of hydrogen, its conversion to other forms of energy or direct consumption as a fuel, and miscellaneous other types of hydrogen-related technology such as hydrogen sensors.
  • A look at challenges that must be overcome to reach commercialization potential.
  • Evaluations of government programs and policies in support of the hydrogen economy.
  • Coverage of the market's dynamics, specifically growth drivers, inhibitors, and opportunities.
  • Relevant patent analysis.
  • Profiles of major players in the industry.
Published - May-2010| Analyst - Andrew McWilliams| Code - EGY055B

Report Highlights

  • Global investments in building the hydrogen economy cost nearly $2 billion in 2009, and are expected to rise to exceed $2.2 billion in 2010, approaching $5.4 billion by 2015.  These figures represent a compound annual growth rate (CAGR) of 19.3% over the next 5 years.
  • Technologies for converting hydrogen to energy, particularly fuel cells, but also hydrogen internal-combustion engines and turbines in the out-years, account for the bulk of the market: $1.1 billion (56.9%) in 2009, increasing to $3.7 billion  (69%) in 2015, a compound annual growth rate (CAGR) of 23.2%.  
  • Hydrogen production technologies, while increasing in value, are expected to lose market share, i.e., from $608 million (30.7%) in 2009 to $1.1 billion (20.7%) in 2015, a compound annual growth rate (CAGR) of 11.5%.
Published - Jun-2007| Analyst - Andrew McWilliams| Code - EGY055A

Report Highlights

  • Global investments in building the hydrogen economy cost over $1.3 billion in 2006 and are expected to rise to nearly $1.7 billion in 2007 and $5.5 billion in 2012. These figures represent a CAGR of 27.0% over the next 5 years.
  • Technologies for converting hydrogen to energy, particularly fuel cells but also hydrogen internal combustion engines and turbines in the out-years, account for the bulk of the market: 78% in 2006 to 2007, declining somewhat to 76% in 2012.
  • Hydrogen storage and distribution technologies are also expected to lose market share (i.e., from 5.5% in 2006 to 3.9% in 2012). Hydrogen production technologies should increase their market share from 10.6% in 2006 to 14.3% in 2012, while other technologies' (mainly hydrogen sensors) share should remain steady at 5.9% of the market.

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Global Hydrogen Economy: Merchant Hydrogen and Hydrogen Purification Technologies
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