Scienza e Tecnologia
Global Hydrogen Market Revenue to Jump to $196,934.5 Million by 2030, says P&S Intelligence
The COVID-19 pandemic hampered the progress of the hydrogen market, as the imposition of lockdowns led to the shutting down of various industries, including steel, chemical processing, and crude oil refining. Additionally, the closure of borders caused disruptions in natural gas supply, which subsequently affected the production and sale of hydrogen.
Linde Plc, Air Products and Chemicals Inc., Showa Denko K.K., Iwatani Corporation, Yateem Oxygen, Air Liquide S.A., SOL SpA, Nel ASA, Air Water Inc., and Messer Group GmbH are some of the major hydrogen market players.
The hydrogen storage market is expected to demonstrate a 7.6% CAGR during 2016–2026 (forecast period) owing to the booming demand for low-emission fuels, surging use of hydrogen cells in the lubricant, transportation, and oil and gas industries, and increasing consumption of methanol and ammonia across the world.
Geographically, the energy storage market is expected to boom in the Asia-Pacific (APAC) region in the forthcoming years. This will be because of the increasing engineering, procurement, and construction (EPC) activities in the regional countries such as China , India , and Japan .
Globally, the North American flywheel energy storage market generated the highest revenue in 2020, and it is expected to continue this trend throughout the forecast period as well.
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Prajneesh Kumar
P&S Intelligence
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