Press release
Global hydrogen generator market share is consolidated. Major industry participants include Linde AG, Hydrogenics Corporation, and Air Products & Chemicals Inc. Other notable participants include Idroenergy, Air Liquide SA, Praxair Inc., Airgas Inc., Park
Increasing demand for low emission fuel coupled with growing need to reduce fossil fuel dependency will positively encourage hydrogen generator market over the forecast timeframe. In addition, abundant availability of low cost natural gas and increasing hydrogen application across food and beverage to avoid viruses & bacteria will further complement the business growth.
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Refinery application is predicted to reach over USD 100 million by 2024 owing to construction of new refineries. Increasing use of hydrogen to process crude oil into value added fuel and in other processes including hydrocracking will positively impact the hydrogen generator Market for refinery application. In March 2017, MMEX Resources announced its plan to build a 50,000 BOPD refinery in Pecos County which will cost around USD 450 million.
In the U.S., growing fuel cells electric vehicles industry has resulted to high demand for hydrogen fueling stations which will stimulate the U.S. hydrogen generator market share by 2024. Shale gas exploration in the country will further compliment business growth for refinery application.
Onsite hydrogen generator market is projected to expand at more than 5% growth from 2016 to 2024. Increasing demand for hydrogen in O&G industry, refineries and others owing to its low emission characteristics is predicted to boost the demand in future.
Steam reformer hydrogen generator market was valued over USD 660 million in 2015. The process provides hydrogen gas from fuels of hydrocarbon including natural gas which contains methane, and methanol. Increasing demand for hydrogen in production and processing of chemicals is predicted to propel industry growth during the forecast timeframe.
Increasing investment towards innovative technologies and renewable installations will propel the demand of automated exploration equipment for optimizing energy consumption. New technologies including genomic solutions and machine learning for decreasing labor costs, sharing through cloud-based networks, collecting data will create a high potential for a shift towards the adoption of this equipment.
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Chemical processing was valued more than USD 460 million in 2015. Rising chemical processing activities which uses hydrogen as feedstock is anticipated to fuel hydrogen generator market during the forecast period.
Major participants in the industry include Linde AG, Air Products & Chemicals, Hydrogenics Corporation. Other notable participants include Air Liquide SA, Idroenergy, Praxair, ParkarBalston, Airgas, and McPhy Energy.
Report Content
Chapter 1. Methodology and Scope
1.1. Research methodology
1.1.1. Initial data exploration
1.1.2. Statistical modeling and forecast
1.1.3. Industry insights and validation
1.2. Data sources
Chapter 2. Executive Summary
2.1. Hydrogen generator industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Regional trends
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