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Blue Hydrogen: Introduction

  • Blue hydrogen refers to hydrogen that is derived from natural gas through the process of steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction produces carbon monoxide and hydrogen. The carbon dioxide emissions produced are then captured and stored underground using the Carbon Capture, Utilization and Storage (CCUS) technology leaving nearly pure hydrogen.

Key Drivers and Restraints of Blue Hydrogen Market

  • Rise in demand for clean hydrogen in end-user industries such as chemical; and rapid industrialization & globalization are key factors driving the blue hydrogen market. Chemical is one of the major end-user industries of hydrogen. More than two-thirds of the global hydrogen production is used in the chemical industry, primarily for the synthesis of ammonia and methanol.
  • Rise in utilization of hydrogen in fuel cell-operated vehicles is expected to propel the blue hydrogen market in the near future. Fuel cell offers pollution-free transportation and can be used as a substitute for fossil fuel. Furthermore, governments of various countries across the world are promoting the use of fuel cell vehicles to reduce GHG emission. They are providing subsidies and tax benefits; and investing more in development of infrastructure for fuel cell vehicles. Thus, rise in usage of hydrogen in the automobile industry is anticipated to propel the demand for blue hydrogen during the forecast period.
  • Blue hydrogen faces social acceptance issues, as it is associated with additional costs for CO2 transport and storage and requires monitoring of stored CO2. This is likely to hamper the blue hydrogen market during the forecast period.

COVID-19 Impact Analysis

  • The COVID-19 pandemic has adversely impacted all industries, including hydrogen, due to the stringent lockdowns in all major countries. It has put the global economy in major distress. At the initial stage, demand for hydrogen significantly declined due to lockdowns. Furthermore, the supply of hydrogen was hampered, as major portion of the hydrogen is produced from natural gas reforming. However, governments of various countries across the world have eased lockdown restrictions. Therefore, the manufacturing process is steadily rising. This is driving the demand for hydrogen in industrial applications. The trend is expected to continue during the forecast period.

Chemical End-user Segment Expected to Hold Prominent Share of Global Market

  • The global blue hydrogen market can be segmented based on end-user, technology, and region
  • Based on end-user, the global blue hydrogen market can be segregated into power generation, chemical, refinery, and others. The chemical segment is projected to hold key share of the global blue hydrogen market during the forecast period. Rise in demand for hydrogen as an ingredient in many chemicals such as hydrochloric acid and ammonia is expected to propel the demand for blue hydrogen during the forecast period.
  • In terms of technology, the global blue hydrogen market can be divided into steam methane reforming, gas partial oxidation, and auto thermal reforming. Steam methane reforming technology is extensively used in hydrogen production due to its cost effectiveness.

Asia Pacific Expected to Constitute Major Share of Global Blue Hydrogen Market

  • In terms of region, the global blue hydrogen market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • The blue hydrogen market in Asia Pacific is expected to expand at a rapid pace due to the increase in demand for hydrogen in end-user industries such as chemicals, fertilizers, and refinery in countries such as China, India, and South Korea
  • Europe is also a key region of the global blue hydrogen market. The market in the region is projected to expand during the forecast period due the rise in demand for clean energy sources such as blue or green hydrogen.

Key Players Operating in Global Market

Key companies operating in the global blue hydrogen market include:

  • ATCO LTD.
  • Linde plc
  • Air Liquide
  • Suncor Energy Inc.

Global Blue Hydrogen Market: Research Scope

Global Blue Hydrogen Market, by Technology

  • Steam Methane Reforming
  • Gas Partial Oxidation
  • Auto Thermal Reforming

Global Blue Hydrogen Market, by End-user

  • Chemical
  • Refinery
  • Power Generation
  • Others

Global Blue Hydrogen Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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
  • Europe
  • 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.

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Blue Hydrogen Market