Global Hydrogen Generation Market to Grow at a CAGR of 9.3% During 2024-2032, Aided by the Increasing Demand for Clean Fuels to Support Decarbonisation

The demand for clean and green fuels is expected to witness a rapid growth in the coming years, with increasing levels of pollution in line with the increasing stringency of government regulations to control and restrict sulphur content in fuels. This factor is expected to drive the market growth in the forecast period. Moreover, increased hydrogen consumption in various industries is expected to be a major driving force. Hydrogen can be produced from different resources such as natural gas, biomass, coal, and other renewable and non-renewable energy sources. Currently, natural gas is a major source of hydrogen production and steam methane reformers using natural gas are widely used in the production method. However, in recent years, the adoption of new technologies such as electrolytic production and pyrolysis has increased. In addition, the increasing stringency of government regulations for desulphurisation is likely to propel the market growth over the forecast period.

Some of the key industrial developments have shown the potential to become important factors in determining the progress of the market in the coming years. For instance, in February 2019, Praxair Inc. (NYSE: PX), a subsidiary of Linde plc, got selected to construct a world-scale hydrogen plant in Louisiana. The order comprises the balance of the core plant, the pressure swing adsorption unit, and the steam-methane reformer. In another case, in May 2018, Southern California Gas Co. (OTCMKTS: SOCGP) announced the introduction of a new solar-powered hydrogen generation system. This system makes the use of sunlight to convert natural gas and water into hydrogen while capturing carbon dioxide to decrease carbon emissions.

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Market Analysis by Source, Technology, System Type, Application, and Region:

• By source, the market is segmented into blue hydrogen, green hydrogen, and grey hydrogen.

• The market on the basis of technology can be divided into steam methane reforming, coal gasification, partial oxidation of oil, electrolysis of water, and others.

• On the basis of system type, the industry can be divided into merchant and captive.

• The industry is segmented based on application into methanol production, petroleum refinery, ammonia production, power generation, transportation, and others.

• The regional markets for hydrogen generation include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising demand for on-board hydrogen storage is expected to aid the market growth.

• The growing emphasis on decarbonisation is expected to significantly contribute to the market expansion.

• The increasing funding for research and development activities to explore the potential applications of clean energy is anticipated to have a positive impact on the industry growth.

• The Asia Pacific is expected to provide the industry with immense growth opportunities in the forecast period.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for hydrogen generation for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the sources, technologies, system types, applications, and regions of hydrogen generation.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global hydrogen generation market are Ally Hi-Tech Co., Ltd., Caloric Anlagenbau GmbH, Linde AG, FuelCell Energy, Inc., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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