The global hydrogen generation market size was estimated at USD 170.14 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2024 to 2030.

Demand for cleaner fuel and increasing government regulations for desulphurization of petroleum products. Hydrogen is an effective energy carrier, and this attribute is expected to contribute significantly to its further penetration into newer markets. Global electricity demand is anticipated to witness an increase of nearly two-thirds of current demand over the forecast period. Focus on projects related to distributed power & utility is anticipated to bolster industry’s growth.

Gather more insights about the market drivers, restrains and growth of the Hydrogen Generation Market

U.S. is among the early adopters of clean energy solutions in world for sectors such as power generation, manufacturing, and transportation. The U.S. Department of Energy (DOE) and Department of Transportation (DOT) introduced a Hydrogen Posture Plan in December 2006. This plan was aimed at enhancing research and development (R&D) and validating technologies that can be employed for setting up hydrogen infrastructure.

This plan provided deliverables set by the Federal government to support development of hydrogen infrastructure in the country. It was developed following the National Hydrogen Energy Vision and Roadmap. Development and construction of cost-effective and energy-saving hydrogen stations across the country are among key objectives planned by government agencies. All these factors are expected to propel hydrogen generation demand in the U.S.

German Ministry of Transport took an initiative in June 2012 to establish a countrywide hydrogen network and boost hydrogen infrastructure for hydrogen refueling stations. As a part of this initiative, the ministry signed a letter of intent (LoI) with industry players such as Total; The Linde Group; Air Products and Chemicals, Inc.; Daimler AG; and Air Liquide. Under its terms, these industry players were given a target to construct at least 50 hydrogen fueling stations by 2015 in metropolitan cities and major corridors in Germany.

Hydrogen Generation Market Segmentation

Grand View Research has segmented the global hydrogen generation market report based on technology, application, system, source, and region:

Technology Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Steam Methane Reforming

• Coal Gasification

• Others

Application Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Methanol production

• Ammonia Production

• Petroleum Refining

• Transportation

• Power Generation

• Others

System Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Captive

• Merchant

Source Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Natural Gas

• Coal

• Biomass

• Water

Regional Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o Russia

o UK

o France

o Spain

o Italy

• Asia Pacific

o China

o India

o Japan

o South Korea

o Australia

• Central & South America

o Brazil

o Colombia

o Paraguay

• Middle East & Africa

o Saudi Arabia

o U.A.E

o South Africa

o Egypt

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Key Companies & Market Share Insights

Hydrogen generation industry is competitive with key participants involved in R&D and constant innovation done by vendors has become one of the most important factors for companies to perform in this industry. For instance, Matheson Tri-Gas, Inc. acquired Linde HyCO business that produces hydrogen, carbon monoxide, or syngas. This acquisition is expected to promote expansion of company’s capabilities and serve petrochemical and refining industries.

Air Liquide announced that it will manufacture and market renewable liquid hydrogen to the U.S. West Coast mobility market. This large-scale project is expected to produce 30 tons of liquid hydrogen per day using biogas technology.

Key Hydrogen Generation Companies:

• Air Liquide International S.A

• Air Products and Chemicals, Inc

• Hydrogenics Corporation

• INOX Air Products Ltd.

• Iwatani Corporation

• Linde Plc

• Matheson Tri-Gas, Inc.

• Messer

• SOL Group

• Tokyo Gas Chemicals Co., Ltd.

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