Hydrogen Generation Market 2022
Industrial Hydrogen Market to reach cross US $ 19 Bn by 2030, After Covid-19 Crisis gets weaned off. PMR states that the industrial hydrogen market will witness a CAGR of more than 5% between 2020 and 2030.
The report on Hydrogen Generation Market provided based on the recent developments and data that has been collated from the previous year’s looks to provide a thorough understanding. The market overview provided in the initial section looks to provide the reader with adequate information regarding the product and services. It focuses on the market definition along with the product applications and end-user industries. The report covers a period spanning from 2022 to 2030. Competitive analysis and prominent industry trends have been included in the in-depth study provided in the main section of the report.
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The industrial hydrogen market is primarily driven by the ever-increasing demand for curbing the dissipation of carbon coupled with regulations by various governments regarding desulphurization on the part of refinery activities. The other factor driving the market includes growing demand for the same hydrogen in transportation.
As of now, industrial hydrogen is produced using natural gas. The steam methane reformers make use of natural gas to produce industrial hydrogen. However, it needs to be noted that pyrolysis and electrolysis are being tried out to facilitate bulk production.
Key Companies-
- Liquid air
- Air Products & Chemicals Inc.
- Praxair inc.
- The Linde group
- Messer Group GmbH
- Others.
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Key Takeaways from the Industrial Hydrogen Market
- North America leads the industrial hydrogen market due to the fact that the US is an early adopter of the clean energy solutions with respect to transportation, manufacturing, and power generation.
- The Asia-Pacific is expected to be the major revenue generator going forward due to players like Air Liquide and Praxair, Inc. looking towards economies like Indonesia, Vietnam, and the other developing regions for expansion. South Africa is also being explored.
- Steam methane reforming dominates the market in terms of technology due to higher conversion efficiency. Coal gasification technology comes second.
- Merchant-based industrial hydrogen generation holds the largest share of the market, especially due to developed countries like Canada, the US, and Russia having an integrated natural gas pipeline network for transporting and distributing industrial hydrogen.
- Electrolysis is expected to lead in the years to come due to eco-friendliness involved.
How is Industrial Hydrogen Market Structured?
The key players in the industrial hydrogen market include Air Products and Chemicals, Inox, Hydrogenics, Messer, Linde, and Air Liquide. Some of these have collaborated with the local players for rendering affable after-sales services. Organic expansion is also ongoing. For instance – Pacific Northwest National Laboratory, the Stars Corp., and Southern California Gas Co. (SoCalGas), in May 2018, did introduce a new-fangled solar-powered industrial hydrogen generation system. Herein, sunlight is used for converting natural and water into hydrogen. At the same time, carbon dioxide is captured for averting emissions of carbon.
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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