Dublin, Nov. 21, 2018 (GLOBE NEWSWIRE) -- The "Hydrogen Generation Market by Generation, Application, Technology, Storage, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The hydrogen generation market is expected to grow from USD 135.5 billion in 2018 to USD 199.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.0% from 2018 to 2023.
The hydrogen generation market is driven by various factors such as the increasing adoption of fuel cell vehicles in countries such as the US, China, and Japan and increasing demand for hydrogen in oil and gas refinery operations for producing cleaner fuels. However, rising investments in battery technology and safety concerns surrounding hydrogen operations can hinder the growth of the hydrogen generation market.
Merchant segment is expected to grow at a high CAGR during the forecast period
Merchant-based hydrogen generation is the fastest growing segment in the hydrogen generation market. The merchant-based hydrogen can be produced by water electrolysis and natural gas processes. This method of distributed hydrogen generation reduces the need for transportation of fuel and construction of new hydrogen generation infrastructure. Hence, merchant-based hydrogen generation is expected to grow at a high CAGR during the forecast period.
Steam reforming segment is expected to hold the largest market share during the forecast period
Steam reforming method of hydrogen generation, being a mature and proven technology, is expected to hold the largest market share during the forecast period. With the easy availability of raw materials such as natural gas and cost-effective operations of steam reforming technology, large refinery plants and industries rely on steam reforming for large-scale hydrogen generation operations.
Asia Pacific is expected to record the highest growth rate during the forecast period
The Asia Pacific market is expected to grow at the highest rate during the forecast period due to increasing refinery operations in countries such as China and India and the rising deployment of fuel cell vehicles in Japan and South Korea. The oil demand in Asia Pacific would grow by an average of 2% annually by 2023 with the region highly dependent on diesel and gasoline for transportation purposes.
Also, with major automotive manufacturers in the region such as Toyota and Honda investing in fuel cell electric vehicle technology and infrastructure, the demand for fuel cells is expected to peak in the coming years. The rising demand for fuel cells is expected to drive the Asia Pacific market.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitation
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Hydrogen Generation Market During the Forecast Period
4.2 Hydrogen Generation Market, By Generation Type
4.3 Hydrogen Generation Market, By State (Merchant)
4.4 Hydrogen Generation Market, By Generation Delivery Mode
4.5 Hydrogen Generation Market, By Technology
4.6 Hydrogen Generation Market, By Application
4.7 North America: Hydrogen Generation Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Emphasis on Decarbonizing Energy End-Use
5.2.1.2 Government Regulations in Desulphurization
5.2.1.3 Increasing Demand in Transportation Sector
5.2.2 Restraints
5.2.2.1 High Energy Consumption of Hydrogen Generation Technologies
5.2.2.2 Lack of Capex Spending on Hydrogen Channeling and Distribution Infrastructure
5.2.3 Opportunities
5.2.3.1 Development of Green Hydrogen Production Technologies
5.2.3.2 Growing Demand for Hydrogen in Building Heat and Power
5.2.3.3 Increasing Government Support for Hydrogen R&D
5.2.4 Challenges
5.2.4.1 Well Established Infrastructure for Electric Cars
5.2.4.2 Safety Concerns Over Hydrogen
6 Hydrogen Generation Market, By Generation & Delivery Mode
6.1 Introduction
6.2 Captive
6.2.1 On-Site Hydrogen Requirement of Large Refineries and the Ammonia Industry are Expected to Contribute to the Growth of the Market
6.3 Merchant
6.3.1 By Delivery Mode
6.3.1.1 Refineries and Petrochemical Facilities are Expected to Boost the Demand for Hydrogen
6.3.2 By State
6.3.2.1 Gaseous Hydrogen has Higher Demand Compared to Liquid Hydrogen
7 Hydrogen Generation Market, By Technology
7.1 Introduction
7.2 Steam Methane Reforming
7.2.1 Mature Technology and Energy Efficient Process are Propelling the Growth of Steam Methane Reforming
7.3 Partial Oxidation of Oil
7.3.1 Efficient and Proven Technology for Syngas Generation is Driving the Market
7.4 Coal Gasification
7.4.1 The Need to Reduce GHG Emissions From Hydrogen Generation is Propelling The Market
7.5 Electrolysis of Water
7.5.1 Increasing Fuel Cell Usage in Transportation and Power Generation Applications is Driving the Market for Electrolysis Technology
8 Hydrogen Generation Market, By Application
8.1 Introduction
8.2 Petroleum Refinery
8.2.1 North America is Projected to Be the Largest Market for Refinery Hydrogen
8.2.2 By Generation Mode
8.2.2.1 Captive Refinery Hydrogen Generation
8.2.2.2 Merchant Refinery Hydrogen Generation
8.3 Ammonia Production
8.3.1 Asia Pacific is Projected to the Largest and Fastest Growing Market
8.4 Methanol Production
8.4.1 Asia Pacific is Projected to Have the Largest Market Share
8.5 Transportation
8.5.1 Increasing Fuel Cell Vehicles in the Asia Pacific Region Make It the Largest Market
8.6 Power Generation
8.6.1 North America is Projected to Grow the Fastest With Increased Stationary and Portable Fuel Cell Installations
8.7 Other Applications
9 Hydrogen Generation Market, By Storage
9.1 Introduction
9.2 On-Board Hydrogen Storage
9.2.1 Asia Pacific is Projected to Be the Largest Market for On-Board Hydrogen Storage
9.3 Underground Hydrogen Storage
9.3.1 Europe is Projected to Be the Largest Market for Underground Storage
9.4 Power-To-Gas Hydrogen Storage
9.4.1 North America is Projected to Be the Fastest Growing Market for Power-To-Gas Storage
10 Hydrogen Generation Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.2.1 By Generation Mode
10.2.2 By Application
10.2.3 By Country
10.2.3.1 Japan
10.2.3.1.1 Increasing Hydrogen Fuel Cell-Based Vehicles and Support Infrastructure Such as Hydrogen Filling Stations are the Major Market
10.2.3.2 China
10.2.3.2.1 Increased Refinery Demand for Hydrogen and Fuel Cell Vehicles is Expected to Propel the Growth of the Hydrogen Generation Market
10.2.3.3 India
10.2.3.3.1 Increasing Dependence on Fossil Fuel and Ammonia Consumption
10.2.3.4 Australia
10.2.3.4.1 Demand for Low Emission Hydrogen Export to Other Countries is Driving the Growth of the Hydrogen Generation Market
10.2.3.5 Rest of Asia Pacific
10.2.3.5.1 Stringent Regulations for Cleaner Refinery Operations Drive the Hydrogen Generation Market
10.3 North America
10.3.1 By Generation Mode
10.3.2 By Application
10.3.3 By Country
10.3.3.1 US
10.3.3.1.1 Increasing Government Support and Growing Hydrogen Infrastructure are Expected to Drive the Market for Hydrogen Generation
10.3.3.2 Canada
10.3.3.2.1 Increasing Fuel Cell Power Generation Applications is Driving the Hydrogen Generation Market
10.3.3.3 Mexico
10.3.3.3.1 Refinery Operations are Expected to Drive the Hydrogen Generation Market
10.4 Europe
10.4.1 By Generation Mode
10.4.2 By Application
10.4.3 By Country
10.4.3.1 Russia
10.4.3.1.1 Growing Refinery Capacities and the Need for Meeting Cleaner Fuel Regulations is Driving the Market for Hydrogen Generation
10.4.3.2 Germany
10.4.3.2.1 Increasing Fuel Cell-Based Electric Vehicles and Hydrogen Generation Infrastructure Spending are Driving the Market for Hydrogen
10.4.3.3 France
10.4.3.3.1 Potential Hydrogen Fuel Cell-Based Power Generation is Expected to Drive the Market for Hydrogen Generation
10.4.3.4 UK
10.4.3.4.1 Growing Fuel Cell-Based Stationary and Portable Power Generation Applications are Expected to Increase the Demand for Hydrogen Generation
10.4.3.5 Rest of Europe
10.4.3.5.1 Petroleum Refineries are Expected to Drive the Market for Hydrogen Generation
10.5 Middle East
10.5.1 By Generation Mode
10.5.2 By Application
10.5.3 By Country
10.5.3.1 Saudi Arabia
10.5.3.1.1 Hydrogen Requirement in Refineries and Ammonia Production is Expected to Drive the Hydrogen Generation Market
10.5.3.2 Iran
10.5.3.2.1 Increasing Investments in Methanol Manufacturing are Expected to Drive the Market for Hydrogen Generation
10.5.3.3 Qatar
10.5.3.3.1 Need for Cleaner Fuel From Refineries to Drive the Hydrogen Generation Market
10.5.3.4 Rest of Middle East
10.6 Africa
10.6.1 By Generation Mode
10.6.2 By Application
10.6.3 By Country
10.6.3.1 South Africa
10.6.3.1.1 Increasing Need for Ammonia and Cleaner Hydrocarbon Fuels is Driving the Hydrogen Generation Market
10.6.3.2 Rest of Africa
10.7 South America
10.7.1 By Generation Mode
10.7.2 By Application
10.7.3 By Country
10.7.3.1 Brazil
10.7.3.1.1 Growing Ammonia Consumption and Refinery Operations are Expected to Drive the Demand for Hydrogen Generation
10.7.3.2 Argentina
10.7.3.2.1 Increasing Demand for Cleaner Fuel From Petroleum Refinery Operations Would Drive the Market for Hydrogen Generation
10.7.3.3 Rest of South America
11 Competitive Landscape
11.1 Overview
11.2 Ranking of Players and Industry Concentration, 2017
11.3 Competitive Scenario
11.3.1 Contracts & Agreements
11.3.2 Investments & Expansions
11.3.3 New Product Developments
11.3.4 Partnerships
11.3.5 Joint Ventures
11.4 Hydrogen Generation Market: Dive-Vendor Comparison
12 Company Profiles
- Air Liquide
- Air Products and Chemicals
- Ally Hi-Tech
- Ballard Power Systems
- Caloric
- Claind
- Erredue
- Fuelcell Energy
- Hydrogenics
- Hygear
- Iwatani
- Linde
- Messer Group
- Nuvera Fuel Cells
- Plug Power
- Praxair
- Proton Onsite
- Showa Denko
- Taiyo Nippon Sanso
- Teledyne Energy Systems
- Xebec
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