Hydrogen Generator Market - Global Industry Analysis

Hydrogen Generator Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2028

Category: Semiconductor & Electronics Report Format : PDF Report Code: ZMR-6882 Status : Upcoming

Description

Global Hydrogen Generator Market: Overview

A hydrogen generator is a device that produces hydrogen from fossil fuels and water with the help of different processes like electrolysis and steam reforming. It adopts a proton exchange membrane method to manufacture high purity hydrogen, and this technology was first adopted by NASA to generate electricity for spacecraft. These hydrogen generators are widely used for different end-user applications like petroleum recovery, refining fuel cells, and chemical processing.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Hydrogen Generator Market: Growth Factors

The global hydrogen generator market is expected to surpass $2.2 billion with a CAGR of 5.7 % during the forecast period. One of the key factors driving the growth of the global hydrogen generator market is the rising awareness among people regarding zero-emission and eco-friendly vehicles, which is significantly leading to the innovation of advanced hydrogen vehicles. Hydrogen vehicles are fueled by electricity generated from the combination of oxygen and hydrogen, referred to as fuel cells. Additionally, there is a significant growth in demand for fuel cells in the automotive sector, thereby fostering the manufacturing of enormous hydrogen generators. Chemical processing is one of the finest uses of hydrogen generators, where hydrogen is used for producing different chemical products on a mass scale. In addition, the high demand for different ammonia fertilizers is another key driver for the growth of the global hydrogen generator market. The growing population globally is also fueling the demand for raw materials and chemicals, which in turn is likely to create several lucrative growth opportunities in the global market. Hydrogen is also used to lower the sulfur content in refineries, diesel fuels and also extract some materials in which hydrogen functions as a catalyst to manufacture naphtha into superior quality octane products. Hydrogen is extracted from refining heavy oil in the partial oxidation process that lowers the pollution produced by fuels. Therefore, the growing concerns regarding greenhouse emissions and simultaneously growing demand for fossil fuel and energy are further strengthening the growth of the electrolysis process that works with the help of hydrogen generators. The development of advanced technology and the growth in electrical efficiency of these hydrogen generators is also likely to foster development in the global hydrogen generator market. The outbreak of the Covid-19 pandemic had a mixed impact on the global hydrogen generator market. On the one hand, there was a downtrend in the automotive sector, but the growing initiatives by the global leaders on lowering the greenhouse emission and growing focus on clean energy like hydrogen gas has fueled its demand in the forthcoming years.

Global Hydrogen Generator Market: Segmentation

The global hydrogen generator market can be segmented into application, capacity, process, product, type, and region.

By application, the market can be segmented into refining, petroleum recovery, fuel cells, chemical processing, and others.

By capacity, the market can be segmented into more than 1 kilowatt, 300 watts to 1 KW, and less than 300 watts.

By process, the market can be segmented into electrolysis, steam reforming, and others. The steam reforming electrolysis segment holds the largest share in the global hydrogen generator market from hydrocarbon fuels like natural gas.

By product, the market can be segmented into portable and onsite hydrogen generators. The onsite generator segment accounts for the largest share in the global hydrogen generator market due to its growing demand from refineries, gas, oil, and other sectors owing to its low emission characteristics.

Global Hydrogen Generator Market: Regional analysis

North America accounts share in the global hydrogen generator market due to the growing awareness among people regarding the adoption of clean fuel for transportation and simultaneously growing the demand from power generation plants and refueling stations.

Asia Pacific is likely to witness a significant growth rate over the forecast period due to the growing applications of hydrogen generators in refineries, along with the surge in demand for petroleum products in the region.

Global Hydrogen Generator Market: Competitive Players

Some of the significant players in the global hydrogen generator market include 2K Technologies, Ramco Industries Ltd., MLA Group of Companies, Bee Chems, Johns Manville Corporation, Weifang HongYuan Chemical Co., Ltd., HIL Limited, American Elements Corporation, Skamol A/S, and Promat International NV.

Global Hydrogen Generator Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The global hydrogen generator market is expected to surpass $2.2 billion with a CAGR of 5.7 % during the forecast period. One of the key factors driving the growth of the global hydrogen generator market is the rising awareness among people regarding zero-emission and eco-friendly vehicles, which is significantly leading to the innovation of advanced hydrogen vehicles.

Some of the significant players in the global hydrogen generator market include 2K Technologies, Ramco Industries Ltd., MLA Group of Companies, Bee Chems, Johns Manville Corporation, Weifang HongYuan Chemical Co., Ltd., HIL Limited, American Elements Corporation, Skamol A/S, and Promat International NV.

North America accounts share in the global hydrogen generator market due to the growing awareness among people regarding the adoption of clean fuel for transportation and simultaneously growing the demand from power generation plants and refueling stations.

 

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