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Asia-Pacific Hydrogen Generation Market Outlook, 2027

Bharat Book Bureau Provides the Trending Market Research Report on “Asia-Pacific Hydrogen Generation Market Outlook, 2027”under Energy Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
Although hydrogen is the most abundant element on earth, it generally does not exist in a free state and needs to be extracted from its compounds, such as water and natural gas. One of the reasons for hydrogen's being a valuable energy carrier is its diverse production methods. In the Asia-Pacific region, there is a broad range of commitment across the government and private sectors to support the potential of hydrogen in various sectors. The Asia-Pacific region heavily relies on fossil fuels and the overall energy demand is projected to continue to grow during the forecast period. In line with the Paris Agreement, there has been a regional push to reduce greenhouse gases and to lower local environmental pollution. Strong government and commercial support, coupled with technological enhancements across the Asia-Pacific region, point towards the promising prospects for the development of clean hydrogen across the region. On the supply side, the Asia-Pacific region holds the potential for hydrogen exports due to plentiful access to renewable resources in high demand centers. For instance, Australia is considered a potential exporter of hydrogen owing to its geographical proximity, existing infrastructure, and abundance of renewable resources. In 2019, the governments of the region established "The Asia-Pacific Hydrogen Association," which is leading the hydrogen industry across various developing economies in this region.
According to the research report, "Asia-Pacific Hydrogen Generation Market Outlook, 2027," published by Our Company, the hydrogen generation market is anticipated to grow at a 7.06% CAGR in terms of value during the forecast period. The region remains a high-potential market as it is the fastest expanding region for energy demand and renewable growth over the coming time period. This potential also provides a possible secondary use for excess power generation from hydrogen as a form of energy storage. The Asia-Pacific hydrogen generation market is segregated into five prominent countries, including China, Japan, India, South Korea, and Australia. Among these countries, China is projected to occupy more than half the market share during the forecast period.
According to the New Energy Vehicle Industry Development Plan released by the China State Council, China has stepped up its investments in clean hydrogen and has announced initiatives for hydrogen usage. China is the largest producer of hydrogen compared to other countries. Also, China is aiming to focus on expanding the use of hydrogen in heavy transportation and developing infrastructure for the same. From the research, it has been found that during 2016–2019, the number of hydrogen refuelling stations doubled every year. By the end of 2020, more than 80 hydrogen refuelling stations will have been put into operation across the country. On the other hand, Japan has the greatest number of hydrogen refueling stations of any country across the globe. Japan accounts for more than 150 hydrogen stations in the Asia-Pacific market. Due to increasing regulations for carbon emissions across the region, demand for clean hydrogen fuel is increasing across the region.
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Target State: Maharashtra
Target City : Navi Mumbai
Last Update : 27 June 2022 4:54 PM
Number of Views: 2
Item  Owner  : Priya Prakash
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Contact Phone: 02227810772

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2022-06-27 (0.622 sec)