Hydrogen Generation
Market Report Overview:
Hydrogen
is one of the core elements that is abundantly available around us. It has a
lot of potential in several industries but its ability to produce energy is
becoming prominent owing to its traction from the automobile sector. The global
hydrogen generation market can record a 7.8% CAGR during the forecast period
(2018-2023). Market Research Future (MRFR) in their detailed analysis discusses
the possibilities for the hydrogen generation market to capitalize on the
growth factors and cross the expected valuation by 2023. Demand for clean fuel
to rise exponentially and hydrogen fuel cells can become the perfect
alternative. This is particularly true for a country like China that has vowed
to take down their carbon emission by 20% in the coming years.
Segmentation:
The
global Hydrogen
Generation Market Report is segmented by MRFR on the basis of
generation & delivery type, storage, and application. This segmentation
aims at providing better emphasis on the factor-wise and figure-wise analysis
of the market to get a comprehensive overview.
Based
on the generation & delivery type, the global hydrogen generation market
can be segmented into captive and merchant. The captive hydrogen segment is
expected to grow with the fastest CAGR during the forecast period owing to its
easy conveyance.
Based
on the storage, the global hydrogen generation market can be segmented into
on-board storage, underground storage, and power-to-gas storage.
Based
on the application, the global hydrogen generation market includes power
generation, ammonia production, petroleum refinery, transportation, methanol
production, and others. The transportation segment is gaining grounds due to
the increasing demand for electric vehicles and buses during the forecast
period.
Regional Analysis:
North
America, Europe, Asia Pacific (APAC), Middle East, Africa, and South America
are the six regions that have been studied for a region-specific analysis of
the global hydrogen generation market. This type of analysis makes it easier to
understand demographic changes.
The
APAC market is leading the global market with substantial revenue. The regional
market has strong industries in countries like India, China, Japan, South
Korea, Thailand, and others.
Europe
is playing a significant role in taking the market ahead. The regional market
is getting boosts from government initiatives to phase out cars that run on
fossil fuels. Europe is also gaining much from the robust automotive sector.
The commercial sector is boosting the regional market.
Competitive Landscape:
Intense
competition in the global hydrogen generation market is taking place due to the
deployment of several strategies by different companies. MRFR in their report
enlisted companies and profiled them with their latest updates to have a
detailed report of the hydrogen generation market. These companies are Air
Products and Chemicals, Inc. (US), Praxair, Inc. (US), Air Liquide S.A.
(France), Messer Group (Germany), Hydrogenics (Canada), Iwatani (Japan),
Fuelcell Energy (US), Linde (US), Plug Power (US), Ballard Power systems
(Canada), Showa Denko (Japan), and others.
Related
Reports:
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