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Hydrogen Market is projected to reach USD 410.6 billion in 2030 from USD 242.7 billion in 2023 at a CAGR of 7.8% according to a new report by MarketsandMarkets™. Hydrogen is the lightest and most abundant element in the universe. Hydrogen gas has an excellent energy carrying capacity. It can be produced in large quantities and supplied to large-scale industries for various operations. It can be produced as a principal and by-product from various primary energy sources (such as wind, solar, coal, natural gas, and nuclear). Currently, hydrogen is produced in bulk for many value-added uses and chemical substances. It delivers power for various applications, including fuel cells and combined heat and power technologies. global push to reduce carbon emissions and combat climate change has led to an increased focus on clean and sustainable energy sources and drive the demand for Hydrogen Market.

Hydrogen Market is projected to reach USD 410.6 billion in 2030 from USD 242.7 billion in 2023 at a CAGR of 7.8% according to a new report by MarketsandMarkets™. Hydrogen is the lightest and most abundant element in the universe. Hydrogen gas has an excellent energy carrying capacity. It can be produced in large quantities and supplied to large-scale industries for various operations. It can be produced as a principal and by-product from various primary energy sources (such as wind, solar, coal, natural gas, and nuclear). Currently, hydrogen is produced in bulk for many value-added uses and chemical substances. It delivers power for various applications, including fuel cells and combined heat and power technologies. global push to reduce carbon emissions and combat climate change has led to an increased focus on clean and sustainable energy sources and drive the demand for Hydrogen Market.

Hydrogen is the lightest and most abundant element in the universe. Hydrogen gas has an excellent energy carrying capacity. It can be produced in large quantities and supplied to large-scale industries for various operations. It can be produced as a principal and by-product from various primary energy sources (such as wind, solar, coal, natural gas, and nuclear). Currently, hydrogen is produced in bulk for many value-added uses and chemical substances. It delivers power for various applications, including fuel cells and combined heat and power technologies. global push to reduce carbon emissions and combat climate change has led to an increased focus on clean and sustainable energy sources and drive the demand for hydrogen market. The hydrogen market is projected to reach USD 410.6 billion by 2030 from an estimated USD 242.7 billion in 2023, at a CAGR of 7.8% during the forecast period.

US regulators on Thursday finalised new fuel efficiency rules for cars and light trucks, raising fuel economy standards and for the first time regulating greenhouse-gas emissions blamed for global warming.

According to a new market research report "Scrubber System Market by Type (Wet (Design), Dry (Sorbent Mixing)), End-User (Marine, Oil & Gas, Petrochemicals & Chemicals, Pharmaceuticals, Glass, Pulp & Paper, Food & Agricultural, Wastewater Treatment), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global market is projected to reach USD 1.86 Billion by 2023. The scrubber system market is expected to grow from an estimated USD 1.02 Billion in 2018 to USD 1.86 Billion by 2023, registering a CAGR of 12.82% during the forecast period. This growth is primarily due to the growing stringent environmental regulations to reduce atmospheric emissions.

Stringent emission policies in prominent countries and rise in demand for natural gas vehicles are the major drivers that would trigger growth in the CNG dispenser market. CNG Dispenser Market by Type (Fast Fill and Time Fill), Flow Rate (Up to 15, Up to 50, and Up to 100 Kg/Min), Distribution (Company Owned & Company Run, Company Owned & Dealer Run, and Dealer Owned & Dealer Run), and Region

According to the new market research report "Power Grid System Market in Subsea by Component (Cables, Variable Speed Drives, Transformers, Switchgears), Application (Captive Generation, Wind Power), Depth (Shallow Water and Deepwater) and Region - Global Forecast to 2027", is expected to grow from an estimated USD 9.1 billion in 2022 to USD 14.8 billion in 2027, at a CAGR of 10.2% during the forecast period. Power grid systems in subsea play an important role in the offshore power supply network. Subsea power grid comprise of several components such as cables, transformers, variable speed drives, switchgears, and others used for various applications. The subsea power grid system is gaining traction as oilfield operators are moving toward deep and ultra-deepwater levels for exploring oil and gas reserves. Moreover, offshore wind power is also one of the prominent applications for subsea power grid systems. Favorable government policies for offshore renewable power production, especially using wind energy along with urgent need to reduce carbon emissions and improve grid reliability and efficiency is expected to drive the demand for subsea power grid systems.

Scrubber System Market is projected to grow from USD 5.0 billion in 2022 to USD 6.7 billion by 2027, at a CAGR of 6.1% according to a new report by MarketsandMarkets™. Rising concerns regarding emissions and the formulation of various environmental protection laws and mandates to reduce the same on a global level have increased the need to undertake measures on air pollution control, which is likely to increase the usage of scrubbers in sectors the marine, oil & gas, metal & mining, power generation, chemical & petrochemical, food, beverage, & agriculture, glass, pharmaceutical, water & wastewater treatment industries.

Hydrogen is the simplest element exist on Earth and is a energy carrier. Hydrogen is rarely found by itself in nature and must be produced from substances that contain it. Hydrogen can store and distribute useable energy. The production of hydrogen can be done in a low-carbon manner using a variety of domestic resources, such as nuclear energy and renewable energy sources including wind, solar, geothermal, and hydroelectric power, as well as fossil fuels like coal and natural gas combined with carbon capture and storage. Utilizing hydrogen can enable zero or nearly zero emissions in transportation, integrated renewable energy systems, and other industrial and chemical operations. Emerging hydrogen markets within these sectors include data centers, ports, steel manufacturing, and medium- and heavy-duty trucks. 

The global hybrid power solutions market is projected to reach USD 4.0 billion by 2028 from an estimated USD 2.4 billion in 2023, at a CAGR of 10.4% during the forecast period. Hybrid power solution are primarily used in remote and off-grid areas, telecom infrastructure, commercial buildings, industrial facilities, residential applications, mining and oil & gas, and renewable energy projects. Hybrid power solutions combine renewable energy sources with conventional power generation or energy storage technologies to provide a stable and reliable electricity supply while promoting sustainability and reducing carbon emissions.

Hydrogen Fueling Station Market size is projected to grow from USD 380 million in 2023 to USD 1,129 million by 2030, at a CAGR of 16.8% according to a new report by MarketsandMarkets™. Factors such as stringent government regulations to control greenhouse gas emissions and increasing implementation of national hydrogen strategies across various countries is significantly contributing to the growth of Hydrogen Fueling Station Market.

The CHP market size will grow to USD 35.2 billion by 2026 (forecast year) from USD 26.6 billion in 2021 (estimated year), at a CAGR of 5.8% during the forecast period. Combined heat and power (CHP) is an energy-efficient technology that generates electricity and captures the heat that would otherwise be wasted to provide useful thermal energy, such as steam or hot water. This steam or hot water, in turn, can be used for heating, cooling, and other domestic and industrial processes. The conventional method of producing usable heat and power separately has a typical combined efficiency of 45%, where CHP systems can operate at levels as high as 80%. CHP can be implemented for different types of prime movers, such as gas turbines, steam turbines, reciprocating engines, fuel cells, and microturbines. CHP is also called cogeneration, and it can be used in an individual facility/building or a district energy/utility resource. The technology is typically employed at facilities where there is a need for electricity and thermal energy. It provides benefits such as a reduction in dependency on grid support due to on-site electricity generation, enhanced reliability, reduced costs of energy and initial setup, increased resiliency against power disruption, and reduction in harmful emissions. Critical electrical and thermal loads can be handled by CHP systems during grid power outages. Micro turbines are a type of combustion turbine that produces both heat and electricity on a relatively small scale.

The hydrogen generation market size is expected to grow from an estimated USD 130 billion in 2020 to USD 201 billion by 2025, at a CAGR of 9.2% during the forecast period. Increasing fuel cell power generation application as well as increasing government regulations for desulphurization and greenhouse gas emissions are high growth prospects for the hydrogen generation market during the forecast period.

The hydrogen generation market size is expected to grow from an estimated USD 130 billion in 2020 to USD 201 billion by 2025, at a CAGR of 9.2% during the forecast period. Increasing fuel cell power generation application as well as increasing government regulations for desulphurization and greenhouse gas emissions are high growth prospects for the hydrogen generation market during the forecast period.

the Power Grid System Market in Subsea is expected to grow from an estimated USD 9.1 billion in 2022 to USD 14.8 billion in 2027, at a CAGR of 10.2% during the forecast period. Power grid systems in subsea play an important role in the offshore power supply network. Subsea power grid comprise of several components such as cables, transformers, variable speed drives, switchgears, and others used for various applications. The subsea power grid system is gaining traction as oilfield operators are moving toward deep and ultra-deepwater levels for exploring oil and gas reserves. Moreover, offshore wind power is also one of the prominent applications for subsea power grid systems. Favorable government policies for offshore renewable power production, especially using wind energy along with urgent need to reduce carbon emissions and improve grid reliability and efficiency is expected to drive the demand for subsea power grid systems.

The electric traction motor market has grown significantly in recent years, owing to the growing popularity of electric vehicles (EVs) worldwide. Electric traction motors are a critical component of electric vehicles, providing the necessary power to drive the wheels and propel the vehicle forward. According to a latest research, 'The global electric traction motor market is projected to reach USD 22.2 billion by 2027 from an estimated market size of USD 12.3 billion in 2022, at a CAGR of 12.6% during the forecast period.' The market for electric traction motors is expected to continue growing rapidly in the coming years, as governments around the world push for the adoption of electric vehicles in an effort to reduce greenhouse gas emissions and combat climate change.

According to a research report "Combined Heat and Power Market by Prime Mover (Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine), Capacity (Up to 10 MW, 10-150 MW, 151-300 MW, Above 300 MW), Fuel, End User and Region - Global Forecast to 2029″, the Combined heat and power market is projected to reach USD 39.2 billion by 2029 from an estimated USD 30.4 billion in 2024, at a CAGR of 5.2% during the forecast period. The demand for combined heat and power (CHP) is growing due to its efficiency in generating electricity and capturing waste heat for heating or cooling purposes, reducing energy costs and emissions. It offers benefits like increased energy efficiency, lower operational costs, and enhanced grid resilience. CHP systems are used in various sectors including industrial facilities, commercial buildings, hospitals, universities, and residential complexes to meet energy needs sustainably.