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In 2022, the worldwide market for this was projected to be worth US$15.3 million. It is anticipated to grow at a CAGR of 215.0% between 2023 and 2031, eventually reaching US$ 144.6 Bn by 2030's end.
Hydrogen is widely regarded as the future's most significant energy carrier because of its ability to supplement electrification in a variety of industries. Since the hydrogen market is still in its infancy, it is challenging to determine which sort of hydrogen will have high traction. Hydrogen comes in several forms, and all of them may be found in stores. Depending on the process used to create it, hydrogen has been given several colour names, including green, grey, blue, yellow, pink, and turquoise.
The manufacturing procedure for turquoise hydrogen is unique in comparison to other types of hydrogen. While other forms of hydrogen leave behind carbon dioxide, blue hydrogen leaves behind pure carbon. The economic potential of turquoise hydrogen is staggering. There should be extensive study into this. In areas without access to a CO2 storage facility, it can inexpensively deliver high-purity carbon and low-carbon hydrogen solutions. Hydrogen obtained via electrolysis, in which water is split into hydrogen and oxygen, is known as "turquoise hydrogen." The "turquoise" in turquoise hydrogen refers to the renewable energy source from which the electricity used in the electrolysis process was created.
A major factor propelling this industry is the worldwide shift to renewable energy sources like wind and solar power. Turquoise hydrogen demand is rising as decarbonization efforts receive more attention. This provides a clean and low-carbon alternative to conventional hydrogen generation processes, which is welcomed by governments, industry, and organisations dedicated to cutting carbon emissions. Important market drivers include government regulations and subsidies that are supportive of the industry. Governments provide a favourable market environment for clean energy and hydrogen technology through enacting renewable energy objectives, carbon pricing mechanisms, and incentives. The increasing need for environmentally friendly vehicles is also fueling the Turquoise hydrogen market. This provides a clean fuel option for fuel cell vehicles, which are becoming increasingly important as the demand for emission-free transportation options increases. Uses for turquoise hydrogen range from clean feedstock in industries like chemical production and refining to process heating in others. It can also be used in energy storage systems to provide power when needed by storing excess renewable energy. Growth in the market and improvements in electrolysis technology have made Turquoise hydrogen a feasible alternative to more conventional methods of producing hydrogen.
The report's segment analysis, conducted at the country and regional levels, provides the strategist with the information necessary to pinpoint the most promising markets for any given product or service.
North America is expected to account for a sizable proportion of the turquoise hydrogen market between 2023 and 2031, according to the most recent prediction. The growth of the renewable energy industry and the subsequent increase in demand for green ammonia are driving regional market trends.
Report Coverage
Global Turquoise Hydrogen research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Turquoise Hydrogen report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Turquoise Hydrogen competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Turquoise Hydrogen market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Turquoise Hydrogen market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Turquoise Hydrogen market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
C-Zero, Pure Hydrogen Corporation, Ebara Corporation, Aurora Hydrogen, Ekona Power Inc., Hazer Group Limited, Monolith Inc., Mitsubishi Power, and HiiROC
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Turquoise Hydrogen market based on the below-mentioned segments:
Global Turquoise Hydrogen Market, By Feedstock
Renewable Electricity
Natural Gas
Global Turquoise Hydrogen market, By Process
Methane Pyrolysis
Molten Salt Pyrolysis
Global Turquoise Hydrogen Market, By Application
Petrochemical
Ammonia
Chemical
Steel
Transportation
Power
Global Turquoise Hydrogen market, Regional Analysis
Hydrogen is widely regarded as the future's most significant energy carrier because of its ability to supplement electrification in a variety of industries. Since the hydrogen market is still in its infancy, it is challenging to determine which sort of hydrogen will have high traction. Hydrogen comes in several forms, and all of them may be found in stores. Depending on the process used to create it, hydrogen has been given several colour names, including green, grey, blue, yellow, pink, and turquoise.
The manufacturing procedure for turquoise hydrogen is unique in comparison to other types of hydrogen. While other forms of hydrogen leave behind carbon dioxide, blue hydrogen leaves behind pure carbon. The economic potential of turquoise hydrogen is staggering. There should be extensive study into this. In areas without access to a CO2 storage facility, it can inexpensively deliver high-purity carbon and low-carbon hydrogen solutions. Hydrogen obtained via electrolysis, in which water is split into hydrogen and oxygen, is known as "turquoise hydrogen." The "turquoise" in turquoise hydrogen refers to the renewable energy source from which the electricity used in the electrolysis process was created.
A major factor propelling this industry is the worldwide shift to renewable energy sources like wind and solar power. Turquoise hydrogen demand is rising as decarbonization efforts receive more attention. This provides a clean and low-carbon alternative to conventional hydrogen generation processes, which is welcomed by governments, industry, and organisations dedicated to cutting carbon emissions. Important market drivers include government regulations and subsidies that are supportive of the industry. Governments provide a favourable market environment for clean energy and hydrogen technology through enacting renewable energy objectives, carbon pricing mechanisms, and incentives. The increasing need for environmentally friendly vehicles is also fueling the Turquoise hydrogen market. This provides a clean fuel option for fuel cell vehicles, which are becoming increasingly important as the demand for emission-free transportation options increases. Uses for turquoise hydrogen range from clean feedstock in industries like chemical production and refining to process heating in others. It can also be used in energy storage systems to provide power when needed by storing excess renewable energy. Growth in the market and improvements in electrolysis technology have made Turquoise hydrogen a feasible alternative to more conventional methods of producing hydrogen.
The report's segment analysis, conducted at the country and regional levels, provides the strategist with the information necessary to pinpoint the most promising markets for any given product or service.
North America is expected to account for a sizable proportion of the turquoise hydrogen market between 2023 and 2031, according to the most recent prediction. The growth of the renewable energy industry and the subsequent increase in demand for green ammonia are driving regional market trends.
Report Coverage
Global Turquoise Hydrogen research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Turquoise Hydrogen report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Turquoise Hydrogen competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Turquoise Hydrogen market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | C-Zero, Pure Hydrogen Corporation, Ebara Corporation, Aurora Hydrogen, Ekona Power Inc., Hazer Group Limited, Monolith Inc., Mitsubishi Power, and HiiROC |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Turquoise Hydrogen Market from 2021 to 2030.
- Market Forecast for Turquoise Hydrogen Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Turquoise Hydrogen competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Turquoise Hydrogen
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Turquoise Hydrogen market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Turquoise Hydrogen market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
C-Zero, Pure Hydrogen Corporation, Ebara Corporation, Aurora Hydrogen, Ekona Power Inc., Hazer Group Limited, Monolith Inc., Mitsubishi Power, and HiiROC
Primary Target Market
- Market Players of Turquoise Hydrogen
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Turquoise Hydrogen market based on the below-mentioned segments:
Global Turquoise Hydrogen Market, By Feedstock
Renewable Electricity
Natural Gas
Global Turquoise Hydrogen market, By Process
Methane Pyrolysis
Molten Salt Pyrolysis
Global Turquoise Hydrogen Market, By Application
Petrochemical
Ammonia
Chemical
Steel
Transportation
Power
Global Turquoise Hydrogen market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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