Hydrogen Generation Market Trends and Forecast
The future of the hydrogen generation market looks promising with opportunities in the petroleum refinery, ammonia production, methanol production, transportation, and power generation applications. The global hydrogen generation market is expected to grow with a CAGR of 10% to 12% from 2023 to 2028. The major drivers for this market are increasing hydrogen consumption in fuel cell electric vehicles and strict regulation for hazardous gas emission.
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Hydrogen Generation Market by Segment
The study includes a forecast for the global hydrogen generation market by source, technology, delivery mode, application, and region, as follows:
Hydrogen Generation Market by Source [Value ($B) Shipment Analysis from 2017 to 2028]:
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Blue Hydrogen
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Gray Hydrogen
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Green Hydrogen
Hydrogen Generation Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:
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Steam Methane Reformin (SMR)
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Partial Oxidation (POX)
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Coal Gasification
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Electrolysis
Hydrogen Generation Market by Delivery Mode [Value ($B) Shipment Analysis from 2017 to 2028]:
Hydrogen Generation Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
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Petroleum Refinery
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Ammonia Production
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Methanol Production
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Transportation
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Power Generation
Hydrogen Generation Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
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North America
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Europe
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Asia Pacific
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The Rest of the World
List of Hydrogen Generation Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies hydrogen generation companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the hydrogen generation companies profiled in this report include.
Hydrogen Generation Market Insights
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Lucintel forecasts that blue hydrogen will remain the largest segment over the forecast period because blue hydrogen is derived from natural gas through steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction creates hydrogen and carbon monoxide, and the cost of generating blue hydrogen is very low.
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Within this market, ammonia production is expected to remain the largest segment due to rising government regulations in order to encourage desulphurization of fuels to conserve the environment, and ammonia’s potential as a carbon-free fuel, hydrogen carrier, and energy store represents an opportunity for renewable hydrogen technologies to be deployed at an even greater scale.
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APAC will remain the fastest growing region due to the increase in fuel cell based electric vehicles in this region, hydrogen-based economy, and research activities and developments in the region targeting to reduce the cost of green hydrogen generation.
Features of the Hydrogen Generation Market
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Market Size Estimates: Hydrogen Generation market size estimation in terms of value ($B)
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Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
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Segmentation Analysis: Hydrogen Generation market size by various segments, such as by source, technology, delivery mode, application, end-user and region.
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Regional Analysis: Hydrogen Generation market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
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Growth Opportunities: Analysis on growth opportunities in different by source, technology, delivery mode, application, end-user and regions for the hydrogen generation market.
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Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Hydrogen Generation market.
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Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the hydrogen generation market size?
Answer: The global Hydrogen Generation market is expected to reach an estimated $xx billion by 2028.
Q2. What is the growth forecast for hydrogen generation market?
Answer: The global hydrogen generation market is expected to grow with a CAGR of 10% to 12% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the hydrogen generation market?
Answer: The major drivers for this market are increasing hydrogen consumption in fuel cell electric vehicles and strict regulation for hazardous gas emission.
Q4. What are the major segments for hydrogen generation market?
Answer: The future of the hydrogen generation market looks promising with opportunities in the petroleum refinery, ammonia production, methanol production, transportation, and power generation applications.
Q5. Who is the key hydrogen generation companies?
Answer: Some of the key Hydrogen Generation companies are as follows:
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Air Liquide
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Cummins
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Linde
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Air Products & Chemicals
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Iwatani Corporation
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ITM Power
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NEL Hydrogen
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Fuel Cell Energy
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Messer Group
Q6. Which hydrogen generation segment will be the largest in future?
Answer: Lucintel forecasts that blue hydrogen will remain the largest segment over the forecast period because blue hydrogen is derived from natural gas through steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction creates hydrogen and carbon monoxide, and the cost of generating blue hydrogen is very low.
Q7. In hydrogen generation market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the fastest growing region due to the increase in fuel cell based electric vehicles in this region, hydrogen-based economy, and research activities and developments in the region targeting to reduce the cost of green hydrogen generation.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1. What are some of the most promising, high-growth opportunities for the hydrogen generation market by source (blue hydrogen, green hydrogen, and grey hydrogen), technology (steam methane reforming (SMR), partial oxidation (POX), coal gasification, and electrolysis), delivery mode (captive, and merchant), application (petroleum refinery, ammonia production, methanol production, transportation, and power generation) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?
For any questions related to hydrogen generation market or related to hydrogen generation companies, hydrogen generation market size, hydrogen generation market share, hydrogen generation analysis, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.