Hydrogen Generation Market:
Growth opportunities in the Hydrogen Generation Market look promising over the next six years. This is mainly due to the growing demand for clean fuel technology and intensifying measures by the administration to promote clean energy.
Hydrogen Generation Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting demand for clean fuel technology along with the increasing government strategies to encourage clean energy are the major drivers responsible for the growth of the global hydrogen generation market. For example, the government of Japan has offered subsidies to private automotive companies such as Toyota to build a hydrogen fuelling station. Toyota has assisted in building and managing almost 100 hydrogen fuelling stations in Japan and is anticipated to touch 900 by 2030. It generated a massive demand for the market.
Moreover, natural gas, which is the principal source of hydrogen production, gauged for approximately three-quarters of the yearly production of about 70 million tonnes. Thereby, the stimulation in hydrogen production by a natural gas coupled with government proposals for the adaptability of clean fuel and industrial purposes has propelled the market size. However, the requirement of excessive security and immense capital investment to generate hydrogen will restrain the market share.
Technology Segment Drivers
Based on the technology, electrolysis of water is predicted to dominate the market during the forecast period. This is primarily attributed to the increase in clean fuel demand and continuous expansion in government initiatives and grants. For example, the state government of South Australia, in 2020, decided to introduce new hydrogen, including three hubs for placing the region at the forefront of clean hydrogen production and exportation throughout the world. The three hubs are situated at Port Bonython, Port Adelaide, and Cape Hardy/Port Spencer in South Australia. It could double the contemporaneous installed capacity of solar and wind farms.
Regional Drivers
Based on the regional coverage, Asia-Pacific is expected to lead the market over the forecast period. This is because of the rising measures and endowment by the government for transportation and movability. For instance, MNRE and NTPC, in 2021, launched a hydrogen fuel cell bus project in Leh for the accomplishment of 23 gigawatt of mega solar and transmission projects in the Leh and Ladakh. Furthermore, growing inclination towards cleaner and greener technology-based vehicles due to the escalating disbursement by consumers and rise in consumer awareness for clean environmental solutions have bolsters the market growth.
Hydrogen Generation Market’s leading Manufacturers:
- Hygear HQ
- Claind srl
- Ally hi-tech co., ltd.
- Linde
- Protononsite
- Fuelcell Energy
- Air Liquide
- Erre Due S.P.A.
- Ballard Power Systems
- Xebec Adsorption Inc
- Teledyne Technologies Incorporated
- Cummins Inc
- Air Products Inc
Hydrogen Generation Market Segmentation:
Segmentation by Generation
- Delivery Mode
- Merchant
- Captive
Segmentation by Technology
- Partial Oxidation of Oil
- Coal Gasification
- Electrolysis of Water
- Steam Methane Reforming
Segmentation by Storage
- On-Board Hydrogen Storage
- Underground Hydrogen Storage
- Power-To-Gas Hydrogen Storage
Segmentation by Application
- Mobility fuels
- Petroleum Refinery
- Chemical Processing
- Ammonia Production
- Methanol Production
- Transportation
- Power Generation
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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