Hydrogen Generation Market size was valued at US$ 134 Bn. in 2020. Hydrogen Generation Market is estimated to grow at a CAGR of 8.91% over the forecast period
Hydrogen is created through a variety of processes and resources. For example, the thermochemical method requires the use of fossil fuels to release hydrogen, whereas other systems split water into hydrogen and oxygen using electrolysis or solar energy. At the moment, new bacteria and algae-based technologies are being introduced that are also cost-effective, efficient, and environmentally friendly. The market for hydrogen generation is currently expanding in the refining of petroleum, metal treatment, fertilizer production, and food processing. Furthermore, it is gaining popularity as a fuel in electric vehicles (EVs) all over the world.
Hydrogen Generation Market Report Scope and Research Methodology:
The Hydrogen Generation market report provides a qualitative and quantitative analysis of market development determinants, limitations, opportunities, and issues. The Hydrogen Generation market research was carried out by segmenting the market into main segments and then further sub-segments. The report provides a regional analysis of the market, including market dynamics and Hydrogen Generation market size. SMR's research on the Hydrogen Generation industry employs both primary and secondary research methods, lending credibility to the report. The bottom-up approach was used to estimate the and regional Hydrogen Generation market size. The SMR report is the result of a study that included methodologies such as the PESTLE, PORTER, and SWOT analyses. These models were used in the study to shed light on the key financial considerations that Hydrogen Generation market players must consider when developing marketing strategies for both consumer and industrial markets.
Hydrogen Generation Market Report Overview:
The study is based on major organization forecasts as well as market statistics. Hydrogen Generation Market research includes a detailed analysis at the regional and country market levels, as well as a competitive scenario for the forecast period and individual firm valuations. The Hydrogen Generation market report provides information on the growth variables, current market share, technological developments, applications, and regional penetrations by 2027.
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Hydrogen Generation Market Key Players:
Air Liquide (France)
Messer Group (Germany)
Nuvera Fuel Cells (US)
Xebec (Canada)
Ballard Power Systems (Canada)
Plug Power (US)
Air Products and Chemicals (US)
Teledyne Energy Systems (US)
Showa Denko (Japan)
Nippon Sanso (Japan)
Hydrogenics (Canada)
Ally Hi-Tech (China)
Cummins (US)
Linde (Germany)
Iwatani (Japan)
Engie (France)
ITM Power (UK)
NEL Hydrogen (Norway)
Fuel Cell Energy (US)
Taiyo Nippon (Japan)
Xebec (Canada)
Uniper (Germany)
McPhy Energy (France)
Enapter (Germany)
Starfire Energy (US)
Claind (Italy)
Plug Power (US)
Hydrogen Generation Market Dynamics:
The introduction of numerous laws aimed at encouraging the use of clean fuels, as well as increased spending in the refining sector, is expected to improve the market environment. The implementation of various incentive programs aimed at reducing the amount of sulfur content in diesel fuel, gasoline, and motor oil aids in the growth of the hydrogen generation market demand during the forecast period.
Hydrogen Generation Market Segmentation:
According to the source, the Hydrogen Generation Market is divided into three categories: blue hydrogen, green hydrogen, and grey hydrogen. In 2020, the Blue Hydrogen segment held 53.8% of the market. Blue hydrogen is produced from natural gas using steam methane reforming. It combines natural gas with extremely hot steam in the presence of a catalyst, resulting in a chemical reaction that produces hydrogen and carbon monoxide. When more water is added to the mixture, the carbon monoxide is converted to carbon dioxide, resulting in the production of more hydrogen. Using carbon capture, utilization, and storage technology, carbon dioxide emissions are absorbed and stored underground.
The Hydrogen Generation Market is divided into two segments based on delivery mode: captive and merchant. In 2020, the Merchant segment held 61.3% of the market. Merchant generation refers to hydrogen that is produced centrally and then transported and sold to customers via bulk tank, cylinder truck, or pipeline. Many countries, including the United States, Canada, and Russia, already have extensive natural gas pipeline networks that could be used to transport and distribute hydrogen. New infrastructure is being built in the developing economies of the Asia Pacific region, with dedicated pipeline and shipping networks potentially allowing large-scale foreign hydrogen transit.
During the forecast period, the captive segment is expected to grow at the fastest CAGR of 8.7%. Because of its ease of use, this technology has widespread adoption in socioeconomically developing regions, particularly North America and Europe. The market for captive hydrogen generation, defined as on-site generation that eliminates various challenges associated with hydrogen conveyance and distribution, is expected to grow significantly. On-site hydrogen generation has grown in popularity in small-scale businesses as new technologies have become more affordable when compared to delivered distribution channels.
Hydrogen Generation Market Regional Analysis
The Hydrogen Generation market report examines all regions, including Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The primary geographic condition with segments and sub-segments analysis was provided in the report during the research. The report describes the current state of the regional market in terms of market size, share, and volume.
Key Questions answered in the Hydrogen Generation Market Report are:
Key offerings:
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Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business.
Hydrogen Generation Market , Hydrogen Generation Market Size , Hydrogen Generation Market Share , Hydrogen Generation Market Growth , Hydrogen Generation Market Trends
Mar 21, 2023
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