Hydrogen Generation Market by Type, Share, Growth & Forecast 2024

Zion Market Research, the market research group announced the analysis report ‘Hydrogen Generation Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts, 2016-2024

Global Hydrogen Generation Market: Overview

Hydrogen is a chemical element found on the earth, which is clean, efficient, and most versatile in nature with zero emission carrier of energy. It is not present in its molecular form but is available in plentiful amounts. It is nonmetallic, colorless, non-toxic, odorless, highly combustible and tasteless diatomic gas. Water is the primary raw material used in the production process of hydrogen generation, which is a very environment-compatible process. It is the most renewable fuel that can be manufactured and transformed into electricity. It can be stored in various forms such as metal hydrides, gaseous, and liquid. It can transform into other energy forms via chemical conversions, catalytic combustion, and hydriding. Hydrogen possesses easy transportation, high efficiency, low boiling point and lightweight making it ideal for industrial use. It is an environment-friendly fuel as it produces pollution-free combustion products.

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Global Hydrogen Generation Market: Growth Factors

Rising demand for cleaner fuels is a key factor for the growth of the global market. The decrease in quality of crudes and growth & development in the transportation sector are others factors responsible for the global market growth in future. Stringent regulations are implemented to avoid desulfurization problems while transportation may boost the global hydrogen generation market growth. Demand for distillate fuels and resulting development of the hydrogen fuel cell are anticipated to foster the global market growth in coming years. However, reduced quality of crude increased the importance of hydrogen for processing purposes; this is positively enhancing the global market. Hydrogen is highly flammable in nature; hence, it requires high safety during transportation and absence of appropriate transportation networks causes an increase in transportation costs; this is a major restraining factor of the global hydrogen generation market.

Global Hydrogen Generation Market: Segmentation

The global hydrogen generation market is classified based on generation & delivery mode as gaseous production, merchant production, by-product production, liquid production, and captive production. Based on production, the global market is categorized as polymer electrolyte membrane, steam reforming of hydrocarbons, dissociation of hydrocarbons, water, fossil fuels, high temperature, electrolysis, alkaline, and others. Moreover, on the basis of end-user the global hydrogen generation market is divided as ammonia production, petroleum refining & recovery, methanol production, chemical processing, automotive fuels, and others.

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Global Hydrogen Generation Market: Regional Analysis

Asia Pacific is the dominating region across the world as it occupies a major share of hydrogen generation market owing to higher demand for hydrogen in ammonia manufacturing plants and petroleum refineries. In addition, this region is experiencing higher demand for petroleum products from refineries and promising economics, which in turn may boost the global hydrogen generation market. The US is expected to witness significant growth in the near future due to harsh motor vehicle emission guideline. Moreover, growth in the demand for ammonia used as feedstock for urea may influence the global market in a positive way.

Global Hydrogen Generation Market: Competitive Players

Key players in the global hydrogen generation market are Iwatani Corporation, Nuvera Fuel Cells, LLC, Caloric Anlagenbau GmbH, Airgas Inc., and Alumifuel Power Corporation. Other major players in the global market include Hydrogenics Corp., Air Products & Chemicals Inc., Linde AG, Air Liquide SA, and Praxair Inc.

Global Hydrogen Generation Market: Regional Segment Analysis: North America(US), Europe(Germany, France, UK), Asia Pacific(China, Japan, India)Latin America(Brazil, Middle East, Africa)

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