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.
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.
Key Players:
The key players of
the 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.
Industry 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.
Regional Outlook
Region wise, Asia Pacific held the
largest market share of the global hydrogen generation market in 2017. It is
estimated that Asia-Pacific region would be the fastest growing market during
the forecast period, mainly due to growing demand to decarbonize energy use and
increased demand for hydrogen to be used in fuel cell technology for electric
vehicles. Demand for electric vehicles and efficient fuel technology in the
countries such as China, Japan is expected to increase the growth of hydrogen
generation to install efficient hydrogen fuel cell stations. For instance, in
2018, the Chinese government has established a 2 million new electric vehicle
target which includes hydrogen fuel powered vehicles by 2020. This would boost
the demand for hydrogen generation in the coming years.
View More Info at: https://on.mktw.net/2VJI5TT
About
Market Research Future:
MRFR team have supreme objective to
provide the optimum quality market research and intelligence services to our
clients. Our market research studies by products, services, technologies,
applications, end users, and market players for global, regional, and country
level market segments, enable our clients to see more, know more, and do more,
which help to answer all their most important questions.
Contact:
Market Research Future
+1 646 845 9312
No comments:
Post a Comment