Dublin, Aug. 31, 2022 (GLOBE NEWSWIRE) -- The "Global Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production, Transportation, Power Generation), Generation & Delivery Mode (Captive, Merchant), Source (Blue, Green & Grey Hydrogen), Technology, and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
Hydrogen has long been recognized as a possible low-carbon transportation fuel. The market has a promising growth potential due to several factors, including the role of hydrogen generation playing in carbon emission reduction and Increase in fuel cell based electric vehicles and hydrogen based economy are driving the hydrogen generation market. The global hydrogen generation market is projected to reach USD 263.5 Billion by 2027 from an estimated market size of USD 160.0 Billion in 2022, at a CAGR of 10.5% during the forecast period.
Electrolysis : The fastest growing segment of hydrogen generation market, by technology
Electrolysis might be a promising technique for hydrogen production in the future. The simplest electrolysis method transforms water into hydrogen and oxygen by placing two electrodes in it and running an electrical current through them. Other than hydrogen and oxygen, electrolysis does not emit or produce any by-products
Gray hydrogen: The fastest growing segment of hydrogen generation market, by source
Today, gray hydrogen makes up most of the hydrogen produced. Natural gas is reformatted to create grey hydrogen, which is utilized to reorganize the molecular structure of hydrocarbons. The cost of producing grey hydrogen is lower than both blue hydrogenlue and green hydrogen. Gray hydrogen covers most of the market comparing to blue and green hydrogen.
The petroleum refinery segment is expected to be the most significant hydrogen generation market, by application
The hydrogen generation market, by application, is segmented into Refinery, Ammonia Production, Methanol Production, Transportation, Power Generation. The petroleum refinery segment accounted for the largest share of 50.8% of the hydrogen generation market in 2021. The rising applications of hydrogen in oil refineries to foster demand for hydrogen is expected to drive the petroleum refineries segment during the forecast period.
Asia Pacific: The fastest-growing region in the hydrogen energy storage market
The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The growth of the Asia Pacific hydrogen generation market is expected to be driven by Increase in fuel cell based electric vehicles and hydrogen based economy.
Market Dynamics
Drivers
- Increasing Regulations Related to Desulphurization and Greenhouse Gas Emissions
- Increasing Research and Development (R&D) Related to Green Hydrogen Production Technologies
- Growing Use of Hydrogen in Fuel Cell Electric Vehicles
Restraints
- Energy Loss During Hydrogen Production
Opportunities
- Increasing Government Focus on Developing Hydrogen-Based Economies
- Rising Focus of Governments on Achieving Net Zero Emission Targets by 2050
Challenges
- Integration of Hydrogen into Natural Gas Networks
- High Green Hydrogen Production Cost
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Hydrogen Generation Market, by Technology
7 Hydrogen Generation Market, by Source
8 Hydrogen Generation Market, by Generation and Delivery Mode
9 Hydrogen Generation Market, by Application
10 Hydrogen Generation Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- Air Liquide
- Air Products Inc.
- Ally Hi-Tech Co. Ltd.
- Aquahydrex
- Atawey
- Cummins Inc.
- Electrochaea
- Enapter S.R.L.
- Engie
- Exytron
- Green Hydrogen
- Hiringa Energy
- Iberdrola S.A.
- Itm Power
- Iwatani Corporation
- Linde plc
- Mcphy
- Messer
- Nel Asa
- Orsted A/S
- Plug Power Inc.
- Siemens
- Starfire Energy
- Thyssenkrupp Ag
- Uniper Se
- Xebec Adsorption Inc.
For more information about this report visit https://www.researchandmarkets.com/r/3fbdv3
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