Biohydrogen Market Outlook
Biohydrogen is a biologically produced hydrogen for the purpose of fueling industrial or automotive application. On the daily basis hydrogen is used in petroleum and manufacturing industries such as food, chemical, and electronics. In the industry, hydrogen is mainly produced by the steam reforming reaction using non-renewable source of energy, i.e., fossil fuel. Biohydrogen is a biofuel similar to bio-ethanol and bio-gas and belongs to the advanced biofuel or the third generation biofuel. Hydrogen that is produced via the action of living organism is called as biofuel. Since, the production of biofuel does not utilize non-renewable energy resources and is a clean source of fuel. Moreover, biohydrogen usage does not produce any harmful pollutants unlike petrol and diesel, which makes it an interesting source of energy and is anticipated to have increased demand in the future from various sectors including, industrial, household, commercial.
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Environment Protection and Depleting Non-renewable Energy Sources Has Catalyzing Effect on the Global Biohydrogen Market
Hydrogen is a carrier of energy and not an energy sources itself. It has nearly three times the energy of gasoline, and produces water on use than the harmful greenhouse gases. Among the three types of biofuels; i.e., first generation, second-generation and third generation biofuels third generation biofuels are the most efficient biofuels. First-generation biofuels need food crops hence, leading to the rise in the food prices. Furthermore, biohydrogen is very convenient to collect from the bioreactor without causing any complications. These aspects of the biohydrogen makes it a most preferred type of biofuel and drives the demand in the global market.
Increasing urbanization and industrialization around the world has led to the increased usage of automobiles in the developed as well as developing nations. The rapid increase in the automobile usage resulted into non-renewable energy resources depletion rate reach a new maximum and search for the renewable and clean source of energy such as biohydrogen, has become the need of an era.
Due to the alarming incidents related to the global warming, the governments are enforced to take precautionary actions to reduce the greenhouse effects. Increasing pressure from the environment protection agencies and authoritative bodies are likely to boost the hydrogen fueled automobiles in most of the Asian countries. The increase in the usage of the clean energy automobiles is likely to create increase in the demand for the hydrogen fuel and drive the global biohydrogen market.
With the increased expenditure on research and development activities, innovations are driving the global biohydrogen market. Recently in 2018, worlds’ first hydrogen powdered street sweeper was launched in Scotland. As well as in 2018, India’s Environment Pollution Prevention and Control Authority (EPCA) has recommended hydrogen-CNG fueled buses for public transportation to control the pollution in Delhi area. Such innovations are creating new and niche market opportunity for the participants in the global biohydrogen market.
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Biohydrogen Market Segmentation
The biohydrogen market can be segmented on the basis of end use.
On the basis of end use, the biohydrogen market can be segmented as:
- Food & Beverage
Biohydrogen Market: Regional Analysis
European and North American countries lead in the market share of the global biohydrogen market production and consumption. Global market participants in biohydrogen market are concentrated in the Europe region leading to the highest market occupancy. However, considering the market awareness and increasing government funding for research and developments in other regions, market is anticipated to show the highest CAGR in the Asia region.
Biohydrogen Market: Key Participants
Some of the market participants in the biohydrogen market are:
- The Linde Group
- Air Products and Chemicals, Inc.
- BP America
- Shell Hydrogen LLC
- ExxonMobil Corporation
- Chevron Corporation
- Hydrogen Europe
- Ceres Power
- Johnson Matthey
- Fuel Cell Systems
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.