Merchant Hydrogen Market Share

North America Market Statistics

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. North America is predicted to account for largest revenue share by 2036, on the back of growing oil & gas industry in countries, such as, Canada, and the U.S. 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.

Europe Market Analysis

The merchant hydrogen 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.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of merchant hydrogen is assessed at USD 96.85 billion.

Merchant Hydrogen Market size was over USD 91.64 billion in 2023 and is projected to exceed USD 223.54 billion by 2036, growing at over 7.1% CAGR during the forecast period i.e., between 2024-2036. Growing demand for clean fuel in vehicles and increasing use of hydrogen for petroleum refining will impel the market growth.

North America is predicted to account for largest revenue share by 2036, on the back of growing oil & gas industry in countries, such as, Canada, and the U.S.

The major players in the market are Airgas, Inc., Air Products Inc., Praxair Technology, Inc., Linde plc, Air Liquide, FuelCell Energy, Inc., Bloom Energy Corporation, and others.

Merchant Hydrogen Market Share