Press release
Hydrogen Generation Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Hydrogen Generation
What Is the Expected Hydrogen Generation Market Size During the Forecast Period?
The market size for hydrogen generation has experienced substantial growth in the past few years. The anticipated growth from $153.42 billion in 2024 to $166.5 billion in 2025, with a compound annual growth rate (CAGR) of 8.5%, indicates its upward trend. Factors contributing to this growth during the historical period include the industrial demand for hydrogen, regulations to protect the environment, the promotion of hydrogen as a clean fuel, reforming of natural gas, government incentives and subsidies, the global transition towards different energy sources, and the advancement in fuel cell technology.
In the upcoming years, there is an anticipation for a significant expansion in the hydrogen generation market size. The market is projected to reach $229.72 billion by 2029, with an 8.4% compound annual growth rate (CAGR). The growth during the forecast period can be credited to factors such as increased investment in hydrogen infrastructure, scaled-up hydrogen production, decreased electrolysis costs, biomass-derived hydrogen, and projects focused on green hydrogen production. Other contributing factors include the adoption of hydrogen-powered vehicles and the pursuit of hydrogen for decarbonization. Key trends to be observed in this forecast period encompass technological advancements, policy backing and investments, incorporation with renewable energy systems, rising fascination with blue hydrogen, usage of hydrogen as an energy conveyer, and hydrogen's role in heavy industries.
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What Are the High-Growth Segments in the Hydrogen Generation Market?
The hydrogen generation market covered in this report is segmented -
1) By Type: On-Site, Portable
2) By Source: Blue Hydrogen, Gray Hydrogen, Green Hydrogen
3) By Generation And Delivery Mode: Captive, Merchant
4) By Technologies: Steam Methane Reforming, Coal Gasification, Electrolysis, Partial Oxidation
5) By Application: Methanol Production, Ammonia Production, Petroleum Refining, Transportation, Power Generation, Other Applications
Subsegments:
1) By On-Site: Electrolysis Systems, Steam Methane Reforming (SMR), Gasification, Biomass Gasification
2) By Portable: Portable Electrolyzers, Hydrogen Generation Units, Chemical Hydrogen Generators
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What Key Drivers Are Expected to Influence Future Hydrogen Generation Market Growth?
The growing need for hydrogen in the industrial sphere is predicted to ignite the expansion of the hydrogen generation market in the future. Referring to the part of the economy composed of corporations that enable other organizations in creating, transporting, or manufacturing their merchandise, the industrial sector consumes a significant quantity of hydrogen. This is due to hydrogen being a part of numerous chemical goods and its application in hydrocracking, which yields petroleum goods such as gasoline and diesel. For example, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, reported in May 2024 that worldwide hydrogen consumption escalated to 95 million tons in 2022, a growth of almost 3% from the preceding year. However, Europe saw a reduction caused by the surge in natural gas prices impacting industrial operations. Consequently, the escalating requirement for hydrogen in the industrial sector is fueling the advancement of the hydrogen generation market.
Which Companies Hold the Largest Share Across Different Hydrogen Generation Market Segments?
Major companies operating in the hydrogen generation market are Air Liquide SA, Air Products Inc., Iwatani Corporation, McPhy Energy SA, Messer Group GmbH, Altergy Systems, Ballard Power Systems Inc., BayoTech Inc., Doosan Fuel Cell Co. Ltd., EKME S.A., Enapter AG, Frame Power India Pvt. Ltd., Giner ELX Inc., Green Hydrogen Systems AS, Greenlane Renewables Inc., GRZ Technologies Ltd., Cummins Inc., ITM Power PLC, Linde PLC, Nel ASA, Plug Power Europe GmbH, Proton OnSite LLC, Siemens Energy AG, Taiyo Nippon Sanso Corporation, Teijin Engineering Ltd., Teledyne Energy Systems Inc., Toshiba Energy Systems & Solutions Corp., VRV SpA
What Trends Are Driving Growth in The Hydrogen Generation Market?
A prevailing trend in the hydrogen generation market is the innovation of green hydrogen production technologies. Major market players are exploring new technologies to guard their market stance. As an example, a US-based technology firm, Honeywell International has pioneered a fresh catalyst-coated membrane (CCM) technology for green hydrogen production in March 2022. The Proton Exchange Membrane (PEM) and Anion Exchange Membrane (AEM) CCMs are the cornerstones of Honeywell's latest technological breakthrough. Honeywell's pioneering CCMs, characterized by increased electrolyzer efficiency, higher electrical current density, and a novel membrane with excellent ionic conductivity and superior activity, are noteworthy due to their unique features. This technology is poised to reduce the electrolyzer stack cost by a proposed 25%.
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What Are the Emerging Geographies for The Hydrogen Generation Market Growth?
Asia Pacific was the largest region in the hydrogen generation market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydrogen generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hydrogen Generation Market?
2. What is the CAGR expected in the Hydrogen Generation Market?
3. What Are the Key Innovations Transforming the Hydrogen Generation Industry?
4. Which Region Is Leading the Hydrogen Generation Market?
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