According to a latest research, the global hydrogen generation industry is projected to reach USD 257.9 billion by 2028 from an estimated USD 158.8 billion in 2023, at a CAGR of 10.2% during the forecast period. The growing emphasis on environmental sustainability, rising adoption of fuel cell vehicles, and intermittent renewable energy integration accelerate the growth of the hydrogen generation market.
Key Market Players
Prominent companies in this market include Air Liquide (France), Linde plc (Ireland), Air Products and Chemicals, Inc. (US), Shell plc (UK), and Saudi Arabian Oil Co. (Saudi Arabia).
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=494
This report segments the hydrogen generation industry based on application into six categories: petroleum refinery, transportation, ammonia production, methanol production, power generation and others. Petroleum Refinery is expected to hold the largest market share in the hydrogen generation market during the forecast period. The rising demand for hydrogen in petroleum refineries can be attributed to the exceptional characteristics of hydrogen, which are essential for a variety of applications within hydrocarbon processing units. Hydrogen is a key component in various desulfurization processes such as Hydrodesulfurization and catalytic Reforming used in petroleum refineries to meet environmental regulations and reduce the sulfur content in crude oil and its derivatives are the factors that are expected to drive the growth of the petroleum refinery segment during the forecast period.
Based on the Source segment, the hydrogen generation industry is segmented into blue hydrogen, gray hydrogen and green hydrogen. The green hydrogen segment is expected to dominate the market during the forecast period as green hydrogen is an environmentally friendly energy source. Green hydrogen is inherently intertwined with the principles of sustainability, making it a vital component of efforts to mitigate environmental impact. By harnessing renewable energy sources like wind and solar power for its production, green hydrogen plays a pivotal role in minimizing carbon emissions and advancing the transition towards cleaner energy.
This research report categorizes the hydrogen generation industry based on source, technology, generation and delivery mode, application and region.
On the basis of source:
· Blue hydrogen
· Gray Hydrogen
· Green Hydrogen
On the basis of technology:
· Steam Methane Reforming (SMR)
· Partial Oxidation (POX)
· Auto Thermal Reforming (ATR)
· Coal Gasification
· Electrolysis
On the basis of application:
· Petroleum Refinery
· Transportation
· Ammonia Production
· Methanol Production
· Power Generation
· Others
On the basis of generation and delivery mode:
· Captive
· Merchant
On the basis of region:
· North America
· Europe
· Asia Pacific
· South America
· Middle East
· Africa
Based on the technology, the generation market is segmented into steam methane reforming, partial oxidation, coal gasification, auto thermal reforming, and electrolysis. The electrolysis segment is expected to be the fastest growing market during the forecast period owing to the low carbon emission compared to other methods and high purity. Electrolysis technology is highly versatile and environmentally friendly as compared to other technologies, which is expected to drive the growth of the electrolysis segment in the forecasted period.
Request Sample Pages of the Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=494
This report segments the hydrogen generation industry based on region into North America, Europe, Asia Pacific, South America, Middle East, and Africa . During the forecast period, the Europe segment holds the second highest CAGR due to adoption of hydrogen fuel cell vehicles in the region. According to European Council for an Energy Efficient Economy (ICEEE), The European Union (EU) set a target of 30 million zero emission vehicles by 2030.
Browse Related Reports:
Hydrogen Market by Sector (Generation Type (Gray, Blue, Green), Storage (Physical, Material), Transportation (Long, Short)), Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Refinery, Ammonia, Methanol)), Region - Global Forecast to 2030
Hydrogen Energy Storage Market by Form (Gas, Liquid, Solid), Technology (Compression, Liquefaction, Material Based), Application (Stationary Power, Transportation), End User (Electric Utilities, Industrial, Commercial) Region - Global Forecast to 2028
Power-to-gas Market by technology (Electrolysis and Methanation), Capacity (Less than 100 kW, 100–999kW, 1000 kW and Above), End-User (Commercial, Utilities, and Industrial), and Region (North America, Europe, Asia Pacific)
Fuel Cell Market by Type (PEMFC, SOFC, PAFC, MFC, DMFC, AFC), Application (Portable, Stationary, Vehicle (FCVs)), End User (Residential, C&l, Transportation, Data Center, Military & Defense), Size, Fuel, Component and Region - Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com
