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Market Overview
A hydrogen generator is a device that produces hydrogen gas by various methods such as electrolysis, chemical reactions, or reforming processes. Hydrogen generators are used in a wide range of industries, including energy, electronics, chemical manufacturing, and transportation, due to the increasing interest in hydrogen as a clean and sustainable energy carrier.
During the forecast period (2023 - 2030)., the hydrogen generators market is expected to be worth USD 2.81 billion.
The growth of hydrogen's use in the oil and gas, refining, and chemical industries is anticipated to propel the global hydrogen generator market.
To power the future and implement decarbonization systems throughout the industrial world, researchers have been working on developing renewable energy sources for more than a couple of decades.
It is necessary to create hydrogen using hydrogen generators since the element hydrogen, abundant in the universe, does not exist naturally in its gaseous state. Due to its versatility as energy transporters, fuel for vehicle fuel cells, and a source of local electricity, hydrogen gas has continuously increased in demand.
Global industrial activity is continuously increasing its production of greenhouse gases, which adds to the need. The human race has begun to understand its obligation to combat the rise in global temperatures. According to a new study, to stop the rise in global temperatures, carbon emissions must reach zero worldwide by the year 2050.
Market Segment
By Process:
There are many ways to produce hydrogen gas, which can be used in industrial and chemical processes.
The following is a list of the different processes that turn fossil fuels into hydrogen gas:
- Steam reforming
- Methane pyrolysis
- Partial oxidation
- Plasma reforming
- Coal Gasification
The following is a list of the different methods used to create hydrogen without using fossil fuels:
- Water splitting
- Electrolysis
By product:
The two types of hydrogen generators, which can customize according to different uses, are:
- Generator for on-site hydrogen
- Generator for portable hydrogen
Based on use:
Although there are many uses for hydrogen gas, the following are some of the more significant ones:
- Chemical processing
- Refining
- Metal processing
- Automotives
- Agriculture
Regional Analysis
The production of hydrogen gas using the coal gasification method will cost $10 billion, according to a declaration made by Air Products at the beginning of the year 2021. Indian prime minister has announced to establish the coal gasification process and would also allocate a place for it.
The project will use coal as the source and reportedly invest roughly 20,000 crores of Indian rupees. The government chose after considering the plentiful coal supply and the requirement for producing hydrogen gas.
North America, including the United States and Canada, reported a market value of USD 300 million in 2015. This year, they started some procedures to guarantee a rise in hydrogen production. Japan and South Korea anticipate a 6% CAGR during the predicted period.
Industry News
The market for hydrogen generators market size was valued at USD 1093.61 million in 2020. the growth in the hydrogen market was projected to reach USD 1167.44 million by the end of the year due to the continued increase in demand for the creation of hydrogen gas.
A recent study shows that refineries use around 12 billion standard cubic feet of hydrogen gas daily. This perspective implies that the market size will continue to increase during the projection period.
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