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$180bn by 2024,Hydrogen Generation Market - Competitive Market Share & Forecast: Denko K.K., Messer Group GmbH, Caloric Anlagenbau GmbH, Nuvera Fuel Cells, LLC, Xebec Adsorption Inc, Taiyo Nippon Sanso Corporation, Hydrogenics, Praxair Technology

Hydrogen Generation Market

Hydrogen Generation Market

Global Market Insights, Inc. present the report on Hydrogen Generation Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2016-2024.

Global Hydrogen Generation Market is expected to grow at over 5% CAGR to surpass USD 186 billion by 2024. Increasing residual processing demand along with stringent specification for cleaner fuel will stimulate the industry growth. Government has introduced several regulations including Tier 3 under the Gasoline Sulfur Fuel program to curb sulfur emission. The aim of the program is to ensure that gasoline sulfur content should not be more than 10 ppm.

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Ability to crack long chain hydrocarbon into shorter chains to form value added products during refinery process including hydrodesulphurization and hydrocracking will make its adoption favorable.

Growing investment towards the expansion and upgradation of refinery to meet the sulfur emission regulations will stimulate the hydrogen generation market share. In 2017, Exxon Mobil announced to invest USD 20 billion to expansion of refining and chemical plants on the U.S. gulf coast by 2020. Increasing petroleum product consumption demand will further complement the business growth. In 2017, the gasoline demand increased from 210,000 bpd to 9,312,000 bpd.

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Growth drivers
• Increasing demand for clean fuel energy
• Stringent government regulation towards Desulphurization of Petroleum Products
• Deteriorating crude oil quality
Industry pitfalls & challenges
• Transportation & Storage Issues

Positive outlook towards metal and chemical industry including ammonia and methanol will propel the hydrogen generation market. Increasing demand for metal ore reduction product from metal industry will favor the industry landscape.

Low price and ease availability of natural gas will positively impact the Steam reformer hydrogen generation market. Ability to produce H2 more efficiently i.e. 75% over other alternate will further complement industry growth. Electrolysis hydrogen generation market is predicted to witness grow over 6% by 2024. Ability to split H2O into oxygen and H2 will fuel the industry growth. The process is suitable for small scale distributed hydrogen production.

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Global Hydrogen Generation Market by Delivery Mode
• Captive
• Merchant
Global Hydrogen Generation Market by Process
• Steam Reformer
• Electrolysis
Global Hydrogen Generation Market by Application
• Petroleum Refinery
• Chemical
• Metal

Metal application for 2015 was valued over USD 5 billion. Growing demand for steel from automobile and construction sector will propel the business growth.
U.S. hydrogen generation Market is predicted to witness growth over 4% by 2024. Rapid fossil fuel depletion along with increasing focus towards adoption of renewable resource to curb greenhouse gas emission will positively impact the industry growth. Escalating demand for ammonia from fertilizer industry will further complement the industry growth.

Renovation and expansion of refinery existing facility will favor the Venezuela hydrogen generation market share. In 2017, Venezuela and Jamaica signed an agreement of worth USD 1 billion for Petrojam Refinery Expansion Project. The expansion will increase refinery capacity from 30,000bpd to 50,000 bpd.

Growing demand for nitrogen rich fertilizers including urea, DAP, MAP will positively impact the China Hydrogen generation market over the forecast period.
Germany accounted for over 15% of Europe hydrogen generation market share in 2015. Growing chemical demand from food and construction industry will augment industry. In 2015, the chemical consumption was reached from USD 158.25 billion in 2014 to USD 170.13 billion.

Key participants in hydrogen generation market are Taiyo Nippon Sanso, Xebec Adsorption, Hydrogenics, Air Products and Chemicals, Nuvera Fuel Cells, Caloric Anlagenbau, Praxair Technology, Air Liquide, Messer Group, Iwatani Corporation, Linde and Showa Denko.

Related Report:
Middle East Water Heater Market- https://www.gminsights.com/industry-analysis/middle-east-water-heater-market
Gas Pipeline Infrastructure Market- https://www.gminsights.com/industry-analysis/gas-pipeline-infrastructure-market

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 methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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: www.gminsights.com

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