Hydrogen Generation Market (Technology - Coal Gasification, Steam Methane Reforming, Partial Oxidation (POX), and Electrolysis; Application - Methanol Production, Ammonia Production, Petroleum Refinery, Transportation, Power Generation, and Others; Type - Blue Hydrogen, Grey Hydrogen, and Green Hydrogen): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on hydrogen generation market provides in-depth analysis of segments and sub-segments in the global as well as regional hydrogen generation market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional hydrogen generation market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global hydrogen generation market.

Market Insight:

The global hydrogen generation market was valued at more than USD 137 billion in 2023 and is expected to reach over USD 225 billion in 2030, with a CAGR of above 5% during the forecast period.

Hydrogen can be produced from different domestic resources and have the potential for near-zero greenhouse gas emissions. There are two most common methods for producing hydrogen that is steam-methane reforming and electrolysis (splitting water with electricity). After production, hydrogen can able to generate electrical power in a fuel cell, and only emit water vapor and warm air. Hydrogen generation using this method is one of the promising solutions for reducing CO2 emissions after considering the huge global warming issue. Additionally, HTGR has the possibility to generate hydrogen economically compared with other types of nuclear reactors.

The rapidly growing adoption of clean-burning fuels is the major factor that drives the growth of the hydrogen generation market. Hydrogen is used as an alternative to 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 fuels. The high demand for low carbon emission gases from oil and gas, chemical, automotive, and others is anticipated to escalate the growth of the hydrogen generation market. The only factor restraining the market is the high cost of hydrogen energy storage. Moreover, increasing technological advancements and high adoption by different industry verticals are projected to create several opportunities for the hydrogen generator market over the forecast period.

The hydrogen generation market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific is expected to hold a maximum share of the hydrogen generation market during the projected period. The growth of the hydrogen generation market in the region is driven by the increasing consumption of hydrogen power. Hydrogen is used by different industries but the use is dominated by industries such as oil refining, ammonia production, methanol production, and steel production. Additionally, the rapid growth of various industries in several economies such as China, Japan, South Korea, and India showed a robust economic development that fostered the growth of the market in the Asia Pacific region.

Report Scope of the Hydrogen Generation Market:

Segment Covered

The report on global hydrogen generation market covers segments such as technology, application, and type. On the basis of technology, the sub-markets include coal gasification, steam methane reforming, partial oxidation (POX), and electrolysis. On the basis of application, the sub-markets include methanol production, ammonia production, petroleum refinery, transportation, power generation, and others. On the basis of type, the sub-markets include blue hydrogen, grey hydrogen, and green hydrogen.

Companies Profiled:

The report provides profiles of the companies in the market such as Air Products and Chemicals Inc., Air Liquide, Linde plc, ENGIE, Siemens Energy, Messer Group, Ballard Power Systems, FuelCell Energy, Inc., Plug Power Inc., and INOX-Air Products Inc..

Report Highlights:

The report provides deep insights into 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 the hydrogen generation market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. 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.