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Hydrogen Generation Market- Competitive Analysis, Opportunity & Forecast, 2027

Global Hydrogen Generation Market Size By Systems [Captive, Merchant], By Process [Coal Gasification, Steam Methane Reforming, Electrolysis], By Application (Petroleum Refinery, Metal, Chemical), By Region [North America, Europe, Asia Pacific, Middle East & Africa and Latin America], Forecast & Opportunities, 2020-2027.

Market Overview

Global Hydrogen Generation Market is expected to grow over USD 200 Billion by 2027 due to the rising demand for renewable energy. Rising demand for clean fuels, environmental awareness, governments imposing strict regulations of emission control is some of the factors influencing the growth of the Global Hydrogen Generation Market. Moreover, Hydrogen is increasingly used in various end-user industries also propels the growth of the market globally. The advanced technologies such as electrolytic, and pyrolysis production are making it easier for applications. However, transportation and storage issues are hindering the growth of the Global Hydrogen Generation Market.  

Hydrogen is a chemical element found on the earth, which is clean, versatile with the zero-emission carrier of energy. It is not present in its molecular form but is available in plenty of amounts. It is colorless, nonmetallic, non-toxic, highly combustible, odorless and tasteless diatomic gas. Water is the primary raw material used in the production process of hydrogen generation making it an environmentally friendly process. Hydrogen can be manufactured and transformed into electricity and can be stored in various forms such as gaseous, metal hydrides and liquid. It can be transformed into other energy forms It has the benefit of easy transportation, low boiling point, high efficiency and lightweight making it ideal for industrial use. It is an environment-friendly fuel as it produces pollution-free combustion products.

Market Segmentation

Global Hydrogen Generation Market can be segmented into Systems, Process, Applications, and Region.

By Systems, Global Hydrogen Generation Market can be segmented into Captive and Merchant. The Captive hydrogen segment holds the largest market share due to its rising application in the metal industry.

By Process, Global Hydrogen Generation Market can be segmented into Coal Gasification, Steam Methane Reforming, Electrolysis. The Steam methane reforming segment dominates the global market with its largest market share as it is the most economical process compared to others. Steam methane reforming is also a mature and advanced technology in hydrogen generation. The electrolysis segment is expected to grow significantly during the forecasted period of 2020-27 due to the rising use of renewables.   

By Application, Global Hydrogen Generation Market can be segmented into Petroleum Refinery, Metal, Chemical. The chemical is likely to grow significantly during the forecasted period of 2020-27 due to the increasing demand for ammonia in the fertilizer sector. Increasing usage of ammonia in urea production is likely to influence the market positively.

 By Region, Global Hydrogen Generation Market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Regional Analysis

Regionally, Asia Pacific Hydrogen Generation Market holds the largest market share and it is expected to grow significantly during the forecasted period of 2020-27. Growing economic activities in countries like China, India, South Korea, Australia are inducing the growth of the market. There is an increasing trend of large investments in R&D which propels the growth of the hydrogen generation market in this region.

Competitor Analysis

The key competitors in Global Hydrogen Generation Market are Iwatani Corporation, Hydrogenics, Praxair Technology, Inc., Caloric Anlagenbau GmbH, Showa Denko K.K., Messer Group GmbH, Taiyo Nippon Sanso Corporation, Nuvera Fuel Cells, Xebec Adsorption Inc.

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