Hydrogen Market - Current and Future Industry Trends, Share, Size upto 2023

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The increasing use of hydrogen in petroleum industries is propelling the growth of the global hydrogen market. The other end-user industries for hydrogen include metal processing industries, chemical manufacturing, pharmaceuticals, and food processing. The demand for hydrogen in petroleum refining has increased significantly over the last few years, owing to stringent motor vehicle emissions regulations imposed by various governments.
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Some of the other drivers behind the growing global demand of hydrogen include increasing demand of hydrogen from refinery hydro-processing industry, and growing concept of power-to-gas. Power-to-gas concept is designed to conserve energy and optimally utilize renewable sources.
Though environmental legislations are increasing global hydrogen consumption for purification and higher quality products anticipated to provide further growth opportunities for hydrogen market, one of the major challenges to the global hydrogen market is unstable global oil refining capacity. The oil refining industry is a major end-user of hydrogen gas. Instability in this industry is severely affecting the growth of the hydrogen market. 
Geographically, Asia-Pacific is the largest revenue generating region globally for the hydrogen market. Rise in number of ammonia production plants and increasing refinery output is driving the Asia-Pacific hydrogen market, particularly in countries such as India, China, and Malaysia.
Some of the key players in the global hydrogen market include Messer Group GmbH, Airgas Inc., Taiyo Nippon Sanso Corporation, Iwatani Corporation, Hydrogenics Corporation, Air Products and Chemicals Inc., Showa Denko K.K, Air Liquide S.A. and Praxair Inc. 

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