Hydrogen Generation Market Size, Business Analysis Worth USD 306.88 Billion in 2030

The market for hydrogen generation has seen tremendous expansion in recent years and is anticipated to keep expanding in the years to come. The process of creating hydrogen gas, which is extensively employed in a variety of industries including transportation, chemical production, and oil refining, is known as hydrogen generation. The market is being driven by increased government initiatives, rising usage of hydrogen fuel cell vehicles, and expanding demand for clean and sustainable energy sources. The increasing demand for clean and sustainable energy solutions is one of the major factors driving the market for hydrogen generating. A global movement to switch to low-carbon and zero-emission energy sources is underway as concerns over climate change and air pollution grow. When hydrogen is created using renewable energy sources like solar or wind power, it is regarded as a clean fuel because it doesn't release any greenhouse gases when burned. To address the expanding need for clean energy, this has led to greater investments in hydrogen producing technology.

Another aspect boosting market expansion is the use of hydrogen fuel cell automobiles. The sole waste emitted by these cars, which take hydrogen as fuel and turn it into power, is water vapour. Hydrogen fuel cell vehicles offer a viable way to lessen carbon footprints because the transportation industry contributes significantly to greenhouse gas emissions. The need for hydrogen generation technologies is being fueled by governments around the world enacting favourable regulations, offering subsidies, and offering other incentives to encourage the use of these cars. The market for hydrogen generation, however, also has several limitations that might prevent it from expanding. The high cost of hydrogen manufacturing is one of the main obstacles. Steam methane reforming, the currently popular method of producing hydrogen, needs natural gas as a fuel. The entire cost of producing hydrogen may change as natural gas prices fluctuate. In addition, the infrastructure needed for hydrogen storage, distribution, and transportation is still underdeveloped, creating logistical difficulties and impeding market expansion.

Despite these difficulties, a number of growth factors indicate that the market for hydrogen generation will expand significantly. Governments all over the world are enacting laws that support the potential of hydrogen as an alternative energy source. For instance, a number of nations have established challenging goals for the deployment of hydrogen and are spending money on R&D to promote innovation in hydrogen technology. The need for hydrogen generation systems is also being driven by the increasing emphasis on decarbonization and the need to achieve environmental targets. Let's look at a few figures from governmental agencies to show the market's development and potential. The capacity of the world's hydrogen production is expected to rise from 115 million tonnes in 2020 to 228 million tonnes in 2030, according to the International Energy Agency (IEA). The Hydrogen Council also predicts that by 2050, the market for hydrogen would be worth $2.5 trillion and support 30 million employment.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1111

Major Companies and Competitive Landscape:
The competitive landscape of the hydrogen generation market is dynamic and evolving, with several key players vying for market share. These companies are engaged in developing innovative technologies, expanding their production capacities, and forming strategic partnerships to gain a competitive edge. Some major companies in the market report include Enapter, Claind, Atawey, Hiringa Energy, Exytron, Messer, Hydrogenics Corporation, SOL Group, Iwatani Corporation, and Linde PLC.

Air Products and Chemicals, Inc.: Air Products is a global leader in hydrogen production and distribution. The company offers a wide range of hydrogen generation technologies, including steam methane reforming, gasification, and electrolysis. They have a strong presence across various industries and are actively involved in developing hydrogen infrastructure projects.

Linde plc: Linde is a leading industrial gases and engineering company that has made significant investments in the hydrogen sector. They have expertise in both conventional and advanced hydrogen production technologies, such as steam methane reforming, pressure swing adsorption, and proton exchange membrane electrolysis. Linde is actively involved in supplying hydrogen to various sectors, including mobility and industry.

Air Liquide: Air Liquide is a global supplier of gases, technologies, and services for industrial applications. They are actively involved in the hydrogen value chain, offering solutions for hydrogen production, storage, and distribution. The company has a strong focus on renewable hydrogen and has been involved in several renewable energy projects to produce green hydrogen.

Plug Power Inc.: Plug Power is a leading provider of hydrogen fuel cell systems for various applications, including material handling, electric vehicles, and stationary power. They offer integrated hydrogen solutions, including on-site hydrogen generation, storage, and fueling infrastructure. Plug Power has been actively expanding its presence in the hydrogen fuel cell vehicle market.

Ballard Power Systems Inc.: Ballard Power Systems is a global leader in fuel cell technology, specializing in proton exchange membrane fuel cells. They are involved in developing fuel cell systems for transportation, backup power, and portable power applications. Ballard Power Systems has been collaborating with key industry players to advance hydrogen fuel cell technologies.

Nel ASA: Nel ASA is a Norwegian company that specializes in hydrogen production technologies, including alkaline and proton exchange membrane electrolysis. They offer a range of hydrogen solutions, from small-scale electrolyzers for on-site hydrogen generation to large-scale electrolysis plants. Nel ASA has been actively involved in partnerships and projects related to hydrogen infrastructure development.

ITM Power: ITM Power is a UK-based company that designs and manufactures integrated hydrogen energy systems. They focus on polymer electrolyte membrane electrolysis technology and offer electrolyzers for both renewable and grid-scale hydrogen production. ITM Power has been involved in several hydrogen infrastructure projects and collaborations with industry partners.

These are just a few of the key players in the competitive landscape of the hydrogen generation market. Other notable companies include Hydrogenics Corporation, Mitsubishi Power, Siemens Energy, and Doosan Corporation. As the market continues to grow, competition is expected to intensify, leading to further technological advancements and strategic alliances among industry participants.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1111

Segmentation Insights for Hydrogen Generation:
The hydrogen generation market is expected to witness significant growth and generate substantial revenue from 2019 to 2030. The revenue figures mentioned below are in USD billion. In terms of technology outlook, steam methane reforming has been the dominant method for hydrogen generation. It involves the reaction of natural gas with steam to produce hydrogen. Steam methane reforming is projected to continue its dominance in the market, contributing a significant share to the overall revenue.

In terms of source outlook, blue hydrogen, produced from fossil fuels with carbon capture and storage, has been the primary source of hydrogen generation. However, there is a growing shift towards green hydrogen, produced through renewable energy sources such as wind and solar power, to achieve decarbonization goals. The market for green hydrogen is anticipated to witness robust growth and hold a substantial share of the revenue.

From a regional perspective, North America, led by the United States, Canada, and Mexico, has been at the forefront of hydrogen generation, driven by supportive government policies and the presence of key industry players. Europe, with countries like Germany, France, and the United Kingdom, is also a significant market due to its focus on decarbonization and the adoption of green hydrogen. The Asia Pacific region, encompassing countries like China, India, Japan, and South Korea, is witnessing rapid industrialization and is investing in hydrogen infrastructure, making it a promising market for hydrogen generation. Latin America, led by Brazil, and the Middle East & Africa region, including Saudi Arabia, the UAE, and South Africa, are also expected to witness considerable growth in the hydrogen generation market.

In conclusion, the hydrogen generation market is set for substantial growth from 2019 to 2030 as various technologies, sources, and applications drive its expansion. Steam methane reforming has been the dominant technology, but electrolysis and coal gasification are gaining momentum, especially with the increasing focus on green hydrogen. Blue hydrogen has been the primary source, but the market is shifting towards green hydrogen to achieve sustainability goals. In terms of applications, the petroleum refinery sector has been a major consumer of hydrogen, and its demand is expected to remain strong. The ammonia production sector, driven by the agricultural and chemical industries, is also expected to contribute significantly to the market revenue. Similarly, the methanol production sector is projected to create a substantial demand for hydrogen.

Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/hydrogen-generation-market

Eric Lee
Corporate Sales Specialist
14671 110 Avenue, Surrey, British Columbia, V3R2A9
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions.

This release was published on openPR.