Merchant Hydrogen Market

Merchant Hydrogen Market Segmentation by Source (Steam Methane Reforming, Electrolysis, and Other); by Application (Jet Fuel, Gasoline, Metallurgy, Drugs & Medicines, and Others); by End-User Industry (Pharmaceutical, Automotive, Oil & Gas, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3197 | Published On: Apr 04, 2022
  1. Introduction
    • Market Definition
    • Market Segmentation
    • Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
  4. Research Process
    • Primary Research
    • Manufacturers
    • Distributors
    • End Users
    • Secondary Research
    • Market Size Estimation
  5. Executive Summary - Global Advanced Therapy Medicinal Products Market
  6. Analysis of Market Dynamics
  7. Drivers
  8. Trends
  9. Key Market Opportunities for Business Growth
  10. Major Roadblocks for the Market Growth
  11. Regulatory & Standard Landscape
  12. Value Chain Analysis
  13. Potential ATMP Treatment Analysis
  14. Pricing Analysis of Global Advanced Therapy Medicinal Products Market
  15. Use Case Analysis
  16. Pipeline Analysis
  17. Analysis on the Manufacturing Process
  18. Analysis of COVID-19 Impact on the Global Advanced Therapy Medicinal Products Market
  19. Analysis of End-User Market Share of Global Advanced Therapy Medicinal Products
  20. Competitive Positioning
  21. Competitive Landscape
  22. Market Share Analysis of Major Players (%), 2021
  23. Competitive Benchmarking
  24. Novartis AG.
  25. Takeda Pharmaceutical Company Limited
  26. Gilead Sciences, Inc.
  27. Bluebird Bio, Inc
  28. BioMarin Pharmaceutical Inc
  29. Vericel Corporation
  30. Mallinckrodt Pharmaceuticals
  31. UniQure N.V.
  32. JCR Pharmaceuticals Co., Ltd.
  33. Spark Therapeutics, Inc. (Parent Company: Roche)
  34. Kolon TissueGene, Inc.
  35. Global Advanced Therapy Medicinal Products Market Outlook
  36. By Value (USD million)
  37. By Product
  38. CAR-T Therapy, 2021-2031F (USD million)
  39. Gene Therapy, 2021-2031F (USD million)
  40. Cell Therapy, 2021-2031F (USD million)
  41. Tissue Engineered Product, 2021-2031F (USD million)
  42. By Disease
  43. Oncology, 2021-2031F (USD million)
  44. Genetic Disorders, 2021-2031F (USD million)
  45. CNS, 2021-2031F (USD million)
  46. Dermatology, 2021-2031F (USD million)
  47. Others, 2021-2031F (USD million)
  48. By End-User
  49. Hospitals & Clinics, 2021-2031F (USD million)
  50. Research & Academic Institutes, 2021-2031F (USD million)
  51. Global Advanced Therapy Medicinal Products Market by Region
  52. North America, 2021-2031F (USD million)
  53. Europe, 2021-2031F (USD million)
  54. Asia-Pacific, 2021-2031F (USD million)
  55. Latin America, 2021-2031F (USD million)
  56. Middle East & Africa, 2021-2031F (USD million)
  57. North America Advanced Therapy Medicinal Products Market Outlook
  58. By Value (USD million)
  59. By Product
  60. CAR-T Therapy, 2021-2031F (USD million
  61. Gene Therapy, 2021-2031F (USD million)
  62. Cell Therapy, 2021-2031F (USD million)
  63. Tissue Engineered Product, 2021-2031F (USD million)
  64. By Disease
  65. Oncology, 2021-2031F (USD million)
  66. Genetic Disorders, 2021-2031F (USD million)
  67. CNS, 2021-2031F (USD million)
  68. Dermatology, 2021-2031F (USD million)
  69. Others, 2021-2031F (USD million)
  70. By End-User
  71. Hospitals & Clinics, 2021-2031F (USD million)
  72. Research & Academic Institutes, 2021-2031F (USD million)
  73. By Country
  74. US, 2021-2031F (USD million)
  75. Canada, 2021-2031F (USD million)
  76. Europe Advanced Therapy Medicinal Products Market Outlook
  77. By Product
  78. By Disease
  79. By End User
  80. By Country
  81. UK, 2021-2031F (USD Million)
  82. Germany, 2021-2031F (USD Million)
  83. France, 2021-2031F (USD Million)
  84. Italy, 2021-2031F (USD Million)
  85. Spain, 2021-2031F (USD Million)
  86. Russia, 2021-2031F (USD Million)
  87. Netherlands, 2021-2031F (USD Million)
  88. Rest of Europe, 2021-2031F (USD Million)
  89. Asia Pacific Advanced Therapy Medicinal Products Market Outlook
  90. By Product
  91. By Disease
  92. By End User
  93. By Country
  94. China, 2021-2031F (USD Million)
  95. India, 2021-2031F (USD Million)
  96. Japan, 2021-2031F (USD Million)
  97. South Korea, 2021-2031F (USD Million)
  98. Singapore, 2021-2031F (USD Million)
  99. Australia, 2021-2031F (USD Million)
  100. Rest of Asia-Pacific, 2021-2031F (USD Million)
  101. Latin America Advanced Therapy Medicinal Products Market Outlook
  102. By Product
  103. By Disease
  104. By End User
  105. By Country
  106. Brazil, 2021-2031F (USD Million)
  107. Argentina, 2021-2031F (USD Million)
  108. Mexico, 2021-2031F (USD Million)
  109. Rest of Latin America, 2021-2031F (USD Million)
  110. Middle East & Africa Advanced Therapy Medicinal Products Market Outlook
  111. By Product
  112. By Disease
  113. By End User
  114. By Country
  115. GCC, 2021-2031F (USD Million)
  116. Israel, 2021-2031F (USD Million)
  117. South Africa, 2021-2031F (USD Million)
  118. Rest of Middle East & Africa, 2021-2031F (USD Million)

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Inflation and Looming Recession to Haunt Businesses:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


In The News

· June 08, 2021: Cummins Inc. plans to fund production of hydrogen powered boat, invented by a research team in the Nederland.


Global Merchant Hydrogen Market Highlights over 2022-2030

The global merchant hydrogen market is estimated to garner a sizeable revenue by growing at a CAGR of ~8 % over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the increasing use of hydrogen as a clean fuel, along with other applications of hydrogen. The growing environmental awareness among people, combined with government initiatives to curb the ozone depletion is estimated to boost the market growth. Following the Paris Agreement session of 2019, where 189 countries joined the commitment to reduce carbon emission by 2030, governments of various nations are investing in the achievement of sustainable development goals. This is estimated to boost the market growth.

Merchant Hydrogen Market Graph

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The global merchant hydrogen market is segmented by source into steam methane reforming, electrolysis, and other, out of which, the steam methane reforming segment is anticipated to hold the largest share in the market during the forecast period on account of abundant availability of methane. However, this is costly, and alternative economically feasible methods are being developed, which can impact the growth of the segment. On the basis of application, the market is segmented into jet fuel, gasoline, metallurgy, drugs & medicines, and others, out of which, the gasoline segment is estimated to garner the highest revenue by the end of 2030, owing to the increasing demand for hydrogen for refining petroleum and production of gasoline. The drugs & medicines segment is also foreseen to gain significant share during the forecast period, on the back of increasing cases of CVD and other heart diseases. 


Major Macro-Economic Indicators Impacting the Market Growth

ElectricityIn 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.


Global Merchant Hydrogen Market Regional Synopsis

Regionally, the global merchant hydrogen market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of growing oil & gas industry in countries, such as, Canada, and the U.S. Canada is the 4th largest producer and exporter of oil, globally, and holds over 10% of the world’s share for oil wells. This is estimated to act as the major growth factor for the market. Furthermore, innovation in the healthcare sector, combined with the presence of major pharmaceutical companies in the region, is estimated to boost the market growth.

The market in the Europe region is estimated to witness highest CAGR over the forecast period on the back of high number of oil wells and oil refineries, along with growing international investment in the oil & gas industry in countries, such as, Russia, Poland, and Germany. Additionally, the rising automotive industry, along with the increasing environment awareness among manufacturers is estimated to raise the demand for hydrogen as a fuel. This is further projected to boost the market growth in the region.

Merchant Hydrogen Market Share Graph

The global merchant hydrogen market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Merchant Hydrogen Market Graph
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Market Segmentation

Our in-depth analysis of the global merchant hydrogen market includes the following segments:

By Source

  • Steam Methane Reforming
  • Electrolysis 
  • Others

By Application

  • Jet Fuel
  • Gasoline
  • Metallurgy
  • Drugs & Medicines
  • Others

By End-User Industry

  • Pharmaceutical
  • Automotive
  • Oil & Gas
  • Others


Growth Drivers
  • Rising Use of Hydrogen as a Green Fuel
  • Increasing Oil Wells and Production of Gasoline

Challenges

  • High Cost Required to Obtain Hydrogen


Electricity
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Top Featured Companies Dominating the Market

    • Cummins Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Airgas, Inc.
    • Air Products Inc.
    • Praxair Technology, Inc.
    • Linde plc
    • L’air Liquide S.A.
    • FuelCell Energy, Inc.
    • Bloom Energy Corporation
    • Exxon Mobil Corporation
    • General Hydrogen Corporation

Key Questions Answered in the Report

1) What are the major factors driving the growth of the merchant hydrogen market?

Ans: Growing demand for clean fuel in vehicles and increasing use of hydrogen for petroleum refining are the major factors driving the market growth.

2) What would be the CAGR of merchant hydrogen market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2022-2030.

3) What are the challenges affecting the merchant hydrogen market growth?

Ans: Very high cost of obtaining hydrogen is one of the major factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of merchant hydrogen market in future?

Ans: The market in the North America will provide the highest growth opportunities for the market during the forecast period on the back of large number of oil refineries in the region.

5) Who are the major players dominating the merchant hydrogen market?

Ans: The major players in the market are Airgas, Inc., Air Products Inc., Praxair Technology, Inc., Linde plc, L’air Liquide S.A., FuelCell Energy, Inc., Bloom Energy Corporation, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the global merchant hydrogen market?

Ans: The market is segmented by source, application, and end-user industry, and by region.

8) Which segment captures the largest market size in the application segment in the merchant hydrogen market?

Ans: The gasoline segment is anticipated to hold the largest market size over the forecast period owing to the increasing demand for hydrogen to refine petroleum.

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