Burgeoning Public Private Partnership in R&D is Surging Global Bio Hydrogen Market Growth

 The Global Bio Hydrogen market experienced robust growth owing to the factor such as propelling inclination toward electric vehicle, rapid urbanization and industrialization, along with rising inclination towards renewable and clean source of energy, and burgeoning public private partnership in research and development. Besides these, propelling use of clean energy automobiles, surging government inclination toward set-up of large-scale bio-reactor plant for production of bio hydrogen fuel from waste and demand for bio-hydrogen among end-user are soaring demand for the hydrogen fuel. Thus, these are the factors anticipated to fuelling the growth of the market in the forthcoming period.

Based on End-User, Industrial segment acquired the considerable market share on account of significant rise in the number of industrial plants and facilities, growing industrial waste such as vinasses from sugar and tequila industries and rising industrial wastewater is increasing the demand for bio-hydrogen as it is cheapest way for production. Automotive to grow at a steady rate due to burgeoning use of clean energy in the automobile and snowballing government investment in urban transportation by introducing electric buses.

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North America and Europe acquired the majority market share in the Global Bio Hydrogen market in 2020. The growth of the market is attributed to escalating government funding for research and developments, paradigm shift toward the use of renewable and clean source of energy in automotive and rising need for energy for transportation and power generation.

Based on Production, Fermentation is expected to witness subsequent market growth due to extensive generation of biomass such as food and starch-based wastes from various industries is increasing the demand for dark fermentation for the production of bio-hydrogen.

The key players with a considerable market share in the Global Bio Hydrogen market are The Linde Group, Air Products and Chemicals, Inc., BP America, Shell Hydrogen LLC, ExxonMobil Corporation, Chevron Corporation, Hydrogen Europe, Ceres Power, Johnson Matthey, Fuel Cell Systems etc.