The global hydrogen generation market is estimated to expand at
~7.80% CAGR during the forecast period. Hydrogen is the most abundantly available elements in our
universe. It is present in the atmosphere in the gaseous state. At present, the
most dominant technology for hydrogen production is steam reforming. Other
hydrogen generation methods include electrolyzing and thermolysis. According to
International Energy Agency (IEA), in June 2018, France announced its Hydrogen
Deployment Plan for Energy Transition which includes targets for hydrogen
deployment (including 20-40% green hydrogen production) and a reduction of
electrolysis cost to 2-3 Euro per kg by 2028. This would contribute to the
growth of hydrogen generation market during the forecast period.
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The growing demand for hydrogen generation market is
attributed to the need for cleaner energy to reduce carbon emission and
government regulations for desulphurization of refinery activities. Hydrogen
plays an important role in the crude oil refining operations as it is required
in several units for the desulphurization and upgrading of various oil
fractions. This would boost the growth of hydrogen generation market. One of
the major restraints for the global hydrogen generation market is the high
energy consumption of hydrogen generation technologies.
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Segmentation
Global hydrogen generation market has been segmented
based on generation & delivery type, storage, application, and region. The
global hydrogen generation market is further segmented based on generation and
delivery type, including captive and merchant. Captive hydrogen is estimated to
grow at a faster rate as it eliminates numerous problems linked to conveyance
and distribution of hydrogen. Based on application, the market is classified
into petroleum refinery, ammonia production, methanol production,
transportation, power generation, and others. The transportation segment is
expected to be the fastest growing application segment due to the growing
demand for fuel cell based electric vehicles and buses especially in Asia
Pacific and North America regions.
Key
Players
The key players of global hydrogen generation market
are Praxair, Inc. (US), Air Liquide S.A. (France), Air Products and Chemicals,
Inc. (US), Hydrogenics (Canada), Iwatani (Japan), Messer Group (Germany), Plug
Power (US), Linde (US), Showa Denko (Japan), Ballard Power systems (Canada),
and Fuelcell Energy (US), among others.
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