The Global Bio Hydrogen market experienced robust growth owing to the factor such as rapid urbanization and industrialization, burgeoning fleet size of electric vehicle in developed and developing countries and rising government inclination towards the renewable and clean source of energy. The surging government initiative to curb greenhouse gases due to increasing incidents related to global warming, propelling the use of clean energy automobiles and soaring demand for hydrogen fuel are the factors anticipated to fuelling the growth of the market in the forthcoming period.
According to MarkNtel Advisors’ research report “Global Bio Hydrogen Market Analysis, 2021”, the Global Bio Hydrogen market is anticipated to grow at a CAGR of 6.0% during 2021-26. Based on End-User, Automotive acquired a significant market in 2020 due to the burgeoning use of clean energy in the automobile in order to reduce carbon emission and snowballing government investment in urban transportation by introducing electric buses.
“Global Bio Hydrogen Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Bio Hydrogen providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America and Europe Acquired the Majority Market Share
North America and Europe acquired the majority market share in the Global Bio Hydrogen market in 2020. The growth of the market is attributed to escalating government funding for research and developments, a significant rise in the number of industrial plants and facilities and propelling the pharmaceutical market. Hence, this is expected to bolster the demand for Bio Hydrogen in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Bio Hydrogen Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Bio Hydrogen 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 etc.
Key questions answered in the study: