Hydrogen Generation Market Size By Delivery Mode (Captive, Merchant), By Process (Steam Reformer, Electrolysis), By Application (Petroleum Refinery, Chemical, Metal), Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Mar 2020  |  Report ID: GMI1107  |  Authors: Ankit Gupta, Srishti Agarwal

Report Format: PDF   |   Pages: 215   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Hydrogen Generation Market size is anticipated to grow at a CAGR of over 6% through 2026. Increasing crude oil consumption along with surging investments toward the expansion of existing refining facilities in developing economies will create significant business opportunities for various hydrogen manufacturers across the globe.

Hydrogen as an element is available in abundance owing to its high chemical affinity. The product is produced from a range of feedstock options utilizing both renewable and non-renewable processes. The main technologies used for hydrogen generation include Steam Methane Reforming (SMR), partial oxidation and Autothermal Reforming (ATR) of hydrocarbons combined with water electrolysis, biomass gasification, and biological production.

Hydrogen Generation Market

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The production cost, safety concerns, slow infrastructure development and existing regulations limiting hydrogen adoption are some of the major concerns associated with the utilization of hydrogen generation. Introduction of various policies aiming toward clean fuel adoption coupled with rising investments across the refining sector is set to stimulate the business scenario. Introduction of regulation of various incentive programs with an aim to limit the amount of sulfur content in diesel fuel, gasoline and motor oil will further stimulate the hydrogen generation industry demand over the forecast timeframe.

The global economy has been hit hard with the outbreak of the novel coronavirus, also known as COVID-19. According to the World Health Organization (WHO), COVID-19 has impacted more than 150 countries and has led adversely impacted economies to enforce lockdowns, thereby limiting the industry growth.

However, extended support from the government to address both short term & long-term production challenges faced by the companies will positively impact the overall business landscape.

The hydrogen generation market report features a detailed analysis of industry trends on a global scale segmented on country & regional basis across different delivery modes, processes, and applications. Moreover, the industry forecasts & estimates are in line with the data represented by authorities including the International Energy Agency, Department of Energy, International Renewable Energy Agency Association, Hydrogen Council, government regulatory bodies, and company press releases.

Strict government policies & norms coupled with rising demand for onsite generation propelling the merchant hydrogen generation industry share

Hydrogen generation market from merchant segment is projected to witness over 7% CAGR from 2020 to 2026. Stringent norms to curb emissions from the refining sector has led to adoption of various clean energy sources including hydrogen. Policies supporting the use of merchant hydrogen in new applications comprising pharmaceuticals along with their generation from new sources is set to develop the overall industrial & environmental framework.

Incapacity of the medium size industries to afford the high capital expenditure owing to storage & distribution of hydrogen is set to enhance the business outlook. Changing demographics, growing population coupled with improved standard of living across the emerging nations are some of the vital factors positively impacting the industry statistics. Harmonizing various air pollution standards and lowering the regulatory barriers in areas including hydrogen purity & pipeline specifications will facilitate hydrogen trade, thereby augmenting the market statistics.

Ease of availability of conventional fuels propelling the SMR hydrogen generation industry trends

Hydrogen generation market from SMR segment is set to achieve over 6% CAGR from 2020 to 2026. Abundant availability of traditional fuels leading to reduced operational costs combined with improvement in economic & operational benefits will boost the demand for SMR. Majority of the hydrogen production facilities including central oil plants and gas refineries use the reforming technology. Greater focus on funding programs with the aim to tap the regional product demand will create enhanced opportunities for hydrogen generation.

Escalating demand for fuel cells and heat & power generation propelling transport segment of hydrogen generation market

U.S. Hydrogen Generation Market

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Other’s segment includes glass, agriculture, pharmaceuticals, semiconductors, and transport. It holds a vast potential in the coming years owing to upcoming opportunities in buildings, power industry and the transport sector. Utilization of hydrogen beyond the traditional existing industrial applications will augment hydrogen generation market expansion. Industries comprising aviation along with shipping have limited options in terms of low carbon fuel and thus hydrogen can support in addressing the environmental targets. Although, hydrogen-based fuels have higher energy consumption along with higher costs but policy changes to achieve low carbon targets is set to substantially support the market demand.

Asia Pacific to take over the regional market share due to economic development

India Hydrogen Generation Market, By Process

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North America, Asia Pacific, and Europe jointly account for more than 80% of the global hydrogen generation market share. High population density, presence of numerous manufacturing facilities along with substantial investments toward fuel cell development has made Asia Pacific one of the major stakeholders across the globe. The positive outlook toward the refining sector along with the government focus on the development of new industrial facilities including chemical, automotive and power among others will foster the regional market statistics.

Asia Pacific hydrogen generation market is anticipated to witness substantial growth owing to rising energy demands. Growing refinery operations in countries including China and India is set to drive the market forecasts. According to IEA 2019, Japan and China are the largest LNG importers with the highest potential for hydrogen development. Ongoing pilot projects including the supply of hydrogen from natural gas for power plant use in Japan will further support the hydrogen trade in the country.

Inorganic growth ventures act as the focal point for leading manufacturers

The key market players operational across the industry are currently targeting at inorganic growth ventures including collaborations & acquisitions to achieve a competitive edge. Various merger & acquisitions aim at improving the profitability and capturing a larger proportion of the market share. The eminent industry players operating in the hydrogen generation market include Hydrogenics Corporation, Showa Denko K.K, Nuvera Fuel Cells, Caloric Anlagenbau, Iwatani Corporation, Air Products & Chemicals Inc., Air Liquide SA, Messer Group GmbH and Ally Hi-Tech Co. Ltd.

Hydrogen generation market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD” from 2015 to 2026, for the following segments:

By Delivery Mode

  • Captive
  • Merchant

By Process

  • Steam Reforming
  • Electrolysis
  • Others

By Application

  • Petroleum Refining
  • Chemical
  • Metal
  • Others

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Netherland
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
  • Middle East & Africa
    • Saudi Arabia
    • Iran
    • UAE
    • South Africa
  • Latin America
    • Brazil
    • Argentina
    • Chile


Frequently Asked Questions (FAQ) :

hydrogen generation market size is expected to grow at a crcr of 6.3% over the forecast period.
Predicted revenue share of hydrogen generation market is $160 billion by 2026.
Rapid shift from fossil fuels to renewable energy sources along with the extensive applications in industries including semiconductors will be key driving factors for the growth of global market.
Major challenges likely to impact the global market size include high capital, installation & maintenance costs along with transport & safety concerns.
Hydrogenics Corporation, Showa Denko K.K, Nuvera Fuel Cells, Caloric Anlagenbau, Iwatani Corporation, Air Products & Chemicals Inc., Air Liquide SA, Messer Group GmbH and Ally Hi-Tech Co. Ltd. are top companies operating in the global market for hydrogen generation.

Premium Report Details

  • Published Date: Mar 2020
  • Pages: 215
  • Tables: 242
  • Charts / Figures: 37
  • Companies covered: 19
  • Countries covered: 19

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