“U.S. is expected to be the largest market during the forecast period”
Geographically, U.S. hydrogen generation industry collected revenue of USD 15 billion in 2015 and is projected to grow significantly over the coming years, driven by the strict vehicle emission norms. Saudi Arabia hydrogen generation market size will grow at a rate of 5% over 2016-2024. The increasing demand for fertilizers will effectively influence the industry growth.
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Growth drivers of Hydrogen Generation Market:
- Increasing demand for clean fuel energy
- Stringent government regulation towards Desulphurization of Petroleum Products
- Deteriorating crude oil quality
Global Hydrogen Generation Industry Trends
Global Hydrogen Generation Market is expected to grow at over 5% CAGR to surpass USD 186 billion by 2024. Increasing residual processing demand along with stringent specification for cleaner fuel will stimulate the industry growth.
Growing investment towards the expansion and upgradation of refinery to meet the sulfur emission regulations will stimulate the hydrogen generation market share. In 2017, Exxon Mobil announced to invest USD 20 billion to expansion of refining and chemical plants on the U.S. gulf coast by 2020. Increasing petroleum product consumption demand will further complement the business growth. In 2017, the gasoline demand increased from 210,000 bpd to 9,312,000 bpd.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Nuvera Fuel Cells
- Messer Group
- Taiyo Nippon Sanso Corporation
- Showa Denko
- Caloric Anlagenbau
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An insight into Asia Pacific hydrogen generation Industry
Asia Pacific hydrogen generation market is projected to display an annual growth rate of 5% over the period of 2016 to 2024, owing to the growing demand for petroleum products. India and China will be the major revenue pockets for the APAC market share. Europe hydrogen generation industry is anticipated to exhibit lucrative growth rate over the coming years. The growth can be attributed to the surging requirement for chemicals in construction as well as food & beverage industry. Germany will contribute significantly towards the regional growth by contributing a revenue of USD 5 billion by 2024.
Key market players in the Hydrogen Generation Market
Companies operating in the hydrogen generation industry include Nuvera Fuel Cells, Messer Group, Taiyo Nippon Sanso Corporation, Showa Denko, Caloric Anlagenbau, Xebec Adsorption, Iwatani Corporation, Praxair Technology, Hydrogenics, Linde, Air Liquide, and Air Products and Chemicals.
Hydrogen Generation Market Segmentations:-
Chapter 4 Hydrogen Generation Delivery mode Insights
4.1 Hydrogen generation market share by delivery mode, 2015 & 2024
4.2.1 Global hydrogen generation market estimates and forecast from captive, 2013 – 2024
4.2.2 Global hydrogen generation market revenue from captive, by region, 2013 – 2024
4.3.1 Global hydrogen generation market estimates and forecast from merchant, 2013 – 2024
4.3.2 Global hydrogen generation market revenue from merchant, by region, 2013 – 2024
Chapter 5 Hydrogen Generation Process Insights
5.1 Hydrogen generation market share by process, 2015 & 2024
5.2 Steam Reformer
5.2.1 Global hydrogen generation market estimates and forecast from steam reformer, 2013 – 2024
5.2.2 Global hydrogen generation market revenue from steam reformer, by region, 2013 – 2024
5.3.1 Global hydrogen generation market estimates and forecast from electrolysis, 2013 – 2024
5.3.2 Global hydrogen generation market revenue from electrolysis, by region, 2013 – 2024
5.4.1 Global hydrogen generation market estimates and forecast from others, 2013 – 2024
5.4.2 Global hydrogen generation market revenue from others, by region, 2013 – 2024
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