Hydrogen Generation Market Size, Share, and Trends Analysis Report
CAGR :
| Market Size 2023 (Base Year) | USD 147.79 Billion |
| Market Size 2032 (Forecast Year) | USD 269.43 Billion |
| CAGR | 6.90% |
| Forecast Period | 2024 - 2032 |
| Historical Period | 2018 - 2023 |
According to the report published by Market Research Store, the global Hydrogen Generation Market size was valued at USD 147.79 B in 2023 and is predicted to reach USD 269.43 Billion by the end of 2032. The market is expected to grow with a CAGR of 6.90% during the forecast period. The report analyzes the global Hydrogen Generation Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Hydrogen Generation Market industry.
Global Hydrogen Generation Market: Overview
Hydrogen is a chemical element found on the earth, which is clean, efficient, and most versatile in nature with zero emission carrier of energy. It is not present in its molecular form but is available in plenty amounts. It is nonmetallic, colorless, non-toxic, odorless, highly combustible and tasteless diatomic gas.
Water is the primary raw material used in the production process of hydrogen generation, which is a very environment-compatible process. It is the most renewable fuel that can be manufactured and transformed into electricity. It can be stored in various forms such as metal hydrides, gaseous, and liquid. It can transform into other energy forms via chemical conversions, catalytic combustion, and hydriding.
Hydrogen possesses easy transportation, high efficiency, low boiling point and lightweight making it ideal for industrial use. It is an environment-friendly fuel as it produces pollution-free combustion products.
Global Hydrogen Generation Market: Growth Factors
Rising demand for cleaner fuels is a key factor for the growth of the global market. The decrease in quality of crudes and growth & development in the transportation sector are others factors responsible for the global market growth in future. Stringent regulations are implemented to avoid desulfurization problems while transportation may boost the global hydrogen generation market growth. Demand for distillate fuels and resulting development of the hydrogen fuel cell are anticipated to foster the global market growth in coming years.
However, reduced quality of crude increased the importance of hydrogen for processing purposes; this is positively enhancing the global market. Hydrogen is highly flammable in nature; hence, it requires high safety during transportation and absence of appropriate transportation networks causes an increase in transportation costs; this is a major restraining factor of the global hydrogen generation market.
Hydrogen Generation Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | Hydrogen Generation Market |
| Market Size in 2023 | USD 147.79 Billion |
| USD 269.43 Billion | |
| Growth Rate | CAGR of 6.90% |
| Number of Pages | 213 |
| Key Companies Covered | Iwatani Corporation, Nuvera Fuel Cells LLC, Caloric Anlagenbau GmbH, Airgas Inc., Alumifuel Power Corporation., Hydrogenics Corp., Air Products & Chemicals Inc., Linde AG, Air Liquide SA, Praxair Inc., and others. |
| Segments Covered | By Applications, By Product, By Battery Type , and By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 to 2022 |
| Forecast Year | 2024 - 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Global Hydrogen Generation Market: Segmentation
The global hydrogen generation market is classified based on generation & delivery mode as gaseous production, merchant production, by-product production, liquid production, and captive production.
Based on production, the global market is categorized as polymer electrolyte membrane, steam reforming of hydrocarbons, dissociation of hydrocarbons, water, fossil fuels, high temperature, electrolysis, alkaline, and others.
Moreover, on the basis of end-user the global hydrogen generation market is divided as ammonia production, petroleum refining & recovery, methanol production, chemical processing, automotive fuels, and others.
Global Hydrogen Generation Market: Regional Analysis
Asia Pacific is the dominating region across the world as it occupies a major share of hydrogen generation market owing to higher demand for hydrogen in ammonia manufacturing plants and petroleum refineries. In addition, this region is experiencing higher demand for petroleum products from refineries and promising economics, which in turn may boost the global hydrogen generation market.
The US is expected to witness significant growth in the near future due to harsh motor vehicle emission guideline. Moreover, growth in the demand for ammonia used as feedstock for urea may influence the global market in a positive way.
Global Hydrogen Generation Market: Competitive Players
Key players in the global hydrogen generation market are:
- Iwatani Corporation
- Nuvera Fuel Cells, LLC
- Caloric Anlagenbau GmbH
- Airgas Inc.
- Alumifuel Power Corporation.
Other major players in the global market include
- Hydrogenics Corp.
- Air Products & Chemicals Inc.
- Linde AG
- Air Liquide SA
- Praxair Inc.
The Global Wireline Services Market is segmented as follows:
By Applications
- portable media devices
- smartphones
- tablets
- and others
By Product
- phone charging cases
- portable power banks
- solar power banks
By Battery Type
- lithium-polymer
- lithium-ion
Global Hydrogen Generation Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
What Report Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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