The Hydrogen Generation Market is expected to grow from USD 128 billion in 2020 to USD 219 billion by 2026 at a CAGR of 9% from 2020 to 2026.
Hydrogen can be generated using various processes and different resources. For instance, the thermochemical process needs the usage of fossil fuels to release hydrogen, while in other processes; water is divided into hydrogen and oxygen through electrolysis or solar energy. Currently, new techniques are being developed using bacteria and algae, which are also economical, efficient, and eco-friendly. Nowadays, the demand for hydrogen generation is rising in purifying petroleum, treating metals, producing fertilizers and processing food products. Besides this, it is also attaining traction as a fuel in electric vehicles (EVs) worldwide. Increase in awareness among people about the eco-friendly and zero-emission vehicles resulted in innovation of hydrogen vehicles. These vehicles are powered by electricity produced from blending of hydrogen and oxygen (fuel cell). Surge in demand for fuel cells in the automobile industry are creating enormous hydrogen generation market opportunities across the world. Chemical processing is also one of the end-user applications, where hydrogen is used large-scale to produce several chemical products. Furthermore, the increase in demand for several ammonia fertilizers across the world is a prominent factor for growth of hydrogen in this segment. This increase in demand is also projected to have a positive impact on large-scale hydrogen generation process. Rise in population and requirement for different chemical raw materials in several industries offer opportunities for growth of the hydrogen generation industry in this sector. Hydrogen is used in refineries to decrease sulphur content in diesel fuels and produce certain by-products where hydrogen is utilized as a catalyst to form naphtha into higher value octane products. Partial oxidation process is a process in which hydrogen is produced from refining heavy oil, which can minimize pollution of fuels. Apart from this, the high energy consumption of hydrogen generation technologies is a factor restraining the market growth.
Further, increase in awareness among people about the greenhouse gases and surge in demand for energy and fossil fuels have propelled growth of the electrolysis process-of hydrogen generation. Almost 4% of global hydrogen has generated from electrolysis in 2020, which is around 8GW. Rapid development in many technologies and electrical efficiency of these hydrogen generators is also one of the key factors for growth of this kind of hydrogen production process.
The global Hydrogen Generation Market is segregated on the basis of Application as Petroleum Refinery, Ammonia & Methanol production, Transportation and Power Generation. Based on Generation & Delivery Mode the global Hydrogen Generation Market is segmented in Captive and Merchant. Based on Source the global Hydrogen Generation Market is segmented in Blue Hydrogen, Green Hydrogen and Grey Hydrogen.
The global Hydrogen Generation Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Hydrogen Generation Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Showa Denko K.K., Messer Group GmbH, Caloric Anlagenbau GmbH, Nuvera Fuel Cells, Xebec Adsorption Inc and others are among the major players in the global Hydrogen Generation Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Hydrogen Generation Market has been segmented as below:
Hydrogen Generation Market, By Application
Hydrogen Generation Market, By Generation & Delivery Mode
Hydrogen Generation Market, By Source
Hydrogen Generation Market, By Region
Hydrogen Generation Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Hydrogen Generation Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Hydrogen Generation Market share. Major industry players with significant revenue share include Showa Denko K.K., Messer Group GmbH, Caloric Anlagenbau GmbH, Nuvera Fuel Cells, Xebec Adsorption Inc and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Hydrogen Generation Market, By Application
5.1. Key Points
5.2. Petroleum Refinery
5.3. Ammonia & Methanol production
5.4. Transportation
5.5. Power Generation
6. Hydrogen Generation Market, By Generation & Delivery Mode
6.1. Key Points
6.2. Captive
6.3. Merchant
7. Hydrogen Generation Market, By Source
7.1. Key Points
7.2. Blue Hydrogen
7.3. Green Hydrogen
7.4. Grey Hydrogen
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- Hydrogen Generation Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. Showa Denko K.K.
9.2. Messer Group GmbH
9.3. Caloric Anlagenbau GmbH
9.4. Nuvera Fuel Cells
9.5. Xebec Adsorption Inc
9.6. Taiyo Nippon Sanso Corporation
9.7. Hydrogenics
9.8. Praxair Technology, Inc
9.9. Iwatani Corporation
9.10. Air Products & Chemicals
9.11. Ally Hi Tech
9.12. Aquahydrex
9.13. Atawey
9.14. Claind
9.15. Cummins
9.16. Electrochaea
9.17. Enapter
9.18. Engie
9.19. Fuel Cell Energy
9.20. Green Hydrogen Systems
Hydrogen Generation Market, By Application
Hydrogen Generation Market, By Generation & Delivery Mode
Hydrogen Generation Market, By Source
Hydrogen Generation Market, By Company