Global Hydrogen Generation Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hydrogen Generation Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Hydrogen generation is the family of industrial methods for generating hydrogen gas. The majority of hydrogen is produced from fossil fuels by steam reforming of natural gas, partial oxidation of methane, and coal gasification. Other methods of Hydrogen generators include Traditional Alkaline Electroliser, PEM Electroliser, etc.

Market Overview:

The latest research study on the global Hydrogen Generation market finds that the global Hydrogen Generation market reached a value of USD 163.94 million in 2022. It’s expected that the market will achieve USD 322.52 million by 2028, exhibiting a CAGR of 11.94% during the forecast period.

Influence of COVID-19 Outbreak on Hydrogen Generation Industry Development

In the short term, the sharp year-on-year decline in Hydrogen Generation is due to the impact of epidemics. The recovery rate of downstream projects such as power plants and industrial sectors is slower than the same period. However, considering the long construction period of downstream related projects of Hydrogen Generation, the demand has certain rigidity. The impact of COVID-19 on the small and medium-sized Hydrogen Generation will be more severe, with tight funds and increased credit risk, which will have a certain negative impact on the business activities of Hydrogen Generation.
In the long term, the impact of the epidemic is more of a delay in the demand for Hydrogen Generation, rather than eliminating it. In many countries, after outbreaks, investment in infrastructure investment areas such as power grids is very likely to occur, which will benefit sales in the Hydrogen Generation market. Since the demand for equipment renewal to drive this round of Hydrogen Generation sales growth has been gradually released, it is expected that the sales growth rate of Hydrogen Generation of major enterprises will increase.

Hydrogen Generation Market Drivers

Decarbonization means decreasing average carbon intensity of primary energy over time. Decarbonization of the global energy system is one of the biggest challenges faced today and has raised concerns for green energy technology such as hydrogen and related products. Hydrogen is a clean energy fuel and is expected to reduce the dependence on oil in the long term, thereby reducing the emission of greenhouse gases and other pollutants. Hydrogen can be abundantly produced from almost all the energy resources such as biomass, wind energy, solar energy, nuclear energy, and clean fossil fuels. The hydrogen thus produced can be used for power generation and will balance supply and demand in the future energy system. This factor has promoted the development of the hydrogen generation market.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Nel Hydrogen is one of the major players operating in the Hydrogen Generation market, holding a share of 26.47% in 2020.

Nel is a Norwegian company based in Oslo. Nel is a global company that provides solutions for the production, storage and distribution of hydrogen from renewable energy.

Hydrogenics is a developer and manufacturer of hydrogen production and fuel cell products based on water electrolysis and proton exchange membrane technology. Hydrogenics is divided into two business units: on-site power generation and power systems.

Segmentation Overview:

Among different product types, Traditional Alkaline Electroliser segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Industrial Gases segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Hydrogen Generation market covered in Chapter 3:

ITM Power
Nel Hydrogen
Hydrogenics
Asahi Kasei
Shandong Sakesaisi Hydrogen Energy Co.,Ltd.
Erredue SpA
Suzhou Jingli
McPhy
ldroenergy Spa
Areva H2gen
Giner
Siemens
Teledyne Energy Systems
TianJin Mainland

In Chapter 4 and Chapter 14.2, on the basis of types, the Hydrogen Generation market from 2018 to 2029 is primarily split into:

Traditional Alkaline Electroliser
PEM Electroliser

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hydrogen Generation market from 2018 to 2029 covers:

Power Plants
Steel Plant
Electronics and Photovoltaics
Industrial Gases
Energy Storage or Fueling for FCEV's
Power to Gas
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)