The global hydrogen generation market is anticipated to grow at a significant CAGR of 11.1% during the forecast period (2024-2031). An increase in demand for hydrogen to power vehicles, generate electricity and power industry drives the market for hydrogen generation globally. Shifting focus on cleaner energy and favourable government regulations are preponderance for the hydrogen generation market. The global energy crisis has fostered research and exploration in alternative sources of energy generation, as well as several sustainable conservation initiatives. According to the International Renewable Energy Agency (IRENA), in May 2021, at the end of 2021, almost 47.0% of the global hydrogen production is from natural gas, 27.0% from coal, 22.0% from oil (as a by-product) and only around 4.0% comes from electrolysis.
Into meet the growing demand for hydrogen, in December 2022, GenH2, in hydrogen infrastructure solutions, launched LS20 Mobile Liquid Hydrogen System, an end-to-end liquefication and storage system. The innovative, mobile liquefaction unit offers a space-optimized, fully integrated liquid hydrogen solution to be used in a range of applications from transportation to energy backup to accelerating the use of liquid hydrogen through pilot projects and testing.
The market player are supporting by serving every aspect of a hydrogen plant lifecycle, from the simulation at the design and engineering phases to real-time visualisation and monitoring when in operation. For instance, in November 2022, ABB launched its energy management system ABB Ability™ OPTIMAX® to the green hydrogen market, to help reduce costs of production by enabling real-time visibility of energy consumption across operations. The software measures bi-directional power flows and carbon dioxide emissions providing contextual data that operators can use to determine optimal energy consumption levels
Various technology aims to counter inefficiencies in energy, heat production and industrial processes, which together account for more than half of all global greenhouse gas emissions. For instance, in April 2022, John Wood Group PLC launched its new steam methane reforming (SMR) technology, which can achieve 95.0% CO2 emissions reduction, compared to a traditional hydrogen production plant. Company pathway to reduce these emissions and create a more sustainable future, whilst also meeting increasing demand for energy, lies in reducing the carbon intensity of hydrogen production.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Technology
- By Source
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- includes Air Liquide India, Linde plc, Air Products and Chemicals, Inc., ITM Power, Siemens Energy, and others.
Hydrogen Generation Market Report Segment
By Technology
- Steam Methane Reforming
- Coal Gasification
- Others (Auto Thermal Reforming)
By Source
- Natural Gas
- Coal
- Biomass
- Water
By Application
- Methanol production
- Ammonia Production
- Petroleum Refining
- Transportation
- Power Generation
- Others (Energy storage)
A full Report of Hydrogen Generation Market is Available @ https://www.omrglobal.com/industry-reports/hydrogen-generation-market
Hydrogen Generation Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Ballard Power Systems
- Ceres Power
- Cummins Inc.
- Enapter
- FuelCell Energy
- GinerELX
- Green Hydrogen Systems
- Heliocentris Energy Solutions AG
- ITM Power
- McPhy Energy S.A.
- Plug Power Inc.
- Proton OnSite
- Re-Fire Technology
- SGH2 Energy Global Corp.
- Siemens Energy
- Toshiba Energy Systems & Solutions Corp.
- Uniper SE
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
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