Global Hydrogen Generation Market

Hydrogen Generation Market Analysis and Opportunity Assessment by System (Captive, Merchant), by Technology (Steam Methane Reforming, Partial Oxidation of Oil, Coal Gasification, Electrolysis of Water, Others), by Storage (On-Board, Underground, Power-to-Gas), by Application (Petroleum Refinery, Ammonia Production, Methanol Production, Power Generation, Transportation, Others), by Region and by Country

Hydrogen Generation Market to Expand 1.3X by 2030

Category: Chemicals & Materials Published Date : May 2022 ID: CVC-0107-C Format: PDF Pages: 356

Hydrogen Generation Market Outlook

According to ChemView Consulting’s survey, the global Hydrogen Generation market accounted for US$ 150.9 Bn in 2022 and is predicted to increase at a CAGR of 8.9% between 2022 and 2030. The market is expanding due to the increasing use of fuel cells in power generation. Furthermore, market development is likely to be fuelled by favourable government regulations aimed at reducing emissions and desulphurization of refinery activities. Considering this, ChemView Consulting has projected the global market to reach US$ 298.5 Bn in 2030.

Estimated Year Value (2022)US$ 150.9 Bn
Projected Year Value (2030)US$ 298.5 Bn
Global Market Growth Rate (2022-2030)8.9%
Market Share of the Largest Region: Asia Pacific42%
Top 5 players in Hydrogen Generation MarketLinde, Air Liquide, Air Products & Chemicals, Uniper, and Engie

Key Market Insights

  • By 2050, demand for green hydrogen will have multiplied several times due to lower technology costs and the rising need to decarbonize the energy system, resulting in increased use in transportation, industry, and electricity.
  • Depending on global climate goals and the expansion of sector-specific activities, energy-efficiency measures, direct electrification, and the deployment of carbon-capture technologies, hydrogen consumption by 2050 might range from 150 to 500 million metric tonnes per year.
  • The merchant market is likely to be driven by increased large-scale hydrogen generation using water electrolysis and natural gas processes. Both water electrolysis and natural gas methods can yield merchant hydrogen. This strategy eliminates the demand for fuel transportation and, as a result, the requirement for additional hydrogen-producing infrastructure to be built.
  • In the future years, the market for hydrogen generation is projected to be driven by the rapid growth in demand for Fuel Cell Electric Vehicles (FCEV) in the Asia Pacific. Hydrogen is used in a variety of types of transportation, including buses, trains, and fuel cell electric vehicles (FCEV) (including marine, airplane, and drones).


Hydrogen Generation Market


Market Dynamics: Drivers, Opportunities and Trends Analysis

The market is being driven by government rules for desulfurization and greenhouse gas emissions. The United States, the European Union, Russia, and China are responsible for 65% of world emissions. The United States alone accounts for 25% of them. Sulfur obstructs the efficient operation of certain catalysts, resulting in increased methane emissions from oxidation catalysts and higher carbon dioxide emissions from more sophisticated technology. Sulfur also stifles the development of emission-control technology in a number of areas, including fuel-efficient gasoline engine designs, classic diesel as a fuel-efficient alternative, and advanced or hybrid diesel.

Green hydrogen and other carbon-neutral synthetic fuels might eventually replace gasoline as a transportation fuel and natural gas as a power production fuel. Hydrogen and synthetic fuels produced by Power-to-X are critical components in achieving a 100% renewable energy future. Key parties are concentrating on long-term planning in order to determine the best strategy to create future energy infrastructure and power production technology.

Market Segmental Analysis: By System, Technology, Storage, Application, By Region

  • Based on the system, the market is split into captive and merchant. Because it can manufacture hydrogen using both water electrolysis and natural gas methods, the merchant segment is predicted to develop significantly in the market. This eliminates the demand for fuel transportation and infrastructure to produce hydrogen.
  • Based on technology, the market is categorized into steam methane reforming, partial oxidation of oil, coal gasification, electrolysis of water, and others. Because of the accompanying benefits such as affordability, generation of hydrogen from conventional sources, and high conversion efficiency, because it is a sophisticated technology, the steam methane reforming sector is expected to dominate the market during the forecast period.
  • Regionally, the hydrogen generation market has been segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. Among these regions, North America is expected to dominate the overall hydrogen generation market region’s rising environmental concerns. Furthermore, the United States is one of the world’s early adopters of sustainable energy solutions in industries such as electricity generation, manufacturing, and transportation.

Competition Assessment

To be competitive in the market, major corporations are inventing sophisticated technology and producing new items. Mergers and acquisitions, as well as new product creation, are other competitive strategies.

Some of the key players present in the global Hydrogen Generation market are:

  • Air Liquide
  • Air Products and Chemicals
  • Iwatani
  • Hydrogenics
  • Linde
  • Praxair
  • Messer Group
  • Showa Denko
  • Ally Hi Tech
  • Caloric
  • Cummins
  • NEL Hydrogen
  • ITM Power
  • Green Hydrogen Systems
  • Electrochaea

Key Developments in Hydrogen Generation Market

In 2021, Cummins and Air Liquide have formed a joint venture to promote green hydrogen technology. Cummins has donated a 20-megawatt PEM electrolyzer system for green hydrogen generation, making it the world’s biggest in operation. The electrolyzer is located in Air Liquide’s hydrogen production facility in Bécancour, Quebec, and is capable of producing approximately 3,000 tonnes of hydrogen per year using clean hydropower.In 2020, ENGIE worked with Neste and CEA, a French research agency, to use renewable hydrogen to decarbonize a bio-refinery in Rotterdam. To manufacture green hydrogen, the project employs the world’s first multi-megawatt high-temperature electrolyzer.
In 2020, a strategic partnership agreement was inked by Air Products and ThyssenKrupp Uhde Chlorine Engineers (SCA). The two businesses will work together exclusively in important locations to build green hydrogen projects, using their complementary technical, engineering, and project execution skills.In 2019, Hydrogenics was acquired by Air Liquide in order to build Canada’s biggest PEM electrolyzer, with a capacity of 20 megawatts (MW) for the generation of low-carbon hydrogen (the facility will use hydropower). This 20 MW electrolyzer would double the current capacity of the company’s hydrogen facility in Bécancour, Québec.


Segments Covered in Report

By System:

  • Captive
  • Merchant

By Technology:

  • Steam Methane Reforming
  • Partial Oxidation of Oil
  • Coal Gasification
  • Electrolysis of Water
  • Others

By Storage:

  • On-Board
  • Underground
  • Power-to-Gas

By Application:

  • Petroleum Refinery
  • Ammonia Production
  • Methanol Production
  • Power Generation
  • Transportation
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Global Hydrogen Generation Market 2022-2030: Report Coverage and Highlights

  • Assessment of the historical and current Hydrogen Generation market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
  • Key drivers and restraints impacting market growth
  • Predictions on Critical Supply, Demand, and Technological trends and changes in consumer behaviour
  • Market Opportunity Analysis
  • Value Chain Analysis (List of Manufacturers, Distributors, Average Margins, etc.)
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping, Benchmarking, and Advantage Analysis
  • Market Share Analysis and Key Strategies Adopted by Top Players
  • Key Product Innovations and Regulatory Climate
  • Primary insights to understand what will shape the market growth over the next decade
  • COVID-19 Impact on Hydrogen generation Market and How to Navigate
  • Strategic Success Factors and Recommendation on Key Winning Strategies
Research ScopeDetails
Forecast Period2022-2030
Historical Data Available for2017-2021
Market AnalysisUSD Million for Value and Kilo Tons for Volume, and CAGR from 2022 to 2030
Key Regions CoveredNorth America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key Countries CoveredUS, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key Segments CoveredSystem, Technology, Storage, Application
Customization scopeAvailable upon Request
Pricing and purchase optionsAvailable upon Request


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