Global hydrogen generation market is expected to witness substantial growth during the forecast period owing to increasing adoption of hydrogen and awareness toward importance of energy conservation are expected to boost the global market for hydrogen generation. Rising efforts to shift focus from fossil fuels to renewable fuels is expected to further propel the hydrogen generation market expansion. Countries around the globe are introducing stringent norms to reduce the use of unconventional fuels which leads to excessive greenhouse gas emissions.
The global hydrogen generation market is projected to grow at a high rate during the forecast period, mainly due to the favorable government regulations and research and development activities of hydrogen. For instance, the Institution of Mechanical Engineers (IMechE) approached the government to set up support for the use of hydrogen to decarbonize the energy system across the power, heat. And transport sector. Moreover, the UK has a strong track record for new energy developments, moving ahead to become the world leader in power-to-gas and hydrogen technology. These initiatives and developments would further accelerate the demand for hydrogen generation market.
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Praxair, Inc. (US), Air Liquide S.A. (France), Air Products and Chemicals, Inc. (US), Hydrogenics (Canada), Iwatani (Japan), Messer Group (Germany), Plug Power (US), Linde (US), Showa Denko (Japan), Ballard Power systems (Canada), and Fuel cell Energy (US)
Hydrogen Generation Market Segmentation:
The global hydrogen generation market has been segmented based on generation & delivery type, storage, application, and region.
The global hydrogen generation market is further segmented based on generation and delivery type, including captive and merchant.
Based on application, the market is classified into petroleum refinery, ammonia production, methanol production, transportation, power generation, and others.
Based on storage, the industry is classified into on-board, underground, power-to-gas.
Geographically, the global hydrogen generation market has been segmented into regions such as Asia Pacific (APAC), Europe, North America, South America, and Middle East & Africa.
Hydrogen Generation Market Regional Outlook:
Region wise, Asia Pacific held the largest market share of the global hydrogen generation market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to growing demand to decarbonize energy use and increased demand for hydrogen to be used in fuel cell technology for electric vehicles. Demand for electric vehicles and efficient fuel technology in the countries such as China, Japan is expected to increase the growth of hydrogen generation to install efficient hydrogen fuel cell stations. For instance, in 2018, the Chinese government has established a 2 million new electric vehicle target which includes hydrogen fuel powered vehicles by 2020. This would boost the demand for hydrogen generation in the coming years.
LIST OF TABLES
Table 1 Global Hydrogen Generation Market: By Region, 2018–2023
Table 2 North America: Hydrogen Generation Market: By Country, 2018–2023
Table 3 Europe Hydrogen Generation Market: By Country, 2018–2023
Table 4 Asia-Pacific Hydrogen Generation Market: By Country, 2018–2023
Table 5 Middle East Hydrogen Generation Market: By Country, 2018–2023
Table 6 Africa Hydrogen Generation Market: By Country, 2018–2023
LIST OF FIGURES
Figure 1 Research Process Of MRFR
Figure 2 Top-Down & Bottom-Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
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