Hydrogen Market size is valued at USD million in 2021 and is expected to reach a value of USD million by 2028, growing at a CAGR of x% during the forecast period 2022 to 2028. The global market provides a detailed overview of the hydrogen market and that can be segmented by delivery mode, production method, and end-user. By delivery mode, the hydrogen market has been segmented into centralized production and distributed production. The centralized production segment is likely to be the largest and fastest-growing segment in terms of technology. Based on the production method, the hydrogen market is segmented into steam methane reforming, partial oxidation of oil, coal gasification, water electrolysis, and others. Among these, the coal gasification segment is expected to have the fastest-growing market during the forecast period 2022-2028. On the basis of end-user, the market is segregated into chemicals, petroleum refining, metal processing, automotive fuel, glass industry, edible fats & oils, energy, and others. The petroleum refining segment is expected to be the fastest-growing segment in the market.
In May 2020, ENGIE collaborated with Neste and CEA, a French research agency, to decarbonize a bio-refinery in Rotterdam using renewable hydrogen. The project uses the world’s first multi-megawatt high temperature electrolyzer to produce green hydrogen.