Hydrogen Generation Market Future Prospects 2023 with Leading Key Insights - Air Liquide, Linde, Praxair, Air Products and Chemicals, Ballard Power System

According to the new market research report "Hydrogen Generation Market by Generation, Application (Petroleum Refinery, Ammonia Production, Methanol Production, Transportation, Power Generation), Technology (Steam Reforming, Water Electrolysis & Others), Storage, and Region - Global Forecast to 2023", MarketsandMarkets: The hydrogen generation market is projected to reach USD 199.1 billion by 2023 from an estimated USD 135.5 billion in 2018, at a CAGR of 8.0%.

Browse 124 market data Tables and 48 Figures spread through 221 Pages and in-depth TOC on "Hydrogen Generation Market - Global Forecast to 2023"

https://www.marketsandmarkets.com/Market-Reports/hydrogen-generation-market-494.html

The hydrogen generation market is expected to register a CAGR of 8.0% from 2018 to 2023. The growing emphasis on decarbonizing energy end-use, increasing fuel demand in the transportation sector, and government regulations for desulphurization are few of the main factors driving the hydrogen generation market. Hydrogen is an indispensable element having an outstanding energy carrying capacity. It has widespread applications in various industries such as petrochemicals, agriculture, and electronics. As a clean fuel, it has a propitious future in the fuel cell technology and automobile industries.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=494

The captive segment will continue to dominate the hydrogen generation market, by generation type, during the forecast period

The hydrogen generation market is segmented, by generation type, into captive and merchant. The captive segment accounted for the largest market size in 2018. The dominance of the captive generation segment is expected to continue throughout the forecast period. The demand for captive hydrogen is primarily from petroleum refineries where it is used to reduce the sulfur content of diesel.

Transportation segment, by application, is projected to grow at the highest CAGR during the forecast period

Based on application, the hydrogen generation market has been segmented into petroleum refineries, ammonia production, methanol production, transportation, power generation, and others. Among these, the transportation segment is projected to register the highest growth during the forecast period. The growth of this segment is driven by the increasing market penetration of fuel cell cars and trucks, which can reduce emissions by over 30% compared with their gasoline-powered counterparts.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=494

Asia Pacific will continue to dominate the hydrogen generation market during the forecast period

The Asia Pacific market is projected to grow at a CAGR of 8.0% during the forecast period to reach USD 90.8 billion by 2023. This growth is expected as the region is the largest producer of ammonia and has the highest refinery throughputs. Also, the rising demand for fuel cell electric vehicles in countries like China, Japan, and South Korea is expected to stimulate the growth of this market in the Asia Pacific region.

This research report categorizes the hydrogen generation market based on generation and delivery type, technology, application, storage, and region.

Based on generation and delivery type, the global market has been segmented as follows:

Captive
Merchant
Delivery mode
State

Based on technology, the global market has been segmented as follows:

Steam methane reforming
Partial oxidation of oil
Coal gasification
Electrolysis of water

Based on application, the global market has been segmented as follows:

Petroleum refinery
Ammonia production
Methanol production
Transportation
Power generation
Others

Based on storage, the global market has been segmented as follows:

On-board storage
Underground storage
Power-to-gas storage

Based on region, the global market has been segmented as follows:

Asia Pacific
North America
Europe
Middle East
Africa
South America

Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=494

The prominent players in the hydrogen generation market are Air Liquide (France), Linde (Germany), Praxair (US), Air Products and Chemicals (US), Ballard Power Systems (Canada), Iwatani (Japan), Hydrogenics (Canada), and Plug Power (US). Ballard Power Systems, Air Liquide, and Hydrogenics were observed to be the most active players that focused mainly on contracts & agreements and investments & expansions strategies.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.