Hydrogen Generation Market Size, Trends and Insights By Source (Green Hydrogen, Blue Hydrogen, Gray Hydrogen), By Process (Methane Reforming, Coal Gasification, Electrolysis, Others), By Delivery Mode (Captive, Merchant), By Application (Chemical Processing, Transportation, Petroleum Recovery, Power Generation), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Air Liquide
- Linde plc
- Air Products and Chemicals Inc.
- Hydrogenics Corporation
- Ballard Power Systems
- Others
Reports Description
Global Hydrogen Generation Market was valued at USD 160.2 Billion in 2023 and is expected to reach USD 280.4 Billion by 2032, at a CAGR of 8.8% during the forecast period 2023 – 2032.
Hydrogen generation refers to the process of producing hydrogen gas, typically through methods such as electrolysis, steam methane reforming, or biomass gasification. This versatile and clean energy carrier is crucial for various industrial applications, fuel cells, and emerging technologies aimed at sustainable energy production and storage.
Hydrogen Generation Market – Significant Growth Factors
Demand for cleaner fuel and increasing government regulations
The hydrogen generation market experiences growth due to rising demand for cleaner fuel alternatives and stringent government regulations promoting sustainable energy solutions. Increased environmental awareness and a global shift towards reducing carbon emissions drive the adoption of hydrogen, a clean energy carrier.
Government initiatives and regulations incentivize industries to invest in hydrogen generation technologies, fostering innovation in electrolysis and other methods. As nations prioritize decarbonization, the hydrogen generation market expands, playing a pivotal role in achieving cleaner energy sources and addressing the challenges of climate change.
For instance, as per the International Renewable Energy Agency (IRENA) paper titled “Geopolitics of the Energy Transformation The Hydrogen Factor,” six nations possess significant potential to emerge as primary suppliers of green hydrogen the United States, South Korea, Japan, India, China, and the European Union.
In 2020, the Department of Energy initiated the Hydrogen Program Plan, a comprehensive strategy integrating research, development, and demonstrations.
This initiative aims to advance hydrogen utilization across various economic sectors, emphasizing transportation and storage, positioning the United States at the forefront of the evolving global hydrogen landscape.
Increasing demand for consumer electronics propels market growth
The hydrogen generation market experiences growth driven by increased demand from chemical industries. As a key feedstock, hydrogen is vital for various chemical processes, including refining and ammonia production. Rising global industrialization, coupled with a shift towards cleaner processes, intensifies the demand for hydrogen.
Technologies like steam methane reforming and electrolysis contribute to meeting this demand sustainably. As chemical industries prioritize eco-friendly practices, the hydrogen generation market expands to support their transition to cleaner energy sources, demonstrating a symbiotic relationship between industrial demand and the market’s growth.
For instance, in September 2023, according to BloomEnergy, utilizing green hydrogen in ammonia production stands out as a potential solution for achieving a cleaner chemicals industry. The solid oxide Bloom Electrolyzer™, functioning at around 700℃, presents an innovative approach, for hydrogen production, thereby contributing to a more energy-efficient and environmentally friendly process.
Hydrogen Generation Market – Restraints
High initial capital investment required for the establishment of hydrogen production facilities
The high initial capital investment for establishing hydrogen production facilities creates a significant hurdle for the hydrogen generation market. The extensive costs associated with building infrastructure, implementing advanced technologies like electrolysis or reforming systems, and ensuring safety measures deter some industries from transitioning to hydrogen-based processes.
This financial barrier impedes the rapid adoption of hydrogen as an energy carrier, limiting the development of a robust hydrogen economy. Overcoming this obstacle requires strategic investments, supportive policies, and technological advancements to make hydrogen production more cost-effective and accessible for a broader range of industries and applications.
Stringent rules for approval of Hydrogen Generation
Stringent rules for the approval of Hydrogen Generation technologies pose a challenge to the industry. Several key considerations and rules typically govern the approval process:
- Regulatory Compliance Assessment: Initial review of proposed hydrogen generation projects against existing regulations. Ensure adherence to safety standards, environmental laws, and any specific regulations governing hydrogen production.
- Environmental Impact Assessment: Conduct a thorough EIA to evaluate the potential environmental impacts of the hydrogen generation facility.
- Site Inspection and Zoning Approval: Conduct on-site inspections to verify compliance with local zoning regulations. Obtain approvals from local authorities and communities regarding the chosen site for hydrogen generation facilities.
Hydrogen Generation Market – Opportunities
Surging investment in low emission fuel create significant opportunities
The surging investment in low emission fuel acts as a catalyst for the hydrogen generation market. Increased funding supports the development of advanced technologies like electrolysis, enabling the production of green hydrogen with minimal carbon emissions.
This financial commitment fosters the establishment of hydrogen infrastructure and promotes the integration of hydrogen as a clean energy carrier in sectors such as transportation and industry. For instance, while the number of projects for low-emission hydrogen is growing globally, over 40 countries have outlined national hydrogen strategies.
However, actual installed capacity and production volumes grow, with government support. As a result, low-emissions hydrogen constitutes less than 1% of the total production and consumption of hydrogen, as per the latest Global Hydrogen Review 2023 from the International Energy Agency (IEA).
Hydrogen Generation Market – Segmentation Analysis
The hydrogen Generation market is segmented by source, process, delivery mode, application, and region. Based on the source, the market is classified into green hydrogen, blue hydrogen and grey hydrogen. Grey hydrogen dominated the market in 2022 with a market share of 55% and is expected to keep its dominance during the forecast period 2024-2032.
Grey hydrogen, produced through steam methane reforming without carbon capture, currently drives the hydrogen generation market due to its cost-effectiveness. Industries often prioritize grey hydrogen over cleaner alternatives like green or blue hydrogen because it incurs lower production costs.
However, the market is evolving towards cleaner solutions to address environmental concerns, with increased emphasis on green and blue hydrogen production methods, which involve lower carbon emissions or carbon capture technologies.
Based on process, the market is classified into steam methane reforming, coal gasification, electrolysis and others. The steam methane reforming segment dominated the market in 2022 with a market share of 60% and is expected to keep its dominance during the forecast period 2024-2032. This process involves reacting methane with steam, resulting in the production of hydrogen and carbon dioxide.
SMR is cost-effective and widely used industrially, particularly in refineries and chemical plants. As industries increasingly seek hydrogen for diverse applications, SMR efficiency and scalability contribute significantly to meeting the growing demand, positioning it as a key driver in the hydrogen generation market.
Based on delivery mode, the market is classified into captive and merchant. The captive segment dominated the market in 2022 with a market share of 80% and is expected to keep its dominance during the forecast period 2024-2032. Captive delivery mode drives the hydrogen generation market by offering dedicated on-site production for industrial applications.
This mode ensures a stable and self-sufficient hydrogen supply tailored to specific industrial needs, minimizing logistical challenges and costs associated with transportation. Industries, particularly those requiring a constant and sizable hydrogen supply, benefit from increased reliability and efficiency, fostering the adoption of on-site hydrogen generation solutions and driving the overall growth of the hydrogen generation market.
Based on application, the market is classified into chemical processing, transportation, petroleum recovery, power generation and others. The chemical processing segment dominated the market in 2022 with a market share of 55% and is expected to keep its dominance during the forecast period 2024-2032.
Chemical processing propels the hydrogen generation market by serving as a key consumer of hydrogen for various applications, such as ammonia production and refining processes. Industries rely on hydrogen as a crucial feedstock, fostering the market’s growth.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 160.2 Billion |
| Projected Market Size in 2032 | USD 280.4 Billion |
| Market Size in 2022 | USD 158.5 Billion |
| CAGR Growth Rate | 8.8% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Source, Process, Delivery Mode, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Hydrogen Generation Market – Regional Insight
By region, Hydrogen Generation market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia Pacific dominated the global hydrogen generation market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
The Asia-Pacific region plays a pivotal role in driving the hydrogen generation market. Growing emphasis on transitioning towards cleaner energy sources and hydrogen is positioned as a key element in achieving this goal.
Governments in countries like Japan, South Korea, and China are investing significantly in hydrogen infrastructure, production, and research, fostering a conducive environment for market growth. Increasing industrialization and urbanization drive the demand for hydrogen in sectors like manufacturing, transportation, and energy.
Additionally, the region’s commitment to decarbonization aligns with hydrogen’s potential as a clean energy carrier. The development of hydrogen-based technologies, such as fuel cells, further stimulates market expansion.
Government policies, incentives, and collaborations with industry players contribute to Asia-Pacific pivotal role in propelling the hydrogen generation market forward, making it a key player in the global shift toward a hydrogen economy.
Hydrogen Generation Market – Recent Developments
- In September 2022, Lindle plc announced to building 35-megawatt PEM electrolyzer to produce green hydrogen in Niagara Falls, New York. This new plant will be the largest electrolyzer installed by Linde globally and produce double green liquid hydrogen production capacity in the U.S.
- In November 2023, Air Liquide, collaborated with ENEOS Corporation, to accelerate the development of low-carbon hydrogen in Japan and contribute to the energy transition.
- In September 2022, Siemens Energy signed an agreement with Messer Group to commercialize three clean hydrogen projects with a total electrolyser capacity of 70 MW submitted to the Spanish government.
List of the prominent players in the Hydrogen Generation Market:
- Air Liquide
- Linde plc
- Air Products and Chemicals Inc.
- Hydrogenics Corporation
- Ballard Power Systems
- Plug Power Inc.
- ITM Power
- McPhy Energy
- Nel Hydrogen
- Siemens Energy
- Cummins Inc.
- Green Hydrogen Systems
- Mitsubishi Power
- Toshiba Energy Systems & Solutions Corporation
- Enapter
- Nel Hydrogen Electrolyser
- Doosan Fuel Cell
- Uniper SE
- PowerTap Hydrogen Fueling Corp.
- Hexagon Purus
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Hydrogen Generation Market is segmented as follows:
By Source
- Green Hydrogen
- Blue Hydrogen
- Gray Hydrogen
By Process
- Methane Reforming
- Coal Gasification
- Electrolysis
- Others
By Delivery Mode
- Captive
- Merchant
By Application
- Chemical Processing
- Transportation
- Petroleum Recovery
- Power Generation
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Hydrogen Generation Market, (2024 – 2033) (USD Billion)
- 2.2 Global Hydrogen Generation Market: snapshot
- Chapter 3. Global Hydrogen Generation Market – Industry Analysis
- 3.1 Hydrogen Generation Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Demand for cleaner fuel and increasing government regulations
- 3.2.2 Increasing demand for consumer electronics propels market growth
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Source
- 3.7.2 Market Attractiveness Analysis By Process
- 3.7.3 Market Attractiveness Analysis By Delivery Mode
- 3.7.4 Market Attractiveness Analysis By Application
- Chapter 4. Global Hydrogen Generation Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Hydrogen Generation Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Hydrogen Generation Market – Source Analysis
- 5.1 Global Hydrogen Generation Market Overview: By Source
- 5.1.1 Global Hydrogen Generation Market Share, By Source, 2022 and – 2033
- 5.2 Green Hydrogen
- 5.2.1 Global Hydrogen Generation Market by Green Hydrogen, 2024 – 2033 (USD Billion)
- 5.3 Blue Hydrogen
- 5.3.1 Global Hydrogen Generation Market by Blue Hydrogen, 2024 – 2033 (USD Billion)
- 5.4 Gray Hydrogen
- 5.4.1 Global Hydrogen Generation Market by Gray Hydrogen, 2024 – 2033 (USD Billion)
- 5.1 Global Hydrogen Generation Market Overview: By Source
- Chapter 6. Global Hydrogen Generation Market – Process Analysis
- 6.1 Global Hydrogen Generation Market Overview: By Process
- 6.1.1 Global Hydrogen Generation Market Share, By Process, 2022 and – 2033
- 6.2 Methane Reforming
- 6.2.1 Global Hydrogen Generation Market by Methane Reforming, 2024 – 2033 (USD Billion)
- 6.3 Coal Gasification
- 6.3.1 Global Hydrogen Generation Market by Coal Gasification, 2024 – 2033 (USD Billion)
- 6.4 Electrolysis
- 6.4.1 Global Hydrogen Generation Market by Electrolysis, 2024 – 2033 (USD Billion)
- 6.5 Others
- 6.5.1 Global Hydrogen Generation Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Hydrogen Generation Market Overview: By Process
- Chapter 7. Global Hydrogen Generation Market – Delivery Mode Analysis
- 7.1 Global Hydrogen Generation Market Overview: By Delivery Mode
- 7.1.1 Global Hydrogen Generation Market Share, By Delivery Mode, 2022 and – 2033
- 7.2 Captive
- 7.2.1 Global Hydrogen Generation Market by Captive, 2024 – 2033 (USD Billion)
- 7.3 Merchant
- 7.3.1 Global Hydrogen Generation Market by Merchant, 2024 – 2033 (USD Billion)
- 7.1 Global Hydrogen Generation Market Overview: By Delivery Mode
- Chapter 8. Global Hydrogen Generation Market – Application Analysis
- 8.1 Global Hydrogen Generation Market Overview: By Application
- 8.1.1 Global Hydrogen Generation Market Share, By Application, 2022 and – 2033
- 8.2 Chemical Processing
- 8.2.1 Global Hydrogen Generation Market by Chemical Processing, 2024 – 2033 (USD Billion)
- 8.3 Transportation
- 8.3.1 Global Hydrogen Generation Market by Transportation, 2024 – 2033 (USD Billion)
- 8.4 Petroleum Recovery
- 8.4.1 Global Hydrogen Generation Market by Petroleum Recovery, 2024 – 2033 (USD Billion)
- 8.5 Power Generation
- 8.5.1 Global Hydrogen Generation Market by Power Generation, 2024 – 2033 (USD Billion)
- 8.1 Global Hydrogen Generation Market Overview: By Application
- Chapter 9. Hydrogen Generations Market – Regional Analysis
- 9.1 Global Hydrogen Generations Market Regional Overview
- 9.2 Global Hydrogen Generations Market Share, by Region, 2022 & – 2033 (USD Billion)
- 9.3. North America
- 9.3.1 North America Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.3.1.1 North America Hydrogen Generations Market, by Country, 2024 – 2033 (USD Billion)
- 9.3.1 North America Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.4 North America Hydrogen Generations Market, by Source, 2024 – 2033
- 9.4.1 North America Hydrogen Generations Market, by Source, 2024 – 2033 (USD Billion)
- 9.5 North America Hydrogen Generations Market, by Process, 2024 – 2033
- 9.5.1 North America Hydrogen Generations Market, by Process, 2024 – 2033 (USD Billion)
- 9.6 North America Hydrogen Generations Market, by Delivery Mode, 2024 – 2033
- 9.6.1 North America Hydrogen Generations Market, by Delivery Mode, 2024 – 2033 (USD Billion)
- 9.7 North America Hydrogen Generations Market, by Application, 2024 – 2033
- 9.7.1 North America Hydrogen Generations Market, by Application, 2024 – 2033 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.8.1.1 Europe Hydrogen Generations Market, by Country, 2024 – 2033 (USD Billion)
- 9.8.1 Europe Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.9 Europe Hydrogen Generations Market, by Source, 2024 – 2033
- 9.9.1 Europe Hydrogen Generations Market, by Source, 2024 – 2033 (USD Billion)
- 9.10 Europe Hydrogen Generations Market, by Process, 2024 – 2033
- 9.10.1 Europe Hydrogen Generations Market, by Process, 2024 – 2033 (USD Billion)
- 9.11 Europe Hydrogen Generations Market, by Delivery Mode, 2024 – 2033
- 9.11.1 Europe Hydrogen Generations Market, by Delivery Mode, 2024 – 2033 (USD Billion)
- 9.12 Europe Hydrogen Generations Market, by Application, 2024 – 2033
- 9.12.1 Europe Hydrogen Generations Market, by Application, 2024 – 2033 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.13.1.1 Asia Pacific Hydrogen Generations Market, by Country, 2024 – 2033 (USD Billion)
- 9.13.1 Asia Pacific Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.14 Asia Pacific Hydrogen Generations Market, by Source, 2024 – 2033
- 9.14.1 Asia Pacific Hydrogen Generations Market, by Source, 2024 – 2033 (USD Billion)
- 9.15 Asia Pacific Hydrogen Generations Market, by Process, 2024 – 2033
- 9.15.1 Asia Pacific Hydrogen Generations Market, by Process, 2024 – 2033 (USD Billion)
- 9.16 Asia Pacific Hydrogen Generations Market, by Delivery Mode, 2024 – 2033
- 9.16.1 Asia Pacific Hydrogen Generations Market, by Delivery Mode, 2024 – 2033 (USD Billion)
- 9.17 Asia Pacific Hydrogen Generations Market, by Application, 2024 – 2033
- 9.17.1 Asia Pacific Hydrogen Generations Market, by Application, 2024 – 2033 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.18.1.1 Latin America Hydrogen Generations Market, by Country, 2024 – 2033 (USD Billion)
- 9.18.1 Latin America Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.19 Latin America Hydrogen Generations Market, by Source, 2024 – 2033
- 9.19.1 Latin America Hydrogen Generations Market, by Source, 2024 – 2033 (USD Billion)
- 9.20 Latin America Hydrogen Generations Market, by Process, 2024 – 2033
- 9.20.1 Latin America Hydrogen Generations Market, by Process, 2024 – 2033 (USD Billion)
- 9.21 Latin America Hydrogen Generations Market, by Delivery Mode, 2024 – 2033
- 9.21.1 Latin America Hydrogen Generations Market, by Delivery Mode, 2024 – 2033 (USD Billion)
- 9.22 Latin America Hydrogen Generations Market, by Application, 2024 – 2033
- 9.22.1 Latin America Hydrogen Generations Market, by Application, 2024 – 2033 (USD Billion)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Hydrogen Generations Market, by Country, 2024 – 2033 (USD Billion)
- 9.23.1 The Middle-East and Africa Hydrogen Generations Market, 2024 – 2033 (USD Billion)
- 9.24 The Middle-East and Africa Hydrogen Generations Market, by Source, 2024 – 2033
- 9.24.1 The Middle-East and Africa Hydrogen Generations Market, by Source, 2024 – 2033 (USD Billion)
- 9.25 The Middle-East and Africa Hydrogen Generations Market, by Process, 2024 – 2033
- 9.25.1 The Middle-East and Africa Hydrogen Generations Market, by Process, 2024 – 2033 (USD Billion)
- 9.26 The Middle-East and Africa Hydrogen Generations Market, by Delivery Mode, 2024 – 2033
- 9.26.1 The Middle-East and Africa Hydrogen Generations Market, by Delivery Mode, 2024 – 2033 (USD Billion)
- 9.27 The Middle-East and Africa Hydrogen Generations Market, by Application, 2024 – 2033
- 9.27.1 The Middle-East and Africa Hydrogen Generations Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 Air Liquide
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Linde plc
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 Air Products and Chemicals Inc.
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 Hydrogenics Corporation
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 Ballard Power Systems
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Plug Power Inc.
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 ITM Power
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 McPhy Energy
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 Nel Hydrogen
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 Siemens Energy
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 Cummins Inc.
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 Green Hydrogen Systems
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 Mitsubishi Power
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.14 Toshiba Energy Systems & Solutions Corporation
- 10.14.1 Overview
- 10.14.2 Financials
- 10.14.3 Product Portfolio
- 10.14.4 Business Strategy
- 10.14.5 Recent Developments
- 10.15 Enapter
- 10.15.1 Overview
- 10.15.2 Financials
- 10.15.3 Product Portfolio
- 10.15.4 Business Strategy
- 10.15.5 Recent Developments
- 10.16 Nel Hydrogen Electrolyser
- 10.16.1 Overview
- 10.16.2 Financials
- 10.16.3 Product Portfolio
- 10.16.4 Business Strategy
- 10.16.5 Recent Developments
- 10.17 Doosan Fuel Cell
- 10.17.1 Overview
- 10.17.2 Financials
- 10.17.3 Product Portfolio
- 10.17.4 Business Strategy
- 10.17.5 Recent Developments
- 10.18 Uniper SE
- 10.18.1 Overview
- 10.18.2 Financials
- 10.18.3 Product Portfolio
- 10.18.4 Business Strategy
- 10.18.5 Recent Developments
- 10.19 PowerTap Hydrogen Fueling Corp.
- 10.19.1 Overview
- 10.19.2 Financials
- 10.19.3 Product Portfolio
- 10.19.4 Business Strategy
- 10.19.5 Recent Developments
- 10.20 Hexagon Purus
- 10.20.1 Overview
- 10.20.2 Financials
- 10.20.3 Product Portfolio
- 10.20.4 Business Strategy
- 10.20.5 Recent Developments
- 10.21 Others.
- 10.21.1 Overview
- 10.21.2 Financials
- 10.21.3 Product Portfolio
- 10.21.4 Business Strategy
- 10.21.5 Recent Developments
- 10.1 Air Liquide
List Of Figures
Figures No 1 to 31
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Air Liquide
- Linde plc
- Air Products and Chemicals Inc.
- Hydrogenics Corporation
- Ballard Power Systems
- Plug Power Inc.
- ITM Power
- McPhy Energy
- Nel Hydrogen
- Siemens Energy
- Cummins Inc.
- Green Hydrogen Systems
- Mitsubishi Power
- Toshiba Energy Systems & Solutions Corporation
- Enapter
- Nel Hydrogen Electrolyser
- Doosan Fuel Cell
- Uniper SE
- PowerTap Hydrogen Fueling Corp.
- Hexagon Purus
- Others
FAQs
The restraints of the Hydrogen Generation market is high initial capital investment required for the establishment of hydrogen production facilities.
The major driver for the Hydrogen Generation market is demand for cleaner fuel and increasing government regulations and industry 4.0, and increasing demand for consumer electronics.
The “Green Hydrogen” category dominated the market in 2022.
The key players in the market are Air Liquide, Linde plc, Air Products and Chemicals Inc., Hydrogenics Corporation, Ballard Power Systems, Plug Power Inc., ITM Power, McPhy Energy, Nel Hydrogen, Siemens Energy, Cummins Inc., Green Hydrogen Systems, Mitsubishi Power, Toshiba Energy Systems & Solutions Corporation, Enapter, Nel Hydrogen Electrolyser, Doosan Fuel Cell, Uniper SE , PowerTap Hydrogen Fueling Corp., Hexagon Purus, Others.
“Asia-Pacific” had the largest share in the Hydrogen Generation Market.
The global market is projected to grow at a CAGR of 8.8% during the forecast period, 2023-2032.
The Hydrogen Generation Market size was valued at USD 160.2 Billion in 2023.