Hydrogen Generation Market – Overview
The global hydrogen generation market is expected to grow at 7.80% CAGR during the forecast period. Global hydrogen generation market is expected to witness substantial growth during the forecast period owing to increasing adoption of hydrogen and awareness toward importance of energy conservation are expected to boost the global market for hydrogen generation. Rising efforts to shift focus from fossil fuels to renewable fuels is expected to further propel the hydrogen generation market expansion. Countries around the globe are introducing stringent norms to reduce the use of unconventional fuels which leads to excessive greenhouse gas emissions.
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Hydrogen Generation Market Segment Analysis:
Global hydrogen generation market has been segmented based on generation & delivery type, storage, application, and region. The global hydrogen generation market is further segmented based on generation and delivery type, including captive and merchant. Captive hydrogen is estimated to grow at a faster rate as it eliminates numerous problems linked to conveyance and distribution of hydrogen. Based on application, the market is classified into petroleum refinery, ammonia production, methanol production, transportation, power generation, and others. The transportation segment is expected to be the fastest growing application segment due to the growing demand for fuel cell based electric vehicles and buses especially in Asia Pacific and North America regions.
The key players of the global hydrogen generation market Praxair, Inc. (US), Air Liquide S.A. (France), Air Products and Chemicals, Inc. (US), Hydrogenics (Canada), Iwatani (Japan), Messer Group (Germany), Plug Power (US), Linde (US), Showa Denko (Japan), Ballard Power systems (Canada), and Fuelcell Energy (US), among others.
Asia Pacific accounts for the largest market share for hydrogen generation market
Region wise, Asia Pacific held the largest market share of the global hydrogen generation market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to growing demand to decarbonize energy use and increased demand for hydrogen to be used in fuel cell technology for electric vehicles. Demand for electric vehicles and efficient fuel technology in the countries such as China, Japan is expected to increase the growth of hydrogen generation to install efficient hydrogen fuel cell stations. For instance, in 2018, the Chinese government has established a 2 million new electric vehicle target which includes hydrogen fuel powered vehicles by 2020. This would boost the demand for hydrogen generation in the coming years.
Table of Contents
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
3. Research Methodology
3.1. Primary Research
3.2. Secondary Research
3.3. Market Size Estimation
3.4. Forecast Model
3.5. List of Assumptions
4. Market Dynamics
4.1.1. Increasing Demand in Transportation Sector
4.1.2. Shifting Trends Towards Cleaner Energy
4.1.3. Growing Demand to Decarbonize Energy End-Use
4.2.1. High Energy Consumption of Hydrogen Generation Technologies
4.2.2. High Cost Associated
4.3.1. Increasing Government Support for Hydrogen R&D
4.3.2. Development of Green Hydrogen Production Technologies
4.4. Porter’s Five Forces Analysis
4.4.1. Threat of New Entrants
4.4.2. Bargaining Power of Buyers
4.4.3. Bargaining Power of Suppliers
4.4.4. Threat of Substitutes
4.4.5. Intensity of Rivalry
4.5. Value Chain/Supply Chain Analysis
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