Hydrogen Generation Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Hydrogen Generation Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Energy & Mining | PPT format

Report Digest


Global Hydrogen Generation Market: Snapshot

Hydrogen generation is one of the more critical industrial processes that is needed by a number of application segments. The more common uses of hydrogen generation technologies is in the production of ammonia and methanol, as well as for a number of on-site oil refining processes. The core advantage for players in the global hydrogen generation market is that there are no natural reserves of hydrogen due to the nature of the gas, due to which hydrogen needs to be synthesized through various means before use.

Common hydrogen generation methods include its synthesis from hydrocarbons, using steam reforming, thermolysis, and electrolysis. Nearly all hydrogen generation over the past few years was through coal gasification, partial oxidation of methane, and steam reforming of fossil fuels. One of the key uses of hydrogen in the oil and gas sector is to produce lighter fractions of heavy petroleum in a process known as hydrocracking. The future of hydrogen generation also seems to be very bright, with a lot of focus being given to hydrogen fuel cells amid the growing push towards clean and renewable energies.

Global Hydrogen Generation Market: Overview   

Hydrogen can be generated via a number of diverse methods. Some of these include thermochemical processes, direct solar water splitting processes, electrolytic processes, and biological processes. Fuel cells use hydrogen to produce energy using a chemical reaction instead of combustion, with only heat and water as the byproducts. Fossil fuels such as coal and natural gas are used to generate hydrogen. However, a preference for renewable energy sources such as solar energy, wind energy, biomass, hydro-electric power, and geothermal power has been increasing due to rising environmental crisis. 

Global Hydrogen Generation Market: Key Trends   

Of late, there has been a surge in the demand for diesel originating from both domestic and industrial applications. As hydrogen is used in the reduction of sulfur content in diesel fuel, the demand for hydrogen generation will also increase. Developing economies have been requiring large volumes of crude oil due to the robust growth in industrialization, aiding the expansion of the global hydrogen generation market. Refineries over the world are being upgraded so as to extend their productivity and efficiency, apart from meeting the strict regulatory standards related to sulfur emission. This has led to increasing investments for the same.  All these factors have stoked the growth of the global hydrogen generation market. 

Global Hydrogen Generation Market: Market Potential   

Currently, the production of hydrogen for industrial uses relies heavily on nonrenewable energy resources. Therefore, a key potential has been acknowledged in the generation of hydrogen through renewable energy resources. A four-year project funded by Hydrogen Europe, an industrial association, and research organizations N.ERGHY, Horizon 2020 Research and Innovation program aims at generating hydrogen through solar energy that is suitable for industrial use. 

The project is likely to develop a prototype in an area of 10 square meters, converting around 6.0% of the incident solar energy into hydrogen. The cost of the hydrogen thus produced should also be lesser than the market price. This development is expected to bring about a technological breakthrough, not only in the global hydrogen generation market but also the global photovoltaic cells market. 

Global Hydrogen Generation Market: Regional Outlook   

Increasing demand for ammonia to be used as feedstock for urea is one of the key growth drivers of the hydrogen generation market in North America. Led by the U.S., the North America segment will account for a major share in the global market owing to stringent regulations applicable to vehicle emissions. Rising demand for chemicals from the food and beverage industry and the construction sector in Europe will drive the market growth in this region. Asia Pacific is slated for substantial growth, on account of rising demand for petroleum and petroleum products. 

Global Hydrogen Generation Market: Competitive Analysis   

Some of the major companies operating in the global market for hydrogen generation are Xebec Adsorption Inc, Showa Denko K.K., Hydrogenics, Messer Group GmbH, Iwatani Corporation, Nuvera Fuel Cells, LLC, Praxair Technology, Inc., Caloric Anlagenbau GmbH, and Taiyo Nippon Sanso Corporation. 

Proton Onsite, a Wallingford-based company manufacturing hydrogen, has been recently acquired by Nel, a Norwegian hydrogen-producing company. The acquisition promises growth for both the companies, wherein Nel is looking to expand its footprint in the U.S. In 2016, Proton Onsite signed a contract with China-based Guangdong Synergy Hydrogen Power Technology Co., Ltd. As per the contract, megawatt-scale PEM electrolyzers for buses running on fuel-cell will be provided by Proton Onsite.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?