A recent report published by
Infinium Global Research on hydrogen generator market provides in-depth
analysis of segments and sub-segments in the global as well as regional
hydrogen generator market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional hydrogen generator
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of the global hydrogen generator
market. According to the report, the global hydrogen generator market is
projected to grow at a CAGR of 6% over the forecast period of 2022-2028.
Market
Insight
The revenue generated by the market
was approximately USD 1.1 billion in 2022 and is expected to reach
approximately USD 1.6 billion in 2028. Hydrogen Generator is a device in which
the electrochemical reaction takes place – electrolysis of water. It is long
been known process of obtaining hydrogen and oxygen gas. The hydrogen generator
is the unit that produces hydrogen that is mainly used in the as part of fuel
efficiency systems and medical and research fields to produce high purity
hydrogen for gas chromatography, nanotube research, semiconductor industry, and
many others. Hydrogen energy generated using a hydrogen generator is being
evaluated as one of the future energy possibilities and a possible fuel source
for twenty-first-century automobiles. A hydrogen generator produces hydrogen of
uniform purity, removing the danger of hydrogen quality variations.
The rapidly growing adoption of
clean-burning fuels is the major factor that drives the growth of the hydrogen
generator market. The hydrogen is used as an alternative to the fossil fuels
that helps to reduce the emission of carbon. The growing use of hydrogen as an
alternative fuel to the approximately 30% reduction in the consumption of
conventional fossil fuel. The high demand for low carbon emission gases from
the oil and gas, chemical, automotive and others are anticipated to escalate
the growth of hydrogen generator market. The rapidly growing adoption of
hydrogen the growth of the hydrogen generator market. The only factor
restraining the market is the high cost of installing and maintaining hydrogen
generator. Moreover, increasing technological advancements, growing government
inclination towards fuel cells electric vehicles (FCEV), and the use of
hydrogen generators in the food and beverage industries to remove harmful
bacteria’s are the factors projected to create the several opportunities for
the hydrogen generator market over the forecast period.
The global hydrogen generator
market is segmented into North America, Asia Pacific, Europe, and RoW region.
Among the geographies, North America region has the highest market share in the
hydrogen generator market in 2021 and is expected to maintain its stronghold
over the forecast period. The rising awareness about the clean fuels in the
North America region led to the high demand for hydrogen power generation
plants that are driving the growth of the hydrogen generator market in this
region. Furthermore, growing penetration of hydrogen in power generation,
transport, oil refining, methanol production, steel production and ammonia
production. Countries in Asia-Pacific such as China, India, Korea and Japan are
one of the major oil importers in the world and have to face volatile oil
prices which has prompted them towards the use of hydrogen fuel. Thus,
increasing the demand for hydrogen generators.
Segment
Covered
The report on global hydrogen
generator market covers segments such as product type, capacity, process type,
and application. On the basis of product type, the sub-markets include on-site
generation, and portable. On the basis of capacity, the sub-markets include
1-100 W, 100-300 W, 300-700W, 700W-1 kW, 1-3kW, and 3kW and above. On the basis
of process type, the sub-markets include steam reformer, and electrolysis. On
the basis of application, the sub-markets include chemical processing,
petroleum recovery, refining, and fuel cells.
Companies
Profiled:
The report provides profiles of
the companies in the market such as Air Liquide S.A., Praxair Technology, Inc,
Air Products and Chemicals, Inc., Proton Onsite, Inc, Hy9 Corporation,
Hydrogenics Corporation, Idroenergy srl, McPhy Energy S.A., Linde AG, and
Others.
Report
Highlights:
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of hydrogen generator market. Moreover, the study highlights current
market trends and provides forecast from 2022-2028. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.