Showing posts with label Global Hydrogen Generation Market. Show all posts
Showing posts with label Global Hydrogen Generation Market. Show all posts

Wednesday, April 17, 2024

Hydrogen Generation Market Witness Robust Expansion By 2028 With Prominent Key Players: Air Liquide, Linde plc, Shell plc

According to a research report, the global hydrogen generation market is projected to reach USD 257.9 billion by 2028 from an estimated USD 158.8 billion in 2023, at a CAGR of 10.2% during the forecast period. The growing emphasis on environmental sustainability, rising adoption of fuel cell vehicles, and intermittent renewable energy integration accelerate the growth of the hydrogen generation market.

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This report segments the hydrogen generation market based on application into six categories: petroleum refinery, transportation, ammonia production, methanol production, power generation and others. Petroleum Refinery is expected to hold the largest market share in the hydrogen generation market during the forecast period. The rising demand for hydrogen in petroleum refineries can be attributed to the exceptional characteristics of hydrogen, which are essential for a variety of applications within hydrocarbon processing units. Hydrogen is a key component in various desulfurization processes such as  Hydrodesulfurization and catalytic Reforming used in petroleum refineries to meet environmental regulations and reduce the sulfur content in crude oil and its derivatives are the factors that are expected to drive the growth of the petroleum refinery segment during the forecast period.

Based on the Source segment, the hydrogen generation market is segmented into blue hydrogen, gray hydrogen and green hydrogen. The green hydrogen segment is expected to dominate the market during the forecast period as green hydrogen is an environmentally friendly energy source. Green hydrogen is inherently intertwined with the principles of sustainability, making it a vital component of efforts to mitigate environmental impact. By harnessing renewable energy sources like wind and solar power for its production, green hydrogen plays a pivotal role in minimizing carbon emissions and advancing the transition towards cleaner energy.

Based on the technology, the generation market is segmented into steam methane reforming, partial oxidation, coal gasification, auto thermal reforming, and electrolysis. The electrolysis segment is expected to be the fastest growing market during the forecast period owing to the low carbon emission compared to other methods and high purity. Electrolysis technology is highly versatile and environmentally friendly as compared to other technologies, which is expected to drive the growth of the electrolysis segment in the forecasted period.

This report segments the hydrogen generation market based on region into North America, Europe, Asia Pacific, South America, Middle East, and Africa . During the forecast period, the Europe segment holds the second highest CAGR due to adoption of hydrogen fuel cell vehicles in the region. According to  European Council for an Energy Efficient Economy (ICEEE), The European Union (EU) set a target of 30 million zero emission vehicles by 2030.

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Asia Pacific is expected to be the fastest-growing region in the hydrogen generation market.

Asia Pacific is expected to be the fastest growing region in the hydrogen generation market during the forecast period. The Asia Pacific region comprises major economies such as China, Japan, India, Australia, and South Korea. The hydrogen generation market in Asia Pacific is primarily fueled by the increasing number of petroleum refineries and usage of hydrogen in these refineries. Asia Pacific is one of the leading markets for adopting green technologies to meet the government targets for reducing GHG emissions. Japan and South Korea have been heavily investing in fuel cell adoption since 2009 because of the commercial deployment of Japanese fuel cell micro-CHP products. Japan is the first nation to commercialize fuel cells and is supporting projects related to the use of fuel cells in residential and automotive applications. It aims to deploy green hydrogen on a large scale. The country plans to have 200,00 green hydrogen fuel cell vehicles and 320 hydrogen refueling stations by 2025 to meet the global carbon emission standards.

Key Market Players

Some of the major players in the hydrogen generation market are Air Liquide (France), Linde plc (Ireland), Air Products and Chemicals, Inc. (US), Shell plc (UK), and Saudi Arabian Oil Co. (Saudi Arabia). The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, joint ventures, collaborations, investments, and expansions.

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Monday, August 22, 2022

Hydrogen Generation Market Soaring at 10.5% CAGR to Reach $263.5 Billion by 2027

Hydrogen Generation Market is projected to grow from USD 160 billion in 2022 to USD 263.5 billion by 2027, at a CAGR of 10.5%, according to a new report by MarketsandMarkets™. The factors driving the growth for Hydrogen Generation Market is increasing hydrogen demand in the petroleum refineries and for the application of transportation and electricity sectors.

Browse in-depth TOC on "Hydrogen Generation Market"

298 – Tables 
61 – Figures
280 – Pages

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Green Hydrogen is estimated to be the fastest growing in the source segment.

The Hydrogen Generation Market, by source, is segmented into Blue hydrogen, Gray hydrogen and Green hydrogen. Green hydrogen is estimated to have the largest market share and is expected to grow at the highest rate during the forecast period. The higher growth rate of this segment is because it is considered as useful fuel and emits low-carbon while generation.

The petroleum refinery segment is expected to be the most significant Hydrogen Generation Market, by application.

The Hydrogen Generation Market, by application, is segmented into Refinery, Ammonia Production, Methanol Production, Transportation, Power Generation. The petroleum refinery segment accounted for the largest share of 10.7% of the Hydrogen Generation Market in 2021. The rising applications of hydrogen in oil refineries to foster demand for hydrogen is expected to drive the petroleum refineries segment during the forecast period.

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Asia Pacific is expected to be fastest growing region the global Hydrogen Generation Market

The Asia Pacific is estimated to be the fastest market for the Hydrogen Generation Market, followed by North America. The North America is projected to be the second fastest-growing market during the forecast period. The oil refining and chemical industries and transportation and electricity sectors are experiencing significant demand for hydrogen in this region.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Hydrogen Generation Market. These players include Siemens (Germany), Linde plc (Ireland), ENGIE (France), Air Liquide (France), and Air Products Inc. (US).

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Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

Related Reports:

Hydrogen Energy Storage Market by State (Gas, Liquid, Solid), Technology (Compression, Liquefaction, Material Based), Application (Stationary Power, Transportation), End User (Electric Utilities, Industrial, Commercial), Region - Global Forecast to 2027

Power-to-gas Market by technology (Electrolysis and Methanation), Capacity (Less than 100 kW, 100–999kW, 1000 kW and Above), End-User (Commercial, Utilities, and Industrial), and Region (North America, Europe, Asia Pacific) - Global Forecast to 2024

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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MarketsandMarkets™ INC. 
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Northbrook, IL 60062
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Email: newsletter@marketsandmarkets.com 

Friday, April 22, 2022

Hydrogen Generation Market Expected to Witness the Highest Growth during 2020-2025

Global Hydrogen Generation Market Scenario:

The hydrogen generation market size is projected to reach USD 201 billion by 2025 from an estimated USD 130 billion in 2020, at a CAGR of 9.2% during the forecast period. Increased focus on hydrogen based economy for applications such as power generation or fueling cars and buses, that during combustion can cause less carbon emissions. This has led to increased investments in the enhancement of strong hydrogen-based economy. Furthermore, the hydrogen generation market is driven by the increased government regulations for desulphurization and gren house gas emissions.

Browse 243 market data Tables and 61 Figures spread through 274 Pages and in-depth TOC on "Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production, Transportation, Power Generation), Generation & Delivery Mode (Captive, Merchant), Source (Blue, Green & Grey Hydrogen), Technology, and Region-Forecast to 2025"

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The hydrogen generation market, by technology, is segmented into Steam Methane Reforming (SMR), Electrolysis, Partial Oxidation (POX), and coal gasification. Steam Methane Reforming (SMR) technology is observed to be new revenue pockets for the hydrogen generation market owing to the increasing demand for hydrogen systems to cut the carbon emissions. SMR is a cost- and energy-efficient way of producing hydrogen. In this process, a desulfurized hydrocarbon feedstock (natural gas, refinery gas, liquefied petroleum gas, or naphtha) is pre-heated, mixed with steam, and optionally pre-reformed before passing a catalyst in a proprietary top-fired steam reformer to produce hydrogen, carbon monoxide (CO), and carbon dioxide (CO2). This is a commonly used method due to the easy availability of raw material (methane) and the cost-effective nature of the process. The rise in consumption of hydrogen by petroleum refineries has increased recently due to clean-fuel programs, which require refiners to produce low-sulfur gasoline and ultra-low-sulfur diesel fuel.

The report segments the hydrogen generation market, by source , into green hydrogen, blue hydrogen and grey hydrogen. The blue hydrogen segment is expected to grow at the highest CAGR during the forecast period, owing to the increasing demand for capturing and reusing carbon emissions. Blue hydrogen is derived from natural gas through steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction creates hydrogen and carbon monoxide. Additional water is added to the mixture, converting the carbon monoxide to carbon dioxide and creating more hydrogen. The carbon dioxide emissions produced are then captured and stored underground using the carbon capture, utilization, and storage (CCUS) technology, leaving nearly pure hydrogen. The cost of generating blue hydrogen is low. Alberta is aiming to export blue hydrogen globally by 2040. For instance, in October 2020, Alberta’s government announced a hydrogen strategy focused on carbon emissions to be competitive amid the global transition to sustainable energy. The strategy identifies the opportunity of using Alberta's natural gas resources and its experience with carbon capture and storage (CCS) to produce low-emission blue hydrogen for local use or export to other domestic and international markets.

Asia Pacific is estimated to be the fastest growing market for the hydrogen generation during the forecast period. The region has been segmented, by country, into Japan, China. India, Australia, and Rest of Asia Pacific. Rest of Asia Pacific includes Malaysia, Thailand, the Philippines, Singapore, Indonesia, and Myanmar. Asia Pacific is one of the leading markets for adopting green technologies to meet the government targets for reducing GHG emissions. Japan and South Korea are heavily investing in fuel cell adoption since 2009 because of the commercial deployment of Japanese fuel cell micro-CHP products. Japan is the first nation to commercialize fuel cells and is supporting the projects related to the use of fuel cells in residential and automotive applications. It aims to deploy green hydrogen on a large scale. The country plans to have 200,00 green hydrogen fuel cell vehicles and 320 hydrogen refueling stations by 2025 to meet the global carbon emission standards.  Singapore, India, and Malaysia are also showing interest and have just started or are expected to start exclusive programs to promote fuel cells in regional markets. These countries are initially focusing on backup power (stationary application) fuel cells.

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Key Market Players:

The major players in the global hydrogen generation market are  include Linde (Germany), Air Liquide (France), Air Products &Chemicals (US), Uniper (Germany), and Engie (France).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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MarketsandMarkets™ INC.
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Wednesday, March 30, 2022

Hydrogen Generation Market to Be Expected to Expand at a Steady CAGR Through 2025

According to the latest research report Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production, Transportation, Power Generation), Generation & Delivery Mode (Captive, Merchant), Source (Blue, Green & Grey Hydrogen), Technology, and Region – Forecast to 2025″ The hydrogen generation market size is projected to reach USD 201 billion by 2025 from an estimated USD 130 billion in 2020, at a CAGR of 9.2% during the forecast period. Increasing fuel cell power generation application is driving the growth of the market. Moreover, increasing adoption of electric vehicles leads to renewable energy deployment at large scale in Asia Pacific region, creates opportunities for hydrogen generation market.

Key Market Players:

A few major players that have a wide regional presence dominate the hydrogen generation market. The leading players in the hydrogen generation market include Linde (Germany), Air Products & Chemicals (US), Air Liquide (France), Uniper (Germany), and Engie (France).

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The electrolysis technology segment is expected to grow at the highest CAGR from 2020 to 2025.

The increasing use of fuel cells in power generation and transportation is likely to drive the market for electrolysis. Through electrolysis, the electrolyzer system creates hydrogen gas. The oxygen that is left over is released into the atmosphere or can be captured or stored. This stored hydrogen can be supplied for other industrial processes or even used for medical gases in some cases. The hydrogen gas can either be stored as a compressed gas or liquefied, and since hydrogen is an energy carrier, it can be used to power any hydrogen fuel cell electric application — including trains, buses, trucks, or data centers. Measures have been taken by governments to boost the demand for water electrolysis. For instance, the US Department of Energy (DOE) has set technical targets and cost contributions for hydrogen production from water electrolysis.  

The transportation application segment is expected to grow at the highest CAGR in the hydrogen generation industry during the forecast period.

Rapid rise in demand for Fuel Cell Electric Vehicle (FCEV) in Asia Pacific region is likely to drive the market for hydrogen generation in the coming years. Hydrogen finds its application in various modes of transportation, such as buses, trains, fuel cell electric vehicles (FCEV), and others (including marine, airplane, and drones). FCEVs are powered by hydrogen. They are more efficient than conventional internal combustion engine vehicles and produce no tailpipe emissions; they only emit water vapor and warm air. Fuel cell vehicles use hydrogen to power the electric motor by combining hydrogen and oxygen (from the air) to produce electricity, which runs the motor. This process of converting hydrogen gas into electricity produces only water and heat as byproducts, thus eliminating harmful gaseous emissions. It is expected that fuel cell cars and trucks can reduce emissions by over 30% compared with their gasoline-powered counterparts. Refueling a fuel cell electric vehicle takes less than 10 minutes. Therefore, FCEV vehicles are expected to increase the demand for hydrogen.

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The blue hydrogen is expected to grow at the highest CAGR during the forecast period.

Blue hydrogen is derived from natural gas through steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction creates hydrogen and carbon monoxide. Additional water is added to the mixture, converting the carbon monoxide to carbon dioxide and creating more hydrogen. The carbon dioxide emissions produced are then captured and stored underground using the carbon capture, utilization, and storage (CCUS) technology, leaving nearly pure hydrogen. The cost of generating blue hydrogen is low. However, hydrogen also presents challenges when moved in large quantities, as it is light in weight. Alberta is aiming to export blue hydrogen globally by 2040. For instance, in October 2020, Alberta’s government announced a hydrogen strategy focused on carbon emissions to be competitive amid the global transition to sustainable energy. The strategy identifies the opportunity of using Albertas natural gas resources and its experience with carbon capture and storage (CCS) to produce low-emission blue hydrogen for local use or export to other domestic and international markets. Therefore, increasing demand for capturing and reusing carbon emissions drive the blue hydrogen segment.

The merchant generation & delivery mode segment is expected to grow at the highest CAGR in the hydrogen generation industry during the forecast period.

Increasing large scale hydrogen production through water electrolysis and natural gas process is expected to drive the merchant segment. Merchant hydrogen can be produced by both water electrolysis and natural gas processes. This method reduces the need for transportation of fuel and, subsequently, the need for construction of new hydrogen generation infrastructure. However, its limited production capacity leads to higher hydrogen costs compared with captive hydrogen generation. Small-scale reformers and existing natural gas pipelines are generally employed by merchant hydrogen producers to supply hydrogen to customers on-site. Hydrogen is generated at offsite refineries and refueling stations using either natural gas or water and electricity. The electrolyzers used for merchant hydrogen generation produce pure oxygen as a by-product along with hydrogen. This oxygen is used to enrich the content of greenhouse gases for food production.

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Asia Pacific likely to emerge as the largest hydrogen generation market

In this report, the hydrogen generation market has been analyzed for four regions, namely, Europe, Asia Pacific, North America, South America, Middle East and Africa. Asia Pacific is one of the leading markets for adopting green technologies to meet the government targets for reducing GHG emissions. Japan and South Korea are heavily investing in fuel cell adoption since 2009 because of the commercial deployment of Japanese fuel cell micro-CHP products. Japan is the first nation to commercialize fuel cells and is supporting the projects related to the use of fuel cells in residential and automotive applications. It aims to deploy green hydrogen on a large scale. The country plans to have 200,00 green hydrogen fuel cell vehicles and 320 hydrogen refueling stations by 2025 to meet the global carbon emission standards.  Singapore, India, and Malaysia are also showing interest and have just started or are expected to start exclusive programs to promote fuel cells in regional markets. These countries are initially focusing on backup power (stationary application) fuel cells.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the hydrogen generation market. The major players in the hydrogen generation industry are) Linde (Germany), Air Liquide (France ), Air Products & Chemicals (US), Uniper (Germany), and Engie (France). These players are adopting various strategies to increase their share in the hydrogen generation market. Joint ventures, collaborations & partnerships contracts & agreements, investments and expansions and acquisitions have been a widely adopted strategy by the major players in the hydrogen generation industry.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Thursday, February 18, 2021

Hydrogen Generation Market Segmentation, Application, Technology, Analysis Research Report and Forecast to 2025

The report "Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production, Transportation, Power Generation), Generation & Delivery Mode (Captive, Merchant), Source (Blue, Green & Grey Hydrogen), Technology, and Region - Forecast to 2025" The hydrogen generation market size is projected to reach USD 201 billion by 2025 from an estimated USD 130 billion in 2020, at a CAGR of 9.2% during the forecast period. Increasing fuel cell power generation application is driving the growth of the market. Moreover, increasing adoption of electric vehicles leads to renewable energy deployment at large scale in Asia Pacific region, creates opportunities for hydrogen generation market.

Browse 243 market data Tables and 61 Figures spread through 263 Pages and in-depth TOC on "Hydrogen Generation Market - Forecast to 2025"

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The electrolysis technology segment is expected to grow at the highest CAGR from 2020 to 2025.

The increasing use of fuel cells in power generation and transportation is likely to drive the market for electrolysis. Through electrolysis, the electrolyzer system creates hydrogen gas. The oxygen that is left over is released into the atmosphere or can be captured or stored. This stored hydrogen can be supplied for other industrial processes or even used for medical gases in some cases. The hydrogen gas can either be stored as a compressed gas or liquefied, and since hydrogen is an energy carrier, it can be used to power any hydrogen fuel cell electric application — including trains, buses, trucks, or data centers. Measures have been taken by governments to boost the demand for water electrolysis. For instance, the US Department of Energy (DOE) has set technical targets and cost contributions for hydrogen production from water electrolysis.  

The transportation application segment is expected to grow at the highest CAGR in the hydrogen generation industry during the forecast period.

Rapid rise in demand for Fuel Cell Electric Vehicle (FCEV) in Asia Pacific region is likely to drive the market for hydrogen generation in the coming years. Hydrogen finds its application in various modes of transportation, such as buses, trains, fuel cell electric vehicles (FCEV), and others (including marine, airplane, and drones). FCEVs are powered by hydrogen. They are more efficient than conventional internal combustion engine vehicles and produce no tailpipe emissions; they only emit water vapor and warm air. Fuel cell vehicles use hydrogen to power the electric motor by combining hydrogen and oxygen (from the air) to produce electricity, which runs the motor. This process of converting hydrogen gas into electricity produces only water and heat as byproducts, thus eliminating harmful gaseous emissions. It is expected that fuel cell cars and trucks can reduce emissions by over 30% compared with their gasoline-powered counterparts. Refueling a fuel cell electric vehicle takes less than 10 minutes. Therefore, FCEV vehicles are expected to increase the demand for hydrogen.

The blue hydrogen is expected to grow at the highest CAGR during the forecast period.

Blue hydrogen is derived from natural gas through steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction creates hydrogen and carbon monoxide. Additional water is added to the mixture, converting the carbon monoxide to carbon dioxide and creating more hydrogen. The carbon dioxide emissions produced are then captured and stored underground using the carbon capture, utilization, and storage (CCUS) technology, leaving nearly pure hydrogen. The cost of generating blue hydrogen is low. However, hydrogen also presents challenges when moved in large quantities, as it is light in weight. Alberta is aiming to export blue hydrogen globally by 2040. For instance, in October 2020, Alberta’s government announced a hydrogen strategy focused on carbon emissions to be competitive amid the global transition to sustainable energy. The strategy identifies the opportunity of using Albertas natural gas resources and its experience with carbon capture and storage (CCS) to produce low-emission blue hydrogen for local use or export to other domestic and international markets. Therefore, increasing demand for capturing and reusing carbon emissions drive the blue hydrogen segment.

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The merchant generation & delivery mode segment is expected to grow at the highest CAGR in the hydrogen generation industry during the forecast period.

Increasing large scale hydrogen production through water electrolysis and natural gas process is expected to drive the merchant segment. Merchant hydrogen can be produced by both water electrolysis and natural gas processes. This method reduces the need for transportation of fuel and, subsequently, the need for construction of new hydrogen generation infrastructure. However, its limited production capacity leads to higher hydrogen costs compared with captive hydrogen generation. Small-scale reformers and existing natural gas pipelines are generally employed by merchant hydrogen producers to supply hydrogen to customers on-site. Hydrogen is generated at offsite refineries and refueling stations using either natural gas or water and electricity. The electrolyzers used for merchant hydrogen generation produce pure oxygen as a by-product along with hydrogen. This oxygen is used to enrich the content of greenhouse gases for food production.

Asia Pacific likely to emerge as the largest hydrogen generation market

In this report, the hydrogen generation market has been analyzed for four regions, namely, Europe, Asia Pacific, North America, South America, Middle East and Africa. Asia Pacific is one of the leading markets for adopting green technologies to meet the government targets for reducing GHG emissions. Japan and South Korea are heavily investing in fuel cell adoption since 2009 because of the commercial deployment of Japanese fuel cell micro-CHP products. Japan is the first nation to commercialize fuel cells and is supporting the projects related to the use of fuel cells in residential and automotive applications. It aims to deploy green hydrogen on a large scale. The country plans to have 200,00 green hydrogen fuel cell vehicles and 320 hydrogen refueling stations by 2025 to meet the global carbon emission standards.  Singapore, India, and Malaysia are also showing interest and have just started or are expected to start exclusive programs to promote fuel cells in regional markets. These countries are initially focusing on backup power (stationary application) fuel cells.

Ask FREE Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=494

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the hydrogen generation market. The major players in the hydrogen generation industry are) Linde (Germany), Air Liquide (France ), Air Products & Chemicals (US), Uniper (Germany), and Engie (France). These players are adopting various strategies to increase their share in the hydrogen generation market. Joint ventures, collaborations & partnerships contracts & agreements, investments and expansions and acquisitions have been a widely adopted strategy by the major players in the hydrogen generation industry.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Tuesday, April 16, 2019

Hydrogen Generation Market: Drivers, Restraints, Opportunities, & Challenges 2018-2023



The global hydrogen generation market is projected to reach USD 199.1 billion by 2023 from an estimated USD 135.5 billion in 2018, at a CAGR of 8.0%. The growth of the hydrogen generation market is driven by the growing need to decarbonize the energy end-use, rising demand for fuel cells in the transportation sector, and stringent regulations to regulate the sulfur content in fossil fuel generation.


The hydrogen generation market is dominated by a few major players that have a wide geographical presence and are established brand names. Leading players in the hydrogen generation market include Air Liquide (France), Air Products and Chemicals (US), Iwatani (Japan), Hydrogenics (Canada), Linde (Germany), Praxair (US), Messer Group (Germany), Showa Denko (Japan), Ally Hi-Tech (China), Caloric (Germany), Claind (Italy), Erredue (Italy), HyGear (Netherlands), Nuvera Fuel Cells (US), Proton OnSite (US), Taiyo Nippon Sanso (Japan), Teledyne Energy Systems (US), Xebec (Canada), Ballard Power Systems (Canada), FuelCell Energy (US), and Plug Power (US).

Merchant hydrogen generation segment is estimated to be the fastest growing market for hydrogen generation from 2018 to 2023. This segment is expected to witness growth because of increased demand in transportation and power generation. Merchant hydrogen generation is carried out by adopting various methods such as water electrolysis and small-scale reformers.  

Asia Pacific is the fastest growing market for hydrogen generation from 2018 to 2023. Increasing refinery operations and rising investments to promote fuel cell electric vehicles in countries such as China and Japan are expected to drive the market for hydrogen generation in the region.

The electrolysis of water technology segment is expected to grow at the highest rate from 2018 to 2023. Electrolysis is a clean method to produce hydrogen with no emissions of greenhouse gases but has high energy consumption. Currently, excess renewable energy from the grid is used by operators to carry out electrolysis and generate hydrogen. All these factors will drive the growth of electrolysis technology during the forecast period.


Based on application, the transportation segment is estimated to grow at the highest rate from 2018 to 2023. The demand for hydrogen has increased in the transportation sector with increasing deployment of fuel cells in countries such as China, Japan, and the US. Also, power generation applications such as stationary and portable power for remote power generation and backup operations also drive the market for hydrogen. Major players operating in the hydrogen generation market are currently investing in hydrogen infrastructure projects such as hydrogen filling stations to complement the growth of the transportation segment.

Thursday, November 15, 2018

Hydrogen Generation Market is Expected to Be Worth $199.1 Billion by 2023; at a CAGR of 8.0% during forecast period.



According to the new market research report “Hydrogen Generation Market by Generation, Application (Petroleum Refinery, Ammonia Production, Methanol Production, Transportation, Power Generation), Technology (Steam Reforming, Water Electrolysis, & Others), Storage, and Region”, published by MarketsandMarkets™, the Hydrogen Generation Market is expected to reach USD 199.1 billion by 2023, at a CAGR of 8.0% from 2018 to 2023. The hydrogen generation market is expected to grow from USD 135.5 billion in 2018 to USD 199.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.0% during the forecast period.

Browse and in-depth TOC on "Hydrogen Generation Market"
124 - Tables
48 - Figures
221 - Pages

Don’t miss out on business opportunities in Hydrogen Generation Market. Download our PDF Brochure and gain crucial industry insights that will help your business grow:


The major factors driving the hydrogen generation market include the growing demand to decarbonize energy end-use, government regulation for desulphurization of refinery activities, and increased demand for hydrogen in the transportation sector. Stringent restrictions on desulphurization of refinery products are expected to drive the hydrogen generation market.

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The transportation segment is expected to grow at the highest CAGR in the global hydrogen generation market during the forecast period

The hydrogen generation market has been segmented based on application into petroleum refinery, ammonia production, methanol production, transportation, power generation, and others. The transportation segment is driven by the growing demand for fuel cell based electric vehicles and buses in North America and Asia Pacific regions. Countries such as the US, China, and Japan are currently investing in developing hydrogen fuel cell infrastructure such as fuel stations and hydrogen generation methods.


Electrolysis technology is expected to grow at the highest CAGR in the global hydrogen generation market during the forecast period

The hydrogen generation market, by technology, is segmented into steam reforming, partial oxidation, gasification, and electrolysis techniques. Electrolysis technology segment is expected to grow at the highest rate during the forecast period with the increasing demand for fuel cells in transportation and power generation operations. Also, major players are currently using the electrolysis technology through excess renewable power integration that further increases the efficiency of operations.


Asia Pacific is expected to hold the largest market size in the hydrogen generation market during the forecast period

Asia Pacific is estimated to account for the largest share of the market in 2018. The Asia Pacific region is considered the most advanced region in terms of technology innovation and infrastructure of fuel cells. Automotive companies based in the region such as Toyota and Honda are pioneers in fuel cell technology research and have been investing in the fuel cell technology for more than three decades. With rising demand for fossil fuels in transportation operations and growing need to decarbonize energy end-use, hydrogen is expected to play a major role in the fuel transition of the region. The rising demand from stationary and portable power generation applications is also likely to positively impact the hydrogen generation market during the forecast period. All these factors are expected to drive the hydrogen generation market in the Asia Pacific region.

Major vendors in the hydrogen generation market include Air Liquide (France), Air Products and Chemicals (US), Iwatani (Japan), Hydrogenics (Canada), Linde (Germany), Praxair (US), Messer Group (Germany), Showa Denko (Japan), Ally Hi-Tech (China), Caloric (Germany), Claind (Italy), Erredue (Italy), HyGear (Netherlands), Nuvera Fuel Cells (US), Proton OnSite (US), Taiyo Nippon Sanso (Japan), Teledyne Energy Systems (US), Xebec (Canada), Ballard Power Systems (Canada), FuelCell Energy (US), and Plug Power (US).

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