What are the growth opportunities and trend analysis of Hydrogen Generation Market?

Posted on 2022-07-06 by researchinsights in Energy // 0 Comments

San Francisco, California , USA, July 06, 2022 — /EPR Network/ —

Hydrogen Generation Industry Overview

The global hydrogen generation market size is expected to reach USD 225.55 billion by 2030, registering a CAGR of 6.4% during the forecast period, according to a new report by Grand View Research, Inc. The global hydrogen generation market is likely to be driven by the growing demand for cleaner fuel, coupled with increasing governmental regulations for the desulphurization of petroleum products.

Hydrogen is an effective energy carrier, and this quality is expected to contribute, significantly, to its further penetration into newer markets. The global electricity demand is anticipated to witness an increase by nearly two-thirds of the current demand in the forecast period. Focus on the projects, related to distributed power & utility, expected to bolster the demand for hydrogen generation market growth during the forecast period.

The Methane Reforming segment led the market in 2021. This was the dominant segment in 2021 and is expected to keep its position during the forecast period. Steam Methane reforming is a method for producing hydrogen, along with other gases including carbon monoxide and carbon dioxide. The steam methane reforming process is a mature and advanced technology in hydrogen generation. The growing demand for hydrogen generation across the globe is a crucial driving factor for steam methane reformers technology, as steam methane reforming is the most economical method for hydrogen generation.

Hydrogen Generation Market Segmentation

Grand View Research has segmented the global hydrogen generation market based on technology, application, systems, source, and region:

Based on the Technology Insights, the market is segmented into Steam Methane Reforming, Coal Gasification and Others.

The steam methane reforming process is a mature and advanced technology in hydrogen generation. The growing demand for hydrogen generation across the globe is a crucial driving factor for steam methane reformers technology, as steam methane reforming is the most economical method for hydrogen generation.
Coal Gasification held a share of 34.58% in the global Hydrogen Generation Market in 2021. Coal gasification which uses coal as a raw material for producing hydrogen has been in practice for nearly two centuries, moreover, it is also recognized as a mature technology for hydrogen generation.

Based on the Application Insights, the market is segmented into Methanol Production, Ammonia Production, Petroleum Refining, Transportation, Power Generation and Others.

Ammonia production segment led the market and accounted for the largest revenue share of more than 20.28% in 2021. The ammonia production segment will maintain its lead throughout the forecast period.
Hydrogen-based power generation technology has comfortably positioned itself in mature markets, such as North America and Europe, where clean yet effective energy is one of the primary aspects. Hydrogen-based power generation, which is cost-effective and a reliable source of power generation, are generating optimistic demands.

Based on the Systems Insights, the market is segmented into Captive and Merchant.

Merchant generation segment led the market in 2021. Merchant generation of hydrogen means hydrogen is produced at a central production facility and is transported and sold to a consumer by bulk tank, pipeline or cylinder truck.

Based on the Source Insights, the market is segmented into Natural Gas, Coal, Biomass and Water.

Natural gas segment led the market in 2021. Hydrogen is produced from natural gas reforming which produces hydrogen, carbon monoxide, and carbon dioxide. Hydrogen production from natural gas is the cheapest method of producing hydrogen. It is expected to keep its lead during the forecast period.

Hydrogen Generation Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)

Key Companies Profile

The hydrogen generation market is competitive with key participants involved in R&D and constant innovation done by the vendors. It has become one of the most important factors for companies to perform in this industry.

Some prominent players in the global Hydrogen Generation market include

Air Liquide International S.A
Air Products and Chemicals, Inc
Hydrogenics Corporation
INOX Air Products Ltd.
Iwatani Corporation
Linde Plc
Matheson Tri-Gas, Inc.
Messer
SOL Group
Tokyo Gas Chemicals Co., Ltd.

Order a free sample PDF of the Hydrogen Generation Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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