Global Hydrogen Generation market is projected to experience significant growth of 8.9% during the next decade owing to increasing use of fuel cells in power generation, favorable government regulations aimed at reducing emissions, desulphurization of refinery activities and advancements in hydrogen generation technologies – According to a ChemView Consulting Analyst
According to ChemView Consulting, the global Hydrogen Generation market is expected to reach US$ 138.6 Billion in 2022, with a steady long-term forecast. The Hydrogen Generation market has grown by 5-6% over the last five years. According to the research, the global Hydrogen Generation market is expected to increase by roughly 8.9% between 2022 and 2030. The study delves into 20+ high-growing areas, offering specific insights into how Hydrogen Generation growth may change over the coming decade.
Global Hydrogen Generation Market 2022-2030: Report Key Highlights
- CAGR of the market during the forecast period 2022-2030
- Detailed information on factors that will assist Hydrogen Generation market growth during the next ten years
- Assessment of the historical and current Hydrogen Generation market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behaviour
- The growth of the Hydrogen Generation market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
- Strategic intelligence of the market’s competitive landscape and detailed information on vendors
- Key success factors and recommendations to drive the stakeholder’s growth in the Hydrogen Generation market and gain competitive advantage
- Primary insights to understand what will shape the market growth over the next decade
For More Details Visit Our Report Page: https://chemviewconsulting.com/reports/hydrogen-generation-market/
Key Takeaways, By System: Based on the system, the market is split into captive and merchant. Because it can manufacture hydrogen using both water electrolysis and natural gas methods, the merchant segment is predicted to develop significantly in the market. This eliminates the demand for fuel transportation and infrastructure to produce hydrogen.
Key Takeaways, By Technology: Based on technology, the market is categorized into steam methane reforming, partial oxidation of oil, coal gasification, electrolysis of water, and others. Because of the accompanying benefits such as affordability, generation of hydrogen from conventional sources, and high conversion efficiency, because it is a sophisticated technology, the steam methane reforming sector is expected to dominate the market during the forecast period.
Key Takeaways, By Region: Regionally, the hydrogen generation market has been segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. Among these regions, North America is expected to dominate the overall hydrogen generation market region’s rising environmental concerns. Furthermore, the United States is one of the world’s early adopters of sustainable energy solutions in industries such as electricity generation, manufacturing, and transportation.
Key Market Players and Competition Summary: To be competitive in the market, major corporations are inventing sophisticated technology and producing new items. Mergers and acquisitions, as well as new product creation, are other competitive strategies.
The strategies undertaken by them include partnerships, joint ventures, acquisitions, and expansions. For example, in In 2021, Cummins and Air Liquide have formed a joint venture to promote green hydrogen technology. Cummins has donated a 20-megawatt PEM electrolyzer system for green hydrogen generation, making it the world’s biggest in operation. The electrolyzer is located in Air Liquide’s hydrogen production facility in Bécancour, Quebec, and is capable of producing approximately 3,000 tonnes of hydrogen per year using clean hydropower.
Key companies covered in the market study: Air Liquide, Air Products and Chemicals, Iwatani, Hydrogenics, Linde, Praxair, Messer Group, Showa Denko, Ally Hi Tech, Caloric, Cummins, NEL Hydrogen, ITM Power, Green Hydrogen Systems, and Electrochaea.
Global Hydrogen Generation Market 2022-2030: Segmentation
By System:
- Captive
- Merchant
By Technology:
- Steam Methane Reforming
- Partial Oxidation of Oil
- Coal Gasification
- Electrolysis of Water
- Others
By Storage:
- On-Board
- Underground
- Power-to-Gas
By Application:
- Petroleum Refinery
- Ammonia Production
- Methanol Production
- Power Generation
- Transportation
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
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