Hydrogen Generation Market is Likely to Increase at a Significantly High CAGR during Forecast Period 2031 | Air Liquide India, Linde plc, Air Products and Chemicals, Inc., ITM Power, Siemens Energy

The global hydrogen generation market is anticipated to grow at a significant CAGR of 11.1% during the forecast period (2024-2031). An increase in demand for hydrogen to power vehicles, generate electricity and power industry drives the market for hydrogen generation globally. Shifting focus on cleaner energy and favourable government regulations are preponderance for the hydrogen generation market. The global energy crisis has fostered research and exploration in alternative sources of energy generation, as well as several sustainable conservation initiatives. According to the International Renewable Energy Agency (IRENA), in May 2021, at the end of 2021, almost 47.0% of the global hydrogen production is from natural gas, 27.0% from coal, 22.0% from oil (as a by-product) and only around 4.0% comes from electrolysis.

Into meet the growing demand for hydrogen, in  December 2022, GenH2, in hydrogen infrastructure solutions, launched  LS20 Mobile Liquid Hydrogen System, an end-to-end liquefication and storage system. The innovative, mobile liquefaction unit offers a space-optimized, fully integrated liquid hydrogen solution to be used in a range of applications from transportation to energy backup to accelerating the use of liquid hydrogen through pilot projects and testing.

The market player are supporting by serving every aspect of a hydrogen plant lifecycle, from the simulation at the design and engineering phases to real-time visualisation and monitoring when in operation. For instance, in November 2022, ABB launched its energy management system ABB Ability™ OPTIMAX® to the green hydrogen market, to help reduce costs of production by enabling real-time visibility of energy consumption across operations. The software measures bi-directional power flows and carbon dioxide emissions providing contextual data that operators can use to determine optimal energy consumption levels

Various technology aims to counter inefficiencies in energy, heat production and industrial processes, which together account for more than half of all global greenhouse gas emissions. For instance, in April 2022, John Wood Group PLC launched its new steam methane reforming (SMR) technology, which can achieve 95.0% CO2 emissions reduction, compared to a traditional hydrogen production plant. Company pathway to reduce these emissions and create a more sustainable future, whilst also meeting increasing demand for energy, lies in reducing the carbon intensity of hydrogen production.

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Market Coverage

The market number available for - 2023-2031
Base year- 2023
Forecast period- 2024-2031

Segment Covered- 

By Technology
By Source
By Application

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- includes Air Liquide India, Linde plc, Air Products and Chemicals, Inc., ITM Power, Siemens Energy, and others.

Hydrogen Generation Market Report Segment

By Technology

Steam Methane Reforming
Coal Gasification
Others (Auto Thermal Reforming)

By Source

Natural Gas
Coal
Biomass
Water

By Application

Methanol production
Ammonia Production
Petroleum Refining
Transportation
Power Generation
Others (Energy storage)

A full Report of Hydrogen Generation Market is Available @  https://www.omrglobal.com/industry-reports/hydrogen-generation-market

Hydrogen Generation Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles

Ballard Power Systems
Ceres Power
Cummins Inc.
Enapter
FuelCell Energy
GinerELX
Green Hydrogen Systems
Heliocentris Energy Solutions AG
ITM Power
McPhy Energy S.A. 

Plug Power Inc.
Proton OnSite
Re-Fire Technology
SGH2 Energy Global Corp.
Siemens Energy
Toshiba Energy Systems & Solutions Corp.
Uniper SE

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