The global hydrogen generation market is projected to reach USD 263.5 Billion by 2027, at a CAGR of 10.5% between 2022 to 2027. The factors driving the growth for hydrogen generation market is Increasing hydrogen demand in the petroleum refineries and rising demand for hydrogen in transportation and power generation applications.
The Hydrogen Generation Market has been gaining momentum in recent years as a growing number of countries and industries look to shift towards more sustainable and clean sources of energy. Hydrogen is seen as a promising alternative to fossil fuels, as it produces only water when burned, making it a clean source of energy with no carbon emissions.
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The global hydrogen generation market is dominated by a few globally established players such as Siemens (Germany), Linde plc (Ireland), ENGIE (France), Air Liquide (France), and Air Products Inc. (US). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their presence in the global market.
Hydrogen Generation Market Report Segmentation
This research report categorizes the hydrogen generation market by state, technologies, application, end-user, region.
On the basis of by source:
- Blue Hydrogen
- Gray Hydrogen
- Green Hydrogen
On the basis of by technologies:
- Steam methane reformin (SMR)
- Partial Oxidation (POX)
- Coal gasification
- Electrolysis
On the basis of by application:
- Petroleum refinery
- Ammonia production
- Methanol production
- Transportation
- Power generation
On the basis of by generation and delivery mode:
- Captive
- Merchant
On the basis of region:
- Europe
- Asia pacific
- North America
- South America
- Middle east
- Africa
Asia Pacific is expected to dominate the global hydrogen generation market
The Asia Pacific is estimated to be the largest market for the hydrogen generation market in 2022. The growth of the Asia Pacific market is expected to be driven by increase in fuel cell based electric vehicles and hydrogen based economy. China held the largest share of the Asia Pacific hydrogen generation market. The country is witnessing an increase in demand for hydrogen from refineries and fuel cell vehicles, which is expected to propel market growth.
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Objectives of the Study
- To forecast and describe the hydrogen generation market size, by source, technologies, application, generationa and delivery mode, and region, in terms of value
- To provide detailed information regarding the major drivers, restraints, opportunities, and challenges influencing the growth of the market
- To estimate the size of the market in terms of value
- To strategically analyze micromarkets with respect to individual growth trends, prospects, future expansions, and contributions to the overall market
- To forecast the growth of the hydrogen generation market with respect to six major regions, namely, North America, Europe, Asia Pacific, South America, the Middle East and Africa.
- To analyze market opportunities for stakeholders and the competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their respective market shares and core competencies
- To analyze competitive developments such as investments & expansions, mergers & acquisitions, product launches, contracts & agreements, and joint ventures & collaborations in the hydrogen generation market
