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.
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.
0 Comments