The Global Hydrogen Generation Market Size is valued at 165.36 billion in 2022 and is predicted to reach 366.49 billion by the year 2031 at a 9.46% CAGR during the forecast period for 2023-2031.
The need for cleaner fuel and the expansion of regulatory rules requiring the desulfurization of petroleum products is projected to be the global hydrogen generation market's primary drivers. Since hydrogen is a powerful energy transporter, its continued expansion into additional markets is anticipated to benefit significantly from this property.
Throughout the projected period, an increase in the worldwide electricity consumption of about two-thirds of the current demand is anticipated. Pay attention to the distributed power & utility projects that are anticipated to boost the need for the expansion of the hydrogen generation industry throughout the forecast period.
In order to create a nationwide hydrogen network and improve the hydrogen infrastructure for hydrogen filling stations, the German Ministry of Transport launched an effort in June 2012. The Ministry marked a letter of intent (LoI) with industry participants like Total, The Linde Group, Air Products and Chemicals, Inc., Daimler AG, and Air Liquide as part of this project. According to the agreement, these industry participants will build at least 50 hydrogen refueling stations in Germany's major towns and highways by 2015.
Recent Developments:
- In August 2022, A green hydrogen plant was put into operation by Larsen & Toubro (L&T) at its AM Naik Heavy Engineering Complex in Hazira, Gujarat, India. The facility would probably produce 45 kg of green hydrogen every day, which will be used exclusively in the company's Hazira manufacturing site for captive consumption.
Competitive Landscape:
List of Prominent Players in the Hydrogen Generation Market:
- Linde plc,
- Air Liquide,
- Cummins Inc.,
- Air Products Inc.,
- Uniper SE,
- Engie,
- Siemens,
- Nel ASA,
- ITM Power,
- Iberdola,
- McPhy Energy S.A.,
- Messer,
- Enapter S.r.l.,
- Orsted A/S,
- Xebec Adsorption Inc.,
- Grren Hydrogen,
- Plug Power Inc.,
- Atawey,
- Hiringa Energy Limited
Market Segmentation:
The Hydrogen Generation market is segmented on the basis of source, technology, application, and generation. Based on source, the market is segmented as blue, grey, and green hydrogen. The technologies segment includes SMR, POX, coal gasification, and electrolysis. By application, the market is segmented into petroleum refinery, ammonia production, methanol production, transportation, and power generation. The generation segment includes captive, and merchant.
Based On Application, The Ammonia Production Segment Is Accounted As A Major Contributor To The Hydrogen Generation Market
Throughout the forecast period, the ammonia production segment will continue to be in the lead. Ammonia's potential as a carbon-free fuel, hydrogen carrier, and energy reservoir gives a chance to expand renewable hydrogen technology. With ammonia facilities, hydrogen is often produced on-site from a feedstock of fossil fuels. Natural gas is the most broadly used feedstock for steam methane reforming (SMR) plants. Ammonia can also be made from coal using a partial oxidation (POX) method.
Merchant Generation Segment Witnessed Growth At A Rapid Rate
Using a bulk tank, pipeline, or cylinder truck to transport and sell hydrogen to a customer is referred to as merchant generation of hydrogen. Substantial natural gas pipeline networks might be utilized to transport and distribute hydrogen in several nations, including the U.S., Canada, and Russia. Throughout the forecast period, the merchant-generating category is anticipated to maintain its lead.
In The Region, The North America Hydrogen Generation Market Holds A Significant Revenue Share
The Asia-Pacific region controlled the entire global market. China was the largest country in the Asia-Pacific region in terms of revenue in 2021. In the Asia-Pacific area, the usage of hydrogen production has expanded due to the presence of more refineries in major nations such as China and India. Certain Asia-Pacific countries, such as Australia and Japan, are also studying greener, cleaner ways of hydrogen production. Hydrogen producers in the region intend to expand their geographic reach and concentrate on emerging nations such as South Africa, Vietnam, and Indonesia in order to improve their income. As part of their expansion objectives, U.S.-based major companies such as Praxair Inc. and Air Liquide intend to expand their operations in nations with a growing demand for hydrogen.
Hydrogen Generation Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 165.36 Bn |
|
Revenue forecast in 2031 |
USD 366.49 Bn |
|
Growth rate CAGR |
CAGR of 9.46 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, Volume (Tons), and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Source, Technology, Application, And Generation. |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Linde plc, Air Liquide, Cummins Inc., Air Products Inc., Uniper SE, Engie, Siemens, Nel ASA, ITM Power, Iberdola, McPhy Energy S.A., Messer, Enapter S.r.l., Orsted A/S, Xebec Adsorption Inc., Grren Hydrogen, Plug Power Inc., Atawey, Hiringa Energy Limited. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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