Press release
Hydrogen Generation Market Key Players are Ally Hi-Tech, Caloric Anlagenbau, Nuvera Fuel Cells, Plug Power, Nel ASA, Taiyon Nippon Sanso
Hydrogen Generation Market
Hydrogen is generated from two processes known as electrolysis and steam reforming process. Global hydrogen generation market revenue from electrolysis process is expected to grow at a rate of 5% over 2016-2024. Hydrogen generation market size from steam reforming process is forecast to witness a high growth over the coming seven years, owing to lower natural gas costs along with its easy availability.
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Hydrogen generator finds varied applications across metal, construction, petroleum refinery, glass, propellant fuel, chemical, automobile, and semiconductor sectors. Chemical sector, which accounted for over half of hydrogen generation market share in 2015, will grow significantly over the coming timeframe. The growth can be credited to rising demand for ammonia from agricultural sector as well as its rampant use in urea production.
Key Manufacturers: Air Liquide SA, Air Products & Chemicals, Hydrogenics Corporation, Iwatani Corporation, Messer Group, Showa Denko, Ally Hi-Tech, Caloric Anlagenbau, Nuvera Fuel Cells, Plug Power, Nel ASA, Taiyon Nippon Sanso, Ballard Power Systems, Mahler AGS
Hydrogen generation market revenue in the petroleum refinery sector will grow substantially over the coming years as a result of its wide use in the hydrocracking process along with high preference for petroleum products such as diesel, gasoline, etc.
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Taking into consideration the global outlook, APAC hydrogen generation market revenue will witness a substantial growth over the coming seven years. The growth can be attributed to heavy demand for petroleum products from refineries. India and China are expected to be the key regional revenue contributors.
Europe hydrogen generation market is projected to observe a substantial growth over the next few years. Rising use of chemicals in construction and food & beverages sector will positively impact the regional growth. Germany is expected to contribute significantly towards the regional revenue share.
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