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 Pacific||42%|
|Top 5 players in Hydrogen Generation Market||Linde, Air Liquide, Air Products & Chemicals, Uniper, and Engie|
Key Market Insights
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
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:
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 Region and Country:
Global Hydrogen Generation Market 2022-2030: Report Coverage and Highlights
|Historical Data Available for||2017-2021|
|Market Analysis||USD Million for Value and Kilo Tons for Volume, and CAGR from 2022 to 2030|
|Key Regions Covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key Countries Covered||US, 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 Covered||System, Technology, Storage, Application|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and consulting company serving chemicals & materials, oil & gas, and alternate energy clients worldwide. ChemView Consulting serves clients in approximately 100 countries, with its office in the US and delivery centers in India.
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