According to a market report by Lucintel, the future of the hydrogen generation market looks promising with opportunities in the petroleum refinery, ammonia production, methanol production, transportation, and power generation applications. The global hydrogen generation market is expected to grow with a CAGR of 10% to 12% from 2023 to 2028. The major drivers for this market are increasing hydrogen consumption in fuel cell electric vehicles and strict regulation for hazardous gas emission.
Blue hydrogen, green hydrogen, and grey hydrogen are the major segments of hydrogen generation market by source. Lucintel forecasts that blue hydrogen will remain the largest segment over the forecast period because blue hydrogen is derived from natural gas through steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction creates hydrogen and carbon monoxide, and the cost of generating blue hydrogen is very low.
Within this market, ammonia production is expected to remain the largest segment due to rising government regulations in order to encourage desulphurization of fuels to conserve the environment, and ammonia’s potential as a carbon-free fuel, hydrogen carrier, and energy store represents an opportunity for renewable hydrogen technologies to be deployed at an even greater scale.
APAC will remain the fastest growing region due to the increase in fuel cell based electric vehicles in this region, hydrogen-based economy, and research activities and developments in the region targeting to reduce the cost of green hydrogen generation.
Air Liquide, Cummins, Linde, Air Products & Chemicals, Iwatani Corporation, ITM Power, NEL Hydrogen, Fuel Cell Energy, and Messer Group are the major suppliers in the global hydrogen generation market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global hydrogen generation market by source, technology, delivery mode, application, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Hydrogen Generation Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global hydrogen generation market by source, technology, delivery mode, application, and region, as follows:
Hydrogen Generation Market by Source [Value ($B) Shipment Analysis from 2017 to 2028]:
· Blue Hydrogen
· Gray Hydrogen
· Green Hydrogen
Hydrogen Generation Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:
· Steam Methane Reformin (SMR)
· Partial Oxidation (POX)
· Coal Gasification
· Electrolysis
Hydrogen Generation Market by Delivery Mode [Value ($B) Shipment Analysis from 2017 to 2028]:
· Captive
· Merchant
Hydrogen Generation Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
· Petroleum Refinery
· Ammonia Production
· Methanol Production
· Transportation
· Power Generation
Hydrogen Generation Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Hydrogen Generation Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the hydrogen generation market by source (blue hydrogen, green hydrogen, and grey hydrogen), technology (steam methane reforming (SMR), partial oxidation (POX), coal gasification, and electrolysis), delivery mode (captive, and merchant), application (petroleum refinery, ammonia production, methanol production, transportation, and power generation) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?