Global Hydrogen Generation Market to Reach US$ 270.0 Billion by 2032, Impelled by Increasing Green Energy Demand

September 02, 2022 | Energy & Mining

The latest report by IMARC Group, titled “Hydrogen Generation Market Report by Technology (Coal Gasification, Steam Methane Reforming, and Others), Application (Methanol Production, Ammonia Production, Petroleum Refinery, Transportation, Power Generation, and Others), Systems Type (Merchant, Captive), and Region 2024-2032,” finds that the global hydrogen generation market size reached US$ 163.1 Billion in 2023. Hydrogen (H) is a colorless, odorless, and tasteless gas that is highly flammable and insoluble in water. It is generated using various resources, including biomass, fossil fuels, and water electrolysis with electricity. For instance, the thermochemical procedure utilizes fossil fuels to release hydrogen, whereas other processes, such as hydrogen generators, produce hydrogen from water and fossil fuels, utilizing steam reforming and electrolysis methods. Nowadays, new methods are being introduced using algae and bacteria, which are efficient, environment-friendly and economical. As a result, there has been an escalating demand for hydrogen generation in refining petroleum, treating metals, producing fertilizers, and processing food products, and as a fuel in electric vehicles (EVs) across the globe.

Global Hydrogen Generation Market Trends:

The market is primarily driven by the surging need for green energy, which is escalating the demand for sustainable energy sources like hydrogen. In addition, with the rising awareness regarding zero-emission and eco-friendly vehicles, manufacturers are developing hydrogen vehicles powered by electricity produced by mixing hydrogen and oxygen. Moreover, various government authorities are implementing stringent regulations to lower carbon emissions in the automotive industries, which is accelerating the sales of EVs across the globe. Besides this, the increasing utilization of hydrogen as a coolant in power plant generators are positively influencing the market growth. Furthermore, hydrogen generation using nuclear energy is a cost-effective solution for reducing carbon footprint while meeting the critical global climate challenge. This has escalated the demand for hydrogen generation in fertilizer production, glass purification, and semiconductor manufacturing across the globe, thereby propelling market growth. Looking forward, IMARC Group expects the market value to reach US$ 270.0 Billion by 2032, exhibiting a CAGR of 5.6% during the forecast period (2024-2032).

Market Summary:

  • Based on technology, the market has been segmented into coal gasification, steam methane reforming, and others.
  • On the basis ofthe application, the market has been classified into ammonia production, petroleum refinery, methanol production, transportation, power generation, and others.
  • Based onthe systems type, the market has been bifurcated into merchant and captive.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being Air Liquide International S.A., Air Products Inc, CLAIND srl, INOX Air Products Ltd., Linde plc, Mahler AGS GmbH, McPhy Energy S.A., Messer Group GmbH, NEL Hydrogen, Taiyo Nippon Sanso Corporation, Weldstar Inc. and Xebec Adsorption Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Technology, Application, Systems Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Air Liquide International S.A., Air Products Inc, CLAIND srl, INOX Air Products Ltd., Linde plc, Mahler AGS GmbH, McPhy Energy S.A., Messer Group GmbH, NEL Hydrogen, Taiyo Nippon Sanso Corporation, Weldstar Inc. and Xebec Adsorption Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Hydrogen Generation Market to Reach US$ 270.0 Billion by 2032, Impelled by Increasing Green Energy Demand
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