About Hydrogen Generation
Hydrogen production refers to a group of industrial processes for producing hydrogen gas. By 2020, steam reforming of natural gas, partial oxidation of methane, and coal gasification will produce the bulk of hydrogen from fossil fuels. Decarbonization of industries is recognized as a critical component in reducing the harmful effects of industrial pollution on the environment. This can be accomplished by utilizing hydrogen as a source of energy. As a result, this factor may aid the market for hydrogen generation in South America to increase significantly between 2020 and 2030. The number of countries having policies that actively encourage investment in hydrogen technology, as well as the sectors they target, is growing. There are now over 50 targets, requirements, and policy incentives in place to boost hydrogen, the bulk of which are focused on transportation. National government funding on hydrogen energy research, development, and demonstration has increased in recent years, however, it is still smaller than it was in 2008.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.1% |
On the basis of the existing market condition, players in the hydrogen generating market plan their business strategies. Global players form partnerships with local players in order to gain a foothold in the domestic market. Manufacturers in the hydrogen generating market are concentrating their efforts on new carbon-free hydrogen generation technologies, which are now popular. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Hydrogen Generation market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Air Products & Chemicals (United States), Iwatani (Japan), Engie (France), Enegix Energy, ITM Power (United Kingdom), NEL Hydrogen (Norway), Fuel Cell Energy (United States), Air Liquide (France), Cummins (United States) and Linde (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Enapter (Germany), Starfire Energy (United States), Claind (Italy), Plug Power (United States), Ally-Hi Tech (China), Green Hydrogen Systems (Denmark), Aquahydrex (US), Electrochaea (Germany), Exytron (Germany), Hiringa Energy (New Zealand), PowerTap (United States), Heliogen (United States), Ergousp (France), HyTech Power (United States), Atawey (France), Messer Group (Germany), Showa Denko (Japan), Taiyo Nippon (Japan), Xebec (Canada), Uniper (Germany) and McPhy Energy (France).
Segmentation Overview
AMA Research has segmented the market of Global Hydrogen Generation market by , Application (Petroleum Refinery, Ammonia Production, Methanol Production, Transportation, Power Generation and Others) and Region.
On the basis of geography, the market of Hydrogen Generation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. Steam Methane Reforming (SMR) will boost the Hydrogen Generation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by System Type, the sub-segment i.e. Merchant will boost the Hydrogen Generation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing popularity in the Power Generation sector and The Huge Demand in the transportation sector
Market Growth Drivers:
Upsurging Demand for long-term storage of renewable energy and High Demand for Government regulations for desulfurization as well as greenhouse gas emissions
Challenges:
Absence of well-established infrastructure for electric cars
Restraints:
The Concern Related to High capital cost of hydrogen energy storage
Opportunities:
Growing Development of green hydrogen production technologies across the Globe, Upsurging Demand for developing hydrogen-based economy and Increasing Government Investments in South American Countries
Market Leaders and their expansionary development strategies
On 26th January 2021, Global technology and power solutions leader Cummins Inc. has provided a 20-megawatt PEM electrolyzer system to generate green hydrogen, making it the largest in operation in the world. and On 13th January 2021, Total and ENGIE have signed a cooperation agreement to design, develop, build and operate the Masshylia project, France's largest renewable hydrogen production site at Châteauneuf-les-Martigues in the Provence-Alpes-Côte d'Azur South region.
On 7th July 2020, Air Products, a world leader in industrial gases megaproject development, and thyssenkrupp Uhde Chlorine Engineers, the world leader in technologies and comprehensive solutions for large-scale electrolysis plants, today announced the signing of a Strategic Cooperation Agreement (SCA). The two companies will collaborate exclusively in key regions, using their complementary technology, engineering, and project execution strengths to develop projects supplying green hydrogen.
Analyst View
The COVID-19 epidemic began in December 2019, and it has had an influence on the worldwide hydrogen generating market in all of the study's major regions. China, the United States, the United Kingdom, Italy, and a number of other significant economies around the world are all affected by the COVID-19 pandemic. The COVID-19 pandemic has cut electricity consumption dramatically, however residential building electricity use has increased. Governments all around the world, however, were forced to curtail commercial activity in order to limit the threat of coronavirus.
Key Target Audience
Hydrogen Generation Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.