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Offshore Drilling Market to Rise at 7 9% CAGR till 2026; Increasing Demand for Hydrocarbons Worldwide to Prove Beneficial for the Market: Fortune Business Insights™
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Offshore Drilling Market to Rise at 7 9% CAGR till 2026; Increasing Demand for Hydrocarbons Worldwide to Prove Beneficial for the Market: Fortune Business Insights™
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Dublin, March 03, 2021 (GLOBE NEWSWIRE) The "Global Renewable Methanol Market 2021-2028" report has been added to ResearchAndMarkets.com's offering. Global market for renewable methanol, predicts that the industry is likely to witness a CAGR of 3.16% by revenue and 2.08% by volume over the forecasting duration of 2021-2028.There has been a growing inclination towards the adoption of sustainable energy sources, which is one of the major growth-inducing factors for this market. Plus, the rigid governmental rules & regulations and the availability of renewable methanol are contributing to this growth. However, factors like the high costs required for the installation of these sources are hindering this growth process. Despite this, the industry has several opportunities for growth, which includes the usage of renewable methanol as a substitute to heave marine fuels.REGIONAL OUTLOOKThe market in North America is expected to grow the fastest worldwide, over the forthco
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The global hydrogen generation market was valued at USD 143 billion in 2019 and is projected to reach USD 201 billion by 2025; it is anticipated to grow at a CAGR of 9.2% during the forecast period.
Rising obligations to reduce greenhouse gas emissions from traditional methods has driven the hydrogen generation market growth. Furthermore, increased demand for long-term storage of renewable energy is driving the hydrogen generation market. However, the high energy consumption of hydrogen generation technologies is likely to hamper the growth of the hydrogen generation market.
The power generation segment, by end user, is expected to be the largest and the fastest-growing market from 2020 to 2030
The Worldwide Hydrogen Generation Industry is Expected to Reach $201 Billion by 2025
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