Hydrogen Generation Market to Be Worth $204.0 Billion by 2031 - Exclusive Report by Meticulous Research®

News provided by

Meticulous Market Research Pvt. Ltd.

Jul 24, 2024, 10:16 ET

REDDING, Calif., July 24, 2024 /PRNewswire/ -- According to a new market research report titled, 'Hydrogen Generation Market Size, Share, Forecast, & Trends Analysis by Type (Gray, Green, Blue), Process (Hydrogen Generation, Hydrogen Storage), Source (Fossil Fuels, Nuclear, Solar), Application (Ammonia Production, Petroleum Refinery, E-mobility, Power Generation)—Global Forecast to 2031,' the hydrogen generation market is projected to reach $204.0 billion by 2031, at a CAGR of 8.4% from 2024 to 2031.

Download Sample Report Now- https://www.meticulousresearch.com/download-sample-report/cp_id=5600

Hydrogen generation involves the utilization of diverse sources, including fossil fuels, water, nuclear power, solar energy, and biomass, to produce hydrogen. Various processes are employed for hydrogen generation, such as electrolysis, thermochemical reactions, biological methods, and pressure swing adsorption. The different types of hydrogen produced through these processes are color-coded to indicate the specific chemical reactions used for production. The color codes of hydrogen, i.e., gray, green, and blue, denote different production methods. Each type of hydrogen finds applications across various industries, such as e-mobility, chemical production, power generation, and manufacturing.

The growth of the hydrogen generation market is driven by the rising demand for hydrogen in the chemicals industry and increasing government initiatives to accelerate the transition to clean energy sources. However, the high capital cost of hydrogen storage restrains the growth of this market. Furthermore, the growing focus on developing green hydrogen production technologies and the increasing use of hydrogen in Fuel Cell Electric Vehicles (FCEVs) are expected to generate growth opportunities for the players operating in this market. However, the lack of secure hydrogen transport and storage infrastructure is a major challenge impacting market growth.

The hydrogen generation market is segmented by type (gray hydrogen, blue hydrogen, green hydrogen, and other types), process (hydrogen generation processes [electrolysis, thermochemical processes {steam methane reforming, auto thermal reforming, and gasification}, direct solar water splitting process, biological process, and pressure swing adsorption] and hydrogen storage processes [cylindering, portable storage, and other storage processes]), source (fossil fuels, nuclear, water, solar, biomass, and other sources), application (ammonia production, petroleum refineries, E-mobility, methanol production, district heating, power generation, manufacturing, and synfuel production), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Get a Glimpse Inside: Request Sample Pages- https://www.meticulousresearch.com/request-sample-report/cp_id=5600

Based on type, the hydrogen generation market is segmented into gray hydrogen, blue hydrogen, green hydrogen, and other types. In 2024, the gray hydrogen segment is expected to account for the largest share of around 87.0% of the hydrogen generation market. However, the green hydrogen segment is expected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing need to reduce renewable energy production costs, market players' focus on the development of electrolysis technologies, and the high demand for green hydrogen in FCEV and power generation applications.

Based on process, the hydrogen generation market is segmented into hydrogen generation processes and hydrogen storage processes. In 2024, the hydrogen generation processes segment is expected to account for the larger share of around 80.0% of the hydrogen generation market. The segment's large share is attributed to the increasing demand for hydrogen in industrial applications, the rising need to decrease greenhouse gas emissions from hydrogen generation processes, the increasing use of renewable energy sources for hydrogen production, and the growing adoption of hydrogen generation technologies for decarbonization. Moreover, this segment is also expected to register the higher CAGR during the forecast period.

Based on source, the hydrogen generation market is segmented into fossil fuels, nuclear, water, solar, biomass, and other sources. In 2024, the fossil fuels segment is expected to account for the largest share of around 60.0% of the hydrogen generation market. However, the solar segment is expected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing demand for green hydrogen in industrial applications, the growing adoption of low-cost hydrogen production methods, and the rising use of solar energy for hydrogen production to reduce greenhouse gas emissions.

Have Specific Research Needs? Request a Customized Report- https://www.meticulousresearch.com/request-customization/cp_id=5600

Based on application, the hydrogen generation market is segmented into ammonia production, petroleum refineries, E-mobility, methanol production, district heating, power generation, manufacturing, and synfuel production. In 2024, the ammonia production segment is expected to account for the largest share of over 55.0% of the hydrogen generation market. The segment's large share is attributed to the increasing demand for ammonia as a low-carbon fuel and the growing use of ammonia to decarbonize industries.

However, the E-mobility segment is expected to register the highest CAGR during the forecast period.

Based on geography, the hydrogen generation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 41.0% of the hydrogen generation market, followed by Europe, North America, Latin America, and the Middle East & Africa. The large market share of Asia-Pacific is mainly attributed to the region's growing potential to produce carbon-free hydrogen, Australia's increasing focus on generating hydrogen using carbon capture, usage, and storage technology, and China's increasing use of renewable energy, natural gas, and coal for hydrogen generation. Moreover, APAC is also expected to register the highest CAGR of over 9.2% during the forecast period.

The key players operating in the hydrogen generation market are Plug Power Inc. (U.S.), Linde GmbH (Germany), Air Products and Chemicals, Inc. (U.S.), L'AIR LIQUIDE S.A. (France), Matheson Tri-Gas, Inc. (U.S.), SOL Spa (Italy), Cummins Inc. (U.S.), Siemens Energy AG (Germany), Shell plc (U.K.), Messer SE & Co. KGaA (Germany), Ballard Power Systems Inc. (Canada), FuelCell Energy, Inc. (U.S.), Iwatani Corporation (Japan), Enapter AG (Germany), CALORIC Anlagenbau GmbH (Germany), SPG Hydrogen Co., Ltd. (South Korea), Uniper SE (Germany), and Nel ASA (Norway).

Browse In-depth Report Now- https://www.meticulousresearch.com/product/hydrogen-generation-market-5600

Scope of the Report:

Hydrogen Generation Market Assessment—by Type

Gray Hydrogen
Blue Hydrogen
Green Hydrogen
Other Types

Hydrogen Generation Market Assessment—by Process

Hydrogen Generation Processes
- Thermochemical Processes
- Electrolysis
- Biological Process
- Direct Solar Water Splitting Process
- Pressure Swing Adsorption
Hydrogen Storage Processes
- Cylindering
- Portable Storage
- Other Storage Processes

Hydrogen Generation Market Assessment—by Source

Fossil Fuels
Nuclear
Water
Solar
Biomass
Other Sources

Hydrogen Generation Market Assessment—by Application

Ammonia Production
Petroleum Refineries
Methanol Production
E-mobility
Synfuel Production
District Heating
Manufacturing
Power Generation

Hydrogen Generation Market Assessment—by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Netherlands
- Poland
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Singapore
- Australia & New Zealand
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- Rest of Middle East & Africa

Unlock Opportunities: Buy Now- https://www.meticulousresearch.com/Checkout/85905435

Related Reports:

Hydrogen Market Size, Share, Forecast, & Trends Analysis by Offering (Hydrogen Generation, Hydrogen Storage, Hydrogen Transportation), Application (Chemical Production, Automotive & Transportation, Power Generation, Industrial Manufacturing) – Global Forecast to 2031

Green Hydrogen Market by Generation Process (PEM, Alkaline, Solid Oxide), Energy Source (Wind, Hydropower), Application (Fueling, Feedstock), End User (Transportation, Chemical Production, Power Generation), and Geography – Global Forecast to 2030

Hydrogen Storage Market Size, Share, Forecast, & Trends Analysis by Storage Solution (Tanks, Cylinders), Storage Type (Physical Storage, Material-based Storage), Application (Fuel Cell, Chemical Production, Manufacturing, Oil & Gas), and Geography – Global Forecast to 2031

Blue Hydrogen Market by Generation Process (Steam Methane Reforming, Autothermal Reforming), Energy Source (Coal, Methane), Application (Fueling, Feedstock), End User (Transportation, Chemical Production), and Geography – Global Forecast to 2030

Electrolyzers Market by Type, Capacity (Less than 500 kW, 500 kW to 2 MW, More than 2 MW), Application (Mobility, Industrial Applications, Chemical Production, Other Applications), and Geography – Global Forecast to 2030

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:

Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected]
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/833/hydrogen-generation-market-2030