Hydrogen Generation Market Is Extrapolated To Reach A Value Of USD 317.39 Billion By 2030

Hydrogen Generation Industry Overview

The global hydrogen generation market size was estimated at USD 170.14 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2024 to 2030. Demand for cleaner fuel and increasing government regulations for desulphurization of petroleum products. Hydrogen is an effective energy carrier, and this attribute is expected to contribute significantly to its further penetration into newer markets. Global electricity demand is anticipated to witness an increase of nearly two-thirds of current demand over the forecast period. Focus on projects related to distributed power & utility is anticipated to bolster industry’s growth.

Gather more insights about the market drivers, restrains and growth of the Hydrogen Generation Market

 

U.S. is among the early adopters of clean energy solutions in world for sectors such as power generation, manufacturing, and transportation. The U.S. Department of Energy (DOE) and Department of Transportation (DOT) introduced a Hydrogen Posture Plan in December 2006. This plan was aimed at enhancing research and development (R&D) and validating technologies that can be employed for setting up hydrogen infrastructure.

This plan provided deliverables set by the Federal government to support development of hydrogen infrastructure in the country. It was developed following the National Hydrogen Energy Vision and Roadmap. Development and construction of cost-effective and energy-saving hydrogen stations across the country are among key objectives planned by government agencies. All these factors are expected to propel hydrogen generation demand in the U.S.

German Ministry of Transport took an initiative in June 2012 to establish a countrywide hydrogen network and boost hydrogen infrastructure for hydrogen refueling stations. As a part of this initiative, the ministry signed a letter of intent (LoI) with industry players such as Total; The Linde Group; Air Products and Chemicals, Inc.; Daimler AG; and Air Liquide. Under its terms, these industry players were given a target to construct at least 50 hydrogen fueling stations by 2015 in metropolitan cities and major corridors in Germany.

 

Browse through Grand View Research’s Sustainable Energy Industry Research Reports.

 

• The global voluntary carbon credit market size was estimated at USD 2.97 billion in 2023 and is projected to grow at a CAGR of 34.6% from 2024 to 2030. The market growth is driven by companies pledging to achieve net-zero emissions and the need for offsets to compensate for emissions that cannot be fully eliminated.

• The global energy storage as a service market size was valued at USD 1.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.7% from 2021 to 2028. The market is expected to be driven by the increasing demand for power management services and cost-effective battery backup power in case of a power outage.

Hydrogen Generation Market Segmentation

Hydrogen Generation Technology Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 – 2030)

• Steam Methane Reforming
• Coal Gasification
• Others

 

Hydrogen Generation Application Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 – 2030)

• Methanol production
• Ammonia Production
• Petroleum Refining
• Transportation
• Power Generation
• Others

Hydrogen Generation System Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 – 2030)

• Captive
• Merchant

Hydrogen Generation Source Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 – 2030)

• Natural Gas
• Coal
• Biomass
• Water

Hydrogen Generation Regional Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 – 2030)

• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o Russia
o UK
o France
o Spain
o Italy
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
• Central & South America
o Brazil
o Colombia
o Paraguay
• Middle East & Africa
o Saudi Arabia
o U.A.E
o South Africa
o Egypt

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Key Companies profiled:

• 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.