According to the latest report by IMARC Group "Hydrogen Generation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global hydrogen generation market size reached a value of US$ 143 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 211 Billion by 2027, exhibiting a CAGR of 7.1% during 2022-2027.
Hydrogen can be generated using gasification, electrolysis, renewable liquid reforming, and fermentation. Its production process involves the utilization of domestic resources, such as fossil fuels, biomass, and water electrolysis. At present, several innovative methods are being introduced that are efficient, economical, and environment friendly.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
A considerable rise in the demand for hydrogen generation in refining petroleum, producing fertilizers, treating metals, and processing food products is driving the market. Besides this, due to the rising pollution levels, there is an increase in demand for clean and green fuel across the globe, which, in turn, is contributing to the market growth. Furthermore, governing agencies of numerous countries are implementing stringent regulations to minimize carbon emissions, which is positively influencing the sales of electric vehicles (EVs) around the world. This, along with the extensive application of hydrogen as a coolant in power plant generators, is propelling the growth of the market.
Breakup by Technology:
- Coal Gasification
- Steam Methane Reforming
Breakup by Application:
- Methanol Production
- Ammonia Production
- Petroleum Refinery
- Power Generation
Breakup by Systems Type:
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- AIR LIQUIDE (AI.PA)
- Air Products and Chemicals, Inc (APD)
- CLAIND srl
- INOX Air Products Ltd.
- Linde (NYSE:LIN)(FWB:LIN)
- Mahler AGS GmbH
- McPhy Energy SA (MCPHY:EN Paris)
- Messer Group GmbH
- NEL ASA (NEL.OL)
- Taiyo Nippon Sanso Corporation
- Weldstar Inc.
- Xebec Adsorption Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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