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Hydrogen Generation Market

Hydrogen Generation Market

Hydrogen Generation Market Size, Trend Analysis & Competition Tracking By Technology (Coal Gasification, Steam Methane Reforming), By System (Merchant, Captive), By Application (Methanol Production, Ammonia Production, Petroleum Refining) - Global Market Insights 2019 to 2029

Hydrogen Generation Market
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Hydrogen Generation Market to Grow 2X amid Trend of Low-Cost, Clean Energy

Global hydrogen generation market exhibits an impressive growth trajectory of 7.5% CAGR during the forecast period (2019 - 2029). The declining cost of solar photovoltaics coupled with ascending sales of hydrogen fuel cell automobiles positively impact the hydrogen generation market. Production of low-carbon hydrogen at scale using fossil fuel furthers the adoption of hydrogen generation products in end-use industries. 

The emphasis on low-cost, clean energy gives impetus to hydrogen generation. From the US to Australia, governments across the globe are encouraging hydrogen deployment by combining incentives and generation targets.

Manufacturers of passenger cars particularly, enjoy the highest incentives for hydrogen adoption. The increasing demand for reducing carbon emissions from refinery activities continues to propagate hydrogen generation adoption through 2029.

Captive Hydrogen Generation to Stimulate Revenue

Cost of conveyance and distribution of hydrogen is propelling the demand for captive hydrogen generation systems. Omnipresent regulatory emphasis on reducing industrial pollution has forced manufacturers to capture by-product hydrogen produced in production processes.

Ease of installation and favorable price to performance ratio of captive hydrogen generation make this systems segment account for a majority share of over 86% of the total market value.

Hydrogen generation market forecast by Fact.MR

The segment will grow 3X through 2029. Countries such as the US, Russia have an extensive network of gas pipelines, adoption of which will result in cost effective and energy efficient hydrogen deliveries. The merchant systems segment offers the highest remunerative opportunities with a double digit growth rate during the forecast period.

East Asia and South Asia & Oceania Present Bankable Opportunities

North America accounts for over ¼ of the entire market value. Surging demand for oil & gas production to support robust economic development results in continuous demand for hydrogen generation. Modernization of small and medium sized industries further the demand for cost efficient alternatives such as captive hydrogen generation. Growth can also be attributed to comprehensive gas pipeline networks in North American countries.

The ease of hydrogen logistics acts as a central factor to the growth of the hydrogen generation market in this region. High pollution in Asian countries such as India, and China has created high demand for desulfurization of fuels to conserve the environment.

This positively impacts the adoption of hydro desulphurization (HDS) processes and ultimately increases the demand for hygron generation. In Asia Pacific, particularly East Asia and South Asia & Oceania present high growth opportunities during the projection period.

Strategic Partnerships to Shape Competition

Market players are targeting countries with a high-adoption rate of hydrogen fuel cell automotive. Governments with proposed investments in developing hydrogen refueling stations are popular target regions among major players. The market is consolidated with tier-1 players accounting for a majority of revenue share.

These organizations are forging strategic partnerships, merging and acquiring local players in key growth areas. Value additions in terms of footprint expansion, disruptive technologies such as solar based hydrogen generation systems garner the most profitable company valuations for local players.

Hydrogen generation market forecast by Fact.MR

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Recovering from COVID-19 Losses

The COVID-19 Pandemic has had a detrimental effect on oil & gas energy production of the world. Shale gas exploration projects have been put on hold. Existing oil & gas energy reserves are being deployed to sustain the need from essential transportation and logistics of healthcare products such as medical ventilators, and personal protective equipment.

However, normalization post COVID-19 will witness a surge in demand for onsite-hydrogen production systems as companies look to reduce dependency on merchant transportation. Market players can extract valuable lessons and future trends of the market by gauging the reaction of trade lockdown amid COVID-19.

Coronavirus affects people with underlying respiratory health conditions the most. This will increase the emphasis on carbon emission reduction from refinery activities and automotive.

Hence, after the pandemic market players can expect an increase in demand for hydrogen from desulphurization of refineries and adoption of hydrogen fuel cell based automotive.

Consumer trends such as residential application of solar power generation will further the sales of hydrogen generation post-COVID-19. Hydrogen generation market players stand to gain a competitive edge by early detection of remunerative opportunities in resurgent economies such as Singapore, Indonesia, and China.

Global Hydrogen Generation Market: In-Depth Assessment on Key Segments

The global hydrogen generation market is segmented on the basis of technology, system, application and region.

  • By Technology :

    • Coal Gasification
    • Steam Methane Reforming
    • Others
  • By System :

    • Merchant
    • Captive
  • By Application :

    • Methanol Production
    • Ammonia Production
    • Petroleum Refining
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.

- FAQs -

Global Hydrogen generation market to grow at 7.5% CAGR during the forecast period 2019-2029.
Captive hydrogen generation segment to hold the majority share of 86% of overall market value.

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