The rising public awareness about the environmental damage being caused due to the large-scale usage of fossil fuel-based energy is pushing up the global demand for renewable energy sources such as hydrogen. Moreover, the governments of several countries such as Japan, China, and the U.S. are increasingly launching initiatives for promoting the utilization of vehicles powered by hydrogen. Further, the huge costs associated with the import of crude oil are also boosting the popularity of hydrogen fuel cells.

Apart from the aforementioned factors, the depleting reserves of crude oil are also contributing significantly toward the soaring adoption of hydrogen energy across the world. Besides the power sector, the chemical industry is also generating huge demand for hydrogen. The gas is widely used in refineries in hydrocracker unit. With the steady growth of the refining industry, especially in China, India, and the Middle East region, the requirement for hydrogen will rise sharply in the coming years.

Because of the above-mentioned factors, the sales of hydrogen will climb all over the world in the forthcoming years. As a result, the global hydrogen market will exhibit rapid advancement in the future. Hydrogen is commonly represented with the molecular formula, H2. Its density is 0.08988 g/l at standard temperature and pressure (STP). The gas is odorless, colorless, non-toxic, non-metallic, and tasteless. It is the most abundant element and the lightest element found in the atmosphere.

Hydrogen occurs naturally in air, in very minute concentrations. The gas is used quite heavily in the chemical industry and power sector in the U.S. and Japan. Moreover, the Nordic countries of Finland, Norway, Denmark, Iceland, and Sweden also use this gas extensively as a fuel called bio-hydrogen. This gas is widely distributed via pipelines, as pipeline distribution is usually cheaper in comparison to the cylinders- and high-pressure tube trailers-based distribution methods.

This is because unlike the pipeline distribution, the cylinders and high-pressure tube trailers-based methods require the liquefaction of the gas, which is generally a very costly process. Because of this reason, the pipeline method is preferred by gas companies for distributing large volumes of hydrogen gas to the end users. For instance, in the U.S., the authorities laid down almost 1,600 miles of hydrogen gas pipelines for the transportation of the gas.

Geographically, the Asia-Pacific (APAC) hydrogen market will be very prosperous in the upcoming years, as per the forecast of P&S Intelligence, a market research firm based in India. The main factors driving the sales of hydrogen in this region are the soaring usage of the gas in various refineries as a fuel, rapid advancements being made in hydrogen fuel cells in South Korea and Japan, and the growing requirement for these fuel cells in automobiles in various APAC countries.

Therefore, it can be safely said from the above paragraphs that the demand for hydrogen will surge all over the world in the forthcoming years, primarily because of the ballooning usage of the gas in the chemical industry and the rising popularity of hydrogen fuel cells-based vehicles in many countries around the world.

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