Global Hydrogen Generation Market Size 2022, Industry Overview, Trends, Segmentations & Forecast to 2030
According to ChemView Consulting’s survey, the global Hydrogen Generation market accounted for US$ 150.9 Bn in 2022 and is predicted to increase at a CAGR of 8.9% between 2022 and 2030. The market is expanding due to the increasing use of fuel cells in power generation. Furthermore, market development is likely to be fuelled by favourable government regulations aimed at reducing emissions and desulphurization of refinery activities. Considering this, ChemView Consulting has projected the global market to reach US$ 298.5 Bn in 2030.
Hydrogen Generation Market Dynamics
Driver: Extensive studies and development (R&D) to increase inexperienced hydrogen manufacturing technology
Hydrogen produced is normally utilized by petroleum refineries and fertilizer generating companies. A general of 99% of hydrogen comes from fossil gas reforming, as it’s far the maximum traditional and cost-powerful technique. But it isn’t useful for the surroundings because of CO2 emission. Green hydrogen is comprised of electrolysis. Electrolysis is the technique used to supply inexperienced hydrogen because it makes use of power to cut up water into hydrogen and oxygen and offers out 0 carbon emissions. One of the targets that numerous countries have set for 2050 is the decarbonization of the earth. The era of an detail like hydrogen, which produces inexperienced hydrogen, is one of the key elements in reaching this aim as it now bills for extra than 2% of global CO2 emissions. For instance, the European Union (EU) launched a completely unique hydrogen coverage in 2020 that mixes projects to help inexperienced hydrogen era capacities` fast boom. By 2023, Florida Power & Light plans to have a 20 MW inexperienced hydrogen plant up and running. The 1.seventy five gigawatts Okeechobee gas-fired plant owned via way of means of FP&L will make use of this hydrogen in a 20% blend.
Restraint: Energy loss in fee chain
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Hydrogen is a artificial strength carrier. It transports strength produced via way of means of numerous different processes. Water electrolysis converts electric strength into hydrogen. However, similarly to generating hydrogen, high-grade electric strength is likewise applied to compress, liquefy, transport, transfer, or keep the medium. Energy is wanted for the manufacturing of hydrogen. The strength enter need to preferably suit the strength degree of the artificial gas. Any technique of manufacturing hydrogen, together with electrolysis and reforming, includes strength transformation. The chemical strength of hydrogen is transformed from electric strength or the chemical strength of hydrocarbons. Unfortunately, strength losses are continually part of the introduction of hydrogen.
Energy loss happens throughout each step of the fee chain for hydrogen manufacturing. In the manufacturing stage, the strength wanted for electrolysis is misplaced via way of means of round 30%. An extra 10–25% of strength is misplaced throughout conversion to different forms. Energy enter is wanted to supply inexperienced hydrogen, both withinside the shape of gas for cars or strength from pipes. Utilizing hydrogen in gas cells effects in extra strength loss.
Opportunities: Rising consciousness on reaching internet 0 emission goal via way of means of 2050
Hydrogen manufacturing is going thru an extraordinary revolution beneathneath the internet 0 emissions scenario. When the worldwide output reaches 2 hundred Mt H2 in 2030, low-carbon technology will account for 70% of that manufacturing (electrolysis). By 2050, the quantity of hydrogen produced may have elevated to approximately 500 Mt H2, nearly totally because of low-carbon technology. Different technology might be had to modify the strength machine to reap internet 0 emissions via way of means of 2050. Energy efficiency, behavioral modification, electrification, renewable strength, hydrogen and hydrogen-primarily based totally fuels, and carbon, capture, utilization, and storage (CCUS) are probably to be the main pillars for decarbonizing the world`s strength machine.
In the internet 0 emissions scenario, sturdy hydrogen call for boom and the adoption of cleanser technology for its manufacturing will permit hydrogen and hydrogen-primarily based totally fuels to save you as much as 60 Gt of CO2 emissions in 2021–2050, or 6.5% of all cumulative emissions reductions. Utilizing hydrogen gas is mainly vital for reducing emissions in hard-to-decarbonize industries, along with heavy industries (mainly metallic and chemical), heavy-responsibility avenue transport, shipping,
Some of the key players present in the global Hydrogen Generation market are:
- Air Liquide
- Air Products and Chemicals
- Messer Group
- Showa Denko
- Ally Hi Tech
- NEL Hydrogen
- ITM Power
- Green Hydrogen Systems
Segments Covered in Report
- Steam Methane Reforming
- Partial Oxidation of Oil
- Coal Gasification
- Electrolysis of Water
- Petroleum Refinery
- Ammonia Production
- Methanol Production
- Power Generation
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Global Hydrogen Generation Market 2022-2030: Report Coverage and Highlights
- Assessment of the historical and current Hydrogen Generation market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
- Key drivers and restraints impacting market growth
- Predictions on Critical Supply, Demand, and Technological trends and changes in consumer behaviour
- Market Opportunity Analysis
- Value Chain Analysis (List of Manufacturers, Distributors, Average Margins, etc.)
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping, Benchmarking, and Advantage Analysis
- Market Share Analysis and Key Strategies Adopted by Top Players
- Key Product Innovations and Regulatory Climate
- Primary insights to understand what will shape the market growth over the next decade
- COVID-19 Impact on Hydrogen generation Market and How to Navigate
- Strategic Success Factors and Recommendation on Key Winning Strategies
- For More Details Visit our Report Page:
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