The global hydrogen generation market accounted for a value of USD 110.0 billion in 2019. Hydrogen generation market projected to register growth at a CAGR of 3.1% during forecast period.
COVID-19 has impacted all the businesses over the globe. The hydrogen generation market has witness a significant decline in growth rate due to outbreak of corona virus. The supply chain of raw materials of ender user segment got disrupted due to travel restriction and lockdown across many countries of the world. The market is estimated to recover post and all the halted projects will resume.
For more details, visit: Global Hydrogen Generation Market By Technology(Stream Methane Reforming, Partial Oxidation of Oil, others), By Application (Power Generation, Transportation, Others), By Generation and Delivery Mode , By Region–Forecast & Opportunities to 2026
Decarbonization is the major challenge faced by various public firms and governments. The concern has risen for green energy technology like hydrogen related products. Hydrogen reduces dependence on fuel in long term. Hydrogen is considered as clean energy reduces carbon intensity. This drives growth in hydrogen generation market during forecast period.
On the basis of technology, the hydrogen generation market is segmented into stream methane reforming, partial oxidation of oil, electrolysis of water and coal gasification. The steam reforming segment is estimated to hold highest market share during forecast period. Steam reforming is considered asmature and advance technology used for production of hydrogen. It uses high temperature steam for producing hydrogen from conventional sources. Major oil & gas refinery plants used steam reforming for hydrogen generation. The adoption and demand for this technology is increasing and it drives growth in this segment during forecast period.
On the basis of generation & delivery mode, the hydrogen generation market is segmented into captive and merchant. The merchant segment is estimated to register growth at highest CAGR during forecast period. Merchant-based hydrogen can be generated by natural gas and water electrolysis processes. This method helps in reducing need of fuel for transportation. This drives growth in merchant based hydrogen generation method during forecast period.
On the basis of application, the hydrogen generation market is segmented into petroleum refinery, ammonia production, methanol production, power generation, transportation and others. The transportation segment is estimated to register growth at highest CAGR during forecast. The sales of fuel cell vehicle are rising in various regions across the globe. Various countries such as South Korea, China and Japan etc. have proposed implementation of fuel cell vehicles to reduce dependency on gasoline imports. This drives growth in this segment during forecast period.
Asia-Pacific region is estimated to hold largest market share during forecast period. The refinery operations are increasing in various countries of this region to meet fuel demand. China is investing around 290 million for building hydrogen city which will promote research and development of fuel cell vehicles. Japan has planned to have 100 fuel cell buses and 6000 fuel cell cars in the country by 2020. The rise in adoption of hydrogen fuel cell vehicles and rise in refinery operation is likely to drive growth in Asia-pacific region during forecast period.
The key market players in hydrogen generation market are Erredue, Claind, Caloric, Ballard Power Systems, Ally Hi-Tech, Xebec, Showa Denko, Praxair, Plug Power, messer Group, Linde, Iwatani, Hydrogenics, Fuel Cell Energy, Air Products & Chemicals and Air Liquide.
- What are the expected industry trends over the next three to five years?
- Which of the hydrogen generation technology is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?