Hydrogen Generation Market

The global hydrogen generation market has been estimated at USD 130 billion in 2021 and is expected to grow at a CAGR of 9% between 2022 and 2032.

Hydrogen is the simplest element to be produced. It needs to get separated from its allied compounds. Its generation is carried out through diverse methodologies. Commonly used methods for producing hydrogen are steam-methane reforming and electrolysis which is dividing water molecules with electricity.

The use of hydrogen has been an escape to reduce harmful emissions. Sectors like transportation integrated clean energy systems and enabled zero-emission in chemical and industrial procedures, steel manufacturing units, ports, and data centers. Hydrogen generation markets are replacing the traditional fuel market with excellent projection globally.

Market Trends

COVID-19 outbreak has impacted the hydrogen generation market across the major regions of the research. Countries like China, the US, the UK, Italy, and scores of others have severely impacted hydrogen generation. Demands for household electricity increased during the quarantine period, which negatively affected industrial electricity consumption.

The partial shutdown of industries reduced electricity consumption significantly due to affected economies globally. Governments internationally were compelled to minimize the business production.

Factors impacting the growth of the hydrogen generation market

COVID-19 outbreak is the primary reason for the global decline in the market growth of hydrogen generation.

Increasing greenhouse emissions, primarily due to more production of fossil fuels used in industries. Gasses like carbon dioxide (CO2), nitrous oxide, and methane are predominantly responsible for increasing atmospheric temperatures. Multiple studies prove the US accounts for 25% of emissions and a temperature rise.

There is a quantifiable amount of sulfur levels found in fuel, directly or indirectly accountable for the emission of greenhouse gasses and rise in temperature. Sulfur accelerates the emission amount of methane and carbon dioxide into the atmosphere.

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Countries like the UK, North America, China, and Japan have shifted from traditional fuels to hydrogen generation technology.

Key market players

The major market players in the hydrogen generation market include Linde, Air Liquide, Air Products and Chemicals, Uniper, and Engie.

Segmentation of the market

By Applications

• Petroleum Refinery
• Ammonia Generation
• Methanol Generation
• Others

By Technology

• SMR
• POX
• Electrolysis
• Others

By Geography

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • India
  • China
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• South America
  • Brazil
  • Rest of South America