London , May 29, 2023 (GLOBE NEWSWIRE) -- A fast-becoming major driver of the global hydrogen generation market is the integration of renewable energy resources. Hydrogen can be produced through the process of electrolysis, which uses electricity to split water into oxygen and hydrogen. Using surplus renewable energy from sources such as solar and wind power, the production of hydrogen becomes a means of energy storage. As renewable energy is intermittent, this integration allows for more efficient use, thus ensuring a constant supply of hydrogen. As nations and industries strive to transition to cleaner and more sustainable energy systems, the demand for hydrogen as a renewable energy carrier to expected to go up.
Moreover, the need to lower carbon emissions and effectively fight climate change, is another major contributor to the growth trajectory of the global hydrogen generation market. Hydrogen only emits water vapour when used as an energy source. This makes it a clean alternative for various industry processes that rely on fossil fuels. With respective governments and concerned authorities putting in place various initiatives and regulations aimed at incentivizing the adoption of hydrogen, the subsequent demand from the global hydrogen generation market is slated to increase accordingly.
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Insights into Segmentation Analysis
The global hydrogen generation market is generally segmented based on – Production Method, End-Use Industry, and Region. Based on Production Method, the ‘Steam Methane Reforming (SMR)’ sub-segment is projected to account for the largest share of this global market owing to the presence of established infrastructure and relatively lower production costs. With respect to End-Use Industry segmentation, the ‘Transportation Sector’ is slated to account for the majority market share and holds substantial growth potential owing to the greater focus being given to decarbonizing the transportation sector.
Insights into Regional Analysis
As per a study conducted by Fairfield Market Research, both North America and Europe have put in place various initiatives to fund and carry out ambitious strategies that allow for the transition to renewable energy sources and processes, as well as the lowering of carbon emissions. However, the Asia Pacific is expected to dominate the global hydrogen generation market, in terms of market share, in the coming years. This can be attributed to ongoing initiatives in countries such as Japan, South Korea, and China to develop a hydrogen-based economy.
Key Market Players
AFC Energy, Air Liquide, Air Products, Ballard Power Systems Inc., Bloom Energy Corp., C3 BioEnergy, Ceres Power, CTP Hydrogen, Chevron Hydrogen Company LLC, Clean Hydrogen Producers Ltd., Doosan Fuel Cell, Enegix Energy, FuelCell Energy Inc., Gaskatel, GmbH, Hydrogenics, HyperSolar Inc., ITM Power, Linde Plc, Nacero, NIKOLA, Plug Power Inc., Proton Power Systems, and Rouge H2 Engineering GmbH, constitute some of the major competitors dominating the competitive landscape of the global hydrogen generation market.
Global Hydrogen Generation Market is Segmented as Below:
Market Place Coverage
- Captive
- Merchant
Source Coverage
- Natural Gas
- Without CCUS (Carbon capture, utilization, and storage)
- With CCUS
- Coal
- Biomass
- Water Electrolysis
- By-product
- Misc.
Application Coverage
- Oil Refinery & Biofuels
- Methanol Production
- Ammonia Production
- Iron and Steel (DRI)
- Transportation
- Power Generation
- Misc.
Geographical Coverage
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Leading Companies
- Air Liquide S.A.
- Deokyang Co. Ltd.
- Spg Hydrogen Co., Ltd.
- Air Products and Chemicals, Inc.
- CHN ENERGY Investment Group Co.,LTD
- Hydrogenics Corporation
- Linde plc
- Iwatani Corporation
- REFHYNE
- Matheson Tri-Gas, Inc.
- INOX Air Products Ltd.
- Messer
- Nippon Sanso Holdings Corporation
- SOL Group
- McPhy Hydrogen
- Nel ASA
- Aker Solutions ASA
- ITM Power plc
- Tokyo Gas Chemicals Co., Ltd.
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Table Of Content
1. Executive Summary
1.1. Global Hydrogen Generation Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.6. Economic Analysis
2.7. Government Regulations/ Promotion Activities
2.8. PESTEL Analysis
2.9. Upcoming Technologies
2.10. Hydrogen Ecosystem - At Glance
3. Production Output and Trade Statistics, 2019 - 2022
3.1. Supply-Demand Analysis
3.2. Production Output Analysis
3.3. Major Exporting Countries, by Destination
4. Price Trends Analysis and Future Projects
4.1. Key Highlights
4.2. Key Factors Impacting the Prices
4.3. Average Price, By Source
4.4. Average Price, By Region
5. Global Hydrogen Generation Market Outlook, 2019 - 2030
5.1. Global Hydrogen Generation Market Outlook, by Market Place, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
5.2. Global Hydrogen Generation Market Outlook, by Source, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
5.3. Global Hydrogen Generation Market Outlook, by Application, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
5.4. Global Hydrogen Generation Market Outlook, by Region, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
6. North America Hydrogen Generation Market Outlook, 2019 - 2030
6.1. North America Hydrogen Generation Market Outlook, by Market Place, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
6.2. North America Hydrogen Generation Market Outlook, by Source, Volume (Thousand Tons) and Value (US$ Mn), 2019 – 2030
6.3. North America Hydrogen Generation Market Outlook, by Application, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
6.4. North America Hydrogen Generation Market Outlook, by Country, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
7. Europe Hydrogen Generation Market Outlook, 2019 - 2030
7.1. Europe Hydrogen Generation Market Outlook, by Market Place, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
7.2. Europe Hydrogen Generation Market Outlook, by Source, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
7.3. Europe Hydrogen Generation Market Outlook, by Application, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
7.4. Europe Hydrogen Generation Market Outlook, by Country, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
8. Asia Pacific Hydrogen Generation Market Outlook, 2019 - 2030
8.1. Asia Pacific Hydrogen Generation Market Outlook, by Market Place, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
8.2. Asia Pacific Hydrogen Generation Market Outlook, by Source, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
8.3. Asia Pacific Hydrogen Generation Market Outlook, by Application, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
8.4. Asia Pacific Hydrogen Generation Market Outlook, by Country, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
9. Latin America Hydrogen Generation Market Outlook, 2019 - 2030
9.1. Latin America Hydrogen Generation Market Outlook, by Market Place, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
9.2. Latin America Generation Market Outlook, by Source, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
9.3. Latin America Hydrogen Generation Market Outlook, by Application, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
9.4. Latin America Hydrogen Generation Market Outlook, by Country, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
10. Middle East & Africa Hydrogen Generation Market Outlook, 2019 - 2030
10.1. Middle East & Africa Hydrogen Generation Market Outlook, by Market Place, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
10.2. Middle East & Africa Hydrogen Generation Market Outlook, by Source, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
10.3. Middle East & Africa Hydrogen Generation Market Outlook, by Application, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
10.4. Middle East & Africa Hydrogen Generation Market Outlook, by Country, Volume (Thousand Tons) and Value (US$ Mn), 2019 - 2030
11. Competitive Landscape
11.1. Company Market Share Analysis, 2020
11.2. New Developments
11.3. Market Structure (Blue, Green & Grey Hydrogen)
11.4. Company Profiles
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
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