Hydrogen Generator Market Research Report Information By Product (On-Site, Portable), By Process (Steam Reformer, Electrolysis), By Capacity (<100 Nm3/h, 100-2000 Nm3/h, >2000 Nm3/h), By Application (Chemical Processing, Petroleum Recovery, Fuel Cells, Refinery), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
ID: MRFR/E&P/2399-HCR | 188 Pages | Author: Anshula Mandaokar | October 2023
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Global Hydrogen Generator Market Overview
Hydrogen Generator Market Size was valued at USD 1.36 Billion in 2021. The Hydrogen Generator industry is projected to grow from USD 1.52 Billion in 2022 to USD 2.81 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.97% during the forecast period (2022 - 2030). Increased application of hydrogen in oil & gas, refinery, and chemical industry is expected to drive the market. The element Hydrogen, which is abundantly found in the universe does not exist naturally in its gaseous state and hence it should be manufactured using hydrogen generators. There has been an on-growing demand in the production of hydrogen gas as they can be used as energy carriers, fuel cells for vehicles, and local electricity generation.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Hydrogen Generator Market Trends
Fueling vehicles with Hydrogen will boost the market growth
Hydrogen vehicles are powered by the electricity produced by mixing hydrogen gas and oxygen, the electric power generated is used to propel the vehicle. As the process involves only hydrogen and oxygen, the by-products are water and heat. This makes the vehicle rightly called an eco-friendly and ‘Zero-emission vehicle’. Fuel cell demand for the automotive industry is expected likely to increase the demand for the market size. In comparison, Hydrogen vehicles are highly fuel-efficient for long travels as a fully charged hydrogen vehicle can travel 300 miles whereas an electric vehicle could travel only up to 100-200 miles. By realizing the efficiency of hydrogen vehicles, California has set a goal to have above 15% of the cars in their state be zero-emission cars by 2025. They have also pledged about 200 million dollars to build 100 more refueling stations across the state.
Hydrogen Generator Market Segment Insights
Hydrogen Generator Product Insights
The market segmentation, based on Product, includes On-Site and Portable. The On-Site segment held the majority share in 2021, of the market revenue. Owing to the increased development of hydrogen generators, owing to the growth of the oil and gas industry.
Hydrogen Generator Process Insights
Based on Process, the market segmentation includes Steam Reformer and Electrolysis. The Electrolysis segment dominated the market in 2021. The Electrolysis segment is gaining popularity owing to consumers' preference for advanced products. Moreover, the rise in demand for hydrogen-rich water owing to the growing number of applications such as in the food and beverage industry is also expected to boost the market growth.
Hydrogen Generator Capacity Insights
Based on Power Sources, the market segmentation includes <100 Nm3/h, 100-2000 Nm3/h, and>2000 Nm3/h. The 100-2000 Nm3/h segment dominated the market in 2021 with market growth. Due to the increased demand for portable hydrogen generators in the market. In addition, the growth of industrial hydrogen generators could be attributed to their application in various industries.
Hydrogen Generator Application Insights
Based on Application, the market segmentation includes Chemical Processing, Petroleum Recovery, Fuel Cells, and Refineries. The Chemical Processing segment dominated the market in 2021 the market growth. The Chemical Processing segment includes the manufacturing of hydrogen through the processes such as steam methane reforming and other chemical processing techniques. Steam Methane Reforming involves the use of steam in a reaction with methane to produce hydrogen, carbon dioxide, and water.
Figure 2 Hydrogen Generator Market, by Application, 2021 & 2030 (USD Million)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Hydrogen Generator Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific has the largest market share for hydrogen generation. Fuel cells are now commercially accessible in Japan for the first time. There are also proposals for a large-scale deployment of green hydrogen. To meet carbon emission limitations by 2025, the country plans to have 200,000 hydrogen fuel cell automobiles and 320 hydrogen filling stations. Asia's countries, notably India and Singapore, have initiated or plan to begin initiatives to promote the use of fuel cells in their respective markets. The major focus in these countries is on fuel cells for backup power.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure 3: Hydrogen Generator Market Share By Region 2021 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Hydrogen Generator Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Hydrogen Generator industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Hydrogen Generator industry to benefit customers and expand the market sector. The market has recently given medicine some of the most important advantages. Major market players, including Air Products and Chemicals, Linde, Air Liquide, LNI Swissgas, Hydrogenics-Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
Air Products and Chemicals produces ambient, processed, and specialized gases. It provides industrial gases and equipment to the refining, chemical, metals, electronics, manufacturing, and food and beverage sectors. The firm creates, engineers, builds, owns, and runs industrial gas projects, such as gasification projects that transform natural resources into syngas for the generation of power, fuels, and chemicals in a sustainable manner.
Also, Linde is an industrial gas and engineering services provider. It provides gas processing solutions for industries such as healthcare, electronics, manufacturing, and clean fuels. Chemicals and energy, food and beverage, electronics, healthcare, manufacturing, metals, and mining are among the end markets served by the company.
List of the Key Companies in the hydrogen generator market include
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Air Products and Chemicals
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Epoch Energy Technology
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LNI Swissgas
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Idroenergy
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Linde
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McPhy Energy
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Proton OnSite
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Praxair Inc
Hydrogen Generator Industry Developments
March 2022 Air Products Inc. announced constructing and operating the new green liquid hydrogen production plant in Casa Grande, Arizona. It will be a zero-carbon liquid hydrogen facility and will stream into the market by 2023.
January 2021 Linde signed an agreement with Yara to construct and deliver a 24 MW green hydrogen plant.
Hydrogen Generator Market Segmentation
Hydrogen Generator Product Outlook
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On-Site
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Portable
Hydrogen Generator Process Outlook
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Steam Reformer
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Electrolysis
Hydrogen Generator Power Capacity Outlook
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<100 Nm3/h
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100-2000 Nm3/h
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>2000 Nm3/h
Hydrogen Generator Application Outlook
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Chemical Processing
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Petroleum Recovery
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Fuel Cells
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Refinery
Hydrogen Generator Regional Outlook
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North America- US
- Canada
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Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World- Middle East
- Africa
- Latin America
Report Scope:
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 1.36 Billion |
| Market Size 2022 | USD 1.52 Billion |
| Market Size 2030 | USD 2.81 Billion |
| Compound Annual Growth Rate (CAGR) | 7.97% (2022-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Process, Capacity, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Air Liquide, Air Products and Chemicals, Epoch, Energy Technology, LNI Swissgas, Hydrogenics-Corporation, Idroenergy, Linde, McPhy Energy, Proton OnSite, Praxair Inc |
| Key Market Opportunities | Increased application of hydrogen in oil & gas, refinery, and chemical industry |
| Key Market Dynamics | Historical and projected market size in terms of value Technological advancement Macro economical and governing |
Frequently Asked Questions (FAQ) :
The Hydrogen Generator market size was valued at USD 1.36 Billion in 2021.
The market is projected to grow at a CAGR of 7.97% during the forecast period, 2022-2030.
Asia Pacific had the largest share of the Hydrogen Generator market.
The key players in the market are Air Liquide, Air Products and Chemicals, Epoch, Energy Technology, LNI Swissgas, Hydrogenics-Corporation, Idroenergy, Linde, McPhy Energy, Proton OnSite, Praxair Inc.
The On-Site category dominated the market in 2021.
Chemical Processing had the largest share of the market for Hydrogen generators.
Key Questions Answered
- ✅Global Market Outlook
- ✅In-depth analysis of global and regional trends
- ✅Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅To understand the capability of the major players based on products offered, financials, and strategies.
- ✅Identify disrupting products, companies, and trends.
- ✅To identify opportunities in the market.
- ✅Analyze the key challenges in the market.
- ✅Analyze the regional penetration of players, products, and services in the market.
- ✅Comparison of major players’ financial performance.
- ✅Evaluate strategies adopted by major players.
- ✅Recommendations
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