Global Bio Hydrogen

Global Bio Hydrogen Market Research Report: Forecast (2021-2026)

By Production (Steam reforming, Fermentation, Microbial Fuel Cell), By End-User (Food & Beverage, Pharmaceutical, Industrial, Automotive, Other), By Region (North America, South America, Europe, Asia- Read more

  • Energy
  • Dec 2021
  • 176
  • EN33010

Market Definition

Bio Hydrogen is a biofuel that uses microorganisms to produce hydrogen in several applications across different verticals like industrial, automotive, pharmaceutical, food & beverages, among various others. It is produced majorly through methods like Steam Reforming, Fermentation, Microbial Fuel Cell, etc., and is similar to bioethanol & biogas. Since biofuel production uses renewable resources, it is a clean energy source and does not generate any harmful pollutants.

Market Insights

The Global Bio Hydrogen Market is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2021-26. The growth of the market is driven principally by the overconsumption of natural resources propelling the need to seek renewable alternatives for energy, coupled with the swift expansion of refining facilities, especially across developing economies, creating growth opportunities for the leading market players globally. 

  • In November 2020, the market leader The Linde Group announced to produce Bio Hydrogen at their Ontario, California Plant, with the intent to cater to the mobility market in the region.
Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR 6%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, UK, France
Asia-Pacific: China, India, Japan, South Korea, Australia
South America: Brazil
Middle East & Africa: GCC, South Africa
Key Companies Profiled 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.
Unit Denominations USD Million/Billion

 

Besides, the alarming concerns associated with the rising carbon emissions are also encouraging the adoption of eco-friendly alternatives for energy like Bio Hydrogen. In addition, the use of renewable resources is likely to reduce the production cost of clean energy and positively influence the demand for Bio Hydrogen. 

Moreover, the extensive application of Bio Hydrogen shall enable multiple companies to profit from a mounting hydrogen fuel economy. Among different end-users, companies associated with oil & gas, automotive, etc., are likely to be the major adopters of hydrogen & contribute to the market growth, thereby augmenting the concept of hydrogen as an energy carrier.

Key Trends in the Market

Encouraging Government Initiatives & Policies to Promote the Market Growth

The governments of different countries worldwide are showing keen interest in obtaining carbon neutrality by actively investing in several research & development activities toward developing eco-friendly alternatives to combat the mounting carbon emission levels. Several administrations are seeking new strategies that would include using clean energy in different verticals, which, as a result, would fuel the Bio Hydrogen Market in the future. For instance:

  • In March 2021, the governments of countries like the US & India updated their strategic energy partnership and included low carbon technologies like hydrogen & biofuels.

Impact of Covid-19 on the Global Bio Hydrogen Market

The Covid-19 pandemic in 2020 had a decelerating effect on the Global Bio Hydrogen Market. Stringent movement restrictions & frequent lockdowns imposed by the governments of different countries hampered the supply chain, which resulted in the unavailability of raw materials & shut down of the manufacturing units.

Transportation, refinery, electronics, etc., were among the severely hit sectors. The entire automotive industry was disrupted and suffered massive financial losses due to reduced demand for vehicles, scarcity of raw materials, and other significant challenges. As a result, these effects directly impacted the demand for Bio Hydrogen and hampered the global market growth amidst the pandemic.

However, the market seems to be reviving since 2021, owing to the gradual betterment in the pandemic situation. The governments of different countries have uplifted restrictions and have allowed the recommencement of business operations.

Moreover, countries are also taking initiatives like stimulus packages & incentives for manufacturing, automotive sectors, and other infrastructural development projects to fuel the demand for Bio Hydrogen and help the market regain its usual pace in the coming years.

Global Bio Hydrogen Market Research Report: Forecast (2021-2026)

Market Segmentation

Based on the Production, the Global Bio Hydrogen Market segments into:

  • Steam Reforming
  • Fermentation
  • Microbial Fuel Cell

Of them all, Steam Reforming is anticipated to hold a significant market share during the forecast period, owing prominently to its extensive application in the production of Bio Hydrogen due to the better output, enhanced fuel flexibility, and lower operational costs. Besides, the increasing demand for automotive fuel cells to power commercial transportation fleets is another crucial aspect propelling Bio Hydrogen production through Steam Reforming, i.e., a cost-effective production method generating the highest hydrogen yield. Nevertheless, the surging demand for Bio Hydrogen across different verticals for diverse applications remains a prominent aspect behind the burgeoning use of steam reforming production methods.

On the other hand, the production of Bio Hydrogen through fermentation is another environment-friendly & effective way of generating hydrogen. The fermentation process bifurcates into photo-fermentation & dark fermentation and is a fermentative conversion of organic substrates into hydrogen with substantial potential as a fuel alternative.

Based on the End User:

  • Food & Beverage
  • Pharmaceutical
  • Industrial
  • Automotive

Of them all, the Automotive sector dominated the market with the largest share in recent years. It owes principally to the growing focus of the automakers on achieving carbon neutrality to meet the environmental norms & regulations specified by the governments of different countries. These automakers are actively seeking fuel alternatives to comply with the carbon emission reduction & working on promoting hydrogen fuel cell vehicles. For instance:

  • In May 2020, automotive giants like Volvo & Daimler revealed their plans to produce Hydrogen-based heavy-duty vehicles in the decade and promote zero-emission.   

Besides, most automakers also believe that if the costs of Bio Hydrogen-powered vehicles are parallelly matched, it shall address most of the environmental concerns wherein faster refueling would project as a breakthrough for electric mobility.

Moreover, several prominent automotive companies like Hyundai, Toyota, & Honda, among others, are producing Fuel Cell Electric Vehicles (FCEVs) and see them as an emerging trend in the coming future, which would further accelerate the deployment of Bio Hydrogen. Furthermore, Hydrogen fueled trains are anticipated to use the same storage tanks & stacks used in trucks & buses and would be consolidated within the automotive sector.

Regional Landscape

Geographically, the Global Bio Hydrogen Market expands across:

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Middle East & Africa

Of them all, Asia-Pacific is anticipated to dominate the market during the forecast period. The mounting focus of the Indian & Chinese governments on the refining sector and also toward developing new industrial units like automotive, chemical, power, etc., coupled with massive investments in fuel cell developments, are driving the regional market. Besides, the high population density and the extensive presence of numerous manufacturing facilities across the region are also driving the Asia-Pacific Bio Hydrogen Market.

On the other hand, Europe & North America acquired a major share of the Global Bio Hydrogen Market in 2020. It was principally due to the massive investments by several European countries in enhancing the production capabilities of Bio Hydrogen, coupled with abiding by the strict carbon-emission reduction targets. Besides, the surging energy requirements, a considerable adoption rate of hydrogen-based vehicles, and various activities associated with hydrogen infrastructure developments across Europe are other crucial aspects driving the regional market. For instance:

  • In September 2020, the French government presented a National Hydrogen Strategy that includes an investment of around USD 8.15 billion and a hydrogen production capacity of 6.5 GW by 2030.

Nonetheless, the market across North America witnessed a growing focus of several organizations making a rapid shift toward producing cleaner fuel. Moreover, the region has also observed numerous research & development activities dedicated to developing Bio Hydrogen & widening its application across different verticals.

Market Dynamics:

Key Drivers

  • Increasing Deployment of Fuel Cell Electric Vehicles (FCEVs)

The mounting demand for Fuel Cell Electric Vehicles (FCEVs), including buses, trucks, passenger cars, & heavy vehicles, among others, is projected to positively influence the Global Bio Hydrogen Market in the coming years. These vehicles use hydrogen as a primary fuel, which thus, eliminates carbon emissions. As a result, several countries are taking various initiatives & setting a target to increase the production of FCEVs and contribute to curbing carbon emissions & driving the global market.

  • Growing Focus on Using Clean Energy Sources

The swift industrialization & urbanization across the world is compelling most countries toward adopting different power generation modes. However, with the alarming concerns associated with using sustainable energy to curb carbon emissions, several nations are focused on reducing their dependency on fossil fuels and using eco-friendly alternatives like Bio Hydrogen. Hence, with the increasing inclination toward using Bio Hydrogen, the global market should observe remunerative growth opportunities over the forecast years.

Possible Restraints

  • High Costs Involved with the Proper Production & Storage of Bio Hydrogen

The cost associated with the production, storage, and distribution of Bio Hydrogen is significantly high, which adds to the capital expenditure of its providers. However, producing Bio Hydrogen is not the only challenge. Its storage & transportation are other prominent issues that hamper their demand because hydrogen requires extreme safety & proper transportation infrastructure, which adds to its overall production costs. Presently, the storage costs associated with Bio Hydrogen are relatively much higher than fossil fuels.

Moreover. since the production & storage of hydrogen is a complex procedure, all the hydrogen production takes place at the location of its demand because it is an easy task to establish its manufacturing plants where it is required. Hence, there is a lack of proper transportation infrastructure for hydrogen, and it is a significant growth restraint for the overall market in the years to come.

Growth Opportunities

  • Several nations worldwide should escalate their green hydrogen strategies by making significant investments, which would provide lucrative growth opportunities for the Global Bio Hydrogen Market over the forecast years. Besides, robust partnerships & collaborations toward advancing & extending Bio Hydrogen technology are also expected to pave a profitable growth path for the global market during 2021-26.
  • Development of customizable small & modular fuel cell power systems by fuel cell companies to suffice the requirements of critical infrastructures & rural communities shall also contribute to the overall market growth in the coming years.
  • Addressing concerns over the production cost, efficiency, & reliability shall help CHP fuel cell manufacturers to outperform lithium-ion energy storage system providers, which, in turn, would also fuel the overall market growth in the coming years. 

Competitive Landscape

According to MarkNtel Advisors’, the key players with a considerable market share in the Global Bio Hydrogen market include 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 Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Bio Hydrogen Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Bio Hydrogen Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Bio Hydrogen Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Bio Hydrogen Market study? 

Market Outlook, Segmentation, and Statistics:

  • Impact of COVID-19 on Global Bio Hydrogen Market
  • Market Size & Analysis
    • By Revenues
  • Market Share & Analysis
    • By Production
      • Steam reforming
      • Fermentation
      • Microbial Fuel Cell
    • By End-User
      • Food & Beverage
      • Pharmaceutical
      • Industrial
      • Automotive
      • Other
    • By Region
      • North America
      • South America
      • Europe
      • Middle East & Africa
      • Asia-Pacific
    • By Company
      • Revenue Shares
      • Strategic Factorial Indexing
      • Competitor Placement in MarkNtel Quadrant
  • Global Bio Hydrogen Market Regulations
  • Global Bio Hydrogen Market Hotspots & Opportunities
  • Competition Outlook
    • Competitor Wise Growth Strategies
    • Company Profiles

Frequently Asked Questions

A. The Global Bio Hydrogen Market is projected to grow at a CAGR of around 6% during 2021-26.

A. The Automotive sector is anticipated to emerge as an opportunity area for the leading players in the Global Bio Hydrogen Market during the forecast period.

A. Increasing focus toward utilizing eco-friendly energy sources, growing focus on clean energy, and the rising deployment of hydrogen fuel cell vehicles are driving the market through 2026.

A. The government of different countries are taking several initiatives like favorable policies, incentives, stimulus packages for various manufacturers, automakers, and other industries, and fueling the demand for bio hydrogen, thereby enabling the market to regain its usual pace in the coming years.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Bio hydrogen Market
  5. Global Bio hydrogen Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Production
        1. Steam reforming
        2. Fermentation
        3. Microbial Fuel Cell
      2. By End-User
        1. Food & Beverage
        2. Pharmaceutical
        3. Industrial
        4. Automotive
        5. Other
      3. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      4. By Company
        1. Competition Characteristics
        2. Key Initiatives
        3. Value Chain
        4. Competitive Matrix
  6. North America Bio hydrogen Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Production
      2. By End-User
      3. By Country
        1. The US
        2. Canada
        3. Mexico
  7. South America Bio hydrogen Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Production
      2. By End-User
      3. By Country
        1. Brazil
  8. Europe Bio hydrogen Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Production
      2. By End-User
      3. By Country
        1. The UK
        2. Germany
        3. France
  9. Middle East & Africa Bio hydrogen Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Production
      2. By End-User
      3. By Country
        1. GCC
        2. South Africa
  10. Asia-Pacific Bio hydrogen Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Production
      2. By End-User
      3. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
  11. Global Bio hydrogen Market Policies, Regulations, Product Standards
  12. Global Bio hydrogen Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  13. Global Bio hydrogen Market Hotspot & Opportunities
  14. Global Bio hydrogen Market Key Strategic Imperatives for Success & Growth
  15. Competition Outlook
    1. Competition Matrix
      1. Product/ Solution Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. The Linde Group
      2. Air Products and Chemicals, Inc.
      3. BP America
      4. Shell Hydrogen LLC
      5. ExxonMobil Corporation
      6. Chevron Corporation
      7. Hydrogen Europe
      8. Ceres Power
      9. Johnson Matthey
      10. Fuel Cell Systems
  16.  Disclaimer
Global Bio Hydrogen Market Segmentation