Hydrogen Generation Market Analysis Report By Technology, By Systems, By Application And Segment Forecasts From 2020 To 2027

Synopsis

With reference to the published report, the global hydrogen generation market size was priced at USD 117.49 billion in 2019 and is estimated to witness a 4.32% CAGR during the period of the forecast.

Drivers

The requirement for green and clean fuel is estimated to observe substantial growth during the near future. Increasing stages of toxic waste, along with the government policies to restrain and regulate the content of sulfur in fuels are the factors, likely to impel the market.

The rising application of hydrogen in a variety of industries is expected to be the most important energetic factor of the market for hydrogen generation. Hydrogen is manufactured by means of many sources, such as coal, natural gas, biomass, and numerous additional non-renewable and renewable sources of energy. Natural gas is the main resource of hydrogen making at present. Steam methane reformers, by means of natural gas, are mainly utilized for manufacture. Yet, the acceptance of new techniques like pyrolysis and electrolytic production is promoted in modern times.

In the U.S. the hydrogen manufacturing companies require to increase their physical spread as well focus on the nations such as South Africa, Vietnam, and Indonesia, along with additional emerging nations to increase the revenue. The U.S. sourced companies, similar to Air Liquide and Praxair Inc., are planning to increase their business across the nations, by way of rising demand for hydrogen, as part of their tactical development policy. The market in North America has been attaining thrust for some years, at a rapid rate, by way of offerings from every purpose and technology. The use of hydrogen in ammonia manufacture and methanol creation is increasing by a superior speed within the nations.

System Insights

The method of captive generation of hydrogen is called such as on-site generation, which eliminates a number of problems, associated with the transportation and delivery of the hydrogen. So, the market is estimated to grow up significantly. For small-scale businesses, on-site generation of hydrogen has increased attractiveness due to new-fangled technology getting presented on reasonable operating costs in contrast to the transport circulated network.

In 2019, merchants appeared as the leading section, in the form of revenue. Yet, the captive systems sector is anticipated to enlarge by the maximum CAGR by means of revenue, for the period of the forecast. Socio-economically emergent states, mainly Europe and North America, have major access to this technology.

Merchant-centered hydrogen generation describes that the hydrogen is created at the main making facility and is transported and supplied to the user by means of pipelines, massive tanks, and otherwise cylinder van. In several nations like Russia, the U.S., and Canada, there is a widespread system of natural gas pipelines existing that can be utilized to transfer and hand out hydrogen. In developing nations of Asia Pacific, fresh infrastructure is getting developed, by way of a devoted pipeline and transport system potentially made available for major transportation of hydrogen in a foreign country.

Application Insights

On the basis of the application, the hydrogen generation market has been segmented into petroleum refinery, methanol production, and ammonia production. In 2019, methanol production came forward as the leading sector, by way of revenue. It is estimated to grow by the highest CAGR, for the duration of the forecast. Methanol is known as a valuable chemical product, as well as a capable element for getting additional composite chemical compounds, like methylamine, acetic acid, dim ethyl ether, methyl tertiary butyl ether, and others.

Ammonia production retained the subsequent biggest share of the market, in 2019, in the sector of application. Usually, hydrogen is generated on-site, at the ammonia plant using the feedstock of fossil fuel. A big amount of hydrogen is consumed in the ammonia production plants.

As a result of increasing rules by the government to promote the desulfurization of fuels to preserve the atmosphere, petroleum refinery held the third-largest share of the market and is estimated to observe considerable development during the period of the forecast.

Technology Insights

In 2019, by way of holding more than 67.79% share of the market, steam methane reforming appeared such as the leading section of the technology, in terms of revenue. Steam methane reforming is a technique of making hydrogen, together with the additional gases, comprising carbon dioxide and carbon monoxide. It is an established and superior technology in hydrogen generation. The rising demand, throughout the world, is an important dynamic feature for the segment, since steam methane reforming is the most reasonably priced technique for hydrogen generation. Additional factors powering the enlargement consist of operational benefits, like great conversion effectiveness, linked with the steam methane reforming procedure.

The technology of coal gasification held the subsequent biggest share of the hydrogen generation market, in 2019 and is expected to increase by the maximum CAGR, throughout the forecast period. Coal gasification, which utilizes coal in the role of raw material for the generation of hydrogen, has been in procedure for almost two centuries; furthermore, it is moreover familiar as developed technology, similar to steam methane reforming.

Regional Insights

In terms of revenue, Asia Pacific was positioned at the major place in 2019; it held a 32.39% share of the hydrogen generation market. The development is likely to go on throughout the forecast period. Strong financial accomplishment along with big-size funding for R&D activities in the nations like Australia, South Korea, China, Japan, and India is expected to power the development of the market.

Additionally, the existence of an extreme number of refineries in main countries like India and China is expected to impel the use of hydrogen generation. The governments of several nations for example Australia and Japan are assessing cleaner and greener technology; this is projected to power the enlargement of the market for hydrogen generation.

China is carrying out huge modifications in petroleum and fuel manufacturing, so as to conquer various challenges comprising financial and toxic waste disproportion between rural and city populations. The aspects like growing content of the sulfur and pollution of the air are furthermore posturing challenges to the country.

Companies

The companies have power over a large revenue share by means of worldwide and local sales. Several of these multinational companies undergo agreements with native companies to offer after-sales services at reasonable prices.

Big companies cover an extensive range of products due to their incorporated retailers and delivery network. These companies implement a variety of inorganic and organic development plans to increase their range of products as well as geographical spread.

Some of the important companies for the hydrogen generation market are Air Products and Chemicals, Hydrogenics, Linde, Inox, Messer, and Air Liquide.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels, and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insight has segmented the global hydrogen generation market report based on technology, system type, application, and region:

• Technology Outlook (Volume, Million metric tons; Revenue, USD Billion, 2016 - 2027)
    • Coal Gasification
    • Steam Methane Reforming
    • Others

• Application Outlook (Volume, Million metric tons; Revenue, USD Billion, 2016 - 2027)
    • Methanol Production
    • Ammonia Production
    • Petroleum Refining

• Systems Outlook (Volume, Million metric tons; Revenue, USD Billion, 2016 - 2027)
    • Merchant
    • Captive

• Regional Outlook (Volume, Million metric tons; Revenue, USD Billion, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • Russia
        • The U.K.
        • Spain
        • Italy
        • France
    • The Asia Pacific
        • China
        • Japan
        • South Korea
        • India
        • Australia
    • Central & South America
        • Brazil
        • Paraguay
        • Colombia
    • Middle East and Africa
        • UAE
        • South Africa
        • Egypt
        • Saudi Arabia