H1 2023: The prominent players in the North America Hydrogen market in H1 2023 were Chevron USA Inc, Praxair, Flint Hills Resources LP, and Air Products. The Hydrogen price trend underwent shifts in sentiment during the 1st quarter of 2023. Initially, the trend was bearish, and prices decreased marginally due to a decline in production costs. However, prices experienced a specific decline in the mid-quarter, attributed to reduced orders from European importers. Towards the end of the quarter, the price trend improved, and prices rose due to increased orders from importers. In the USA market, Hydrogen prices significantly declined in Q2. This decline was primarily due to a reduction in the downstream ammonia industry, driven by off-season demand. Additionally, feedstock prices decreased, contributing to a decline in input production costs. Furthermore, international market demand decreased amid a weak global economic outlook, and the rising interest rate led to an overall pessimistic market view. The plants operated at lower rates due to weak demand. Constantly declining prices led to negative market sentiments, and new orders were only procured when there was demand from the downstream industry. Furthermore, April and June saw a decrease in pricing trend in the USA.
The North America Hydrogen market reached around 55.6 million tonnes in 2022 and is expected to grow at a CAGR of 3.58% till the year 2032. Hydrogen finds applications across diverse industries, playing a pivotal role in shaping the future of clean energy and sustainable practices. One of its primary uses lies in energy production, where hydrogen fuels cells generate electricity with water vapor as the sole byproduct, offering a clean and efficient alternative. This extends to transportation, where hydrogen powers vehicles and even aircraft, showcasing its potential to revolutionize the automotive and aviation sectors. Industrially, hydrogen contributes significantly to processes such as hydrogenation, essential in the production of chemicals like methanol and ammonia. In the electronics industry, hydrogen plays a crucial role in semiconductor manufacturing and metal reduction processes.
Its metallurgical applications, particularly in the production of steel, underscore its importance in the manufacturing sector. As a form of energy storage, hydrogen, generated through electrolysis during periods of excess renewable energy, holds promise for addressing energy intermittency challenges. Hydrogen's utilization in combined heat and power systems further underscores its potential in decentralized energy generation. With ongoing advancements and growing emphasis on sustainable practices, hydrogen continues to evolve as a key player in shaping a cleaner, more energy-efficient future across an array of industries.
The hydrogen market in North America is experiencing robust growth driven by a confluence of factors. As the region intensifies its focus on sustainable energy solutions, hydrogen emerges as a key player in the transition to a low-carbon economy. Government initiatives and investments in clean energy technologies, coupled with a heightened awareness of environmental concerns, are propelling the demand for hydrogen. Applications in sectors like transportation, industry, and power generation are expanding, with hydrogen being increasingly recognized as a versatile and clean energy carrier. Collaborations between industry players, research institutions, and governments are fostering innovation, leading to advancements in hydrogen production, storage, and distribution technologies. By 2032, the North America Hydrogen market is likely to reach 86.8 million tonnes.
On the basis of region, North America Hydrogen market is segmented into USA, Mexico, and Canada. Among these, USA is the leading consumer of Hydrogen. In 2022, USA consumed roughly 75% of the North America Hydrogen market demand. Also, Canada will most likely experience a rise of Hydrogen in the coming years due to the incoming demand from the downstream sectors.
Based on the end-user industry, the North America Hydrogen market is segmented into Ammonia, Refining, Methanol, and Others. However, Ammonia is the dominating sector as the consumer of Hydrogen. This industry consumed approximately 50% of the market in 2022 and is anticipated to remain the leading consumer in the upcoming years. Ammonia serves as a primary ingredient in the production of nitrogen-based fertilizers. Additionally, this compound finds application in various industries, including air conditioning and refrigeration, plastics manufacturing, detergent production, explosives formulation, pesticides, and other diverse uses.
Major players in the North America Hydrogen market are Chevron USA Inc, Praxair, Flint Hills Resources LP, Air Products, WRB Refining LP, BP West Coast Products LLC, Martinez Refining Co LLC, Valero, Air Liquide, Linde plc, Phillips 66 Company, Cenex Harvest States Coop, Delaware City Refining Co LLC, HollyFrontier El Dorado Refining LLC, Sinclair Wyoming Refining Co, CHS and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of Hydrogen which covers production, demand and supply of Hydrogen market in North America
‘• To analyse and forecast the market size of Hydrogen
• To classify and forecast North America Hydrogen market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Hydrogen market in North America
To extract data for North America Hydrogen market, primary research surveys were conducted with Hydrogen manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for North America Hydrogen market over the coming years.
ChemAnalyst calculated Hydrogen demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of raw material to produce Hydrogens. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hydrogen manufacturers and other stakeholders
• Organizations, forums and alliances related to Hydrogens distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hydrogen manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
ChemAnalyst calculated Hydrogen demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Hydrogen across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Report Scope:
In this report, North America Hydrogen market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
55.6 million tonnes
Market size Volume by 2032
78.6 million tonnes
Growth Rate
CAGR of 3.58% from 2023 to 2032
Base Year
2022
Estimated Year
2023
Historical Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Ammonia, Refining, Methanol, and Others)
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com.
Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Hydrogen market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Hydrogen.
3. Capacity By Location
To better understand the regional supply of Hydrogen by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Hydrogen by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Ammonia, Refining, Methanol, and Others) are creating a market and the forecast for the growth of the Hydrogen market.
7. Demand by Region
Analyzing the change in demand of Hydrogen in different regions, i.e., USA, Mexico, and Canada, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Hydrogen. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Hydrogen.
10. Company Share
Figure out what proportion of the market share of Hydrogen is currently held by leading players across the globe.
11. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Hydrogen.
12. Company Share
Figure out what proportion of the market share of Hydrogen is currently held by leading players across the globe.
13. Manufacturing Process
Discover insights into the intricate manufacturing process of Hydrogen.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was North America market size of Hydrogen in terms of volume for 2022?
Ans:
The North America market size of Hydrogen was approximately 55.6 million tonnes in 2022
Q2.
What are the major end-use industries of Hydrogen?
Ans:
Hydrogen is used in a wide range of end use industries including Ammonia, Refining, Methanol, and Others.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database) Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.