North America Hydrogen Generation Market Size - By Delivery Mode (Captive and Merchant), By Process (Steam Reformer, Electrolysis and Others), By Application (Petroleum Refinery, Chemical, Metal and Others) & Forecast, 2024 – 2032

North America Hydrogen Generation Market Size

North America Hydrogen Generation Market size was valued at USD 18.5 billion in 2023 and is anticipated to grow at a CAGR of 5.8% between 2024 and 2032. It is the process of generating hydrogen gas from various feedstocks or energy sources, typically via chemical reactions or electrolysis. This production can use traditional methods or newer, cleaner methods including electrolysis using renewable energy sources. Hydrogen is a versatile and clean energy carrier therefore in great demand across a variety of industries including refining, chemicals, transportation, and energy storage.
 

Abundant renewable energy resources, including wind and solar power along with reducing cost of renewable energy, will strengthen the emphasis on using these clean energy sources to produce green hydrogen via electrolysis, thereby augmenting the industry landscape. Rising government investments and funding, including the Inflation Reduction Act (IRA) and the bipartisan infrastructure law (BIL), will provide funding and tax credits for clean hydrogen production and carbon capture, leading to market expansion.
 

North America Hydrogen Generation Market Trends

Rapid expansion of renewable hydrogen production, primarily driven by electrolysis powered by renewable energy sources including wind and solar will augment the industry scenario. The emergence of hydrogen hubs and clusters as focal points for hydrogen production, distribution, and utilization in the region will expand the distribution network in the region. Increasing international collaboration by the U.S. with other countries to develop hydrogen strategies and policies, including the European Union, Australia, Finland, Germany, Norway, Portugal, Spain and others will improve the growth trajectory.
 

Increasing collaboration and partnerships between various industry players, research institutions, and government agencies will foster innovation and accelerate the development of hydrogen generation infrastructure. Additionally, rising investments in research and development to create next generation electrolyzers, novel catalysts, and advanced storage and transportation solutions to improve hydrogen's performance and competitiveness as an energy carrier will uplift the product penetration.
 

North America Hydrogen Generation Market Analysis

Based on technology, the North America hydrogen generation industry is segmented into steam reformer, electrolysis and others. Steam reformer segment is anticipated to cross USD 27 billion by 2032, owing to abundant natural gas reserves, making it an attractive method for hydrogen production. The scalability of these technologies makes them suitable for both centralized and distributed hydrogen production applications, thereby propelling the product adoption. In addition, the cost-effectiveness of technology for hydrogen production, particularly when coupled with carbon capture and storage technologies to mitigate the greenhouse gas emissions will strengthen the business outlook.

Based on application, the North America hydrogen generation market is segmented into petroleum refinery, chemical and others. Metal segment is set to expand at a CAGR of over 6% through 2032.  Growing implementation of stringent emission reduction targets by the government and regulatory bodies to combat climate change and air pollution will escalate the demand for clean energy carriers. Rising innovations in electrolysis, steam methane reforming, and transportation infrastructure will reduce the entry barriers for hydrogen adoption thereby enhancing the product demand.
 

Canada hydrogen generation market is anticipated to surpass USD 4.8 billion by 2032, on account of its abundant renewable energy resources, increasing demand from various end-use industries, and supportive government policies. Strong R&D capabilities across the economy along with vast renewable energy resources, including hydroelectric power, wind energy, solar power, and biomass, will provide a reliable and sustainable supply of electricity for electrolysis. Furthermore, strong commitments from the government and enhanced funding including Strategic Innovation Fund and the Net Zero Accelerator will fuel the product penetration.

 

The U.S. has shown significant market growth driven by its large natural gas reserves and well-established pipeline infrastructure. Government increased funding and support including the Hydrogen Posture Plan and the National Hydrogen Energy Vision and Roadmap aim to enhance R&D, validate technologies, and develop hydrogen infrastructure will augment the industry statistics. Additionally, the U.S. Department of Energy (DOE) and the Department of Transportation (DOT) have set deliverables to support the development of clean energy infrastructure in the country thereby creating opportunities for business growth.
 

North America Hydrogen Generation Market Share

Eminent players are prioritizing R&D investment to develop innovative hydrogen production technologies that are both efficient and cost effective. This includes advancements in hydrogen generation methods that improve efficiency, lower costs, and reduce environmental impact. Companies are investing in new facilities, upgrading existing infrastructure, and implementing modular and scalable production technologies to meet the growing demand for hydrogen. This allows them to serve a wide range of end-use applications and capture wider market opportunities.
 

North America Hydrogen Generation Market Companies

Eminent players operating in the North America hydrogen generation industry are:

• Air Products and Chemicals, Inc.
• Ballard Power Systems
• CALORIC
• CF Industries
• Cummins Inc.
• Hexagon Composites ASA
• Iwatani Corporation
• ITM Power plc
• Linde plc
• Messer
• NUVERA FUEL CELLS, LLC
• Nel ASA
• Plug Power Inc.
• RESONAC HOLDINGS CORPORATION
• Siemens Energy AG
   

North America Hydrogen Generation Industry News

• In December 2022, Air Products and The AES Corporation announced an investment of around USD 4 billion for constructing, owning, and managing a green hydrogen production plant in Wilbarger County, Texas. This expansive renewable energy-to-hydrogen initiative involves about 1.4 gigawatts of wind and solar power generation, paired with an electrolyzer capacity capable of producing over 200 metric tons per day of green hydrogen.
   
• In April 2024, First State Hydrogen, Inc. contracted with Siemens Energy to design and perform an Energy System Design study for its green hydrogen production facility in the Mid-Atlantic region. This partnership marks a substantial advancement in establishing clean hydrogen infrastructure in the United States, reflecting the growing momentum towards sustainable energy solutions.
   

The North America hydrogen generation market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Billion” from 2021 to 2032, for the following segments:

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Market, By Delivery Mode

• Captive
• Merchant

Market, By Process

• Steam Reformer
• Electrolysis
• Others

Market, By Application

• Petroleum Refinery 
• Chemical
• Metal
• Others

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico