Hydrogen Generation Market Size to grow by USD 49.7 billion between 2024-2028
According to a research report “ Hydrogen Generation Market” by Delivery Mode (Merchant, Captive) Application (Chemical industry, Refinery industry, Metal processing industry, Others) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 49.7 billion, at a CAGR of 5.52% during the forecast period. In the context of global food demand projected to double by 2025, intensive farming and protective cropping methods are essential to meet this increasing requirement. However, environmental fluctuations pose a challenge to agricultural systems, particularly for the nearly one billion people still experiencing persistent hunger. To enhance agricultural production, optimal fertilizer management practices are crucial. Nitrogen fertilizers, specifically ammonia-based forms like ammonium nitrate, are key components in this regard..
Browse market data tables, figures, and in-depth TOC on “Hydrogen Generation Market” by Delivery Mode (Merchant, Captive) Application (Chemical industry, Refinery industry, Metal processing industry, Others) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Delivery Mode, the Merchant segment is projected to dominate the market size in 2024
In the merchant delivery model for the hydrogen generation market, hydrogen is transported from production facilities to vendor-owned storage capacity sites at customers' facilities via tankers or containers. These storage facilities, typically leased for extended periods ranging from three to seven years, enable the distribution of hydrogen over longer distances due to its relatively low distribution costs. This delivery mode caters to customers with inconsistent demand patterns or insufficient demand volumes for captive hydrogen generation.
By Application, Chemical industry segment is expected to hold the largest market size for the year 2024
In the chemical industry, hydrogen serves as a crucial feedstock for various processes, primarily contributing to the production of methanol and ammonia. These chemicals are essential ingredients in the manufacture of methanol, polymers, and ammonia, thereby playing a pivotal role in the fertilizer sector. Ammonia, produced through hydrogen utilization, is instrumental in the production of urea-based fertilizers. Given the expanding agriculture industry and subsequent investments in the fertilizer sector, the demand for hydrogen generation is projected to surge.
APAC is forecasted to hold the largest market size by region in 2024
The Hydrogen Generation Market represents a significant business opportunity, driven by the increasing demand for clean energy solutions. Key players are investing heavily in advanced technologies to produce hydrogen more efficiently and cost-effectively. Factors such as government incentives, growing renewable energy capacity, and expanding hydrogen applications in various industries are expected to fuel market growth. Strategic collaborations and partnerships will be crucial for companies to gain a competitive edge.
The Hydrogen Generation Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Hydrogen Generation Market is witnessing significant growth due to the increasing focus on renewable hydrogen for achieving net-zero emissions and reducing carbon footprint. Traditional oil refining processes, such as reforming, hydroCracking, and hydrodesulphurization, which use crude oil as feedstock, contribute to air pollution and GHG emissions. However, technological advancements in hydrogen production from renewable sources, including electrolysis and coal gasification, are gaining popularity. Prominent companies like Air Liquide are leading the way in this transition, investing in green hydrogen policy and long-distance transport infrastructure. The industrial sector, particularly heavy industry and energy consumption, is a significant consumer of hydrogen. However, the high production cost and inflation of fossil fuels remain challenges. Renewable hydrogen production from biomass and water using electricity from renewable sources is a promising alternative. The use of hydrogen for electricity production and long-distance transport can significantly reduce carbon dioxide emissions, contributing to the global efforts to mitigate infrared radiation and greenhouse gas emissions from traditional energy sources.
Market Research Overview
Title: Hydrogen Generation Market: Hygenco Green Leads the Way in California with Renewable Hydrogen at Fresno's SoHyCal Facility The Hydrogen Generation Market is witnessing significant growth, particularly in California, where companies like Hygenco Green are spearheading the transition to net-zero emissions through the production of renewable hydrogen. The SoHyCal facility in Fresno is a prime example, utilizing electrolysis to generate hydrogen from renewable sources, powering hydrogen fuel cell vehicles and reducing carbon footprint. California's push for hydrogen stations and hydrogenpowered vehicles comes as crude oil quality declines, and refinery projects face challenges due to air pollution concerns. Traditional oil refining processes like reforming, hydroCracking, hydrodesulphurization, and coal gasification contribute to sulfur emissions and GHG emissions, increasing the carbon footprint. Technological advancements in hydrogen energy storage, industrial sector applications, and power generation are driving market growth. Prominent companies like Air Liquide are investing in hydrogen production through electrolysis, methanol production, ammonia production, and heat production. Accurate market research, including quantitative and qualitative analysis, is crucial for understanding the hydrogen generation market's trends, vendor analysis, and acquisitions. The market's growth is influenced by factors like inflation, fossil fuels, biorefinery, electricity production, carbon dioxide, and greenhouse gas emissions. In conclusion, the hydrogen generation market is poised for growth, driven by the need for clean energy, technological advancements, and government policies like Green Hydrogen Policy. The market's potential applications in long-distance transport, heavy industry, and energy consumption make it a promising sector for investment and innovation.
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