Hydrogen Generation Market Outlook
According to ChemView Consulting’s survey, the global Hydrogen Generation market accounted for US$ 150.9 Bn in 2022 and is predicted to increase at a CAGR of 8.9% between 2022 and 2030. The market is expanding due to the increasing use of fuel cells in power generation. Furthermore, market development is likely to be fuelled by favourable government regulations aimed at reducing emissions and desulphurization of refinery activities. Considering this, ChemView Consulting has projected the global market to reach US$ 298.5 Bn in 2030.
| Estimated Year Value (2022) |
US$ 150.9 Bn |
| Projected Year Value (2030) |
US$ 298.5 Bn |
| Global Market Growth Rate (2022-2030) |
8.9% |
| Market Share of the Largest Region: Asia Pacific |
42% |
| Top 5 players in Hydrogen Generation Market |
Linde, Air Liquide, Air Products & Chemicals, Uniper, and Engie |
Key Market Insights
- By 2050, demand for green hydrogen will have multiplied several times due to lower technology costs and the rising need to decarbonize the energy system, resulting in increased use in transportation, industry, and electricity.
- Depending on global climate goals and the expansion of sector-specific activities, energy-efficiency measures, direct electrification, and the deployment of carbon-capture technologies, hydrogen consumption by 2050 might range from 150 to 500 million metric tonnes per year.
- The merchant market is likely to be driven by increased large-scale hydrogen generation using water electrolysis and natural gas processes. Both water electrolysis and natural gas methods can yield merchant hydrogen. This strategy eliminates the demand for fuel transportation and, as a result, the requirement for additional hydrogen-producing infrastructure to be built.
- In the future years, the market for hydrogen generation is projected to be driven by the rapid growth in demand for Fuel Cell Electric Vehicles (FCEV) in the Asia Pacific. Hydrogen is used in a variety of types of transportation, including buses, trains, and fuel cell electric vehicles (FCEV) (including marine, airplane, and drones).
Market Dynamics: Drivers, Opportunities and Trends Analysis
The market is being driven by government rules for desulfurization and greenhouse gas emissions. The United States, the European Union, Russia, and China are responsible for 65% of world emissions. The United States alone accounts for 25% of them. Sulfur obstructs the efficient operation of certain catalysts, resulting in increased methane emissions from oxidation catalysts and higher carbon dioxide emissions from more sophisticated technology. Sulfur also stifles the development of emission-control technology in a number of areas, including fuel-efficient gasoline engine designs, classic diesel as a fuel-efficient alternative, and advanced or hybrid diesel.
Green hydrogen and other carbon-neutral synthetic fuels might eventually replace gasoline as a transportation fuel and natural gas as a power production fuel. Hydrogen and synthetic fuels produced by Power-to-X are critical components in achieving a 100% renewable energy future. Key parties are concentrating on long-term planning in order to determine the best strategy to create future energy infrastructure and power production technology.
Market Segmental Analysis: By System, Technology, Storage, Application, By Region
- 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.
- 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.
- 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.
Competition Assessment
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.
Some of the key players present in the global Hydrogen Generation market are:
- 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
- Electrochaea
Key Developments in Hydrogen Generation Market
| 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. |
In 2020, ENGIE worked with Neste and CEA, a French research agency, to use renewable hydrogen to decarbonize a bio-refinery in Rotterdam. To manufacture green hydrogen, the project employs the world’s first multi-megawatt high-temperature electrolyzer. |
| In 2020, a strategic partnership agreement was inked by Air Products and ThyssenKrupp Uhde Chlorine Engineers (SCA). The two businesses will work together exclusively in important locations to build green hydrogen projects, using their complementary technical, engineering, and project execution skills. |
In 2019, Hydrogenics was acquired by Air Liquide in order to build Canada’s biggest PEM electrolyzer, with a capacity of 20 megawatts (MW) for the generation of low-carbon hydrogen (the facility will use hydropower). This 20 MW electrolyzer would double the current capacity of the company’s hydrogen facility in Bécancour, Québec. |
Segments Covered in Report
By System:
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)
Global Hydrogen Generation Market 2022-2030: Report Coverage and Highlights
- Assessment of the historical and current Hydrogen Generation market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
- Key drivers and restraints impacting market growth
- Predictions on Critical Supply, Demand, and Technological trends and changes in consumer behaviour
- Market Opportunity Analysis
- Value Chain Analysis (List of Manufacturers, Distributors, Average Margins, etc.)
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping, Benchmarking, and Advantage Analysis
- Market Share Analysis and Key Strategies Adopted by Top Players
- Key Product Innovations and Regulatory Climate
- Primary insights to understand what will shape the market growth over the next decade
- COVID-19 Impact on Hydrogen generation Market and How to Navigate
- Strategic Success Factors and Recommendation on Key Winning Strategies
| Research Scope |
Details |
| Forecast Period |
2022-2030 |
| Historical Data Available for |
2017-2021 |
| Market Analysis |
USD Million for Value and Kilo Tons for Volume, and CAGR from 2022 to 2030 |
| Key Regions Covered |
North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa |
| Key Countries Covered |
US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt |
| Key Segments Covered |
System, Technology, Storage, Application |
| Customization scope |
Available upon Request |
| Pricing and purchase options |
Available upon Request |
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and consulting company serving chemicals & materials, oil & gas, and alternate energy clients worldwide. ChemView Consulting serves clients in approximately 100 countries, with its office in the US and delivery centers in India.
What sets ChemView Consulting apart?
- Full-time research experts and subject matter experts
- In-house primary research team
- The in-house data visualization team
- Industry-wide network of research partners
- Database subscriptions
- The exclusively tailored research process
- Report Includes
Market Size Data
- Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
- Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
- Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
- Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
- Incremental dollar opportunity generated in the forecast period would be indicated
- Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted
Market Background
- Macroeconomic factors that impact the market developments
- Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
- Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
- Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
- Trade analysis and analysis of key supply and demand hubs
- Identification of hotbed opportunities existing in the market
- Porter’s and PEST analysis to understand the business environment of the geography
- Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth
Pricing Analysis
- Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
- Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
- Cost teardown analysis and key factors impacting pricing
Value Chain Analysis
- Country-wise list of raw material suppliers
- Raw material price trends and buyers’ sentiment
- Overview of Intelligent Sourcing Technique
- Raw material procurement requirements
- Vendor selection criteria
- Country-wise list of product manufacturers
- Country-wise list of distributors/traders
- Country-wise list of end-users
- End-Users/Customers consumption mapping
- Key End-Users/Customers client list
- Country-wise list of other key channel partners
- Average profitability margins
- Regional value chain dynamics
Competition Analysis
- Market shares and production capacities of key players
- Tier structure analysis of market
- Comprehensive competition dashboard representing the top 10-15 players in the market
- Individual company profiles of top 15 to 20 manufacturers
- Business Overview
- Product Portfolio
- Key Financials
- Recent Developments
- SWOT Analysis
- Strategies
Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
- Specialized market research company
- Impeccable and deep industry expertise
- Wide range of offerings
- Robust research methodology and statistical models with least deviation
- Extensive reports and full-service consulting
- Expert panel sanctioned industry outlook
- Growth dynamics for calculated investments
- Tri-level quality guarantee
- 6 months unlimited post-sales support
- Regular planned and contracted report updates
Frequently Asked Questions
Global Hydrogen generation market to grow at 8.9% CAGR during the forecast period 2022-2030.
In 2021, the Asia-Pacific market is estimated to be US$ 50 Bn.
Growing environmental concerns, increased demand for fuel cell vehicles, and increased adoption of renewable energy generation technologies are some of the major factors driving market growth.
