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Hydrogen Generation Market Research Report - Global Forecast till 2030

Hydrogen Generation Market Research Report: Information by Generation and Delivery Type (Captive, Merchant), Storage (On-board, Underground, Power-to-Gas), Application (Petroleum Refinery, Ammonia Production, Power generation and others) and Region - Global Forecast till 2030

ID: MRFR/E&P/5561-HCR | December 2022 | Region: Global | 100 Pages         

Hydrogen Generation Market

The Hydrogen Generation Market size is anticipated to reach USD 210.85 billion by 2030, at a CAGR of 9.45% during the forecast period 2022-2030

Segmentation

By Source Blue Hydrogen Green Hydrogen Grey Hydrogen
By Technology Steam Methane Reforming (SMR) Partial Oxidation (POX) Coal Gasification Electrolysis
By Application Petroleum Refinery Ammonia Production Methanol Production Transportation Power Generation Other Applications

Key Players

  • Praxair Inc. (US)
  • Air Liquide S.A. (France)
  • Air Products and Chemicals Inc. (US)
  • Hydrogenics (Canada)
  • Iwatani (Japan)
  • Messer Group (Germany)
  • Plug Power (US)
  • Linde (US)
  • Showa Denko (Japan)
  • Ballard Power systems (Canada)
  • Fuelcell Energy (US)

Drivers

  • Increasing demand in transportation sector
  • Shifting trends towards cleaner energy
  • Growing demand to decarbonize energy end-use
  • Development of green hydrogen production technologies
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According to the latest reports, the Hydrogen Generation Market size is anticipated to reach USD 210.85 billion, up from an estimated USD 133.56 billion in 2020, at a CAGR of 9.45% during forecast period 2022-2030. Increasing demand in transportation sector is expected to drive global market growth.


Hydrogen Generation Market Overview


The atmosphere contains hydrogen in its gaseous form, making it one of the most abundant elements. With the addition of steam, a mixture of carbon and hydrogen monoxide may be generated. The gasification process and water electrolysis are two different ways of generating hydrogen. The hydrogen manufacturing business is seeing rapid growth in response to the rising need for extended storage for sustainable power. In addition, the hydrogen generating business will benefit from the widespread use of hydrogen production technology in high-energy sectors.


The process of addressing the worldwide need for sustainable hydrogen energy will play a significant role. Also preserved is the notion of emissions reduction and decreasing reliance on fossil fuels in the future. Additionally, the requirement for hydrogen in the transport industry and the dehydrogenation of refinery operations has a significant impact on market growth. Overall, the hydrogen generation industry is expected to do well over the forecasted time for all these reasons. Making hydrogen using electrolysis or steam reforming is a widespread practice.


This report contains all the information on the global hydrogen generation market analysis and the market strengths. In addition, the report also includes the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the global hydrogen generation market forecast for 2030 is also included in the report.


Covid 19 Analysis of Hydrogen Generation Market 


Interruptions to the COVID-19 system had no discernible influence on the hydrogen manufacturing sector. Inevitably, industry players were confronted with various issues, including disrupted distribution networks, material shortfalls, logistical difficulties in transporting completed items, and the need to lure staff out of prevention measures. On the other hand, the pandemic demonstrated that there is a strong need for renewable energy throughout the world.


Hydrogen Generation Market Dynamic



  • Drivers


Many governments throughout the globe are working to pass legislation mandating desulfurization, which will serve as a significant catalyst for the business. Clean fuel is needed worldwide, and this need is likely to grow in the future years. Among the most reliable and acceptable power sources to meet the transportation and manufacturing sector's needs is hydrogen, which is being developed to reduce emissions.



  • Opportunities


The worldwide hydrogen generation market value production is seeing growth as new, environmentally friendly methods of hydrogen generation are now being created. Steam methane reformation, partial oxidation of crude oil, gasification, coal, and water electrolysis are among the technologies used to make hydrogen. Refineries and fertiliser plants consume the bulk of hydrogen produced today. A whopping 99% of it comes from fossil fuel reforming, which has become the most cost-effective method of producing it.



  • Restraints


Both developed and developing countries are concerned about the growth of their respective communities. As a result, the market is projected to complain about the lack of funding for large-scale hydrogen production. When it comes to adopting lifestyle changes, people are more dependent on liquid fuels, which could significantly hinder market growth by the end of the forecast. Furthermore, hydrogen energy storage is currently more costly than energy sources. As a result, liquid hydrogen, which is heavier than hydrogen concerning energy transmission, should be isolated from the gaseous hydrogen.



  • Challenges


Several countries, like South Korea and Japan, are seeing an increase in the number of hydrogen-powered cars. Authorities in certain countries provide subsidies to encourage the purchase of these vehicles. In addition, they offer to help with the building of crucial infrastructure. Several states in the U.s., including California, offer incentives to drivers who use fuel-cell-powered vehicles on public roads. Despite the potential sustainability of hydrogen-powered vehicles, experts believe that natural gas production is required, which means fossil fuels must be used. On the other side, battery-powered electric cars are more ecologically beneficial than hydrogen-powered vehicles since they don't need to be refuelled. Hydrogen obtained from renewable sources is being explored as a potential fuel source for electric vehicles. Tank resupply is further complicated because the market's network is woefully inadequate.



  • Cumulative Growth Analysis


The hydrogen generating market outlook has been divided into captive and merchant segments based on generation and distribution modes. As water electrolysis and biogas processes become more widely available, the merchant market will grow significantly. Natural gas and electrolysis are both viable methods for generating commercial hydrogen. Lower transportation of fuel, and hence, the requirement for additional hydrogen-generating infrastructure to be constructed. In contrast to on-site hydrogen generation with unlimited manufacturing capacity, comparatively higher prices are a drawback.



  • Value Chain Analysis


The hydrogen generation market has been divided based on generation and distribution, storage, uses, and geographical location. During the projected period, the value of the worldwide hydrogen-generating market is predicted to expand at a reasonable rate. Depending on the application, the market is split into the following categories: power generation, ammonia production, transportation, petroleum refinery, and methanol manufacturing. In addition, the market is classified into three forms of propulsion: underground storage, crystalline onboard storage, and power-to-gas storage.


Hydrogen Generation Market Segmentation Overview


The market is segmented based on generation and distribution, storage, uses, and geographical location. The global hydrogen generation market trends are expected to witness decent growth during the forecast period.


By Application


The market is segmented into power generation, ammonia production, transportation, petroleum refinery, and methanol manufacturing based on the application.


By end-users


The market is segmented into underground storage, crystalline onboard storage, and power-to-gas storage based on the propulsion types.


Hydrogen Generation Market Regional Analysis


The hydrogen generation market has been segmented into four regions: Europe, Asia Pacific, North America, South America, the Middle East, and Africa. To satisfy the government's goal of lowering GHG emissions, Asia Pacific is among the leading hydrogen generation market share for implementing green technology. Because of the widespread commercialization of Japanese fuel cell micro-CHP devices, both Japan and South Korea have been making significant investments in adopting this technology since 2009. For the first time, fuel cells are commercially available in Japan. In addition, there are plans for a large-scale deployment of green hydrogen. For the nation to satisfy the worldwide carbon pollution limits by 2025, it wants to have 200,000 hydrogen fuel cell cars and 320 hydrogen filling stations. Countries in Asia, including India and Singapore, have begun or are anticipated to begin efforts to encourage the use of fuel cells in their respective markets. Fuel cells for backup power are the primary emphasis in these nations.


Hydrogen Generation Market Competitive landscape


The hydrogen generating industry participants base their business plans on the current market conditions. To gain a presence in the home market, multinational corporations work together with local firms. It is becoming fashionable for hydrogen production companies to develop innovative carbon dioxide emissions-free hydrogen generation methods. Hydrogen manufacturing stands to gain enormously from large-scale R&D investments that lead to groundbreaking breakthroughs. Business alliances, mergers, and acquisitions are vital aspects of generating growth. One recent example is Biotech's announcement of a partnership alongside Ariel Re to develop a risk management solution for Bayotech's gas generators, which will help assure their uptime and output. Improved systems and processes mean that there are more development opportunities.


Hydrogen Generation Market Major Key Players



  • Air Liquide (France)

  • Cummins (US)

  • Linde (Germany)

  • Iwatani (Japan)

  • ITM Power (UK)

  • NEL Hydrogen (Norway)

  • Fuel Cell Energy (US)

  • Messer Group (Germany)

  • Showa Denko (Japan)

  • Xebec (Canada)

  • Claind (Italy)

  • Green Hydrogen Systems (Denmark)


Hydrogen Generation Market Report Overview


The Hydrogen Generation Market report comprises of –



  • Market overview

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis


Segmentation Overview



  • By Application

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments in Hydrogen Generation Market


Air Liquide bought Hydrogenics in January 2019 to build Canada's biggest PEM electrolyzer, capable of producing 20 megawatts (MW) of low-carbon hydrogen . In Bécancour, Quebec, a new 20 MW electrolyzer could raise the hydrogen facility's existing capacity by 50%. An production of less than 3,000 tonnes of hydrogen per year is estimated to be achieved in 2020 when the plant becomes commercial.


Based on source, the market has been segmented as follows:



  • Blue Hydrogen

  • Green Hydrogen

  • Grey Hydrogen


Based on technology, the market has been segmented as follows:



  • Steam Methane Reforming (SMR)

  • Partial Oxidation (POX)

  • Coal Gasification

  • Electrolysis


Based on application, the market has been segmented as follows:



  • Petroleum Refinery

  • Ammonia Production

  • Methanol Production

  • Transportation

  • Power Generation

  • Other Applications


Based on the region, the market has been segmented as follows:



  • North America

    • The U.S.

    • Canada

    • Mexico



  • Europe

    • Germany

    • Russia

    • The U.K.

    • Spain

    • Italy

    • France



  • Asia Pacific

    • China

    • Japan

    • South Korea

    • Australia

    • India



  • Central & South America

    • Brazil

    • Colombia

    • Paraguay



  • The Middle East and Africa

    • UAE

    • Saudi Arabia

    • South Africa

    • Egypt





Report Scope:

Report Attribute/Metric Details
  Market Size   USD 210.85 billion
  CAGR   9.45% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Installation, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Praxair, Inc. (US), Air Liquide S.A. (France), Air Products and Chemicals, Inc. (US), Hydrogenics (Canada), Iwatani (Japan), Messer Group (Germany), Plug Power (US), Linde (US), Showa Denko (Japan), Ballard Power systems (Canada), and Fuelcell Energy (US)
  Key Market Opportunities

  • Increasing government support for hydrogen
  • Development of green hydrogen production technologies
  •   Key Market Drivers

  • Increasing demand in transportation sector
  • Shifting trends towards cleaner energy
  • Growing demand to decarbonize energy end-use


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    Frequently Asked Questions (FAQ) :

    9.45% CAGR si recorded for the market’s growth in the forecast period.

    Air Liquide S.A. (France), Praxair, Inc. (US), Hydrogenics (Canada), Iwatani (Japan), Messer Group (Germany), Air Products and Chemicals, Inc. (US) are the key players of the market.

    The major factors leading the hydrogen generation market are the mounting demand to decarbonize energy end-use and shifting trend in cleaner energy.

    Europe holds second position in the hydrogen generation market.

    The generation & delivery type, storage, application are the key segments of the market.

    The two most common methods for producing hydrogen are steam-methane reforming and electrolysis (splitting water with electricity.