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The Worldwide Hydrogen Generation Industry is Projected to Reach $262 Billion by 2031 at a 6.8% CAGR
Global Hydrogen Generation Market
Dublin, Jan. 13, 2023 (GLOBE NEWSWIRE) -- The "Hydrogen Generation Market By Source, By Process, By Delivery Mode, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global hydrogen generation market was valued at $136.3 billion in 2021, and is projected to reach $262.0 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.
Hydrogen generation is term which describes the process in which hydrogen is manufactured using various raw materials through different process such as steam methanol reforming, coal gasification, and others. Hydrogen plays a vital role in the oil & gas and chemical manufacturing industries.
Furthermore, the increase in awareness among the people regarding the advantages of the utilization of hydrogen as a power source in transportation sector has positive impact on the hydrogen generation market.
Hydrogen is also significantly used as a clean fuel alternative to electricity generation and propels vehicles. It is used as a fuel to curb harmful discharges and deliver water vapor and heat as the only output through fuel cells. Fuel cell manufacturers are continuously striving to introduce advanced systems with feasible integration in various applications.
Furthermore, different methods such as steam methane reforming, gas partial oxidation, and auto thermal reforming are adopted across the industry to generate hydrogen to serve the increasing requirements in various applications.
The governments from different emerging as well as developed countries have shown significant interest in achieving carbon neutrality. In addition, the administrations have also updated their strategies to include clean energy sectors in their future prospects fueling the expansion of hydrogen economy.
For instance, in March 2021, India and the U.S. governments have decided to update their strategic energy partnership to include low carbon technologies such as hydrogen and bio fuels. The two nations have also agreed to boost the R&D activities with programs such as partnership to advance clean energy research for renewable energy.
The hydrogen generation market is segmented on the basis of by source, process, delivery mode, application and region. On the basis of source, it is classified into blue hydrogen, gray hydrogen, and green hydrogen. On the basis of process, the market is categorized into steam methane reforming, coal gasification, electrolysis, and other.
On the basis of delivery mode, the market is bifurcated into captive, and merchant. On the basis of application, the market is divided into chemical processing, transportation, petroleum recovery, power generation and others. Furthermore, the chemical processing segment is further divided into ammonia, methanol, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America, and Europe.
The major companies profiled in this report include Linde Plc, Air Liquide, Cummins Inc., Uniper SE, Nel ASA, Siemens, Engine, ITM Power, Iberdrola, McPhy Energy S.A, Messer, Orsted A/S, Thyssenkrupp, Iwatani Corporation, Xebec Adsorption Inc., Ally Hi-Tech Co. Ltd, and Electrochaea GmbH.
Rapid development of industrialisation, modernization and increase in awareness among the individuals regarding the environmental impact of fossil fuels fuels the demand for hydrogen. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the detection technologies have led to attain key developments in the global hydrogen generation market trends.
Impact of Covid-19 on Hydrogen Generation Market
The global COVID-19 pandemic has negative impact on the hydrogen generation market. Outbreak of pandemic simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies across the globe.
The novel coronavirus has affected several economies and caused lockdown in many countries which has limited the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for solar related equipment in most of the countries across the world leading to decline in the growth of the hydrogen generation market. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market.
At the initial stage, demand for hydrogen significantly declined due to lockdowns. Furthermore, the supply of hydrogen was hampered, as major portion of the hydrogen is produced from natural gas reforming. However, governments of various countries across the world have eased lockdown restrictions. Therefore, there is steady rise in the manufacturing process. This is driving the demand for hydrogen in industrial applications. The trend is expected to continue during the forecast period.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hydrogen generation market analysis from 2021 to 2031 to identify the prevailing hydrogen generation market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the hydrogen generation market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global hydrogen generation market trends, key players, market segments, application areas, and market growth strategies
Report Attribute | Details |
No. of Pages | 409 |
Forecast Period | 2021 - 2031 |
Estimated Market Value (USD) in 2021 | $136.3 billion |
Forecasted Market Value (USD) by 2031 | $262 billion |
Compound Annual Growth Rate | 6.8% |
Regions Covered | Global |
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter's five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Key Regulation Analysis
3.8. Value Chain Analysis
CHAPTER 4: HYDROGEN GENERATION MARKET, BY SOURCE
4.1 Overview
4.1.1 Market size and forecast
4.2 Blue Hydrogen
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Gray Hydrogen
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Green Hydrogen
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: HYDROGEN GENERATION MARKET, BY PROCESS
5.1 Overview
5.1.1 Market size and forecast
5.2 Steam Methane Reforming
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Coal Gasification
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Electrolysis
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Others
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
CHAPTER 6: HYDROGEN GENERATION MARKET, BY DELIVERY MODE
6.1 Overview
6.1.1 Market size and forecast
6.2 Captive
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Merchant
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
CHAPTER 7: HYDROGEN GENERATION MARKET, BY APPLICATION
7.1 Overview
7.1.1 Market size and forecast
7.2 Chemical Processing
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market analysis by country
7.2.4 Chemical Processing Hydrogen Generation Market by Application
7.2.4.1 Ammonia Market size and forecast, by region
7.2.4.2 Ammonia Market size and forecast, by country
7.2.4.3 Methanol Market size and forecast, by region
7.2.4.4 Methanol Market size and forecast, by country
7.2.4.5 Others Market size and forecast, by region
7.2.4.6 Others Market size and forecast, by country
7.3 Transportation
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market analysis by country
7.4 Petroleum Recovery
7.4.1 Key market trends, growth factors and opportunities
7.4.2 Market size and forecast, by region
7.4.3 Market analysis by country
7.5 Power Generation
7.5.1 Key market trends, growth factors and opportunities
7.5.2 Market size and forecast, by region
7.5.3 Market analysis by country
7.6 Others
7.6.1 Key market trends, growth factors and opportunities
7.6.2 Market size and forecast, by region
7.6.3 Market analysis by country
CHAPTER 8: HYDROGEN GENERATION MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product Mapping of Top 10 Player
9.4. Competitive Dashboard
9.5. Competitive Heatmap
9.6. Key developments
CHAPTER 10: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/3cu4v2
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