Hydrogen Market value to hit $300 billion by 2027, Says Global Market Insights Inc.
Hydrogen Industry demand is expected to register over 9% CAGR between 2021 and 2027, supported by increasing awareness toward clean energy along with shifting focus toward green hydrogen production.
Selbyville, Delaware, April 06, 2021 (GLOBE NEWSWIRE) The hydrogen
market revenue is expected to surpass USD 300 Billion by 2027, as reported in the latest study by Global Market Insights Inc. Increasing focus toward clean energy in the emerging economies coupled with rising utilization of hydrogen in new application areas comprising metal refining, power generation and heating for buildings among others will positively enhance the industry outlook.
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The global hydrogen generation market was valued at USD 143 billion in 2019 and is projected to reach USD 201 billion by 2025; it is anticipated to grow at a CAGR of 9.2% during the forecast period.
Rising obligations to reduce greenhouse gas emissions from traditional methods has driven the hydrogen generation market growth. Furthermore, increased demand for long-term storage of renewable energy is driving the hydrogen generation market. However, the high energy consumption of hydrogen generation technologies is likely to hamper the growth of the hydrogen generation market.
The power generation segment, by end user, is expected to be the largest and the fastest-growing market from 2020 to 2030
The Worldwide Hydrogen Generation Industry is Expected to Reach $201 Billion by 2025 padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.
/PRNewswire/ According to the new market research report "Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production,.
Hydrogen Generation Market Worth $201 Billion by 2025 - Exclusive Report by MarketsandMarkets Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production, Transportation, Power Generation), Generation & Delivery Mode (Captive, Merchant), Source (Blue, Green & Grey Hydrogen), Technology, and Region - Forecast to 2025 , published by MarketsandMarkets, the Hydrogen Generation Market size is projected to reach USD 201 billion by 2025 from an estimated USD 130 billion in 2020, at a CAGR of 9.2% during the forecast period. Increasing fuel cell power generation application is driving the growth of the market. Moreover, increasing adoption of electric vehicles leads to renewable energy deployment at large scale in Asia Pacific region, creates opportunities for Hydrogen Generation Market.