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Rapid increase in prices of fuels and increasing pollution due to combustion of fossil fuels are some key factors driving market revenue growth

VANCOUVER, B.C., CANADA, April 24, 2023 /EINPresswire.com/ -- The global blue hydrogen market size reached USD 1.02 Billion in 2021 and is expected to register a revenue CAGR of 14.8% during the forecast period, according to latest analysis by Emergen Research. Rapid increase in fuel prices and increasing pollution due to combustion of fossil fuels are expected to support market revenue growth during 2022-2030.

It is anticipated that the rapid climate change brought on by global warming would raise demand for greener alternatives with lower emissions. The atmosphere warmed by approximately 1.1° C between 1850 and 1900, according to a recent report by the Intergovernmental Panel on Climate Change (IPCC), and the average global temperature over the next 20 years is expected to be 1.5° C or higher than pre-industrial levels.

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Rapid climate change brought on by global warming has had a negative impact on weather patterns, resulting in erratic rainfall, droughts, and desertification, which has a negative impact on agricultural output and a positive impact on the rate of world hunger. As a result, the demand for blue hydrogen as an alternative energy source is anticipated to rise, propelling market revenue growth over the course of the forecast year.

Fuel prices are rising quickly, which has increased demand for clean, alternative energy sources like blue hydrogen. Due to a slower increase in supply and a correspondingly faster increase in demand, which has contributed to price inflation, crude oil prices have been rising gradually since the middle of 2020. Major oil exporters have formed cartels that are primarily in charge of controlling crude oil prices. Organisation of the Petroleum Exporting Countries (OPEC) and other nations that coordinate output with OPEC, such as Russia, declared in December 2020 that they would continue to restrict production during 2021 in order to sustain higher crude oil prices.

Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Some major companies profiled in the global market report include Royal Dutch Shell PLC, Linde plc, Air Products Inc., Cummins Inc., Siemens Energy (Siemens AG), Toshiba Energy Systems & Solutions Corp., Equinor ASA, CertifHy Canada Inc., Xebec Adsorption Inc., and Uniper SE.

Some Key Highlights From the Report

Gas partial oxidation segment is expected to register a significantly rapid revenue CAGR during the forecast period, due to rising demand for blue hydrogen and declining dependency on fossil fuels to reduce emissions.

Petroleum refinery segment is expected to register a robust revenue growth rate over the forecast period, due to rising demand for natural gas, which is an important raw material for producing blue hydrogen.

North America is expected to register a steady revenue growth rate in the global blue hydrogen market over the forecast period, which can be attributed to strong presence of international and domestic enterprises involved in the production of blue hydrogen, such as CertifHy Canada Inc., Air Products Inc., Xebec Adsorption Inc., and Cummins Inc., among others, in countries in the region.

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Emergen Research has segmented the global blue hydrogen market on the basis of technology, end-use, and region:

Technology Outlook (Revenue, USD Billion, Volume, Metric Ton; 2019–2030)

Steam Methane Reforming (SMR)

Autothermal Reforming (ATR)

Gas Partial Oxidation

End-use Outlook (Revenue, USD Billion, Volume, Metric Ton; 2019–2030)

Power Generation

Chemical Industries

Petroleum Refinery

Others

Key reasons to buy the Global Blue Hydrogen Market report:

The latest report comprehensively studies the global Blue Hydrogen market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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Regional Outlook:

North America (the U.S., Canada, Mexico)

Europe (the U.K., Germany, France, Italy)

Asia Pacific (India, China, Japan, Korea)

Latin America (Brazil, Argentina, Ecuador, Chile)

Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)

ToC of the report:

Chapter 1: Market overview and scope

Chapter 2: Market outlook

Chapter 3: Impact analysis of COVID-19 pandemic

Chapter 4: Competitive Landscape

Chapter 5: Drivers, Constraints, Opportunities, Limitations

Chapter 6: Key manufacturers of the industry

Chapter 7: Regional analysis

Chapter 8: Market segmentation based on type & applications

Chapter 9: Current and Future Trends

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