The global market for hydrogen plant and equipment investments will grow from $6.0 billion in 2017 to nearly $14.1 billion by 2022.
Albany, NY -- (SBWIRE) -- 04/17/2018 -- In order to offer the readers valuable insights on the recent trends and development, Market Research Hub (MRH) has added a report to its repository, titled 'Global Hydrogen Economy: Technologies and Opportunities Through 2022'. The research report on Global Hydrogen Economy provides the readers accurate insights on the impact of technological developments on the hydrogen economy, which will give a broader view to the stakeholders and investors on the growth prospects at a global level.
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As government across countries are encouraging environment-friendly solutions and alternatives, leading manufacturers are concentrating on utilizing hydrogen for automotive fuel. With the heightening concerns regarding the environmental impact of utilizing energy and decreasing fossil fuel supplies, manufacturers across industries are shifting towards the adoption of hydrogen as an alternative. In addition, increasing prices of gas and oil in the recent past has led to an increase in demand for hydrogen in the manufacturing industry.
Besides an efficient energy resource, preference for hydrogen continues to remain high among manufacturers attributed to its potential environmental advantages. Production of hydrogen does not have a climate-destabilizing impact and can be produced without releasing carbon dioxide in the environment. Attributed to its potential environmental benefits, adoption of hydrogen can form the basis of a sustainable energy system. Also, government in various countries are encouraging adoption of hydrogen-powered fuel cells as an alternative to gasoline and diesel to eliminate pollution.
Valuable insights offered in the report briefs the readers about the scope of growth and the impact of technological advancements, which will give the readers an extensive view of the hydrogen economy. Perspectives provided in the report discusses factors that can inhibit adoption of hydrogen, as well as factors, that are encouraging adoption of hydrogen across industries.
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Besides various factors impacting the growth of the hydrogen economy, imperative information offered in the report provides insights on the strategies adopted by leading companies that are influencing adoption of hydrogen globally. According to the report, adoption of hydrogen across industries will continue to remain impacted by the economic conditions and policies implemented by the government. With the fluctuating prices of gasoline and diesel, adoption of hydrogen, particularly in transportation industry, will vary across industries. Increasing adoption of hydrogen in the transportation industry can boost growth of the hydrogen economy. Due to low emission level and various environmental benefits, hydrogen is likely to be considered as the fuel of future.
As the global energy system is shifting towards less carbon-intensive alternatives, leading manufacturers are focusing on adopting innovative technologies for producing, transporting, converting, and storing hydrogen in various end-use applications such as fuel cells. Leading oil companies are also focusing on implementing innovative techniques for capturing and storing hydrogen. With increasing adoption of hydrogen as an alternative to most of the other energy resources, the hydrogen economy will continue to witness significant growth over the coming years.
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