New York, NY -- (SBWIRE) -- 04/10/2015 -- According to a new market report published by Persistence Market Research "Global Market Study on Hydrogen: Electrolysis of Water Segment to Witness Highest Growth by 2020", the global hydrogen market was valued at 255.3 billion cubic meters in terms of volume and USD 96.6 billion in terms of value in 2013. It is expected to grow at a CAGR of 3.5% and 5.6% for volume and value respectively from 2014 to 2020, to reach an of 324.8 billion cubic meters in terms of volume and USD 141.4 billion in terms of value by 2020.

Browse the full Global Market Study on Hydrogen: Electrolysis of Water Segment to Witness Highest Growth by 2020 report at http://www.persistencemarketresearch.com/market-research/hydrogen-market.asp

Growing secondary end-user industries and increasing use of hydrogen in refinery hydro-processing are some of the major factors fuelling the growth of the hydrogen market for hydrogen fuel cell vehicles. Since hydrogen is used in petroleum refining processes, the industry is impacted by unstable growth of the latter. However, increasing demand for clean transportation (the reason for unstable growth of petroleum refining industries) is supporting growth of the hydrogen market in terms of increasing demand for hydrogen fuel stations. Hydrogen is used in petroleum hydro-treating and hydro-cracking in the refinery industry. Demand for hydrogen in petroleum refining has increased significantly over the last few years owing to stringent motor vehicle emissions regulations imposed by various governments. Developed countries follow the latest emission regulations, whereas developing countries frequently revise regulations.

Asia Pacific was the largest market for hydrogen in 2013, accounting for 31.7% and 30.3% of the global market share in terms of volume and value respectively. It was followed by North America with market shares of 29.4% (volume) and 29.7% (value) and Europe with market shares of 24.5% (volume) and 25.2% (value). From 2014 to 2020, the Asia Pacific hydrogen market is expected to expand at a CAGR of 7.0%, owing to increasing demand from countries such as India and China. Rising use of hydrogen in secondary end-user industries is expected to propel the growth of the Asia Pacific market. The market share of North America is expected to decrease to 25.7% and 26.9% in terms of volume and value respectively. The market share of Europe is expected to decrease to 21.2% and 23.5% in terms of volume and value respectively.

The hydrogen market is segmented into production and delivery (merchant and captive production), production process (gasification of coal, steam reforming of natural gases, partial oxidation of hydrocarbons, and electrolysis of water), and application (petroleum refinery, chemical production of ammonia and methanol, food processing, pharmaceutical, metal processing, and others). The captive production and delivery segment held the largest market in 2013 at 220.8 billion cubic meters in terms of volume and USD 84.1 billion in terms of value. The electrolysis of water production process is expected to witness the highest CAGR of 6.6% during the forecast period to reach 17.1 billion cubic meters by 2020.

The Linde Group dominated the global hydrogen market with 20% share in 2013, followed by Air Liquide S.A. and Praxair, Inc. with 18% and 12% shares respectively. Other major companies operating in the global hydrogen market are Messer Group GmbH, Airgas, Inc., Taiyo Nippon Sanso Corporation, Iwatani Corporation, Hydrogenics Corporation, Air Products and Chemicals, Inc., and Showa Denko K.K.

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1) Hydrogen production process segmentation

Gasification of coal
Steam reforming of natural gases
Partial oxidation of hydrocarbons
Electrolysis of water

2) Hydrogen application segmentation

Petroleum refinery
Chemical production
Ammonia production
Methanol production
Food processing
Pharmaceutical
Metal processing
Others

3) The report covers geographic segmentation

North America

The U.S.
Canada

Europe

Western Europe
Eastern Europe

Asia Pacific

China
India
Japan

Rest of the World

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