According to a new market research report published by Credence Research, “Hydrogen Generation Market – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global hydrogen generation market was valued at US$ 121.6 billion in 2018 and is expected to reach US$ 228.9 billion by 2027, increasing to CAGR by 7.3 per cent in the 2019-2027 forecast.
Market Insights
“Green Hydrogen Production Technology will boost the demand for Hydrogen Generation Market during the Forecast Period”
Hydrogen is an abundant component present in a compound form in the biosphere of the earth. Natural gas, oil, coal and electrolysis are the main sources of hydrogen. Almost 48 per cent of hydrogen is produced from natural gas. Currently, demand for hydrogen as an energy resource has increased significantly due to low-carbon regulation in different parts of the world, along with several benefits of hydrogen over carbon. In addition, hydrogen has a unique potential to penetrate almost all low-carbon value chain phases.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/hydrogen-generation-market
Green hydrogen production technology has boosted the use of hydrogen and, at the same time, its global demand. However, the major challenges affecting the adoption of hydrogen as a fuel cell are the competitive disadvantages against electric vehicles for light-duty vehicle applications and the high level of investment required for the distribution infrastructure.
The global hydrogen generation market is looking for tough competition over the forecast period, as several car manufacturers and other manufacturers are working with hydrogen-generating players to develop an environmentally friendly fleet over the next 5-10 years.
Industrial Developments
• On May 03, 2019, Audi AG, a leading car manufacturer, announced its collaboration with Korean automotive manufacturer Hyundai Motor Company for the development of fuel cells.
• On April 29, 2019, Robert Bosch GmbH announced to sign a partnership agreement with PowerCell Sweden AB to accelerate the production of fuel cell cars and trucks. The company has a vision of electric vehicles powered by fuel cells will be more than 20% by 2030 worldwide.
• On April 29, 2019, Robert Bosch GmbH announced to sign a partnership agreement with PowerCell Sweden AB to accelerate the production of fuel cell cars and trucks. The company has a vision of electric vehicles powered by fuel cells will be more than 20% by 2030 worldwide.
Key Market Movements:
• Globally, the hydrogen generation market projected to witness a CAGR of 7.3% during the forecast period from 2019 to 2027
• Stringent regulation in different parts of the world for carbon emission along with the empowerment of battery and fuel cell-based vehicles are the key factors driving the global hydrogen generation market
• The merchant production segment projected to grow at a rapid pace in the global hydrogen generation market. The method reduces the need for transportation and pipeline infrastructure for the distribution as it can be easily produced by natural gas and water electrolysis method.
• Steam reforming of hydrocarbons is a mature and advanced segment among other technologies. The segment expected to dominate the market by 2027. The technology growth is attributed to a large number of oil refineries and industries using steam reforming technology for hydrogen extraction from natural gas.
• In terms of revenue share, Asia Pacific dominated the global hydrogen generation market in the year 2018. The market growth is mainly due to upcoming oil & refinery projects in the region to meet the surging demand for fuel. In addition, China, India, Japan, South Korea, and other Asian countries are taking the initiative to move towards hydrogen-powered vehicles.
• Stringent regulation in different parts of the world for carbon emission along with the empowerment of battery and fuel cell-based vehicles are the key factors driving the global hydrogen generation market
• The merchant production segment projected to grow at a rapid pace in the global hydrogen generation market. The method reduces the need for transportation and pipeline infrastructure for the distribution as it can be easily produced by natural gas and water electrolysis method.
• Steam reforming of hydrocarbons is a mature and advanced segment among other technologies. The segment expected to dominate the market by 2027. The technology growth is attributed to a large number of oil refineries and industries using steam reforming technology for hydrogen extraction from natural gas.
• In terms of revenue share, Asia Pacific dominated the global hydrogen generation market in the year 2018. The market growth is mainly due to upcoming oil & refinery projects in the region to meet the surging demand for fuel. In addition, China, India, Japan, South Korea, and other Asian countries are taking the initiative to move towards hydrogen-powered vehicles.
List of Companies Covered:
- Air Liquide S.A.
- Air Products and Chemicals Inc.
- Iwatani Corporation
- Hydrogenics
- Linde Group
- Praxair Inc.
- Messer Group GmbH
- Teledyne Energy Systems Inc.
- FuelCell Energy Inc.
- Showa Denko K. K.
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/60168
Market Segmentation
By Source Segment
• Natural Gas
• Coal
• Oil
• Electrolysis
By Generation & Delivery Mode Segment
• By-product Production
• Gaseous Production
• Liquid Production
• Captive Production
• Merchant Production
By Technology Segment
• Steam reforming of hydrocarbons
• Gasification
• Electrolysis
• Partial Oxidation
• Others (Photolysis, Bio photolysis)
By Application Segment
• Chemical Processing
• Petroleum Refining & Recovery
• Automotive Fuels
• Methanol Production
• Ammonia Production
• Others (Aerospace, Electrical & Electronics, Edible fats & oils)
By Geography Segment Type
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/60168
No comments:
Post a Comment