Hydrogen Generation Market Forecasts to 2030 – Global Analysis By Source (Coal, Natural Gas, Biomass and Other Sources), Delivery Mode (Captive, Merchant and Other Delivery Modes), Technology (Partial Oxidation, Steam Methane Reforming, Electrolysis and O

Hydrogen Generation Market Forecasts to 2030 – Global Analysis By Source (Coal, Natural Gas, Biomass and Other Sources), Delivery Mode (Captive, Merchant and Other Delivery Modes), Technology (Partial Oxidation, Steam Methane Reforming, Electrolysis and Other Technologies), Application and By Geography


According to Stratistics MRC, the Global Hydrogen Generation Market is accounted for $196.07 billion in 2024 and is expected to reach $416.95 billion by 2030 growing at a CAGR of 13.4% during the forecast period. It refers to the process of producing hydrogen gas through various methods, typically for use as a clean energy source or industrial feedstock. Another approach involves steam reforming of natural gas or biomass, which produces hydrogen along with carbon dioxide as a byproduct. Additionally, solar or wind-powered electrolysis is gaining traction as a renewable method of hydrogen production, offering a sustainable alternative to fossil fuel-based techniques.

According to IEA, in January 2022, there were at least 50 blue hydrogen projects in the works around the world, with capacity expected to grow more than tenfold by 2030. According to the Energy Institute Statistical Review of World Energy, the oil refining capacity witnessed a growth rate of 0.5% between 2021 and 2022, whereas the annual growth rate in the last decade was 0.7%.

Market Dynamics:

Driver:

Increasing demand for clean energy

The growing demand for clean energy solutions has propelled the hydrogen generation market into a prominent position. Hydrogen, renowned for its versatility and zero-emission properties, is increasingly favored as a key component in the transition towards sustainable energy systems. As industries and governments worldwide commit to reducing carbon footprints, hydrogen emerges as a vital player in decarbonizing sectors such as transportation, industry, and power generation.

Restraint:

High initial investment

Building facilities for electrolysis or steam methane reforming, as well as ensuring safe storage and transportation of hydrogen, demands substantial capital outlay. This financial burden often dissuades potential investors and stakeholders from entering the market or expanding existing operations. The uncertainty surrounding returns on investment and regulatory frameworks further complicates financing arrangements. Consequently, many regions face delays or limitations in scaling up hydrogen production capacity, hindering the market's potential to become a prominent player in the transition towards cleaner energy solutions.

Opportunity:

Advancements in electrolysis technologies

Advancements in electrolysis technologies are revolutionizing the hydrogen generation market by offering more efficient, cost-effective, and sustainable methods for producing hydrogen. Traditional electrolysis involves splitting water molecules into hydrogen and oxygen using electricity. Recent innovations such as proton exchange membrane (PEM) electrolysis and solid oxide electrolysis cells (SOEC) have significantly improved the efficiency and scalability of hydrogen production. PEM electrolysis, for instance, operates at higher pressures and temperatures, resulting in faster reaction rates and lower energy consumption.

Threat:

Energy loss in value chain

Energy loss in the value chain poses a significant challenge to the growth of the hydrogen generation market. Hydrogen production involves several stages, from extraction or electrolysis to compression and transportation, each prone to energy losses. For instance, conventional methods like steam methane reforming suffer from energy loss during conversion and transportation of feedstocks. Similarly, electrolysis, though promising for green hydrogen production, faces efficiency losses during electricity generation and conversion. These losses not only decrease the overall efficiency of hydrogen production but also increase costs, making hydrogen less competitive against fossil fuels.

Covid-19 Impact:

Initially, the market experienced disruptions in supply chains and manufacturing processes due to lockdowns and restrictions imposed to curb the spread of the virus. The pandemic has therefore had an impact on the global market for hydrogen generation due to decreased demand and cash-deficit difficulties among small operators and clients. However, the pandemic also highlighted the importance of clean energy sources, leading to increased interest and investments in hydrogen as a sustainable alternative.

The Biomass segment is expected to be the largest during the forecast period

Biomass segment is expected to be the largest during the forecast period by offering a sustainable and renewable source for hydrogen production. Biomass, derived from organic materials such as agricultural residues, forestry waste, and organic municipal solid waste, can be converted into hydrogen through various thermochemical and biochemical processes like gasification, pyrolysis, and fermentation. This approach not only provides a reliable alternative to fossil fuels but also helps in reducing greenhouse gas emissions, thus addressing environmental concerns.

The Partial Oxidation segment is expected to have the highest CAGR during the forecast period

Partial Oxidation segment is expected to have the highest CAGR during the forecast period. Partial Oxidation involves reacting hydrocarbons with oxygen, typically in the presence of a catalyst, to generate hydrogen gas. This process offers several advantages, including high conversion efficiency, versatility in feedstock selection, and relatively low operational costs compared to traditional methods like steam methane reforming. Moreover, POX can utilize a variety of feedstocks such as natural gas, coal, or biomass, making it adaptable to different geographical and economic contexts.

Region with largest share:

By harnessing renewable energy sources such as wind and solar power, green hydrogen production significantly reduces carbon emissions, aligning with the region's ambitious climate goals, North America region commanded the largest market share during the projection period. This advancement not only addresses environmental concerns but also fosters energy independence and security by diversifying the energy mix. Moreover, the scalability and versatility of green hydrogen make it a promising solution for decarbonizing various sectors, including transportation and power generation across the region.

Region with highest CAGR:

Europe region is poised to witness profitable growth over the extrapolated period. Stricter emissions targets and the pursuit of carbon neutrality are driving governments to incentivize the regional adoption of hydrogen technologies. Policies such as the European Green Deal and national hydrogen strategies allocate funding for research, development and infrastructure, fostering innovation and market growth. Additionally, regulatory frameworks provide certainty for investors, encouraging private sector involvement in scaling up hydrogen production and distribution across the region.

Key players in the market

Some of the key players in Hydrogen Generation market include Air Liquide S.A., Ballard Power Systems, Cummins Inc, Fuelcell Energy, Hiringa Energy Limited, ITM Power, Plug Power, Praxair Inc and Siemens.

Key Developments:

In October 2023, H2B2, a technology company with a portfolio in Hydrogen production systems, unveiled the green hydrogen plant, which is expected to become operational in North America, the SoHyCal facility located in Fresno, California, United States. The project envisages 100 percent clean hydrogen production using PEM technology.

In October 2023, Hygenco Green Energies announced its plans to operate and construct a cent percent green H2 gas plant in Maharashtra, India. The company also plans to supply green hydrogen and green oxygen to Sterlite Technologies Ltd. This is expected to become one of the first hydrogen Generation Plants in Maharashtra.

In May 2023, the Tokyo Tech InfoSyEnergy Research and Education Consortium, in collaboration with the Tokyo Tech Academy of Energy and Informatics, introduced a fuel cell capable of producing electricity using a combination of hydrogen and hydrogen derived from waste plastic materials.

In February 2023, the leading Indian oil company, Indian Oil Corporation (IOC), embarked on a green transformation strategy worth INR 2 trillion, with the aim of achieving net-zero emissions from its operational activities by 2046. As part of this initiative, Indian Oil Corporation plans to establish green hydrogen facilities at all of its refineries.

Sources Covered:
• Coal
• Natural Gas
• Biomass
• Other Sources

Delivery Modes Covered:
• Captive
• Merchant
• Other Delivery Modes

Technologies Covered:
• Partial Oxidation
• Steam Methane Reforming
• Electrolysis
• Other Technologies

Applications Covered:
• Power Generation
• Petroleum Refining
• Transportation
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Hydrogen Generation Market, By Source
5.1 Introduction
5.2 Coal
5.3 Natural Gas
5.4 Biomass
5.5 Other Sources
6 Global Hydrogen Generation Market, By Delivery Mode
6.1 Introduction
6.2 Captive
6.3 Merchant
6.4 Other Delivery Modes
7 Global Hydrogen Generation Market, By Technology
7.1 Introduction
7.2 Partial Oxidation
7.3 Steam Methane Reforming
7.4 Electrolysis
7.5 Other Technologies
8 Global Hydrogen Generation Market, By Application
8.1 Introduction
8.2 Power Generation
8.3 Petroleum Refining
8.4 Transportation
8.5 Other Applications
9 Global Hydrogen Generation Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Air Liquide S.A.
11.2 Ballard Power Systems
11.3 Cummins Inc
11.4 Fuelcell Energy
11.5 Hiringa Energy Limited
11.6 ITM Power
11.7 Plug Power
11.8 Praxair Inc
11.9 Siemens
List of Tables
Table 1 Global Hydrogen Generation Market Outlook, By Region (2022-2030) ($MN)
Table 2 Global Hydrogen Generation Market Outlook, By Source (2022-2030) ($MN)
Table 3 Global Hydrogen Generation Market Outlook, By Coal (2022-2030) ($MN)
Table 4 Global Hydrogen Generation Market Outlook, By Natural Gas (2022-2030) ($MN)
Table 5 Global Hydrogen Generation Market Outlook, By Biomass (2022-2030) ($MN)
Table 6 Global Hydrogen Generation Market Outlook, By Other Sources (2022-2030) ($MN)
Table 7 Global Hydrogen Generation Market Outlook, By Delivery Mode (2022-2030) ($MN)
Table 8 Global Hydrogen Generation Market Outlook, By Captive (2022-2030) ($MN)
Table 9 Global Hydrogen Generation Market Outlook, By Merchant (2022-2030) ($MN)
Table 10 Global Hydrogen Generation Market Outlook, By Other Delivery Modes (2022-2030) ($MN)
Table 11 Global Hydrogen Generation Market Outlook, By Technology (2022-2030) ($MN)
Table 12 Global Hydrogen Generation Market Outlook, By Partial Oxidation (2022-2030) ($MN)
Table 13 Global Hydrogen Generation Market Outlook, By Steam Methane Reforming (2022-2030) ($MN)
Table 14 Global Hydrogen Generation Market Outlook, By Electrolysis (2022-2030) ($MN)
Table 15 Global Hydrogen Generation Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 16 Global Hydrogen Generation Market Outlook, By Application (2022-2030) ($MN)
Table 17 Global Hydrogen Generation Market Outlook, By Power Generation (2022-2030) ($MN)
Table 18 Global Hydrogen Generation Market Outlook, By Petroleum Refining (2022-2030) ($MN)
Table 19 Global Hydrogen Generation Market Outlook, By Transportation (2022-2030) ($MN)
Table 20 Global Hydrogen Generation Market Outlook, By Other Applications (2022-2030) ($MN)
Table 21 North America Hydrogen Generation Market Outlook, By Country (2022-2030) ($MN)
Table 22 North America Hydrogen Generation Market Outlook, By Source (2022-2030) ($MN)
Table 23 North America Hydrogen Generation Market Outlook, By Coal (2022-2030) ($MN)
Table 24 North America Hydrogen Generation Market Outlook, By Natural Gas (2022-2030) ($MN)
Table 25 North America Hydrogen Generation Market Outlook, By Biomass (2022-2030) ($MN)
Table 26 North America Hydrogen Generation Market Outlook, By Other Sources (2022-2030) ($MN)
Table 27 North America Hydrogen Generation Market Outlook, By Delivery Mode (2022-2030) ($MN)
Table 28 North America Hydrogen Generation Market Outlook, By Captive (2022-2030) ($MN)
Table 29 North America Hydrogen Generation Market Outlook, By Merchant (2022-2030) ($MN)
Table 30 North America Hydrogen Generation Market Outlook, By Other Delivery Modes (2022-2030) ($MN)
Table 31 North America Hydrogen Generation Market Outlook, By Technology (2022-2030) ($MN)
Table 32 North America Hydrogen Generation Market Outlook, By Partial Oxidation (2022-2030) ($MN)
Table 33 North America Hydrogen Generation Market Outlook, By Steam Methane Reforming (2022-2030) ($MN)
Table 34 North America Hydrogen Generation Market Outlook, By Electrolysis (2022-2030) ($MN)
Table 35 North America Hydrogen Generation Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 36 North America Hydrogen Generation Market Outlook, By Application (2022-2030) ($MN)
Table 37 North America Hydrogen Generation Market Outlook, By Power Generation (2022-2030) ($MN)
Table 38 North America Hydrogen Generation Market Outlook, By Petroleum Refining (2022-2030) ($MN)
Table 39 North America Hydrogen Generation Market Outlook, By Transportation (2022-2030) ($MN)
Table 40 North America Hydrogen Generation Market Outlook, By Other Applications (2022-2030) ($MN)
Table 41 Europe Hydrogen Generation Market Outlook, By Country (2022-2030) ($MN)
Table 42 Europe Hydrogen Generation Market Outlook, By Source (2022-2030) ($MN)
Table 43 Europe Hydrogen Generation Market Outlook, By Coal (2022-2030) ($MN)
Table 44 Europe Hydrogen Generation Market Outlook, By Natural Gas (2022-2030) ($MN)
Table 45 Europe Hydrogen Generation Market Outlook, By Biomass (2022-2030) ($MN)
Table 46 Europe Hydrogen Generation Market Outlook, By Other Sources (2022-2030) ($MN)
Table 47 Europe Hydrogen Generation Market Outlook, By Delivery Mode (2022-2030) ($MN)
Table 48 Europe Hydrogen Generation Market Outlook, By Captive (2022-2030) ($MN)
Table 49 Europe Hydrogen Generation Market Outlook, By Merchant (2022-2030) ($MN)
Table 50 Europe Hydrogen Generation Market Outlook, By Other Delivery Modes (2022-2030) ($MN)
Table 51 Europe Hydrogen Generation Market Outlook, By Technology (2022-2030) ($MN)
Table 52 Europe Hydrogen Generation Market Outlook, By Partial Oxidation (2022-2030) ($MN)
Table 53 Europe Hydrogen Generation Market Outlook, By Steam Methane Reforming (2022-2030) ($MN)
Table 54 Europe Hydrogen Generation Market Outlook, By Electrolysis (2022-2030) ($MN)
Table 55 Europe Hydrogen Generation Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 56 Europe Hydrogen Generation Market Outlook, By Application (2022-2030) ($MN)
Table 57 Europe Hydrogen Generation Market Outlook, By Power Generation (2022-2030) ($MN)
Table 58 Europe Hydrogen Generation Market Outlook, By Petroleum Refining (2022-2030) ($MN)
Table 59 Europe Hydrogen Generation Market Outlook, By Transportation (2022-2030) ($MN)
Table 60 Europe Hydrogen Generation Market Outlook, By Other Applications (2022-2030) ($MN)
Table 61 Asia Pacific Hydrogen Generation Market Outlook, By Country (2022-2030) ($MN)
Table 62 Asia Pacific Hydrogen Generation Market Outlook, By Source (2022-2030) ($MN)
Table 63 Asia Pacific Hydrogen Generation Market Outlook, By Coal (2022-2030) ($MN)
Table 64 Asia Pacific Hydrogen Generation Market Outlook, By Natural Gas (2022-2030) ($MN)
Table 65 Asia Pacific Hydrogen Generation Market Outlook, By Biomass (2022-2030) ($MN)
Table 66 Asia Pacific Hydrogen Generation Market Outlook, By Other Sources (2022-2030) ($MN)
Table 67 Asia Pacific Hydrogen Generation Market Outlook, By Delivery Mode (2022-2030) ($MN)
Table 68 Asia Pacific Hydrogen Generation Market Outlook, By Captive (2022-2030) ($MN)
Table 69 Asia Pacific Hydrogen Generation Market Outlook, By Merchant (2022-2030) ($MN)
Table 70 Asia Pacific Hydrogen Generation Market Outlook, By Other Delivery Modes (2022-2030) ($MN)
Table 71 Asia Pacific Hydrogen Generation Market Outlook, By Technology (2022-2030) ($MN)
Table 72 Asia Pacific Hydrogen Generation Market Outlook, By Partial Oxidation (2022-2030) ($MN)
Table 73 Asia Pacific Hydrogen Generation Market Outlook, By Steam Methane Reforming (2022-2030) ($MN)
Table 74 Asia Pacific Hydrogen Generation Market Outlook, By Electrolysis (2022-2030) ($MN)
Table 75 Asia Pacific Hydrogen Generation Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 76 Asia Pacific Hydrogen Generation Market Outlook, By Application (2022-2030) ($MN)
Table 77 Asia Pacific Hydrogen Generation Market Outlook, By Power Generation (2022-2030) ($MN)
Table 78 Asia Pacific Hydrogen Generation Market Outlook, By Petroleum Refining (2022-2030) ($MN)
Table 79 Asia Pacific Hydrogen Generation Market Outlook, By Transportation (2022-2030) ($MN)
Table 80 Asia Pacific Hydrogen Generation Market Outlook, By Other Applications (2022-2030) ($MN)
Table 81 South America Hydrogen Generation Market Outlook, By Country (2022-2030) ($MN)
Table 82 South America Hydrogen Generation Market Outlook, By Source (2022-2030) ($MN)
Table 83 South America Hydrogen Generation Market Outlook, By Coal (2022-2030) ($MN)
Table 84 South America Hydrogen Generation Market Outlook, By Natural Gas (2022-2030) ($MN)
Table 85 South America Hydrogen Generation Market Outlook, By Biomass (2022-2030) ($MN)
Table 86 South America Hydrogen Generation Market Outlook, By Other Sources (2022-2030) ($MN)
Table 87 South America Hydrogen Generation Market Outlook, By Delivery Mode (2022-2030) ($MN)
Table 88 South America Hydrogen Generation Market Outlook, By Captive (2022-2030) ($MN)
Table 89 South America Hydrogen Generation Market Outlook, By Merchant (2022-2030) ($MN)
Table 90 South America Hydrogen Generation Market Outlook, By Other Delivery Modes (2022-2030) ($MN)
Table 91 South America Hydrogen Generation Market Outlook, By Technology (2022-2030) ($MN)
Table 92 South America Hydrogen Generation Market Outlook, By Partial Oxidation (2022-2030) ($MN)
Table 93 South America Hydrogen Generation Market Outlook, By Steam Methane Reforming (2022-2030) ($MN)
Table 94 South America Hydrogen Generation Market Outlook, By Electrolysis (2022-2030) ($MN)
Table 95 South America Hydrogen Generation Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 96 South America Hydrogen Generation Market Outlook, By Application (2022-2030) ($MN)
Table 97 South America Hydrogen Generation Market Outlook, By Power Generation (2022-2030) ($MN)
Table 98 South America Hydrogen Generation Market Outlook, By Petroleum Refining (2022-2030) ($MN)
Table 99 South America Hydrogen Generation Market Outlook, By Transportation (2022-2030) ($MN)
Table 100 South America Hydrogen Generation Market Outlook, By Other Applications (2022-2030) ($MN)
Table 101 Middle East & Africa Hydrogen Generation Market Outlook, By Country (2022-2030) ($MN)
Table 102 Middle East & Africa Hydrogen Generation Market Outlook, By Source (2022-2030) ($MN)
Table 103 Middle East & Africa Hydrogen Generation Market Outlook, By Coal (2022-2030) ($MN)
Table 104 Middle East & Africa Hydrogen Generation Market Outlook, By Natural Gas (2022-2030) ($MN)
Table 105 Middle East & Africa Hydrogen Generation Market Outlook, By Biomass (2022-2030) ($MN)
Table 106 Middle East & Africa Hydrogen Generation Market Outlook, By Other Sources (2022-2030) ($MN)
Table 107 Middle East & Africa Hydrogen Generation Market Outlook, By Delivery Mode (2022-2030) ($MN)
Table 108 Middle East & Africa Hydrogen Generation Market Outlook, By Captive (2022-2030) ($MN)
Table 109 Middle East & Africa Hydrogen Generation Market Outlook, By Merchant (2022-2030) ($MN)
Table 110 Middle East & Africa Hydrogen Generation Market Outlook, By Other Delivery Modes (2022-2030) ($MN)
Table 111 Middle East & Africa Hydrogen Generation Market Outlook, By Technology (2022-2030) ($MN)
Table 112 Middle East & Africa Hydrogen Generation Market Outlook, By Partial Oxidation (2022-2030) ($MN)
Table 113 Middle East & Africa Hydrogen Generation Market Outlook, By Steam Methane Reforming (2022-2030) ($MN)
Table 114 Middle East & Africa Hydrogen Generation Market Outlook, By Electrolysis (2022-2030) ($MN)
Table 115 Middle East & Africa Hydrogen Generation Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 116 Middle East & Africa Hydrogen Generation Market Outlook, By Application (2022-2030) ($MN)
Table 117 Middle East & Africa Hydrogen Generation Market Outlook, By Power Generation (2022-2030) ($MN)
Table 118 Middle East & Africa Hydrogen Generation Market Outlook, By Petroleum Refining (2022-2030) ($MN)
Table 119 Middle East & Africa Hydrogen Generation Market Outlook, By Transportation (2022-2030) ($MN)
Table 120 Middle East & Africa Hydrogen Generation Market Outlook, By Other Applications (2022-2030) ($MN)

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