Press release
Hydrogen generator Market: New Business Opportunities, Emerging Trends, Competitive Strategies and Forecasts 2023
Market HighlightsA hydrogen generator is a unit installed in order to produce hydrogen. The need for uninterrupted power supply is growing because of the worldwide rise in population and rapid industrialization. Power outages can severely affect productivity and the daily lives of people. Also there is rise in adoption of cleaner fuel sources, excess depletion of fossil fuels and stringent regulatory norms to minimize carbon emissions. These factors are driving the market for hydrogen generator, which acts as reliable source for hydrogen in oil & gas sector, refineries, and the chemical industry and along with having economic operations and less carbon emission.
Hydrogen Generator Market in the North-America region is expected to grow the fastest during the forecast period. The increasing awareness of the benefits of clean fuel for transportation along with high demand in refueling stations for fuel cell electric vehicle (FCEV) and growing investments into hydrogen powered power generation so as to meet the rising demand for electricity in the region, have created a positive environment for the growth of hydrogen generator market.
Hydrogen Generator Market is expected to grow with the CAGR of approximately 5% from 2017 to 2023
Key Players:
The key players of global hydrogen generator markets are
• Air Liquide S.A. (France),
• Air Products and Chemicals, Inc. (U.S),
• Epoch Energy Technology Corporation (Taiwan),
• LNI Swissgas SA (Switzerland),
• Hydrogenics-Corporation (Canada),
• Idroenergy S.R.L. (Italy),
• Linde AG (Germany),
• McPhy Energy S.A. (France),
• Proton OnSite (U.S)
• Praxair, Inc. (U.S).
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Market Research Analysis
North America region is expected to grow at the fastest rate
In 2016, North America accounted for the highest market share (about 40% of total) in hydrogen generator market. This is due to growing conversion of conventional coal-fired power plants into cleaner fuel power plants such as, hydrogen. The growth in chemical industries, oil & gas and refineries in this region, and shale gas exploration in the region, will drive hydrogen generator market in this region.
Hydrogen generator are predominantly used in industrial applications, owing to their extreme reliability and comparatively low use of fuel when compared to diesel generators. Hydrogen generator are mainly installed at a consumer site to produce hydrogen. Continuous power supply to the electronic devices and a source of power backup for industrial and commercial organizations is a becoming a basic need to work without any loss in productivity which is provided by hydrogen generators on large scale. Hydrogen generator also ensure safe and reliable source of energy for chemical processing, petroleum recovery, fuel cells and refinery.
Hydrogen generator are classified based on their product type such as on-site and portable. On-site hydrogen generator market is expected to grow at a high rate in forecast period as, increasing hydrogen demand in oil & gas, refineries and other industries owing to its low emission characteristics are the key driver of the on-site hydrogen generator market. Also portable hydrogen generator is projected to witness highest gain till 2023 owing to drifting concentration for renewable energy. Environmental sustainability, high power to weight ratio, and noise free characteristics.
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The market has been analyzed based on product, process, capacity, application and regions. On the basis of product, the steam reformer electrolysis market was valued above USD 650 million in 2016. Steam reformer produces hydrogen gas from hydrocarbon fuels such as natural gas which comprises methane and methanol. The growing demand for hydrogen in manufacturing of chemicals and processing is forecast to boost hydrogen generator growth steam reformer electrolysis
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