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As more industries, such as steel, transportation, and power, try to decarbonize their operations, the demand for low-carbon hydrogen is expected to grow. Nevertheless, the hydrogen economy is currently in its critical phase of its development, says GlobalData.

The petrol engines market is expected to record a negative compound annual growth rate (CAGR) of 5.8% in the Asia-Pacific (APAC) region over 2024-29, according to GlobalData, a leading data and analytics company.

APAC exhaust and ICE after-treatment market to decline at negative 2% CAGR over 2024-29, forecasts GlobalData

The volume of xEV batteries is projected to increase steadily to reach 29.9 million units in APAC by 2029, recording a compound annual growth rate (CAGR) of 9.3% over 2024-29, according to GlobalData, a leading data and analytics company.

Nivedita Roy, Oil and Gas Analyst at GlobalData, comments: “This high-capacity addition of ammonia in the US is attributed to the abundance of low-cost natural gas, which is a primary feedstock for the production of ammonia. The large agriculture sector of the US relies heavily on ammonia-based fert...

Saurabh Daga, Project Manager of Disruptive Tech at GlobalData, comments: “Energy storage technologies are emerging as a cornerstone for the global shift to renewables, addressing critical challenges of intermittency and grid stability.

GlobalData’s latest report reveals that the automotive EV infrastructure market covering two types of charging stations, fast charging stations powered by direct current and slow charging stations powered by alternating current, is estimated at 3.3 million units in 2024 and is forecast to reach 6.2 ...

North America is set to lead the global ammonia industry capacity additions with a share of 37% by 2030 by gaining capacity from new-build and expansion projects between 2023 and 2030, according to GlobalData, a leading data and analytics company. 

According to the latest report by GlobalData, Asia will be a key contributor to global methanol industry capacity additions with a share of 26.7% by 2027, as the region gains capacities from new-build projects between 2023 and 2027.

According to GlobalData, a leading data and analytics company, oil and gas companies held little over 1% of the total installed renewable energy capacity globally in 2022, in a market that is dominated by traditional power producers