Global Hydrogen Generation Market
Global Hydrogen Generation Market By Source (Blue Hydrogen, Green Hydrogen, and Grey Hydrogen), By Delivery Mode (Captive and Merchant), By Technology (Steam Methane Reforming (SMR), Partial Oxidation (POX), Coal Gasification, Electrolysis, and Others) , By Application (Petroleum Refinery, Ammonia Production, Methanol Production, Transportation, Power Generation, and Others) And By Geography – Covid-19 Impact Analysis, Post Covid Analysis, Opportunities, Trends And Forecast From 2021 to 2034
The global Hydrogen Generation market was valued at $165.32 billion in 2023 and is anticipated to grow at a CAGR of 10.84% from 2024 to 2034. This growth is attributed to several macro and microeconomic factors such as
Government regulation for desulfurization and greenhouse gas emissionGovernment regulation related to limiting the sulfur content and reducing the greenhouse gas emission has increased the demand for the hydrogen generation market. These environmental policies cater to broader range of improving the air quality and climate change mitigation. These stringent government regulation create a favourable environment for producing hydrogen as a clean source of energy and driving both supply and demand of hydrogen. Hydrogen are majorly used in desulfurization of fuels in the industrial sector. Guidelines mandating the reduction of sulfur content in gasoline and diesel to meet rigorous air quality standards. The Sulfur compounds in fuels contribute to the formation of acid rain and particulate matter, which have adverse health and environmental impacts. Hydrogen is used in the hydrodesulfurization process, which removes sulfur from crude oil during refining. As governments around the world tighten up sulfur emission standards, refineries are constrained to invest in technologies that rely on hydrogen, thereby boosting the hydrogen generation market. Governments are also implementing regulations and setting ambitious targets to reduce GHG emissions in response to the growing threat of climate change. These policies are encouraging the adoption of low-carbon and renewable energy sources driving the hydrogen generation market growth.
Further several factors restraining the market growth include
High Production CostThe high cost of producing hydrogen has been major factor hindering the growth of the market. The high cost includes expense of raw materials, technological complexity, and energy consumption, which collectively make hydrogen production less economically viable compared to conventional energy sources. The high cost of raw material includes the production of green hydrogen through electrolysis, the cost of electrolyzers, which require precious metals such as platinum and iridium for their catalysts, can be substantial. The procurement and maintenance of these high-performance materials add to the overall capital expenditure. Likewise, the infrastructure needed for hydrogen production, storage, and distribution is capital-intensive, further inflating costs.
Growing demand for clean energy and increase in the use of hydrogen in various industrial process are expected to generate higher avenues during the forecast period.In the wake of the COVID-19 pandemic, supply chain disruptions have led to supply shortages or lower demand in the Hydrogen Generation market. The pandemic has caused a decline in new orders and a corresponding decrease in production.
This section will analyze how COVID-19 has impacted supply chains, leading to shortages and lower demand for Hydrogen Generation.
In terms of COVID-19 impact, the Hydrogen Generation market report also includes the following data points:Impact on Hydrogen Generation market size
Operating Weights Trend, Preferences, and Budget Impact
Regulatory Framework/Outdoor Policies
Key Players' Strategy to Tackle Negative Impact/Post-COVID Strategies
Opportunity in the Hydrogen Generation market
Key Insight in the report:The global Hydrogen Generation market report covers an executive summary, market dynamics, COVID impact & post-COVID scenario, market size and forecast, competitive intelligence, market positioning, and Product Types.
Our report covers extensive competitive intelligence which includes the following data points:Business Overview
Business Segment Data
Financial Data
Product Type Segment Analysis and Specification
Recent Development and Company Strategy Analysis
SWOT Analysis
Hydrogen Generation Market Segmentation:Component
Blue Hydrogen
Green Hydrogen
Grey Hydrogen
Delivery Mode
Captive
Merchant
Technology
Steam Methane Reforming (SMR)
Partial Oxidation (POX)
Coal Gasification
Electrolysis
Others
Application
Petroleum Refinery
Ammonia Production
Methanol Production
Transportation
Power Generation
Others
Region/ Countries Covered:North America
US
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
BeNeLux
Nordic
Rest of Europe
Asia Pacific
China
Japan
Australia
India
South Korea
Thailand
Indonesia
Malaysia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Egypt
South Africa
Rest of Middle East & Africa
Key Players Analyzed in the Report:Linde Plc
Air liquide
Uniper SE
Air Product and Chemical Inc
Messer Griesheim GMBH
Fuelcell energy inc
Enapter S.r.l.
ITM Power PLC
Green Hydrogen Systems
Starfire Energy