Global Hydrogen Generation Market Report 2024: Growth Rate, Major Segments And Regions
The Hydrogen Generation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Hydrogen Generation Market:
https://www.thebusinessresearchcompany.com/report/hydrogen-generation-global-market-report
According to The Business Research Company’s Hydrogen Generation Global Market
Report 2024, The hydrogen generation market size has grown strongly in recent
years. It will grow from $141.88 billion in 2023 to $154.42 billion in 2024 at
a compound annual growth rate (CAGR) of 8.8%.
The growth in the historic period
can be attributed to industrial hydrogen demand, environmental regulations,
hydrogen as a clean fuel, natural gas reforming, government incentives and
subsidies, global energy transition, fuel cell development.
The hydrogen generation market size is expected to see strong growth in the
next few years. It will grow to $210.49 billion in 2028 at a compound annual
growth rate (CAGR) of 8.1%. The growth
in the forecast period can be attributed to hydrogen infrastructure
investments, scaling up hydrogen production, cost reduction in electrolysis,
hydrogen from biomass, green hydrogen production projects, hydrogen-powered
vehicles, hydrogen for decarbonization.. Major trends in the forecast period include
technological innovations, policy support and investments, integration with
renewable energy systems, growing interest in blue hydrogen, hydrogen as an
energy carrier, hydrogen in heavy industries.
The increasing demand for hydrogen in the industrial sector is expected to
propel the growth of the hydrogen generation market going forward. The
industrial sector refers to a sector of the economy made up of companies that
assist other companies in the production, transportation, or manufacture of
their goods. The industrial sector uses a large amount of hydrogen as it is a
component of many chemical products and is used in hydrocracking, which
produces petroleum products including gasoline and diesel. For instance, in
September 2022, according to the International Energy Agency, a France-based
autonomous intergovernmental organization, the global demand for hydrogen
increased by 5% to 94 Mt, primarily due to increased activity in the chemical
and refining industries. In addition, the historical peak of 91 Mt for hydrogen
consumption in 2019 was reached. The demand for hydrogen-based DRI,
electricity, buildings, high-temperature heat in industry, transportation, and
other new uses increased by 60% in 2021 to reach about 40 kt H2. Therefore,
increasing demand for hydrogen in the industrial sector is driving the growth
of the hydrogen generation market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=7928&type=smp
The hydrogen generation market covered in this report is segmented –
1) By Type: On-Site, Portable
2) By Source:
Blue Hydrogen, Gray Hydrogen, Green Hydrogen
3) By Generation
And Delivery Mode: Captive, Merchant
4) By
Technologies: Steam Methane Reforming, Coal Gasification, Electrolysis, Partial
Oxidation
5) By
Application: Methanol Production, Ammonia Production, Petroleum Refining,
Transportation, Power Generation, Other Applications
The development
of green hydrogen production technologies is a key trend gaining popularity in
the hydrogen generation market. Major companies operating in the hydrogen
generation market are developing technologies to sustain their position in the
market. For instance, in March 2022, Honeywell International, a US-based
technology company, developed a new catalyst-coated membrane (CCM) technology
for green hydrogen production. The Proton Exchange Membrane (PEM) and Anion
Exchange Membrane (AEM) CCMs are the focus of the new Honeywell technology. The
unique features of Honeywell's most recent CCMs demonstrated the ability to
increase electrolyzer efficiency and electric current density and a
groundbreaking, unique membrane with strong ionic conductivity and high
activity. The cost of the electrolyzer stack is expected to decrease by 25% as
a result.
The hydrogen
generation market report table of contents includes:
1. Executive Summary
2. Market
Characteristics
3. Market Trends
And Strategies
4. Impact Of
COVID-19
5. Market Size
And Growth
6. Segmentation
7. Regional And
Country Analysis
.
.
.
27. Competitive
Landscape And Company Profiles
28. Key Mergers
And Acquisitions
29. Future
Outlook and Potential Analysis
Contact Us:
The Business
Research Company
Europe: +44 207
1930 708
Asia: +91 88972
63534
Americas: +1 315
623 0293
Email:
info@tbrc.info
Follow Us On:
LinkedIn:
https://in.linkedin.com/company/the-business-research-company
Twitter:
https://twitter.com/tbrc_info
Facebook:
https://www.facebook.com/TheBusinessResearchCompany
YouTube:
https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog:
https://blog.tbrc.info/
Healthcare Blog:
https://healthcareresearchreports.com/
Comments
Post a Comment