Hydrogen Generation Market - Survey Report with Detailed Analysis and Forecast to 2030

According to the latest reports, the hydrogen generating market size is anticipated to reach USD 210.85 billion by 2027, up from an estimated USD 133.56 billion in 2020, at a CAGR of 9.45 percent.

Market Analysis

The global hydrogen generation market will touch USD 210.85 billion at a 9.45% CAGR by 2027, states the latest Market Research Future report.

Major Key Players

Air Liquide (France)
Cummins (US)
Linde (Germany)
Iwatani (Japan)
ITM Power (UK)
NEL Hydrogen (Norway)
Fuel Cell Energy (US)
Messer Group (Germany)
Showa Denko (Japan)
Xebec (Canada)
Claind (Italy)
Green Hydrogen Systems (Denmark)

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COVID-19 Analysis

The COVID-19 pandemic possessed a negligible effect on the hydrogen production business. Although industry participants had to handle several issues such as interrupted supply chains, logistical difficulty to deliver finished goods, component shortages, and luring employees from quarantines. The outbreak on the contrary confirmed a solid need in the renewable energy industry.

Recent Developments

Air Liquide bought Hydrogenics in January 2019 with the intention of installing the biggest PEM electrolyzer in Canada with a capacity of 20 megawatts (MW) for the generation of low-carbon hydrogen (the facility will use hydropower). This 20 MW electrolyzer would more than double the present capacity of its hydrogen plant in Bécancour, Québec. The project is scheduled to be commercially complete by the end of 2020, with an annual production of little less than 3,000 tonnes of hydrogen.

APAC to Head Hydrogen Generation Market
The APAC region will head the hydrogen generation market over the forecast period. Adoption of green technological advances to cater to the government’s goal to reduce GHG emissions, extreme deployment of Japanese fuel cell micro-CHP products, South Korea and Japan laboriously investing in FCAs, these countries commercializing fuel cells to deliver green hydrogen on a global scale, India, Singapore, and other emerging countries demonstrating strong interest to adopt fuel cell models and introducing these to native markets, and increase in manufacturing plants and creation of various industries are adding to the global hydrogen generation market growth in the region. Besides, rapid industrialization, robust economic development in India, China, and Japan, the increasing consumption of hydrogen across different industries, rising government expenditure on building infrastructure to distribute various goods, as well as favorable government policies for attracting FDIs for fostering the industrial development are adding to the global hydrogen generation market growth in the region.

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APAC to Head Hydrogen Generation Market

The APAC region will head the hydrogen generation market over the forecast period. Adoption of green technological advances to cater to the government’s goal to reduce GHG emissions, extreme deployment of Japanese fuel cell micro-CHP products, South Korea and Japan laboriously investing in FCAs, these countries commercializing fuel cells to deliver green hydrogen on a global scale, India, Singapore, and other emerging countries demonstrating strong interest to adopt fuel cell models and introducing these to native markets, and increase in manufacturing plants and creation of various industries are adding to the global hydrogen generation market growth in the region. Besides, rapid industrialization, robust economic development in India, China, and Japan, the increasing consumption of hydrogen across different industries, rising government expenditure on building infrastructure to distribute various goods, as well as favorable government policies for attracting FDIs for fostering the industrial development are adding to the global hydrogen generation market growth in the region.

Drivers -

Growing Investments in Smart Energy-Saving Commercial and Residential Buildings to Boost Market Growth

The growing investments in smart energy-saving commercial and residential buildings will offer an impetus to the use of hydrogen for energy generation that will boost market growth. Hydrogen is a financially viable choice to investors as these comply with environmental and federal regulations sufficing to the rising need for energy.

Opportunities -

Rapidly Increasing Need for FCEVs to offer Robust Opportunities

The rapidly increasing need for FCEVs (fuel cell electric vehicles) like trucks, buses, vehicles, and other heavy-duty automobiles will offer robust opportunities for the market over the forecast period. FCEVs are installed with fuel cell devices and these operate by using hydrogen as a key fuel allowing harmful emission-free working.

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Regional Analysis -

According to the reports, the hydrogen generating industry movements are thriving in the world's five major regions: Europe, Asia Pacific, Africa, North America, and the Middle East. Asia Pacific is one of the leading hydrogen-generating markets, thanks to the adoption of green technological advances, in order to meet the government's goal of reducing GHG emissions. Due to the extreme deployment of Japanese fuel cell micro-CHP products, Japan and South Korea are laboriously investing in FCAs. They are among the first countries to commercialize fuel cells, with the goal of delivering green hydrogen on a worldwide scale. Singapore, India, and many other emerging countries are demonstrating a strong interest in adopting fuel cell models and introducing them into their native markets. Many countries, like Egypt and Dubai, are focusing on fuel cell backup power.

Segmentation Overview -

The market is segmented on the basis of generation and delivery types, storage, applications, and region. The global hydrogen generation market value is expected to witness decent growth during the forecast period.

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By Application

Based on the application, the market is segmented into power generation, transportation, ammonia production, petroleum refinery, and methanol production.

By end-users

Based on the propulsion types, the market is segmented into crystalline onboard storage, subterranean storage, and power-to-gas storage.

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Release ID: 89064147