The report on the global hydrogen market puts forth the facts that have made this industry a highly flourishing one. It lays emphasis on how the world economy is shifting its focus towards employing hydrogen in the manufacturing processes brought about by the “clean fuel” culture. The hydrogen market at present is the backbone of several industry verticals. The global refinery market uses hydrogen in processes such as petroleum hydro-cracking and hydro-treating.
Albany, NY -- (SBWIRE) -- 09/15/2015 -- The common production processes employed in the hydrogen market are electrolysis of water, coal gasification, partial oxidation (mainly of hydrocarbons), and steam reforming of natural gas. Geographically, the report systematically classifies the hydrogen market into Asia Pacific, North America, Europe, and Rest of the World.
The trend analysis included in the report indicates that despite the U.S. being the largest demand base for the global hydrogen market, it is the dragon economy of China that will voraciously consume hydrogen in the years to come. China will also address the issue of vehicular emissions via the implementation of regulatory standards that discourage the use of sulfur based fuels. It is anticipated that this future market trend will significantly drive the overall hydrogen market.
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In early 2015, France-based Air Liquide, a renowned global supplier and service provider of industrial gases finally established hydrogen filling hubs meant for public use in the Japanese cities of Toyota and Nagoya.
The research report highlights the potential areas of growth in the hydrogen market via detailed analysis of demand drivers, market growth inhibitors, and also the potential growth opportunities. Few of the top performing companies in the hydrogen market are Showa Denko K.K., Hydrogenics Corporation, Taiyo Nippon Sanso Corporation, Air Products and Chemicals Inc., Air Liquide S.A., Airgas Inc., Messer Group GmbH, Linde AG, and Praxair Inc.
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One of the finest examples of the global industrial sector making optimum use of an abundantly available resource is hydrogen. The global petroleum market is a major end user in the hydrogen market. In fact, it outpaces all other end users in the global hydrogen industry.
This, in a way, indicates that changes in the demand conditions facing the petroleum market will have a direct and immediate impact on the performance of the global hydrogen market. The demand for clean fuels to support the environment sustainability drive is gaining momentum globally. The burgeoning demand for hydrogen is the result of such a development. Stringent environmental regulations – a prominent factor impacting most industries today – also fuel the overall hydrogen market. This is so because existing environmental regulations mostly encourage the use of fuels that have lower sulfur levels. This is also generating high demand for hydrogen required for manufacturing such fuels on a commercial scale.
Hydrogen is used either independently or in combination with other components in various industry verticals which include metals, chemicals, food processing, float glass, and semiconductors. Suppliers of hydrogen stand a fair chance of earning greater revenue owing to the surging consumption of hydrogen by petroleum refineries scattered all over the world. In addition to petroleum, the refining of hydrocarbons and natural gas involves the application of hydrogen as the primary feedstock.
Being on an industrial expansion mode, Asian economies such as India and China are anticipated to demand enormous quantities of hydrogen in the forthcoming years. Japan has set aside a budget worth ¥2.05 billion to support companies engaged in the development of electric power facilities that run on hydrogen.
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