Research Expert: Sarah Overall
  • Published: Mar 2025
  • Pages: 150
  • SKU: IRTNTR43099

  • Latest News- Hydrogen Generation Market: Merchant is expected to lead the Delivery Mode segment during 2024-2028

    The Hydrogen Generation Market is being driven by Growing demand for fertilizers

    The Hydrogen Generation Market is expected to grow at a CAGR of 5.52% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 49.7 billion. The cost reduction in fuel cell technology, primarily driven by decreased platinum loading on anodes, larger bipolar plate formation and welding costs, and modified gas diffusion layers, as reported by Original Equipment Manufacturers (OEMs), is leading to a significant decline in production costs of fuel cell systems. This cost reduction is anticipated to increase the adoption of fuel cells across various sectors, subsequently driving the demand for hydrogen gas and propelling the growth of the global hydrogen generation market. 

    Get more information on Hydrogen Generation Market by requesting a sample report

    Which Factors Are Causing a Surge in Market Growth?

    The market is segmented based on

    • Delivery Mode
      • Merchant
      • Captive
    • Application
      • Chemical industry
      • Refinery industry
      • Metal processing industry
      • Others
    • Geography
      • APAC
        • China
        • Japan
      • Europe
        • Germany
        • France
      • North America
        • US
      • Middle East and Africa
        • South America

        According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

        • Growing demand for fertilizers
        • Growth in global refining capacity
        • Growing metal processing industry

        However, the market also witnesses some limitations, which are as follows:

        • Changes in government policies and regulations
        • Competition from alternative technologies
        • Lack of refueling infrastructure for FCVs

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        Market Scope in Hydrogen Generation Market Research Report

        Market Scope

        Report Coverage

        Details

        Page number

        179

        Base year

        2023

        Historic period

        2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 5.52%

        Market growth 2024-2028

        USD 49.7 billion

        Market structure

        market_structure.ucfirst

        YoY growth 2023-2024(%)

        5.21

        Key countries

        China, US, Japan, Germany, and France

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

        Request Free Sample

        Find out which segment is leading the market by accessing the free PDF report

        Research Analysis Overview

        The Hydrogen Generation Market is experiencing significant growth due to increasing focus on reducing Greenhouse Gas (GHG) emissions, particularly from sectors like heavy industry, long-distance transport, and electricity production. Traditional sources like fossil fuels contribute substantial energy consumption and GHG emissions, leading to air pollution. However, the shift towards renewable sources like solar and wind for hydrogen production is gaining momentum. Key players like Air Liquide are investing in green hydrogen policies and technological advancements, such as coal gasification and hydro desulphurization, to reduce the carbon footprint of hydrogen production. Prominent companies are also exploring hydrogen energy storage and renewable hydrogen for netzero emissions in refinery projects. The quality of crude oil and carbon footprint are crucial factors influencing the shift towards green hydrogen. Infrared radiation from the sun is harnessed to produce hydrogen from water, reducing the reliance on carbon-intensive fossil fuels like crude oil in industries and oil refineries.

        Market Research Overview

        The global industrial gases market, encompassing sectors such as basic chemicals, specialty chemicals, petrochemicals, industrial gases, and polymers, is driven by the expanding oil and gas industry. This sector is a significant consumer of industrial gases, with hydrogen being a key player due to its role in oil and gas extraction and refining processes. The rapid growth of the oil and gas and petrochemical industries, fueled by increasing global population and energy demand, is set to propel market expansion. Technavio's market analysis calculates the market size based on the combined revenue generated by industrial gas manufacturers, including hydrogen, oxygen, nitrogen, carbon dioxide, acetylene, helium, and others. The increasing reliance on industrial gases for energy production, particularly in heavy industry and long-distance transport, further bolsters market growth. Despite the environmental concerns surrounding carbon dioxide emissions from fossil fuel consumption, the demand for industrial gases remains robust due to their essential role in various industries. Infrared radiation and greenhouse gas emissions are by-products of industrial processes, necessitating continuous research and development efforts to minimize their environmental impact.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


        Contacts

        Technavio Research
        Jesse Maida
        Media & Marketing Executive
        US: +1 844 364 1100
        UK: +44 203 893 3200
        Email: media@technavio.com
        Website: www.technavio.com/

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