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The market size for hydrogen generation was estimated at USD 102.7 billion in 2022. A compound annual growth rate (CAGR) of 10.45% is expected for the hydrogen generation market industry over the projection period (2022 - 2030), rising from USD 111.9 billion in 2022 to USD 210.5 billion by 2030. Major key drivers for market expansion include the adoption of smart and energy-efficient hydrogen generation technologies as well as the rapid industrialisation and urbanisation of Asia, particularly in China, India, and other Asian nations.
Nations have been compelled to employ a variety of power-producing technologies to meet demand due to continuous urban and industrial growth. Additionally, there are development initiatives in populous regions including the Middle East, Africa, and Asia-Pacific. In the global economy, concerns about employing sustainable energy sources to reduce dependency on fossil fuels like crude oil and natural gas are becoming more significant. For instance, the Statistical Review of World Energy 2020 by BP, published in June 2020, states that the overall energy consumption for the Asia Pacific region went from nearly 249.4 exajoules in 2018 to approximately 257.6 exajoules in 2019. As a result, this element is fueling the market CAGR.
Additionally, the demand for food will increase by a factor of two with an increase in population. To meet this growing need, more intensive farming, protective cropping practises, and the best fertiliser management practises will all be required. Fertiliser management will make use of nitrogen fertilisers. Ammonia is a key component of nitrogen fertilisers, and the ideal form is ammonium nitrate. The rising global population will result in a huge demand for agricultural products, necessitating the improvement of fertilisation management systems. The market will expand as a result of the increased demand for ammonia required to construct these systems.
Decarbonization also describes a progressive decrease in the carbon footprint of primary energy. The decarbonization of the global energy system, which has increased demand for green energy technology and cleaner energy sources like hydrogen, is one of the biggest problems we currently face. This is encouraging the growth of the industry that produces hydrogen. Furthermore, the sector is expanding rapidly as a result of encouraging government initiatives to reduce carbon footprints. As a clean energy fuel, hydrogen is expected to eventually reduce the need for oil, hence reducing greenhouse gas emissions as well as other pollutants. Hydrogen can be created in huge amounts from almost all energy sources, including biomass, wind, sun, nuclear, and clean fossil fuels. As a result, the electricity produced from the hydrogen produced can be used to balance supply and demand in the next energy system.
Nevertheless, it is anticipated that the industry would benefit from increased research and development spending for hydrogen as well as rising interest in hydrogen's advantages as a fuel among leading automakers during the course of the projected decade. As a result, it is projected that this factor will boost global revenue from the hydrogen generating market.
The Generation of Hydrogen According to source, the market has been divided into three segments: blue, green, and grey hydrogen. During the projection period, 2022–2030, the blue hydrogen sector is expected to develop at the fastest rate. It dominated market growth in 2021. Since production is simple, there are no input shocks, and it can be adjusted to operate with current technology found in chemical plants, oil refineries, and other areas of the economy, it is the alternative that has the highest potential of being commercially successful. Blue hydrogen has grown in importance as a part of company strategy since these industries have historically invested a lot in their physical infrastructure.
Report Coverage
Global Hydrogen Generation research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Hydrogen Generation report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Hydrogen Generation competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Hydrogen Generation market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Hydrogen Generation market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Hydrogen Generation market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Praxair Inc. (US), Air Liquide S.A. (France), Air Products and Chemicals Inc. (US), Hydrogenics (Canada), Iwatani (Japan), Messer Group (Germany), Plug Power (US)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Hydrogen Generation market based on the below-mentioned segments:
Global Hydrogen Generation Market, By Source
Blue Hydrogen
Green Hydrogen
Grey Hydrogen
Global Hydrogen Generation market, By Application
Petroleum Refinery
Ammonia Production
Methanol Production
Transportation
Power Generation
Other Applications
Global Hydrogen Generation Market, By Technology
Steam Methane Reforming (SMR)
Partial Oxidation (POX)
Coal Gasification
Electrolysis
Global Hydrogen Generation market, Regional Analysis
Nations have been compelled to employ a variety of power-producing technologies to meet demand due to continuous urban and industrial growth. Additionally, there are development initiatives in populous regions including the Middle East, Africa, and Asia-Pacific. In the global economy, concerns about employing sustainable energy sources to reduce dependency on fossil fuels like crude oil and natural gas are becoming more significant. For instance, the Statistical Review of World Energy 2020 by BP, published in June 2020, states that the overall energy consumption for the Asia Pacific region went from nearly 249.4 exajoules in 2018 to approximately 257.6 exajoules in 2019. As a result, this element is fueling the market CAGR.
Additionally, the demand for food will increase by a factor of two with an increase in population. To meet this growing need, more intensive farming, protective cropping practises, and the best fertiliser management practises will all be required. Fertiliser management will make use of nitrogen fertilisers. Ammonia is a key component of nitrogen fertilisers, and the ideal form is ammonium nitrate. The rising global population will result in a huge demand for agricultural products, necessitating the improvement of fertilisation management systems. The market will expand as a result of the increased demand for ammonia required to construct these systems.
Decarbonization also describes a progressive decrease in the carbon footprint of primary energy. The decarbonization of the global energy system, which has increased demand for green energy technology and cleaner energy sources like hydrogen, is one of the biggest problems we currently face. This is encouraging the growth of the industry that produces hydrogen. Furthermore, the sector is expanding rapidly as a result of encouraging government initiatives to reduce carbon footprints. As a clean energy fuel, hydrogen is expected to eventually reduce the need for oil, hence reducing greenhouse gas emissions as well as other pollutants. Hydrogen can be created in huge amounts from almost all energy sources, including biomass, wind, sun, nuclear, and clean fossil fuels. As a result, the electricity produced from the hydrogen produced can be used to balance supply and demand in the next energy system.
Nevertheless, it is anticipated that the industry would benefit from increased research and development spending for hydrogen as well as rising interest in hydrogen's advantages as a fuel among leading automakers during the course of the projected decade. As a result, it is projected that this factor will boost global revenue from the hydrogen generating market.
The Generation of Hydrogen According to source, the market has been divided into three segments: blue, green, and grey hydrogen. During the projection period, 2022–2030, the blue hydrogen sector is expected to develop at the fastest rate. It dominated market growth in 2021. Since production is simple, there are no input shocks, and it can be adjusted to operate with current technology found in chemical plants, oil refineries, and other areas of the economy, it is the alternative that has the highest potential of being commercially successful. Blue hydrogen has grown in importance as a part of company strategy since these industries have historically invested a lot in their physical infrastructure.
Report Coverage
Global Hydrogen Generation research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Hydrogen Generation report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Hydrogen Generation competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Hydrogen Generation market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Praxair Inc. (US), Air Liquide S.A. (France), Air Products and Chemicals Inc. (US), Hydrogenics (Canada), Iwatani (Japan), Messer Group (Germany), Plug Power (US) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Hydrogen Generation Market from 2021 to 2030.
- Market Forecast for Hydrogen Generation Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Hydrogen Generation competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Hydrogen Generation
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Hydrogen Generation market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Hydrogen Generation market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Praxair Inc. (US), Air Liquide S.A. (France), Air Products and Chemicals Inc. (US), Hydrogenics (Canada), Iwatani (Japan), Messer Group (Germany), Plug Power (US)
Primary Target Market
- Market Players of Hydrogen Generation
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Hydrogen Generation market based on the below-mentioned segments:
Global Hydrogen Generation Market, By Source
Blue Hydrogen
Green Hydrogen
Grey Hydrogen
Global Hydrogen Generation market, By Application
Petroleum Refinery
Ammonia Production
Methanol Production
Transportation
Power Generation
Other Applications
Global Hydrogen Generation Market, By Technology
Steam Methane Reforming (SMR)
Partial Oxidation (POX)
Coal Gasification
Electrolysis
Global Hydrogen Generation market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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