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
Global hydrogen generator industry has also been categorized on process basis (Steam Reformer, Electrolysis, Others). Steam reformer was largest process accounting at over 70% of global share in 2015. Whereas, rising electrolysis process in small scale hydrogen generator is likely drive industry growth.
Get a Sample Copy of this Report: @https://www.gminsights.com/request-sample/detail/677
Hydrogen generator market is further segregated on application basis as chemical processing, petroleum recovery, fuel cells, refinery, and others. Fuel cell market accounted over 15% of global share in 2015. Increasing fuel cells demand in residential and transport owing to its low emission characteristics is likely to complement industry growth.
Rising demand for low emission fuel coupled with increasing need to minimize fossil fuel dependency is forecast to boost hydrogen generators over the forecast timeframe. In addition, low cost availability of abundant natural gas is forecast to be key growth driving factor. Also, increasing hydrogen use across food & beverage to eliminate viruses and bacteria may further compliment growth. However, transportation cost and risk synced with hydrogen coupled with deficient storage infrastructure may hamper industry growth.
The government initiatives towards a sustainable environment by reducing fuel emissions and dependency on non-renewable energy resources also play a vital role in increasing the hydrogen generator market size. The rising trend of green fuel use across the industrial, commercial, and residential sectors will also heavily boost the industry share. Hydrogen generator offers high operational reliability and is considered to be a convenient and secure hydrogen storage and delivery source free from the hassles of cylinder handling.
The expanding automotive industry will bring enormous growth prospects for the overall market. Increasing adoption of electric vehicles is encouraging the growth of hydrogen fuel stations in turn stimulating the market growth. The government is also encouraging the use of electric vehicles over the conventional means of transport owing to the eco-friendliness, reduced fossil fuel dependency, and operational cost-effectiveness of the former.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/677
Key automobile manufacturers such as Ford Motors, Nissan, GM, Mercedes-Benz, Honda, Toyota, and Tesla Motors are also significantly sharing the electric vehicle business space. It is estimated that the global electric vehicle sale will surpass 7 million units by 2024. This will in turn result in a comprehensive increase in the fuel cell demand. Hydrogen generator application in the fuel cell market is anticipated to grow at a CAGR of 6% over the period of 2016-2024.
The refinery industry is another major growth prospect for the hydrogen generator market. It is estimated that the hydrogen consumption in refineries accounts for 12 billion standard cubic feet per day. The demand for hydrogen in the processing of crude oil into refined fuel such as gasoline and diesel and removing the impurities from these fuels are expected to catalyze the application growth. Hydrogen generator application in refineries is forecast to surpass USD 120 million by 2024. The food and beverage industry is also supporting the hydrogen demand owing to its application in removing contaminants such as bacteria and viruses from the food items.
The refinery, oil & gas, and chemical processing industries usually adopt the onsite installation method, which is predicted to dominate the industry with a CAGR of 5% over the timeframe of 2016-2024. Portable hydrogen generators are popular amongst the transportation and construction industries and are estimated to record an annual growth rate of 5.8% over the coming eight years.
Browse key industry insights spread across 85 pages with 106 market data tables & 9 figures & charts from the report @ https://www.gminsights.com/industry-analysis/hydrogen-generator-market
“Global hydrogen generator market is anticipated to grow at a CAGR of 5% over the period of 2016-2024.” North America market accounted for USD 300 million in 2015 and is estimated to witness substantial gains over the coming period. The growth can be attributed to the rising demand across power generating plants & refueling stations and growing trend of green fuel across this region. The U.S. and Canada will be the major revenue pockets for the North America hydrogen generator market.
Asia Pacific, primarily led by South Korea and Japan, will also grow significantly over the coming years owing to rising demand across the refinery sector, growth in the petroleum industry, and stringent government regulations across this region. The Asia Pacific market is estimated to register a CAGR of 6% over the period of 2016-2024.
Some of the major players in this market are Linde AG, Air Products & Chemicals, Inc., Hydrogenics Corporation, Air Liquide SA, McPhy Energy, Airgas Inc., Praxair Inc., and Idro Energy.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
Explore Our Blog @ http://algosonline.com/news
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your 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 here
News-ID: 1308962 • Views: …
More Releases from Global Market Insights, Inc.
Rare Sugar Market Top 3 Trends, Covid-19 Outbreak, Factors Driving, Threats, Cha …
Rising awareness regarding health & fitness and the subsequent shift in consumer trends towards low-calorie sweeteners will boost rare sugar market share over the forecast spell. Recent years have marked a steady rise in the prevalence of cardiovascular ailments, diabetes, and obesity, among other chronic conditions, which have triggered a massive change in consumer perceptions towards health.
This in turn has led to a surge in demand for various functional foods…
Global Selenium Yeast Market Industry Assessment, Trends, Competitive Landscape, …
The selenium yeast market is anticipated to register substantial gains on account of rising inclination towards organic additives in animal nutrition, with an aim to improve livestock health and production. Consumers are steadily becoming aware of the downsides associated with using synthetic additives. As a result, they are preferring selenium yeast feed grades over other counterparts to provide balanced nutrition to their livestock.
According to Global Market Insights Inc estimates…
Power Distribution Component Market Share, Size, Trends by 2025 | Leading Key pl …
Global Power Distribution Component Market Report offers market overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.
Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/3091
Voltage rating have acted as a standard industry protocol toward the installation of power components reliant on regulatory preference, deployment areas, and the group…
Prenatal Vitamin Ingredients Market New Entrants, Risk Factors, Market Expansion …
The rise in the instances of miscarriages on account of poor diet and hygiene will anchor the consumption of prenatal vitamin ingredients. Excessive intake of junk food has resulted in the scarcity of important nutrients in pregnant women that could adversely affect the fetus health and development. Furthermore, prenatal vitamin ingredients possess additional nutritional components that are not so easily sourced from regular food items and products.
Prenatal vitamin ingredients can…
More Releases for Hydrogen
Future Growth: Hydrogen Fuel Cell Drone Market Sees Promising Growth in 2022 Pea …
Worldwide "Hydrogen Fuel Cell Drone Market" 2022 Research Report presents a professional and complete analysis of the Global Hydrogen Fuel Cell Drone Market in the current situation. This report includes development plans and policies along with Hydrogen Fuel Cell Drone manufacturing processes and price structures. the reports 2022 research report offers an analytical view of the industry by studying different factors like Hydrogen Fuel Cell Drone Market growth, consumption volume,…
Hydrogen Station (Hydrogen Fueling Station ) Market 2022 | Detailed Report
Global Hydrogen Station (Hydrogen Fueling Station ) Market 2021-2027, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team.
Download FREE Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=4413013…
Hydrogen Energy Market 2020-28 infinite chains of hydrogen atoms holds surprisin …
Hydrogen energy involves the use of hydrogen and/or hydrogen-containing compounds to generate energy to be supplied to all practical uses needed with high energy efficiency, overwhelming environmental and social benefits, as well as economic competitiveness. Hydrogen is most commonly used in petroleum refining and fertilizer production, while transportation and utilities are emerging markets.
The Global Hydrogen Energy Market report clutch an inspection of main considerations fundamental for the overarching market players…
Increasing Use of Hydrogen Storage Tanks in Transportation Sector Driving Hydrog …
The hydrogen storage market is predicted to register substantial growth in the coming years, which is attributed to the increasing usage of hydrogen storage tanks in the transportation sector, rising requirement for low emission fuels, and growing consumption of ammonia and methanol across the world. As per the U.S. Department of Energy, hydrogen storage is considered as a major enabling technology for the advancements of hydrogen and fuel cell technologies…
Global Hydrogen Electrolyzer Market to 2025| Nel Hydrogen, McPhy, Hydrogenics, T …
Researchmoz added Most up-to-date research on "Global Hydrogen Electrolyzer Market Insights, Forecast to 2025" to its huge collection of research reports.
Hydrogen, used across various industrial applications such as chemicals, electronics, glass, etc., is produced both as a principal product and a by-product. More than 90% of total hydrogen demand across the globe depends upon fossil fuel based resources. Only a small fraction of this demand is met by hydrogen produced…
Hydrogen Electrolyzers Market Outlook, Growth by Top Company: Nel Hydrogen, McPh …
The global hydrogen electrolyzer market is poised to witness significant growth and is expected to develop across key regions worldwide in the years to come. Future Market Insights has put forth a spectacular snapshot of the entire hydrogen electrolyzer market in its new research publication – “Hydrogen Electrolyzer Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027”. The research study stresses on the various developments, trends, opportunities, drivers and restraints…
