What's Driving the Hydrogen Generator Market Trends? | Top Companies are Hydrogenics Corporation, Linde A.G, McPhy Energy, Idroenergy, Praxair Inc., Air Liquide SA
The global hydrogen generator market share has been broadly classified on product basis as onsite and portable generator. Onsite hydrogen generators market, owing to their wide application scope across oil and gas, chemical processing and refinery sector should continue to dominate demand. In addition, portable generator is projected to expand at 5.8% growth, it produces temporary energy which finds application in transportation and remote construction site. Hydrogen Generator Market size is expected to reach USD 1.32 billion by 2024; according to a new research report.
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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.
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.
Global hydrogen generator market share is fairly consolidated. Major industry players include Hydrogenics Corporation, Linde A.G, and Air Products &Chemicals Inc. Other significant market share contributors are Air Liquide SA, Idroenergy, Praxair Inc., McPhy Energy, Airgas Inc., and ParkarBalston.
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.
Key insights from the report include:
Electrolysis process is forecast to reach USD 225 million by 2024. Chemical processing was valued at over USD 480 million in 2015. Increasing chemical processing activities where hydrogen is used as feedstock is forecast to drive hydrogen generator market size.
U.S. hydrogen generator market size accounted more than 25% of global share in 2015. Growing fuel cells electric vehicles (FCEV) industry in the region has increasing demand for hydrogen fueling stations will stimulate demand.
Asia Pacific, led by China, Japan, India, and South Korea, market is estimated to witness gains at over 6% CAGR up to 2024. Stringent low emission norms coupled with rapid industrialization in the region is anticipated to drive hydrogen generator demand in the region.
Table of Contents:
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 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Regional trends
Chapter 3. Hydrogen Generator Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.4 Technology & innovation trends
3.5. Industry Impact forces
3.5.1. Growth drivers
188.8.131.52. Increasing demand for clean fuel
184.108.40.206. Stringent regulatory norm to minimize emissions.
220.127.116.11. Growing electricity demand
3.5.2. Industry pitfalls & challenges
18.104.22.168. Transportation & distribution issues attached with hydrogen
22.214.171.124. Issues related with warranty and installation
3.6. Regulatory trends
3.7. Growth potential analysis
3.7.1. New business models
3.8. Porter's analysis
3.9. Company market share analysis, 2015
3.10. PESTEL analysis
Chapter 4. Hydrogen Generator Industry Product Insights
Chapter 5. Hydrogen Generator Industry Process Insights
Chapter 6. Hydrogen Generator Industry Capacity Insights
Chapter 7. Hydrogen Generator Industry Application Insights
Chapter 8. Hydrogen Generator Industry Regional Insights
Chapter 9. Hydrogen Generator Market Company Profiles
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