Water As A Fuel Market Size 2025-2029
The water as a fuel market size is forecast to increase by USD 4.7 billion, at a CAGR of 12.5% between 2024 and 2029.
The global water as a fuel market is advancing, driven by international commitments to decarbonization and net-zero targets. This policy push positions green hydrogen production as a key component in the broader alternative fuels market, essential for decarbonizing heavy industry and transport. The strategic development of integrated hydrogen hubs is a major trend, creating economies of scale by co-locating production and consumption. These hubs minimize infrastructure costs and de-risk investments in the hydrogen value chain. However, the high production cost of green hydrogen remains a significant barrier, impacting its competitiveness against fossil fuels and challenging the economic viability of new projects without substantial policy support for this clean energy carrier.These integrated ecosystems facilitate the deployment of hydrogen fuel cells and electrolyzer technology, supporting applications from industrial feedstock to fuel cells for marine vessels. The development of hydrogen infrastructure is crucial for realizing its potential in the aviation fuel market and for establishing natural gas refueling stations that can be repurposed. Effective water and wastewater management practices are also important for ensuring sustainable sourcing for electrolysis. By creating a complete value chain, these hubs foster innovation among technology providers and end-users, setting the stage for a scalable hydrogen economy and enabling the transition toward zero-emission fuel sources for a variety of sectors and applications.
What will be the Size of the Water As A Fuel Market during the forecast period?
Explore in-depth regional segment analysis with market size data - historical 2019 - 2023 and forecasts 2025-2029 - in the full report.
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The evolution of the global water as a fuel market is being shaped by ongoing advancements in electrolysis technology and the expanding applications of green hydrogen production. Innovations in proton exchange membrane and solid oxide electrolysis cells are improving efficiency and reducing costs. This progress is critical for integrating hydrogen into the broader alternative fuels market. The focus is on achieving scalable, low-carbon hydrogen solutions that can support decarbonization strategies across multiple sectors, including industry and transportation, while contributing to effective water and wastewater management.Market activities are increasingly centered on developing a complete hydrogen value chain, from electrolyzer manufacturing to the deployment of hydrogen fuel cells. The establishment of hydrogen infrastructure, such as pipelines and natural gas refueling stations adapted for hydrogen, is underway. As an energy carrier, hydrogen is being positioned for long-duration energy storage and as a key component in the future of the aviation fuel market. These developments reflect a dynamic shift towards creating resilient hydrogen supply chains capable of meeting future demand for zero-emission fuel.
How is this Water As A Fuel Industry segmented?
The water as a fuel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments.
- Type
- Hydrogen fuel
- Oxyhydrogen fuel
- Technology
- Natural gas reforming
- Electrolysis
- End-user
- Geography
- North America
- APAC
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Europe
- Germany
- UK
- France
- Italy
- Spain
- The Netherlands
- South America
- Middle East and Africa
- Rest of World (ROW)
By Type Insights
The hydrogen fuel segment is estimated to witness significant growth during the forecast period.
The hydrogen fuel segment constitutes the predominant application within the water as a fuel market, representing the production and use of high-purity hydrogen as a clean energy carrier. Accounting for over 54% of the market in the previous year, this segment is defined by the output from electrolysis, particularly green hydrogen production powered by renewable energy. Its growth is driven by global decarbonization strategies that position it as a cornerstone for reducing emissions in transportation, power generation, and industrial feedstock applications.
The applications for hydrogen fuel are extensive, powering fuel cell electric vehicles (FCEVS) and offering a solution for long-range, heavy-duty transport. In the power sector, hydrogen enables long-duration energy storage, balancing intermittent renewables. Its role as an industrial feedstock is crucial for decarbonizing processes like steelmaking and ammonia production. The viability of these applications depends on continued advancements in electrolyzer technology and the development of robust hydrogen infrastructure to support its storage and distribution as a versatile zero-emission fuel.
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The Hydrogen fuel segment was valued at USD 2.2 billion in 2019 and showed a gradual increase during the forecast period.
Regional Analysis
North America is estimated to contribute 39.3% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North America market for water as a fuel is characterized by strong federal policy support and significant resource potential. The region is projected to contribute over 39% of the global market's incremental growth, driven largely by initiatives in the United States. Policies like the Inflation Reduction Act have catalyzed a surge of investment in clean hydrogen projects. The region's strategy centers on a hydrogen hub model, which focuses on creating integrated ecosystems of green hydrogen production and consumption, thereby de-risking large-scale investments.
In North America, established energy infrastructure and a sophisticated industrial base provide both the means and the demand for hydrogen adoption. Key target end-use markets include heavy-duty transportation, industrial decarbonization, and ammonia production. Canada is also a major player, leveraging its abundant hydroelectric resources to become a leading producer and exporter of clean hydrogen. This combination of policy support, resource availability, and industrial demand positions the region as a leader in the development of a continental hydrogen value chain and related low-carbon hydrogen projects.
Market Dynamics
Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The global market is witnessing a critical debate over blue versus green hydrogen production methods, with green hydrogen gaining traction due to significant advancements in PEM electrolysis technology. Achieving the economic viability of green hydrogen production is paramount, with key cost reduction drivers for electrolysis and the necessity of scaling up electrolyzer manufacturing capacity being central to this effort. Supportive policy and subsidies for clean hydrogen are accelerating market growth by facilitating the process of integrating electrolysis with renewable energy grids. This positions hydrogen as a long-duration energy storage solution and highlights the crucial role of hydrogen hubs in market development. However, realizing this potential demands addressing the extensive infrastructure requirements for a hydrogen economy to ensure widespread adoption and scalability.The application landscape for green hydrogen is expanding, underscoring its pivotal role of green hydrogen in industrial decarbonization, particularly in hard-to-abate sectors like decarbonizing steel production with green hydrogen. In mobility, the ongoing comparison of hydrogen and battery electric vehicles is shaping strategies for both light and hydrogen use in heavy-duty transportation. Furthermore, its potential extends to creating sustainable aviation fuels from green hydrogen and powering hydrogen fuel cells for maritime applications. Overcoming the significant challenges in hydrogen storage and distribution is a key focus, necessitating robust safety standards for hydrogen infrastructure. Concurrently, the development of international hydrogen trade routes is gaining momentum, with green ammonia as a hydrogen transport vector emerging as a viable solution to connect global supply and demand centers.
What are the key market drivers leading to the rise in the adoption of Water As A Fuel Industry?
- The primary market driver is the intensifying international commitment to decarbonization and the establishment of legally binding net-zero emissions targets.
The global push for decarbonization and net-zero emissions is the primary force shaping the water-as-a-fuel landscape. Policy frameworks, including carbon pricing and emissions standards, are increasing the operational costs of carbon-intensive methods, enhancing the economic appeal of green hydrogen production. National strategies are providing direct financial support and de-risking private investment in electrolysis technology and related hydrogen infrastructure. This top-down policy approach compels industries to re-evaluate energy consumption, positioning water-derived hydrogen as an indispensable energy carrier for deep decarbonization. This strategic alignment is particularly evident in key industrial regions, with the APAC region alone representing over 32% of the market's incremental growth opportunity, highlighting significant investment in decarbonization strategies.The pursuit of energy security and independence from volatile fossil fuel markets is another critical driver. Geopolitical events have underscored the vulnerabilities of energy systems reliant on imported oil and gas, prompting nations to develop domestically produced energy sources. Green hydrogen, derived from abundant resources like water and renewable energy, offers a viable path toward this goal. By building a robust domestic hydrogen value chain, countries can reduce dependence on foreign suppliers and stabilize energy prices. This imperative is not just about fuel replacement; it is also about establishing leadership in clean energy technologies like proton exchange membrane systems and capturing a share of the expanding global market for low-carbon hydrogen solutions and grid balancing services.
What are the market trends shaping the Water As A Fuel Industry?
- A prominent trend shaping the market is the strategic development of large-scale, integrated hydrogen hubs, often referred to as hydrogen valleys.
A key trend is the development of large-scale hydrogen hubs that co-locate green hydrogen production with multiple end-users in a defined area. This approach creates economies of scale, drives down costs, and builds a self-reinforcing ecosystem that minimizes the need for long-distance hydrogen infrastructure. Within these hubs, electrolyzers produce hydrogen for local industrial facilities, power plants, and transportation fleets, including fuel cells for marine vessels. By aggregating demand, these hubs provide revenue certainty for financing large-scale projects and foster innovation across the hydrogen value chain. This model is seen as the most efficient way to kick-start the hydrogen economy, with regions in Europe, which account for nearly 18% of the global opportunity, actively developing these integrated clusters as part of a broader water and wastewater management strategy.There is an increasing strategic focus on hydrogen derivatives like green ammonia and green methanol as primary vectors for long-distance transport and trade. Hydrogen's low volumetric energy density makes it costly to ship over long distances. Converting it into denser energy carriers like ammonia mitigates this challenge. These derivatives can leverage existing global infrastructure and are highly attractive for decarbonizing the global maritime shipping industry and the broader alternative fuels market. Countries with abundant renewable resources can export these derivatives more economically than pure hydrogen. This pragmatic approach shifts the conversation from pure hydrogen trade to a more diversified strategy focused on manageable energy carriers, which can be used directly or cracked back into high-purity hydrogen at their destination.
What challenges does the Water As A Fuel Industry face during its growth?
- The most significant challenge impeding widespread adoption is the high production cost of green hydrogen compared to incumbent fossil fuel-based alternatives.
The high production cost of green hydrogen compared to fossil-fuel alternatives remains a primary challenge. The final cost is largely determined by renewable electricity prices and the capital expenditure for the electrolysis plant. Achieving low, consistent electricity prices for competitive hydrogen production is a hurdle, and the substantial upfront investment for large-scale projects results in a green premium over grey hydrogen. This cost disparity makes it difficult for water-derived hydrogen to compete without significant and sustained government subsidies. This economic barrier is a global issue, though emerging regions like South America, representing over 6% of the growth potential, are leveraging low-cost renewables to address it, aiming to make their green hydrogen production economically viable.A formidable challenge is the profound lack of dedicated infrastructure for hydrogen storage, transmission, and distribution. Hydrogen's unique physical properties, including its low volumetric energy density and potential for hydrogen embrittlement in steel, complicate the use of existing natural gas pipelines. Building new, specialized hydrogen pipeline networks requires massive capital investment and coordinated planning. The market faces a classic dilemma: investment in infrastructure is risky without guaranteed supply and demand, while producers and consumers hesitate without robust infrastructure. The scarcity of hydrogen refueling stations also remains a critical bottleneck for adopting fuel cell electric vehicles, hindering the development of a comprehensive hydrogen economy.
Exclusive Customer Landscape
The water as a fuel market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the water as a fuel market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Key Companies & Market Insights
Companies are implementing various strategies, such as strategic alliances, water as a fuel market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Air Liquide SA - Companies in this market provide comprehensive water as a fuel solutions, primarily centered on the production of hydrogen through advanced electrolysis and fuel cell technologies. Key offerings include the design, manufacturing, and deployment of electrolyzer systems for generating green hydrogen from water and renewable energy. This is complemented by the provision of fuel cell systems that convert hydrogen into clean electricity for a variety of applications, including transportation, stationary power generation, and industrial operations. The offerings address the entire value chain, from hydrogen generation and storage to its final use as a zero-emission energy carrier, enabling industries to meet decarbonization goals.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- Air Liquide SA
- Ballard Power Systems Inc.
- Bloom Energy Corp.
- Cummins Inc.
- Enel Spa
- ENGIE SA
- Exxon Mobil Corp.
- FuelCell Energy Inc.
- Iberdrola SA
- ITM Power PLC
- Linde Plc
- McPhy Energy SA
- Nel ASA
- Orsted AS
- Panasonic Holdings Corp.
- Plug Power Inc.
- Siemens Energy AG
- Sinopec Shanghai Petrochemical Co. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Recent Development and News in Water As A Fuel Market
In February 2024, Siemens Energy started operations at its new gigawatt-scale electrolyzer production facility in Berlin, aiming to manufacture up to three gigawatts of PEM electrolyzers annually to support the global green hydrogen ramp-up.In January 2024, Cummins Inc. announced the expansion of its PEM electrolyzer manufacturing capacity to 2 GW at its facility in Fridley, Minnesota, making it one of the largest electrolyzer production sites in the world.In January 2024, H2 Green Steel secured EUR 4.2 billion in debt financing for its large-scale green steel plant in Boden, Sweden. The project includes an approximately 800-megawatt electrolyzer complex to produce green hydrogen for the direct reduced iron process.
Research Analyst Overview
The transition toward comprehensive decarbonization strategies is reshaping the energy landscape, favoring green hydrogen production over conventional methods like steam methane reforming and autothermal reforming. This shift advances the role of hydrogen as a versatile energy carrier, supported by advancements in electrolysis technology. Processes involving proton exchange membrane, solid oxide electrolysis cells, and alkaline electrolysis are becoming central to the low-carbon hydrogen paradigm. The effectiveness of these technologies depends on improved catalyst materials and scaling up electrolyzer manufacturing. Furthermore, the imperative for renewable energy integration is creating new opportunities for power-to-x technologies, establishing a dynamic hydrogen value chain from its inception and demonstrating a projected 30% increase in renewable-powered electrolysis capacity.The expanding hydrogen infrastructure is critical for realizing its potential as a zero-emission fuel across multiple sectors. Development focuses on hydrogen storage solutions, including cryogenic liquid hydrogen and compressed hydrogen gas, alongside the build-out of hydrogen pipeline networks and hydrogen refueling stations. These efforts support the adoption of fuel cell electric vehicles and hydrogen combustion engines. Concurrently, hydrogen is being integrated as an industrial feedstock for green ammonia synthesis, green methanol production, and direct reduced iron processes. The formation of hydrogen hubs facilitates this integration, enabling sector coupling, providing grid balancing services, and addressing needs for long-duration energy storage. This extends to creating sustainable aviation fuels and a viable maritime shipping fuel.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Water As A Fuel Market insights. See full methodology.
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Market Scope
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Report Coverage
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Details
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Page number
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297
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Base year
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2024
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Historic period
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2019 - 2023 |
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Forecast period
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2025-2029
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Growth momentum & CAGR
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Accelerating at a CAGR of 12.5%
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Market growth 2024-2029
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USD 4.7 billion
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Market structure
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Fragmented
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YoY growth 2024-2029(%)
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12.2%
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Key countries
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US, Canada, Mexico, China, Japan, India, South Korea, Australia, Indonesia, Germany, UK, France, Italy, Spain, The Netherlands, Brazil, Argentina, Colombia, South Africa, UAE, Saudi Arabia, Israel, Turkey
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Competitive landscape
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Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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What are the Key Data Covered in this Water As A Fuel Market Research and Growth Report?
- CAGR of the Water As A Fuel industry during the forecast period
- Detailed information on factors that will drive the growth and forecasting between 2024 and 2029
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across North America, APAC, Europe, South America, Middle East and Africa
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the water as a fuel market growth of industry companies
We can help! Our analysts can customize this water as a fuel market research report to meet your requirements.
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1 Executive Summary
- 1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Technology
- Executive Summary - Chart on Market Segmentation by End-user
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
- 2 Technavio Analysis
- 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 2.2 Criticality of inputs and Factors of differentiation
- Chart on Overview on criticality of inputs and factors of differentiation
- 2.3 Factors of disruption
- Chart on Overview on factors of disruption
- 2.4 Impact of drivers and challenges
- Chart on Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
- 3 Market Landscape
- 3.1 Market ecosystem
- Chart on Parent Market
- Data Table on - Parent Market
- 3.2 Market characteristics
- Chart on Market characteristics analysis
- 3.3 Value chain analysis
- Chart on Value chain analysis
4 Market Sizing
- 4 Market Sizing
- 4.1 Market definition
- Data Table on Offerings of companies included in the market definition
- 4.2 Market segment analysis
- 4.3 Market size 2024
- 4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ billion)
- Data Table on Global - Market size and forecast 2024-2029 ($ billion)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
- 5 Historic Market Size
- 5.1 Global Water As A Fuel Market 2019 - 2023
- Historic Market Size - Data Table on Global Water As A Fuel Market 2019 - 2023 ($ billion)
- 5.2 Type segment analysis 2019 - 2023
- Historic Market Size - Type Segment 2019 - 2023 ($ billion)
- 5.3 Technology segment analysis 2019 - 2023
- Historic Market Size - Technology Segment 2019 - 2023 ($ billion)
- 5.4 End-user segment analysis 2019 - 2023
- Historic Market Size - End-user Segment 2019 - 2023 ($ billion)
- 5.5 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ billion)
- 5.6 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ billion)
6 Qualitative Analysis
- 6 Qualitative Analysis
- 6.1 Impact of AI in global water as a fuel market
7 Five Forces Analysis
- 7 Five Forces Analysis
- 7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
- 7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
- 7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
- 7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
- 7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
- 7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
- 7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029
8 Market Segmentation by Type
- 8 Market Segmentation by Type
- 8.1 Market segments
- Chart on Type - Market share 2024-2029 (%)
- Data Table on Type - Market share 2024-2029 (%)
- 8.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
- 8.3 Hydrogen fuel - Market size and forecast 2024-2029
- Chart on Hydrogen fuel - Market size and forecast 2024-2029 ($ billion)
- Data Table on Hydrogen fuel - Market size and forecast 2024-2029 ($ billion)
- Chart on Hydrogen fuel - Year-over-year growth 2024-2029 (%)
- Data Table on Hydrogen fuel - Year-over-year growth 2024-2029 (%)
- 8.4 Oxyhydrogen fuel - Market size and forecast 2024-2029
- Chart on Oxyhydrogen fuel - Market size and forecast 2024-2029 ($ billion)
- Data Table on Oxyhydrogen fuel - Market size and forecast 2024-2029 ($ billion)
- Chart on Oxyhydrogen fuel - Year-over-year growth 2024-2029 (%)
- Data Table on Oxyhydrogen fuel - Year-over-year growth 2024-2029 (%)
- 8.5 Market opportunity by Type
- Market opportunity by Type ($ billion)
- Data Table on Market opportunity by Type ($ billion)
9 Market Segmentation by Technology
- 9 Market Segmentation by Technology
- 9.1 Market segments
- Chart on Technology - Market share 2024-2029 (%)
- Data Table on Technology - Market share 2024-2029 (%)
- 9.2 Comparison by Technology
- Chart on Comparison by Technology
- Data Table on Comparison by Technology
- 9.3 Natural gas reforming - Market size and forecast 2024-2029
- Chart on Natural gas reforming - Market size and forecast 2024-2029 ($ billion)
- Data Table on Natural gas reforming - Market size and forecast 2024-2029 ($ billion)
- Chart on Natural gas reforming - Year-over-year growth 2024-2029 (%)
- Data Table on Natural gas reforming - Year-over-year growth 2024-2029 (%)
- 9.4 Electrolysis - Market size and forecast 2024-2029
- Chart on Electrolysis - Market size and forecast 2024-2029 ($ billion)
- Data Table on Electrolysis - Market size and forecast 2024-2029 ($ billion)
- Chart on Electrolysis - Year-over-year growth 2024-2029 (%)
- Data Table on Electrolysis - Year-over-year growth 2024-2029 (%)
- 9.5 Market opportunity by Technology
- Market opportunity by Technology ($ billion)
- Data Table on Market opportunity by Technology ($ billion)
10 Market Segmentation by End-user
- 10 Market Segmentation by End-user
- 10.1 Market segments
- Chart on End-user - Market share 2024-2029 (%)
- Data Table on End-user - Market share 2024-2029 (%)
- 10.2 Comparison by End-user
- Chart on Comparison by End-user
- Data Table on Comparison by End-user
- 10.3 Transportation - Market size and forecast 2024-2029
- Chart on Transportation - Market size and forecast 2024-2029 ($ billion)
- Data Table on Transportation - Market size and forecast 2024-2029 ($ billion)
- Chart on Transportation - Year-over-year growth 2024-2029 (%)
- Data Table on Transportation - Year-over-year growth 2024-2029 (%)
- 10.4 Power generation - Market size and forecast 2024-2029
- Chart on Power generation - Market size and forecast 2024-2029 ($ billion)
- Data Table on Power generation - Market size and forecast 2024-2029 ($ billion)
- Chart on Power generation - Year-over-year growth 2024-2029 (%)
- Data Table on Power generation - Year-over-year growth 2024-2029 (%)
- 10.5 Material handling equipment - Market size and forecast 2024-2029
- Chart on Material handling equipment - Market size and forecast 2024-2029 ($ billion)
- Data Table on Material handling equipment - Market size and forecast 2024-2029 ($ billion)
- Chart on Material handling equipment - Year-over-year growth 2024-2029 (%)
- Data Table on Material handling equipment - Year-over-year growth 2024-2029 (%)
- 10.6 Others - Market size and forecast 2024-2029
- Chart on Others - Market size and forecast 2024-2029 ($ billion)
- Data Table on Others - Market size and forecast 2024-2029 ($ billion)
- Chart on Others - Year-over-year growth 2024-2029 (%)
- Data Table on Others - Year-over-year growth 2024-2029 (%)
- 10.7 Market opportunity by End-user
- Market opportunity by End-user ($ billion)
- Data Table on Market opportunity by End-user ($ billion)
11 Customer Landscape
- 11 Customer Landscape
- 11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
12 Geographic Landscape
- 12 Geographic Landscape
- 12.1 Geographic segmentation
- Chart on Market share by geography 2024-2029 (%)
- Data Table on Market share by geography 2024-2029 (%)
- 12.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 12.3 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ billion)
- Data Table on North America - Market size and forecast 2024-2029 ($ billion)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - North America
- Data Table on Regional Comparison - North America
- 12.3.1 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ billion)
- Data Table on US - Market size and forecast 2024-2029 ($ billion)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)
- 12.3.2 Canada - Market size and forecast 2024-2029
- Chart on Canada - Market size and forecast 2024-2029 ($ billion)
- Data Table on Canada - Market size and forecast 2024-2029 ($ billion)
- Chart on Canada - Year-over-year growth 2024-2029 (%)
- Data Table on Canada - Year-over-year growth 2024-2029 (%)
- 12.3.3 Mexico - Market size and forecast 2024-2029
- Chart on Mexico - Market size and forecast 2024-2029 ($ billion)
- Data Table on Mexico - Market size and forecast 2024-2029 ($ billion)
- Chart on Mexico - Year-over-year growth 2024-2029 (%)
- Data Table on Mexico - Year-over-year growth 2024-2029 (%)
- 12.4 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ billion)
- Data Table on APAC - Market size and forecast 2024-2029 ($ billion)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - APAC
- Data Table on Regional Comparison - APAC
- 12.4.1 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ billion)
- Data Table on China - Market size and forecast 2024-2029 ($ billion)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)
- 12.4.2 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ billion)
- Data Table on Japan - Market size and forecast 2024-2029 ($ billion)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)
- 12.4.3 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ billion)
- Data Table on India - Market size and forecast 2024-2029 ($ billion)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)
- 12.4.4 South Korea - Market size and forecast 2024-2029
- Chart on South Korea - Market size and forecast 2024-2029 ($ billion)
- Data Table on South Korea - Market size and forecast 2024-2029 ($ billion)
- Chart on South Korea - Year-over-year growth 2024-2029 (%)
- Data Table on South Korea - Year-over-year growth 2024-2029 (%)
- 12.4.5 Australia - Market size and forecast 2024-2029
- Chart on Australia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Australia - Market size and forecast 2024-2029 ($ billion)
- Chart on Australia - Year-over-year growth 2024-2029 (%)
- Data Table on Australia - Year-over-year growth 2024-2029 (%)
- 12.4.6 Indonesia - Market size and forecast 2024-2029
- Chart on Indonesia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Indonesia - Market size and forecast 2024-2029 ($ billion)
- Chart on Indonesia - Year-over-year growth 2024-2029 (%)
- Data Table on Indonesia - Year-over-year growth 2024-2029 (%)
- 12.5 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ billion)
- Data Table on Europe - Market size and forecast 2024-2029 ($ billion)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - Europe
- Data Table on Regional Comparison - Europe
- 12.5.1 Germany - Market size and forecast 2024-2029
- Chart on Germany - Market size and forecast 2024-2029 ($ billion)
- Data Table on Germany - Market size and forecast 2024-2029 ($ billion)
- Chart on Germany - Year-over-year growth 2024-2029 (%)
- Data Table on Germany - Year-over-year growth 2024-2029 (%)
- 12.5.2 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ billion)
- Data Table on UK - Market size and forecast 2024-2029 ($ billion)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)
- 12.5.3 France - Market size and forecast 2024-2029
- Chart on France - Market size and forecast 2024-2029 ($ billion)
- Data Table on France - Market size and forecast 2024-2029 ($ billion)
- Chart on France - Year-over-year growth 2024-2029 (%)
- Data Table on France - Year-over-year growth 2024-2029 (%)
- 12.5.4 Italy - Market size and forecast 2024-2029
- Chart on Italy - Market size and forecast 2024-2029 ($ billion)
- Data Table on Italy - Market size and forecast 2024-2029 ($ billion)
- Chart on Italy - Year-over-year growth 2024-2029 (%)
- Data Table on Italy - Year-over-year growth 2024-2029 (%)
- 12.5.5 Spain - Market size and forecast 2024-2029
- Chart on Spain - Market size and forecast 2024-2029 ($ billion)
- Data Table on Spain - Market size and forecast 2024-2029 ($ billion)
- Chart on Spain - Year-over-year growth 2024-2029 (%)
- Data Table on Spain - Year-over-year growth 2024-2029 (%)
- 12.5.6 The Netherlands - Market size and forecast 2024-2029
- Chart on The Netherlands - Market size and forecast 2024-2029 ($ billion)
- Data Table on The Netherlands - Market size and forecast 2024-2029 ($ billion)
- Chart on The Netherlands - Year-over-year growth 2024-2029 (%)
- Data Table on The Netherlands - Year-over-year growth 2024-2029 (%)
- 12.6 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ billion)
- Data Table on South America - Market size and forecast 2024-2029 ($ billion)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - South America
- Data Table on Regional Comparison - South America
- 12.6.1 Brazil - Market size and forecast 2024-2029
- Chart on Brazil - Market size and forecast 2024-2029 ($ billion)
- Data Table on Brazil - Market size and forecast 2024-2029 ($ billion)
- Chart on Brazil - Year-over-year growth 2024-2029 (%)
- Data Table on Brazil - Year-over-year growth 2024-2029 (%)
- 12.6.2 Argentina - Market size and forecast 2024-2029
- Chart on Argentina - Market size and forecast 2024-2029 ($ billion)
- Data Table on Argentina - Market size and forecast 2024-2029 ($ billion)
- Chart on Argentina - Year-over-year growth 2024-2029 (%)
- Data Table on Argentina - Year-over-year growth 2024-2029 (%)
- 12.6.3 Colombia - Market size and forecast 2024-2029
- Chart on Colombia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Colombia - Market size and forecast 2024-2029 ($ billion)
- Chart on Colombia - Year-over-year growth 2024-2029 (%)
- Data Table on Colombia - Year-over-year growth 2024-2029 (%)
- 12.7 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - Middle East and Africa
- Data Table on Regional Comparison - Middle East and Africa
- 12.7.1 South Africa - Market size and forecast 2024-2029
- Chart on South Africa - Market size and forecast 2024-2029 ($ billion)
- Data Table on South Africa - Market size and forecast 2024-2029 ($ billion)
- Chart on South Africa - Year-over-year growth 2024-2029 (%)
- Data Table on South Africa - Year-over-year growth 2024-2029 (%)
- 12.7.2 UAE - Market size and forecast 2024-2029
- Chart on UAE - Market size and forecast 2024-2029 ($ billion)
- Data Table on UAE - Market size and forecast 2024-2029 ($ billion)
- Chart on UAE - Year-over-year growth 2024-2029 (%)
- Data Table on UAE - Year-over-year growth 2024-2029 (%)
- 12.7.3 Saudi Arabia - Market size and forecast 2024-2029
- Chart on Saudi Arabia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Saudi Arabia - Market size and forecast 2024-2029 ($ billion)
- Chart on Saudi Arabia - Year-over-year growth 2024-2029 (%)
- Data Table on Saudi Arabia - Year-over-year growth 2024-2029 (%)
- 12.7.4 Israel - Market size and forecast 2024-2029
- Chart on Israel - Market size and forecast 2024-2029 ($ billion)
- Data Table on Israel - Market size and forecast 2024-2029 ($ billion)
- Chart on Israel - Year-over-year growth 2024-2029 (%)
- Data Table on Israel - Year-over-year growth 2024-2029 (%)
- 12.7.5 Turkey - Market size and forecast 2024-2029
- Chart on Turkey - Market size and forecast 2024-2029 ($ billion)
- Data Table on Turkey - Market size and forecast 2024-2029 ($ billion)
- Chart on Turkey - Year-over-year growth 2024-2029 (%)
- Data Table on Turkey - Year-over-year growth 2024-2029 (%)
- 12.8 Market opportunity by geography
- Market opportunity by geography ($ billion)
- Data Tables on Market opportunity by geography ($ billion)
13 Drivers, Challenges, and Opportunity
- 13 Drivers, Challenges, and Opportunity
- 13.1 Market drivers
- Global decarbonization policies and net-zero commitments
- Strategic imperative for energy security and independence
- Technological advancements and cost reduction in electrolysis
- 13.2 Market challenges
- High production cost and economic viability
- Lack of developed infrastructure for storage and distribution
- Insufficient scale of renewable energy generation
- 13.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
- 13.4 Market opportunities
- Development of large-scale hydrogen hubs and valleys
- Increasing focus on hydrogen derivatives for transport and trade
- Emergence of cross-border hydrogen trade agreements
14 Competitive Landscape
- 14 Competitive Landscape
- 14.1 Overview
- 14.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 14.3 Landscape disruption
- Overview on factors of disruption
- 14.4 Industry risks
- Impact of key risks on business
15 Competitive Analysis
- 15 Competitive Analysis
- 15.1 Companies profiled
- 15.2 Company ranking index
- 15.3 Market positioning of companies
- Matrix on companies position and classification
- 15.4 Air Liquide SA
- Air Liquide SA - Overview
- Air Liquide SA - Product / Service
- Air Liquide SA - Key news
- Air Liquide SA - Key offerings
- SWOT
- 15.5 Ballard Power Systems Inc.
- Ballard Power Systems Inc. - Overview
- Ballard Power Systems Inc. - Product / Service
- Ballard Power Systems Inc. - Key offerings
- SWOT
- 15.6 Bloom Energy Corp.
- Bloom Energy Corp. - Overview
- Bloom Energy Corp. - Product / Service
- Bloom Energy Corp. - Key offerings
- SWOT
- 15.7 Cummins Inc.
- Cummins Inc. - Overview
- Cummins Inc. - Business segments
- Cummins Inc. - Key news
- Cummins Inc. - Key offerings
- Cummins Inc. - Segment focus
- SWOT
- 15.8 Enel Spa
- Enel Spa - Overview
- Enel Spa - Product / Service
- Enel Spa - Key offerings
- SWOT
- 15.9 Exxon Mobil Corp.
- Exxon Mobil Corp. - Overview
- Exxon Mobil Corp. - Business segments
- Exxon Mobil Corp. - Key news
- Exxon Mobil Corp. - Key offerings
- Exxon Mobil Corp. - Segment focus
- SWOT
- 15.10 FuelCell Energy Inc.
- FuelCell Energy Inc. - Overview
- FuelCell Energy Inc. - Product / Service
- FuelCell Energy Inc. - Key offerings
- SWOT
- 15.11 Iberdrola SA
- Iberdrola SA - Overview
- Iberdrola SA - Business segments
- Iberdrola SA - Key offerings
- Iberdrola SA - Segment focus
- SWOT
- 15.12 Linde Plc
- Linde Plc - Overview
- Linde Plc - Business segments
- Linde Plc - Key news
- Linde Plc - Key offerings
- Linde Plc - Segment focus
- SWOT
- 15.13 Nel ASA
- Nel ASA - Overview
- Nel ASA - Business segments
- Nel ASA - Key offerings
- Nel ASA - Segment focus
- SWOT
- 15.14 Orsted AS
- Orsted AS - Overview
- Orsted AS - Product / Service
- Orsted AS - Key offerings
- SWOT
- 15.15 Panasonic Holdings Corp.
- Panasonic Holdings Corp. - Overview
- Panasonic Holdings Corp. - Business segments
- Panasonic Holdings Corp. - Key news
- Panasonic Holdings Corp. - Key offerings
- Panasonic Holdings Corp. - Segment focus
- SWOT
- 15.16 Plug Power Inc.
- Plug Power Inc. - Overview
- Plug Power Inc. - Product / Service
- Plug Power Inc. - Key offerings
- SWOT
- 15.17 Siemens Energy AG
- Siemens Energy AG - Overview
- Siemens Energy AG - Business segments
- Siemens Energy AG - Key news
- Siemens Energy AG - Key offerings
- Siemens Energy AG - Segment focus
- SWOT
- 15.18 Sinopec Shanghai Petrochemical Co. Ltd.
- Sinopec Shanghai Petrochemical Co. Ltd. - Overview
- Sinopec Shanghai Petrochemical Co. Ltd. - Business segments
- Sinopec Shanghai Petrochemical Co. Ltd. - Key news
- Sinopec Shanghai Petrochemical Co. Ltd. - Key offerings
- Sinopec Shanghai Petrochemical Co. Ltd. - Segment focus
- SWOT
16 Appendix
- 16 Appendix
- 16.1 Scope of the report
- Market definition
- Objectives
- Notes and caveats
- 16.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 16.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 16.4 Research methodology
- 16.5 Data procurement
- 16.6 Data validation
- 16.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 16.8 Data synthesis
- 16.9 360 degree market analysis
- 360 degree market analysis
- 16.10 List of abbreviations
INFORMATION SOURCES
DATA ANALYSIS
REPORT WRITING
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