Market Research Future (MRFR) has published on the “Global Hydrogen Pipeline Market”.
Market Research Future (MRFR) has published a cooked research report on the “Global Hydrogen Pipeline Market” that contains information from 2019 to 2032. The Hydrogen Pipeline market is estimated to register a CAGR of 16.20% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Hydrogen Pipeline market— Cenergy Holdings (Belgium), SoluForce B.V. (The Netherlands), Salzgitter AG (Germany), Gruppo Sarplast S.r.l (Italy), Tenaris (Luxembourg), Hexagon Purus (Norway), Pipelife International GmbH (Austria), Europe Technologies (France), H2 Clipper, Inc. (US), NPROXX (The Netherlands), GF Piping Systems (Switzerland), ArcelorMittal (Luxembourg), and Jindal Saw Limited (India).
Hydrogen Pipeline Market Highlights
The global Hydrogen Pipeline market is accounted to register a CAGR of 16.20% during the forecast period and is estimated to reach USD 31.24 billion by 2032.
Decarbonization has emerged as a critical global initiative with the dual purpose of alleviating the impacts of climate change and promoting the transition to more sustainable and environmentally friendly energy systems. Hydrogen has generated significant attention as an environmentally sustainable and versatile energy carrier in the ongoing effort to reduce carbon emissions. Notwithstanding, hydrogen's combustibility poses a significant barrier to the expansion of the hydrogen pipeline industry. Hydrogen is among the most combustible elements due to its broad explosive range, which means it can detonate at relatively low concentrations and with negligible energy.
Segment Analysis
The global Hydrogen Pipeline market has been segmented based on type, distance, hydrogen form, and pipeline structure.
On the basis of type, the market is segmented into Mobile Pipelines and Fixed Pipelines. The greatest market share was ascribed to the Fixed Pipelines segment in the year 2023. They offer a dependable and long-lasting method of hydrogen transfer by virtue of their continuous submersion.
Based on distance, the global Hydrogen Pipeline market has been segmented into Up to 300 Km and More than 300 Km. It was anticipated that the More than 300 Km segment would maintain its greatest market share in 2023. This contributes to the expansion of the global hydrogen economy by facilitating cross-regional integration via conduits extending over 300 kilometers.
On the basis of hydrogen form, the market is segmented into Gas and Liquid. The greatest market share was ascribed to the Gas segment in the year 2023. Hydrogen can be transported through natural gas conduits, which are specifically engineered to transport combustible gases.
Based on pipeline structure, the global Hydrogen Pipeline market has been segmented into Metal and Plastics & Composites. It was anticipated that the Plastics & Composites sector would maintain its greatest market share in 2023 because of their exceptional resistance to corrosion, lightweight construction, and high strength-to-weight ratio due to their reinforced polymer matrix composition. Due to their versatility in accommodating various pipeline terrains and surfaces, the installation process is simplified, resulting in reduced costs.
Regional Analysis
The global Hydrogen Pipeline market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Hydrogen Pipeline market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Hydrogen Pipeline market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Hydrogen Pipeline market comprises the Middle East, Africa, and Latin America.
The North American regional sector in the hydrogen pipeline industry maintained its highest market share. The dominance of the region has been facilitated by its highly developed infrastructure. This geographical area makes substantial contributions to technological and governmental policy endeavors. The enhanced utilization of renewable hydrogen, which enables the achievement of zero emissions, can be attributed to the region's more advanced infrastructure. In addition, public-private partnerships and investments contribute to the growth of the market.
Furthermore, the European market has exhibited consistent growth throughout the projected timeframe. Hydrogen, an element of remarkable versatility with an extensive range of applications, is considered a clean energy carrier on account of its ability to produce energy in fuel cells or as a clean fuel for various industrial processes in the European region, both of which have minimal ecological impacts. Therefore, the continuous advancement towards the implementation of low-carbon hydrogen and the enhancement of the existing gas infrastructure, including pipelines, will positively impact the business outlook in this sector.
Additionally, the Asia-Pacific region demonstrates a constantly changing and dynamic market demand for hydrogen pipelines, with South Korea, China, and Japan holding the leading positions in terms of supply. The demand for hydrogen has been stimulated by notable endeavors such as Japan's long-term strategy to utilize hydrogen as its primary energy source and China's commitment to establish a hydrogen society. The region benefits from technological advancements, government incentives, and an expanding industrial sector.
Furthermore, the rest of the world, which comprises the global hydrogen pipeline market, is Africa, the Middle East, and Latin America. The increasing demand for hydrogen can be attributed to renewable energy sources, favorable government policies, and rising energy costs. Hydrogen pipeline demand is primarily influenced by the gas and hydrocarbon infrastructure in this region.
Key Findings of the Study
- By 2032, the global market for hydrogen pipelines is anticipated to have reached USD 31.24 billion, expanding at a CAGR of 16.20% over the period of the forecast.
- The Asia-Pacific region exhibited the most rapid expansion of the worldwide market. The region benefits from technological advancements, government incentives, and an expanding industrial sector.
- Based on pipeline structure, the plastics & composites segment was attributed to holding the largest market in 2023.
- Cenergy Holdings (Belgium), SoluForce B.V. (The Netherlands), Salzgitter AG (Germany), Gruppo Sarplast S.r.l (Italy), Tenaris (Luxembourg), Hexagon Purus (Norway), Pipelife International GmbH (Austria), Europe Technologies (France), H2 Clipper, Inc. (US), NPROXX (The Netherlands), GF Piping Systems (Switzerland), ArcelorMittal (Luxembourg), and Jindal Saw Limited (India) are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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