Hydrogen Generation Market - Global Industry Analysis, Size, Share, Trends, and Forecasts 2020 - 2030

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Hydrogen Generation Market - Global Industry Analysis, Size, Share, Trends, and Forecasts 2020 - 2030

Status : February, 2023 | Energy & Mining

Report Digest

Hydrogen Generation Market: Snapshot

The latest research reports indicate that the global hydrogen generation market will expand at the steady growth rate of 5.7 % over the forecast period i.e. 2021 to 2028.

Furthermore, the studies also inform that the global hydrogen generation market was evaluated at US$ 120.77 billion in the base year of the study, i.e. 2020.

The major and significant drivers influencing the growth within the global hydrogen generation market include the substantial rise in the requirement for green as well as clean fuel and the increasing levels of pollutions across the world.

Some of the other significant drivers for the development of the global hydrogen generation market also include the increasing regulations and standards by the government authorities around the world to limit the sulphur content in various fuel solutions as well as the rising applications of the products and solutions in the global hydrogen generation market in various end use industries.

The manufacturers and vendors working within the landscape of the global hydrogen generation market produce the hydrogen products through the utilization of various raw materials, including natural gas, biomass, and coal.

They also utilize several other materials for the production of the products and solutions in the global hydrogen generation market, such as non-renewable as well as renewable resources of energy.

The manufacturers and players functional within the global hydrogen generation market offer two major types of systems, such as captive systems as well as merchant systems.

The players and vendors in the global hydrogen generation market also use different types of technologies, such as coal gasification as well as steam methane reforming.

Few of the major applications for the solutions offered by the players in the global hydrogen generation market include ammonia production, transportation, methanol production, power generation, and petroleum refinery, among others.

Hydrogen Generation Market: Overview

The rise in applications that require fuel cell power generation is a prime factor promoting the growth of the global hydrogen generation market during the forecast period set between 2020 and 2030. The rising demand for long term power storage from various industrial and commercial sectors is also expected to add boost to the overall growth of the market in the coming years. Hydrogen is created utilizing various assets like flammable gas, biomass, coal, and different other sustainable and non-environmentally friendly power sources. Presently, gaseous petrol is the essential wellspring of hydrogen creation, and steam methane reformers utilizing petroleum gas are significantly utilized for creation.

The global hydrogen generation market is categorized on the basis of source, technology, application, and region. In terms of source, the market is grouped into grey hydrogen, green hydrogen, and blue hydrogen. Based on technology, the market is categorized into electrolysis, coal gasification, steam methane reforming or SMR, and partial oxidation or POX. Further classification of application segment includes power generation, transportation, methanol production, ammonia production, petroleum refinery, and other applications.

The report offers an elaborate overview of the market for hydrogen generation and its growth parameters. His includes factors driving, repelling, challenging, and bringing new growth opportunities for the market in the coming years. It also throws light on the impact of the novel coronavirus pandemic on this market and what measures can be adopted by players to attract more revenues in the next couple of years. The report also lists the number of manufacturers, and their recent contributions to the market in the form of innovations and trends. Furthermore, the report is available for sale on the company website.

Hydrogen Generation Market: Competitive Analysis

Companies operating in the global hydrogen generation market are engaging in collaborative agreements such as merger and acquisition, joint ventures, and partnerships. Some other players are investing in research and development of better products or on quality control so as to maintain their existing position in the overall market.

Some of the key players of this market include;

  • Ataway
  • HytECH Power,
  • PowerTap, Heliogen,
  • Hiringa Energy
  • Electrochaea, Green Hydrogen Systems
  • Exytron
  • Ally-Hi Tech
  • Plug Power
  • Starfire Energy
  • Enapter
  • Claind
  • McPhy Energy
  • Xebec
  • Taiyo Nippon
  • Showa Denko
  • Messer Group
  • Fuel Cell Energy
  • NEL Hydrogen
  • Engie  ITM Power
  • Iwatani
  • Air Products & Chemicals
  • Cummins
  • Air Liquide

Hydrogen Generation Market: Trends and Analysis

Different innovations are utilized by and by to deliver hydrogen, including steam methane transforming, halfway oxidation of oil, coal gasification, and water electrolysis. The vast majority of the hydrogen delivered today is utilized in oil treatment facilities and the assembling of manures. 99 percent of it comes from non-renewable energy source changing, as it has been the most efficient technique. Nonetheless, this doesn't have any genuine environment benefits as CO2 is discharged simultaneously. Electrolysis of water produces green hydrogen from inexhaustible energy assets, like coastal and seaward wind and sun based force. Green hydrogen has various applications, going from mechanical feedstock to power module vehicles and energy stockpiling.

Hydrogen Generation Market: Regional Insights

Geographically, the global hydrogen generation market is dominated by Asia Pacific on account of the rising adoption of green technologies for meeting the standards set by the national governments of the developing nations such as South Korea, Japan, and others. In addition to this, the rising adoption of hydrogen generation by automotive and residential applications is likely to aid in expansion of the regional market. Stringent regulations imposed by emerging nations such as Malaysia, India, and Singapore among others are likely to add boost to the market for hydrogen generation in the forecast period.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?