“The hydrogen generation market is projected to grow at a CAGR of 6.07%, by value, from 2017 to 2022.”
The hydrogen generation market is projected to reach USD 154.74 billion, by value, by 2022, growing at a CAGR of 6.07%, from 2017 to 2022. Hydrogen is widely used in the petrochemical, pharmaceutical, chemical, manufacturing, automotive, and electronic sectors. Strict regulatory norms to desulfurize petroleum products across the world and a high demand for hydrogen as a fuel are expected to drive the hydrogen generation market in the Middle East and Africa. Lack of proper distribution and transportation infrastructure and safety concerns about hydrogen can hinder the growth of the hydrogen generation market.
“The merchant segment is expected to grow at the highest CAGR from 2017 to 2022.”
Based on the mode of generation, the merchant segment is estimated to be the fastest growing market from 2017 to 2022. The majority of merchant hydrogen is produced using a process called steam methane reforming. Much of the demand for hydrogen at off-site refineries is being met with hydrogen purchased from merchant suppliers rather than by increased hydrogen production onsite at the refineries as it is more viable. All these factors are expected to drive the growth of the merchant production segment of the hydrogen generation market.
“Asia-Pacific: The largest market for hydrogen generation.”
Asia-Pacific is currently the largest market for hydrogen generation, followed by North America and Europe. Government regulations on desulfurization of oil and the demand from the fertilizer and pharmaceutical industries are driving the hydrogen generation market. India is estimated to be the fastest growing market in the region, followed by the market in Japan, during the forecast period.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 30%, Tier 2- 35%, Tier 3- 35%
By Designation: C-Level- 10%, D-Level- 30%, Others- 60%
By Region: North America- 12%, Asia-Pacific- 55%, Europe- 10%, South America-3%, Middle East- 11%, Africa- 9%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 =
The leading players in the hydrogen generation market include Air Liquide S.A. (France), Air Products and Chemicals, Inc. (U.S.), Linde AG (Germany), Praxair, Inc. (U.S.), Showa Denko K.K. (Japan), Hydrogenics Corporation (Germany), Proton Onsite (U.S.), Nuvera Fuel Cells, LLC (U.S.), and Messer Group GmbH (Germany).
The report provides a picture of the hydrogen generation market across industries and regions. It aims at estimating the market size and future growth potential of the market across different segments such as generation type, state, application, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Why buy this report?
1. The report identifies and addresses the key markets for hydrogen generation, which would help suppliers review the growth in demand
2. The report helps solution providers understand the pulse of the market and provides insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.