|
Home | Technology News Search Engine:
|
|
|
|
Home: Technology News:
|
|
|
(IT-NEWSWIRE.COM, August 29, 2024 ) The global hydrogen technology TIC Market was valued at USD 4.1 billion in 2024 and is projected to reach USD 9.2 billion by 2029; it is expected to register a CAGR of 17.8% during the forecast period. The increasing trend of clean energy, more acceptance and support from the government towards decarbonizing various industries, and growing advancements in hydrogen infrastructure including refueling stations, pipelines as well as storage are some factors that are seen to be pushing the Hydrogen Technology TIC market up continuously. Also, the volatility in the hydrogen processes and the stringent regulation systems to govern the processes are also add to the inherent risks which serve as the drivers to the market growth. Moreover the technological adoption for green hydrogen also fuels the market.
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162205222
Analyzing by generation types, grey hydrogen is expected to dominate the market throughout the forecast period. The generation type segment is divided into several categories which include gray hydrogen, blue hydrogen and green hydrogen. Out of the two types of hydrogen, gray hydrogen is likely to be the biggest market during the course of the forecast timeframe. The effect of natural gas on the production of grey hydrogen is highly influential because it is fairly cheap. Therefore, it can be inferred that when natural gas is cheap, then it will be economically viable to produce hydrogen from this hydrocarbon resource which is prevalent in many locales.
The mobility is expected to be the fastest growing segment in the forecast period. Hydrogen is being gradually more applied for powering vehicles and other means of transportation and transport, as well as other uses such as cars, buses, trucks, trains, ships, and even aircrafts. FCVs operates on hydrogen and oxygen, where the combination produces electricity to drive the electric motor to make the car move. In its application, the sole outcome of the method employed is the formation of water vapor, thus making it an emission-free mode of generation. FCVs enjoys longer driving range and shorter period of time required to refuel as compared to battery electric vehicles (BEVs) for long distances and frequent heavy duty transport. Thanks to battery electric vehicles such drive trains are now available, efficient, and, most importantly, becoming affordable – something that is crucial for fuel cell vehicles. This has brought about rapid advancement in the fuel cell mobility sector so fuel cell vehicles are generally electric vehicles in the sense that they pull their energy from hydrogen.
The Asia-Pacific region leads the global hydrogen technology TIC market, driven by rapid industrialization in chemicals, manufacturing, and energy sectors. The region's stringent regulations on safety, environmental protection, and quality standards significantly boost TIC service demand. Additionally, substantial investments in hydrogen infrastructure—covering production, storage, and transportation—require rigorous testing and compliance with international standards. Government initiatives promoting clean energy and sustainable development further increase the need for TIC services to ensure hydrogen technology safety and reliability. These factors collectively position the Asia-Pacific region as the dominant market for hydrogen TIC services.
Ask for Sample Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=162205222
Key Market Players:
SGS SA (Switzerland), Bureau Veritas (France), Intertek Group plc (UK), DEKRA (Germany), TÜV SÜD (Germany), DNV GL (Norway), TÜV RHEINLAND (Germany), Applus+ (Spain), TÜV NORD Group (Germany), and UL LLC (US) are some of the key players in the hydrogen technology TIC companies.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
MarketsandMarkets™
Mr. Rohan Salgarkar
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
|
|
|
|
|
Technology News Headlines
|
|
|
|
|
Technology Business Video Feed
|
|
More Technology Video Feeds
|
|
|
