Hydrogen Generator Market (Product Type - On-site Generation, and Portable; Capacity - 1-100 W, 100-300 W, 300-700W, 700W-1 kW, 1-3kW, and 3kW and above; Process Type - Steam Reformer, and Electrolysis; Application - Chemical Processing, Petroleum Recovery, Refining, and Fuel Cells): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the hydrogen generator market provides an 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, forecasts, 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. A hydrogen generator is a device in which the electrochemical reaction takes place – the electrolysis of water. It is long been a known process of obtaining hydrogen and oxygen gas. The hydrogen generator is the unit that produces hydrogen that is mainly used as part of fuel efficiency systems and medical and research fields to produce high-purity hydrogen for gas chromatography, nanotube research, the 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. 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 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 generators. Moreover, increasing technological advancements, growing government inclination towards fuel cell electric vehicles (FCEV), and the use of hydrogen generators in the food and beverage industries to remove harmful bacteria are the factors projected to create 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, the 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 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, the 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 have prompted them towards the use of hydrogen fuel. Thus, increasing the demand for hydrogen generators.

Segment Covered

The report on the 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 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 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 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 insight into the market share of the leading players.