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Hydrogen Generation Market Demands, Trends and Business Outlook 2030

01.25.2023 · Posted in Writing and Speaking

Hydrogen Generation Industry Overview

The global hydrogen generation market size was valued at USD 129.85 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030.

The global hydrogen generation market is likely to be driven by the demand for cleaner fuel, coupled with increasing governmental regulations for the desulphurization of petroleum products. Hydrogen is an effective energy carrier, and this quality is expected to contribute significantly to its further *********** into newer markets. The global electricity demand is expected to witness an increase of nearly two-thirds of the current demand during the forecast period. Focus on the projects, related to distributed power & utility, expected to bolster demand for the hydrogen generation market growth, during the forecast period.

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

U.S. hydrogen generation market size, by technology, 2020 - 2030 (USD Billion)

The U.S. is among the early adopters of clean energy solutions in the 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. The aim of this plan was to enhance R&D and validate technologies that can be employed for setting up hydrogen infrastructure. Moreover, this plan provided deliverables that were set by the Federal government to support the development of hydrogen infrastructure in the country. The plan was developed in accordance with the National Hydrogen Energy Vision and Roadmap. Development and construction of cost-effective and energy-saving hydrogen stations across the country is among the key objectives, planned by the government agency. All these factors are expected to propel the demand for the hydrogen generation market in the U.S.

The German Ministry of Transport took an initiative in June 2012 to establish a countrywide hydrogen network and boost the hydrogen infrastructure for hydrogen refueling stations. As 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 the terms of which these industry players have given a target to construct, at least 50nos hydrogen fueling stations by 2015, in the metropolitan cities and major corridors in Germany.

Browse through Grand View Research’s Renewable Energy Industry Research Reports.

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Key Companies profiled:

Some prominent players in the global hydrogen generation market include

  • 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.

Order a free sample PDF of the Hydrogen Generation Market Intelligence Study, published by Grand View Research.

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