Hydrogen Generation Market to Reach USD 225.55 Billion by 2030 Driven by the Rising Demand for Cleaner Fuel | Grand View Research, Inc.

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According to a new report published by Grand View Research, the global hydrogen generation market is likely to be driven by increasing governmental regulations for the desulphurization of petroleum products.

Hydrogen Generation Industry Overview

The global hydrogen generation market size was valued at USD 129.85 billion in 2021 and is expected to reach USD 225.55 billion by 2030, registering a CAGR of 6.4% during the forecast period.

The global hydrogen generation market is likely to be driven by the demand for cleaner fuel, coupled with increasing governmental regulations for the desulphurization of petroleum products. Hydrogen is an effective energy carrier, and this quality is expected to contribute significantly to its further penetration into newer markets. The global electricity demand is expected to witness an increase of nearly two-thirds of the current demand during the forecast period. Focus on the projects, related to distributed power & utility, expected to bolster demand for the hydrogen generation market growth, during the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Hydrogen Generation Market

The U.S. is among the early adopters of clean energy solutions in the world for sectors such as power generation, manufacturing, and transportation. The U.S. Department of Energy (DOE) and Department of Transportation (DOT) introduced a Hydrogen Posture Plan in December 2006. The aim of this plan was to enhance R&D and validate technologies that can be employed for setting up hydrogen infrastructure. Moreover, this plan provided deliverables that were set by the Federal government to support the development of hydrogen infrastructure in the country. The plan was developed in accordance with the National Hydrogen Energy Vision and Roadmap. Development and construction of cost-effective and energy-saving hydrogen stations across the country is among the key objectives, planned by the government agency. All these factors are expected to propel the demand for the hydrogen generation market in the U.S.

                                                                                                                                

The German Ministry of Transport took an initiative in June 2012 to establish a countrywide hydrogen network and boost the hydrogen infrastructure for hydrogen refueling stations. As part of this initiative, the Ministry signed a letter of intent (LoI) with industry players such as Total, The Linde Group, Air Products and Chemicals, Inc., Daimler AG, and Air Liquide. Under the terms of which these industry players have given a target to construct, at least 50nos hydrogen fueling stations by 2015, in the metropolitan cities and major corridors in Germany.

Hydrogen Generation Market Segmentation

Based on the Technology Insights, the market is segmented into Steam Methane Reforming, Steam Methane Reforming and Others.

The Steam Methane Reforming segment is expected to keep its lead during the forecast period.
Coal Gasification held a share of 34.58% in the global Hydrogen Generation Market in 2021.

Based on the Application Insights, the market is segmented into Methanol Production, Ammonia Production, Petroleum Refining, Transportation, Power Generation and Others.

Ammonia production segment led the market and accounted for the largest revenue share of more than 20.28% in 2021.

Based on the Systems Insights, the market is segmented into Captive and Merchant.

Based on systems Merchant generation segment led the market in 2021. Merchant generation of hydrogen means hydrogen is produced at a central production facility and is transported and sold to a consumer by bulk tank, pipeline or cylinder truck.

Based on the Source Insights, the market is segmented into Natural Gas, Coal, Biomass and Water.

In source, natural gas segment led the market in 2021. Hydrogen is produced from natural gas reforming which produces hydrogen, carbon monoxide, and carbon dioxide.

Based on the Source Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

The Asia Pacific dominated the global market in 2021and accounted for the largest revenue share of over 41.40%.
The expansion of the hydrogen generation industry in North America has been underway for several years. The industry has grown at a brisk pace with contributions from each application and technology. 

Market Share Insights:

August 2019: Linde Plc announced that it has started a new gas production facility that supplies methane, carbon dioxide, and, hydrogen to Evonik Industries.
Feb 2019: Matheson Tri-Gas, Inc. acquired Linde HyCO business that produces hydrogen, carbon monoxide, or syngas.

Key Companies Profile:

The hydrogen generation market is competitive with key participants involved in R&D and constant innovation done by the vendors.

Some of the key players operating in the Hydrogen Generation market include:

Air Liquide International S.A
Air Products and Chemicals, Inc
Hydrogenics Corporation
INOX Air Products Ltd.
Iwatani Corporation
Linde Plc
Matheson Tri-Gas, Inc.
Messer
SOL Group
Tokyo Gas Chemicals Co., Ltd.

Order a free sample PDF of the Hydrogen Generation Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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