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, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

Published Date: Jan 2017  |  Report ID: GMI1107  |  Authors: Ankit Gupta, Aditya Singh Bais

Report Format: PDF   |   Pages: 117   |   Base Year: 2015

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Hydrogen Generation Market size in 2017 was valued over USD 125 billion and is forecast to grow over 5% by 2024.

Global Hydrogen Generation Market Size, By Region, 2017 & 2024 (USD Million)

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Rising requirement for hydrogen in oil and gas refineries coupled with growing demand for fuel cells in transportation and power generation will foster the product development. Stringent government regulations with an aim to desulfurize the petroleum goods, introduction of policies aiming at clean fuel adoption along with deteriorating crude oil quality will stimulate the business scenario. The state government in the U.S. has regulated incentive programs to reduce the amount of sulfur content in gasoline, motor oil and diesel fuel.

Increasing crude oil consumption, rising investments toward expansion of refineries along with strict mandates to comply with the emission control regulations will propel the production adoption. Rising awareness toward clean energy along with swift shift from fossil fuels to renewable sources is projected to complement the industry outlook. Moreover, extensive application in industries including automotive, metal, semiconductor, chemical & glass will complement the business landscape.

Hydrogen Generation Market Report Coverage
Report Coverage Details
Base Year: 2015 Market Size in 2015: 125 Billion (USD)
Historical Data for: 2013 to 2015 Forecast Period: 2016 to 2024
Forecast Period 2016 to 2024 CAGR: 5% 2024 Value Projection: 180 Billion (USD)
Pages: 117 Tables, Charts & Figures: 235
Geographies covered (19): U.S., Canada, Mexico, Germany, UK, France, Italy, Netherlands, Russia, China, India, Japan, Saudi Arabia, Iran, Uae, South Africa, Brazil, Argentina, Venezuela
Segments covered: Delivery Mode, Process, Application and Region
Companies covered (9): Hydrogenics, Iwatani Corporation, Praxair Technology, Inc., Showa Denko K.K., Caloric Anlagenbau GmbH, Messer Group GmbH, Nuvera Fuel Cells, LLC, Taiyo Nippon Sanso Corporation, Xebec Adsorption Inc.
Growth Drivers:
  • Increasing demand for clean fuel energy
  • Stringent government regulation towards Desulphurization of Petroleum Products
  • Deteriorating crude oil quality
Pitfalls & Challenges:
  • Transportation & Storage Issues

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Hydrogen Generation Market, By Type

Captive hydrogen generation industry was valued over USD 100 billion in 2017. The industry will witness substantial growth owing to its enhanced use in metal industry. In addition, key factors including new technology development, cost reduction and growth in demand for onsite generation for small scale industries will strengthen the business landscape.

Merchant hydrogen generation is projected to grow on account of rising demand for the product in refineries and ability to supply hydrogen at competitive cost. The inability of the small or the medium sized industries to afford the high setup expenses along with the upkeep of the generation facilities is set to enhance the production adoption.

Hydrogen Generation Industry, By Process

China Hydrogen Generation Market Size, By Process, 2017 (USD Million)
China Hydrogen Generation Market Size, By Process, 2017 (USD Million)

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Steam reforming hydrogen generation industry in 2024, is anticipated to grow over USD 160 billion owing to ease of availability along with reduced prices of natural gas. The process involves heating methane containing raw materials including natural gas to produce H2, carbon monoxide and CO2.

Electrolysis hydrogen generation market will grow owing to the ability to produce hydrogen using the renewable sources. The process is used to develop hydrocarbons from water by the application of electric current and it results in zero greenhouse gas emissions with increased efficiency, durability and safety.

Hydrogen Generation Industry, By Application

Europe Hydrogen Generation Market Size, By Application, 2017 (USD Million)
Europe Hydrogen Generation Market Size, By Application, 2017 (USD Million)

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Chemical application is set to grow over USD 90 billion by 2024 owing to increasing demand for ammonia in the fertilizer industry. Rising crop price coupled with the widespread usage of ammonia for urea production is set to positively influence the industry outlook.

Petroleum refinery was valued over USD 50 billion in 2017. The industry is projected to grow substantially on account of wide application in hydrocracking process and greater focus on complying with the emission regulations. Moreover, rising demand for middle distillates including diesel and gasoline among others will strengthen the business scenario.

Hydrogen Generation Industry, By Region

China market is anticipated to witness growth owing to robust economic performance along with large scale investments in research and development activities. Rising focus pertaining to the use of renewable fuels combined with positive stance toward energy regulations will boost the industry outlook.

Germany market is anticipated to exceed over USD 6 billion in 2017. The industry is set to witness a considerable growth owing to surging requirement for chemicals in sectors including construction and food & beverage. Rising demand for better quality and reliable supply of varied end-user industries including the commercial sectors are anticipated to be the key drivers fuelling the product installation.

Asia Pacific accounted for over USD 50 billion in 2017 owing to rising demand for petroleum products from refineries. Upcoming economies including India and China are projected to account for a major share in 2024 owing to ongoing investments in the refining and transportation projects. For instance, the Ministry of New & Renewable Energy (MNRE) has introduced varied Research, Development and Demonstration (RD&D) projects directed toward the development of processes, new materials, components and systems.

Competitive Market Share

Major industry players in the hydrogen generation market include Air Liquide, Showa Denko K.K., Air Products and Chemicals, Messer Group, Caloric Anlagenbau, Xebec Adsorption, Ally Hi-Tech, Nuvera Fuel Cells, Hydrogenics, Iwatani Corporation among others.

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