Hydrogen Generator Market - Industry Analysis 2024

The global hydrogen generator market has been envisaged by Transparency Market Research (TMR) to accommodate an increased threat of new entrants as a result of high product differentiation based on capacity and process. However, the threat could be deemed low for existing companies because of the high initial investment required. The trend that currently follows in the field of competition on the part of technology adoption is that an existing technology could only be substituted with a new ‘competent’ technology. For instance, the catalytic autothermal reforming technology presented by HyRadix, Inc. could take time to penetrate the market until it influences the consumer’s mindset and proves its competency.

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As per the figures procured in a report by TMR, the world hydrogen generator market has been envisioned to rake in a revenue of US$1.25 bn by 2024 while rising from US$0.83 bn in 2016. A CAGR of 5.25% has been estimated by the analysts for the years between 2015 and 2024. The market for on-site generation could prove its total dominance over the portable market with a US$0.91 bn valuation by the end of the forecast period. By geography, North America has been foretold to closely battle with Europe to top the global market share with 38.59% by 2024.

Cost-effective Feedstock and Higher Hydrogen Purity Increase Hydrogen Generator Adoption

The nature of natural gas as the most cost-effective feedstock amongst other economical feedstock options such as coal, biomass, and even water has been forecasted to support the growth of the global hydrogen generator market. The steam reforming technology used in hydrogen production which employs natural gas is considered to be one of the most economical methods of delivering hydrogen to end users.

With a 99.9% hydrogen purity, which is considerably higher compared to that produced by hydrogen plants, hydrogen generators could be demanded at a telling level. The switch over to on-site hydrogen generation, owing to the need for higher-quality products and requirement of elevated productivity, has been anticipated to offer a strong boost to the global hydrogen generator market.

On-site hydrogen generators have a minimal requirement of storage and transportation to consumption sites. Plus, they are capable of providing a controlled and constant supply of hydrogen and have proved to be highly economical than large-scale hydrogen generation plants.

Rising Environmental Footprints Interfere with Global Growth

Even after the use of natural gas as the best fuel engaged for the steam reforming process of hydrogen production, carbon dioxide and other emissions are still a problem. Thus, environmental footprints are increasing gradually due to the hydrogen generation process. Moreover, steam reforming cannot be considered as a long-term solution for meeting hydrogen demands, according to the U.S. Department of Energy, because of greenhouse gas (GHG) emissions.

Howbeit, suppliers could be exposed to multiple opportunities in the under-developed markets for on-site hydrogen generator to extend their share by offering cost-effective and competitive technology to end users. Besides this, the rising demand for third-party independent, efficient, hazard-free, and cost-effective operations has been foreseen to emerge as a tremendous profit for hydrogen generator manufacturers.

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Linde AG, Air Liquide, Praxair Technology, Inc., Air Products and Chemicals, Inc., and Hydrogenics Corporation are some of the key players profiled in the report.

The study presented here is based on a report by TMR, titled “Hydrogen Generator Market (Product - On-Site Generation and Portable; Process - Steam Reformer and Electrolysis; Application - Chemical Processing, Fuel Cells, Petroleum Recovery, and Refining; Capacity – 1-100 W, 100-300 W, 300-700W, 700W-1 KW, 1-3KW, and 3KW and above) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024.”

The global hydrogen generator market has been segmented as presented below:

Global Hydrogen Generator Market: By Product

-On-Site Generation

-Portable

Global Hydrogen Generator Market: By Process

-Steam Reformer

-Electrolysis

Global Hydrogen Generator Market: By Application

-Chemical Processing

-Fuel Cells

-Petroleum Recovery

-Refining

Global Hydrogen Generator Market: By Capacity

-1-100 W

-100-300 W

-300-700W

-700W-1 KW

-1-3KW

-3KW and above

Global Hydrogen Generator Market: By Region

-North America

-U.S.

-Canada

-Europe

-Germany

-France

-U.K.

-Rest of Europe

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