Press release
Rising Demand for Green Hydrogen Drives Growth of Hydrogen Generators Market to $1.43B by 2028 at a CAGR of 3.9%
Hydrogen Generators Market Report
The hydrogen generators market size is expected to see steady growth in the next few years. It will grow to $1.43 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to rise in green hydrogen projects, electrification of industries, government policies and carbon reduction targets, expansion of hydrogen fuel cell vehicles, global collaboration on hydrogen economy, integration with renewable energy sources. Major trends in the forecast period include technological innovations in electrolysis, advancements in electrolysis technologies, advancements in electrolysis technologies, integration of artificial intelligence (AI), hydrogen as an energy storage medium.
Market Overview -
The hydrogen generators refers to generator that produce hydrogen from water using an electrolysis process. A proton exchange membrane (PEM) is used in a hydrogen generator to produce high-quality hydrogen gas from water. Hydrogen generators can be either hydrogen-powered or hydrogen-producing machines.
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Hydrogen Generators Surge Amidst Tightening Greenhouse Gas Regulations
Government regulations over greenhouse gas emissions are expected to propel the growth of the hydrogen generators market going forward. Global greenhouse gas emissions are increasing, mainly due to fossil fuel consumption and industrialization. Hydrogen generators are being developed by major companies because they produce hydrogen by electrolysis, which produces zero greenhouse gas emissions. For instance, in December 2021, the environmental Protection Agency (EPA), a US-based government agency, has finalized updated national greenhouse gas (GHG) emissions requirements for passenger vehicles and light trucks for model years 2023-2026. The final guidelines would result in significant reductions in GHG emissions in addition to other criterion pollutants. The rule would provide significant public health and welfare advantages while saving customers money on gasoline prices. Hence, Government and environmental organizations are strengthening regulations to control greenhouse gas emissions which drives the hydrogen generators market.
Competitive Landscape -
Major companies operating in the hydrogen generators market report are Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Siemens AG, Linde plc, Cummins Inc., Air Liquide S.A., Johnson Matthey plc, Air Products and Chemicals Incorporated, Praxair Technology Inc., Teledyne Energy Systems Inc., Plug Power Inc., Nel Hydrogen Fuel Cells AS, NEL ASA, Ballard Power Systems Inc., Nuvera Fuel Cells LLC, MVS Engineering Pvt. Ltd., Epoch Energy Technology Corporation, McPhy Energy S.A.S., HELBIO S.A., ITM Power Ltd., Proton OnSite LLC, Green Hydrogen System, Ideroenergy Inc., Hy9 Corporation, Suzhou Jingli Hydrogen Equipment Co. Ltd., Deokyang Co. Ltd., Hydrogenics Corporation, Relion Group
Revolutionizing Power Solutions With Emission-Free Hydrogen Generators
Major companies operating in the hydrogen generators market are developing innovative products such as emission-free generators to increase their profitability in the market. Emission-free hydrogen generators are devices or systems designed to produce hydrogen gas without releasing greenhouse gas emissions or other harmful pollutants into the environment. For instance, in November 2023, Hitachi Energy Ltd, a Switzerland-based sustainable energy system provider launched HyFlex. The HyFlex unit, engineered for either temporary or permanent setup, supplies power in situations where grid connections are unfeasible and diesel generators are not viable. The medium-power model supports temporary installations, offering a power range of 400-600 kVA, while the high-power version serves permanent setups, delivering 1 MVA or more per unit. HyFlex is entirely emission-free, generating solely AC power, usable heat, and water. It proves applicable to diverse industries, including construction sites situated in remote areas or those sensitive to noise and pollution. Additionally, it suits remote venues, data centers, and hospitals.
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Key Segments -
The hydrogen generators market covered in this report is segmented -
1) By Product Type: Onsite, Portable
2) By Process: Steam Reforming, Electrolysis, Other Processes
3) By Capacity: Less Than 300 W, 300W - 1 KW, More Than 1 KW
4) By Application: Chemical Processing, Fuel Cells, Petroleum Recovery, Refining, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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