Selbyville, Delaware, Oct. 12, 2022 (GLOBE NEWSWIRE) --
The blue hydrogen market is expected to record a valuation of USD 4.5 billion by 2030, according to a new research report by Global Market Insights Inc.
A steady transition from conventional fuels to sustainable energy alternatives will facilitate the need for blue hydrogen. The fast-paced development of carbon capture and storage (CCS) technology has supported the demand for low-carbon fuels. Various government authorities have deployed country-specific laws to restrict carbon emissions from different sectors, such as manufacturing and refineries. The economic and environmental benefits of green fuels will drive the reliance on blue hydrogen as an energy source in the industrial sector.
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The report identifies a sustainable rise in the adoption of autothermal reforming technologies to produce blue hydrogen. Hydrogen production using autothermal reforming has many benefits including faster response time for different operations, quick start-up times, and greater production efficiency. The technique also helps users achieve better hydrogen separation and capture which maximizes product utilization. Businesses are rapidly turning towards advanced production systems to scale up R&D activities and discover more efficient low-carbon hydrogen generation techniques.
In terms of application, the blue hydrogen market from chemical segment is drifting away from fossil sources to low-carbon feedstock alternatives to sustainably produce blue diesel. Continuous private and public investments have enabled the integration of state-of-the-art CCS systems in the production of different critical chemicals such as ammonia and methanol. The rising number of chemical factories and facilities will fuel the demand for blue hydrogen as a feedstock.
North America blue hydrogen market size is projected to surpass USD 1.5 billion by 2030. The region has an extensive footprint of energy-intensive companies that rely on hydrogen. A substantial influx of investments from the public and private sectors could strengthen the low-carbon hydrogen value chain. Countries like the U.S. and Canada have deployed strict government policies over fuel consumption and carbon emissions. The imposition of federal tax and rebates will support new R&D activities to advance CCUS capabilities across the region.
Top participants operating in the blue hydrogen market are BP p.l.c., Eni, Air Products, Exxon Mobil Corporation, Shell plc, Technip Energies N.V., Equinor ASA, Woodside, Maire Tecnimont Spa, and Topsoe, among others. These leaders are partnering with other firms to develop blue hydrogen technologies and solutions.
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Partial Table of Contents (ToC) of the report:
Chapter 3 Blue Hydrogen Market Insights
3.1 Industry ecosystem analysis
3.2 Innovation & sustainability landscape
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Extensive efforts to decarbonize multiple applications
3.5.1.2 Ongoing investments for hydrogen by both private & public sectors
3.5.1.3 Stringent regulations and targets
3.5.2 Industry pitfalls & challenges
3.5.2.1 Challenges associated with carbon capture and storage infrastructure
3.6 Production cost analysis
3.7 Upcoming blue hydrogen projects
3.8 Growth potential analysis
3.9 Porter's Analysis
3.10 Competitive Landscape, 2022
3.11 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
