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
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