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Hydrogen Generation Market By Source (Natural Gas, Coal, Oil, Electrolysis), By Generation & Delivery Mode (By-Product Production, Gaseous Production, Liquid Production, Captive Production, Merchant Production), By Technology (Gasification, Electrolysis, Partial Oxidation, Others), By Application (Chemical Processing, Petroleum Refining & Recovery, Automotive Fuels, Methanol Production, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 -2027

Fuelling demand of Hydrogen over Conventional Fuel expected to boost the Hydrogen Generation Market over the coming years.

The global hydrogen generation market value surged from US$ 121.6 Bn in 2018 and is expected to reach US$ 228.9 Bn by 2027, expanding at a CAGR of 7.3% from 2019 to 2027.

Hydrogen has unique capabilities and significant potential in the low carbon energy future due to its abundance in the earth's atmosphere and lightest of all elements. Three characteristics largely drive its potential in a low-carbon energy future:

  • Efficient energy carrier and storage medium due to high specific energy content by weight.
  • The combustion of hydrogen produces only water and heat.
  • Electric energy can be produced by hydrogen or vice-versa.
  • The fuel cell process can convert oxygen and hydrogen into water and electrical energy.

However, high production costs and a lack of proper distribution channels worldwide are some of the prime factors hindering hydrogen adoption. Presently, 5000 miles of hydrogen pipelines are available globally.

Technology Analysis

Steam Reforming Segment held Largest Market Revenue Share in 2018.

In 2018, steam reforming held the largest revenue share in the global hydrogen generation market. The significant share of the segment is mainly due to its application in hydrogen production from conventional resources such as natural gas. Natural gas is a significant source of hydrogen and holds nearly 50% of the share of global hydrogen production. In addition, the steam reforming method provides the highest conversion efficiency of about 70-80% and improved operational and economic benefits. Thus many industries and refinery plants use it for commercial purposes.

Application Analysis

Automotive Fuel anticipated registering the fastest growth during the Forecast Period.

Automotive fuel is the most lucrative application segment in the hydrogen generation market. The segment growth is mainly attributed to the increasing global demand for fuel cell vehicles. As of February 2019, the United States Department of Energy (U.S. DoE) declares that the total number of on-road fuel cell vehicles in America has grown from 4,000 in 2015 to 6,500. In addition, Hydrogen Council has set global targets for fuel cell vehicles by 2030 of 350,000 commercial trucks, 50,000 buses, thousands of trains and ships, and 1 in 12 cars sold in California, Germany, Japan, and South Korea.

The automotive sector is among the major contributor to emissions. Significant government regulations toward controlling carbon emissions favor the growth of hydrogen-powered vehicles. In the wake of the same, recently Hydrogen Council announced a strict vision for 2050 with 18% of hydrogen energy share in the total energy consumption that would reduce Green House Gas (GHG) emissions by 20% worldwide.

Regional Analysis

Asia Pacific acquires Major Share in the Global Hydrogen Generation Market.

In 2018, Asia Pacific was the major revenue contributor in the global hydrogen generation market. An increasing number of refinery projects to fulfill the growing demand for fuels in China, India, and South Korea are the key factors that drive the market in the Asia region. As per Stratas Advisors, five integrated refinery projects were completed in 2019, and two are under construction. As a result, the refining industry of Asia Pacific is planning to add 1.61 million barrels per day (BPD) to meet the increasing oil demand in the region.

China is the fastest adopter of hydrogen energy and fuel cells. In 2019, the installed capacity of hydrogen fuel cells increased by six times during the starting seven months of the year. Moreover, China is the world's largest hydrogen producer, with a production capacity of 22 million tons per year. This has empowered China to build a hydrogen city with an average investment of US$ 290 million that will promote research and development in fuel cells. Further, in March 2019, Japan is planning to deploy 100 hydrogen fuel cell buses and 40,000 fuel cell electric vehicles during the Olympics game 2020 in Tokyo city.

Key Players & Competitive Landscape:

Increasing use of Hydrogen as a Fuel will spur the Competition in the Global Hydrogen Generation Market.

The global hydrogen generation market is highly competitive, as players are significantly engaged in developing new, environment-friendly hydrogen extraction technology. Moreover, hydrogen as a fuel has the capacity to reduce GHG emissions to a prominent rate. Therefore automobile manufacturers are also innovating hydrogen-powered vehicles to meet the stringent norms for carbon emission.

List of Companies Covered:

  • Air Liquide S.A.
  • Air Products and Chemicals Inc.
  • Iwatani Corporation
  • Hydrogenics
  • Linde Group
  • Praxair Inc.
  • Messer Group GmbH
  • Teledyne Energy Systems Inc.
  • FuelCell Energy Inc.
  • Showa Denko K. K.

Key Industry Development:

  • On September 24, 2019, Toyota Motor Corporation, the leading automobile manufacturer in Japan, announced to roll out 100 hydrogen fuel cell buses during the Olympics game 2020 in Tokyo city, Japan.
  • On June 8, 2017, the U.S. Department of Energy (DoE) announced the investment of US$ 15.8 million on thirty new projects for the development of fuel cell vehicles and hydrogen production.

Historical & Forecast Period

This research study provides qualitative and quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, CAGR (Compounded Annual Growth Rate) for each segment and sub-segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The hydrogen generation market research offers market size and forecasts based on market dynamics and predominant trends shaping the industry. In addition, the report provides an all-around view of the global hydrogen generation market based on source, generation & delivery mode, technology, application, and geography. Key segments covered in the report are as follows:

Frequently Asked Questions

What is the Hydrogen Generation Market CAGR?

The Hydrogen Generation market is expected to see significant CAGR growth over the coming years, at 7.3%.

The report is forcasted from 2019-2027.

The base year of this report is 2018.

Air Liquide S.A., Air Products and Chemicals Inc., Iwatani Corporation, Hydrogenics, Linde Group, Praxair Inc., Messer Group GmbH, Teledyne Energy Systems Inc., FuelCell Energy Inc. are some of the major players in the global market.

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Published Date:  Jan 2020
Category:  Energy
Report ID:   60168
Report Format:   PDF
Pages:   120
Rating:    4.4 (70)
Delivery Time: 24 Hours to 48 Hours   
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