Research Nester assesses the growth and market size of the global pink hydrogen market which is anticipated to be on account of the growing importance of clean energy across the world for protecting the environment.
New York – May 26, 2023 – Research Nester’s recent market research analysis on “Pink Hydrogen Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global pink hydrogen market in terms of market segmentation by form, application, and by region.
Growing Focus on Maintaining a Sustainable Energy Consumption to Promote Global Market Share of Pink Hydrogen
The global pink hydrogen market is estimated to grow majorly on account of the rising need for transportation for varied purposes. Owing to the rising government initiatives of reducing carbon emissions to maintain a healthy environment, the usage of hydrogen fuel is encouraged for transportation purposes. Several regulatory bodies are promoting the use of hydrogen in fuel cells of vehicles to lower its emission release. Escalation in the zero-carbon initiatives and rising traction toward low carbon release as pink hydrogen uses nuclear energy which is eco-friendly are some of the factors that are anticipated to drive the market growth.
Some of the major growth factors and challenges that are associated with the growth of the global pink hydrogen market are:
Growth Drivers:
– Surge in partnerships and acquisitions among key players
– Rapid growth of the steel industry
Challenges:
The easy availability of alternatives such as grey and blue hydrogen along with the requirement of high initial capital investment and the lack of infrastructure facilities for storage and transportation are some of the major factors anticipated to hamper the global market size of pink hydrogen.
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By form, the global pink hydrogen market is segmented into liquid and gas. Out of these two forms of pink hydrogen, the liquid segment is attributed to growing the fastest and holding the largest market share by the end of the forecast period. The primary reason for the segment growth is the easy availability of liquid pink hydrogen at low cost and ease-to-use features for various applications. Owing to its various benefits, liquid pink hydrogen is used as rocket fuel for oxygen and fluorine combustion which is estimated to hike the demand for the product in the upcoming years.
By region, the Asia Pacific pink hydrogen market is to generate the highest revenue by the end of 2035. This growth is estimated owing to the presence of various end-use industries that use pink hydrogen in their applications and processes. Furthermore, the rapid industrialization and urbanization in the region are estimated to generate favorable opportunities for increasing the utilization rate of pink hydrogen. Further, the increasing focus of countries on the sustainable development of energy and the high investments in producing renewable energy is driving market growth.
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This report also provides the existing competitive scenario of some of the key players of the global pink hydrogen market which includes company profiling of Siemens Energy AG, Linde plc, Hydrogenics Corporation, Ballard Power Systems Inc., ITM Power plc, McPhy Energy S.A., Nel ASA, Plug Power Inc., Toshiba Energy Systems & Solutions Corporation, Doosan Fuel Cell America, and others.
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