Hydrogen Generation Market by Process, Technology, Source, Storage, Application

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[183 Pages Report] The Hydrogen Generation Market size was estimated at USD 323.69 billion in 2023 and expected to reach USD 358.57 billion in 2024, at a CAGR 11.34% to reach USD 686.80 billion by 2030.

Hydrogen generation is a technique and methodology designed specifically to produce or generate a hydrogen gas. Hydrogen is a highly sustainable element with diverse application areas, including chemical, petroleum refining, metal processing, automotive, and transportation industries. Meanwhile, government initiatives around generating cleaner, more sustainable hydrogen present great potential for expanding hydrogen generation technologies. In addition, the rising need for sustainable fuel across several industry verticals has significantly boosted the growth of hydrogen generation. However, the concerns associated with the high capital expenditure in hydrogen production and its safety issues are significant challenges for the key players and end users. To address these challenges, companies focus on cutting costs and continuously invest in research and development activities. Companies are also working towards compliance with safety regulations imposed by various regulatory bodies to remain agile within the sectors. Moreover, the increasing investments in hydrogen generation by several international and regional entities have contributed to the future expansion of hydrogen generation. Companies are aggressively generating sustainable hydrogen through this investment to meet varied industry needs.

KEY MARKET STATISTICS
Base Year [2023]	USD 323.69 billion
Estimated Year [2024]	USD 358.57 billion
Forecast Year [2030]	USD 686.80 billion
CAGR (%)	11.34%

Process: Increasing adoption of electrolytic and biological processes in the production of renewable energy sources

Hydrogen generation emerges as a potential alternative to achieve sustainable energy goals by providing unique feasibility and efficiency benchmarks. One such process is biological hydrogen production processes, which hold great promise due to their minimal environmental impact and potential use of waste matter. Biohydrogen production is obtained through dark fermentation, microbial electrolysis, and photosynthesis. In addition, direct solar water splitting processes, or photocatalytic water splitting, capitalize on solar energy to induce water fission into hydrogen and oxygen. Renewable solar energy makes this an attractive method for hydrogen generation. Moreover, electrolytic processes involve splitting water into hydrogen and oxygen using an electric current. This method's efficiency depends highly on the electricity source; thus, integrating electrolysis with renewable energy sources ensures sustainable hydrogen production. While in thermochemical processes, heat and a series of chemical reactions are used to produce hydrogen. This process can use high-temperature heat from nuclear energy and concentrated solar power. Each process in hydrogen generation holds significant value and meets the specific needs of several industry applications.

Technology: Utilization of gasification and pyrolysis technology in the zero-carbon hydrogen production

Gasification is a technology that converts organic and fossil-based materials into carbon monoxide, hydrogen, and carbon dioxide. It is a robust method for hydrogen production, especially dealing with solid fuels such as coal and biomass. On the other hand, pyrolysis involves the thermal decomposition of materials without oxygen. It is an innovative approach to producing hydrogen with a zero-carbon footprint, which makes it a sustainable solution for a greener future. In addition, reforming technologies, including autothermal, partial oxidation, and steam reforming, involve the conversion of methane and hydrocarbons in natural gas into hydrogen. Steam methane reforming (SMR) and auto-thermal reforming (ATR) are two widely used processes in hydrogen generation.

Storage: Widening use of on-board and P2G hydrogen storage in transportation and power generation applications

On-board hydrogen storage solutions primarily find utility in electric vehicle applications where hydrogen is stored and used as fuel. Onboard hydrogen storage is primarily derived from the growing push for zero-emission vehicles and the requirement for high energy-density fuels that provide a longer driving range. At the same time, power-to-gas (P2G) hydrogen storage is a technology that converts electrical power into gaseous energy carriers. P2G hydrogen storage is preferential in areas with a heavy reliance on renewable energy sources and excess power generation from intermittent sources such as wind or solar. On the other hand, underground hydrogen storage stores hydrogen in underground formations such as salt caverns, aquifers, and depleted gas reservoirs. This storage solution is typically preferred when a large quantity of hydrogen needs to be stored with minimal risk of leakage. Such conditions are common in areas with significant hydrogen production facilities. While the onboard hydrogen storage serves as fuel cell vehicles, offering a compact and safe storage solution with higher energy density. On the other hand, power-to-gas storage caters to the broader electrical grid, balancing the supply and demand of power, especially in areas employing renewable energy sources.

Application: Extensive applications of hydrogen generation in varied industry sectors

In the progressive field of hydrogen generation, varied sectors rely on and contribute towards its evolution. The ammonia production industry profoundly relies on hydrogen for the Haber process, a critical method for ammonia synthesis. At the same time, hydrogen is the lifeline for the methanol production sector, involving the catalytic combination of hydrogen and carbon monoxide. In addition, within petroleum refineries, hydrogen finds extensive use in hydrocracking and desulfurization processes. Notable examples, such as Exxon Mobil, have adopted hydrogen generation practices in the process of petroleum refining in their manufacturing plants. Furthermore, power generation represents an emergent application of hydrogen, especially in fuel cells used in electricity generation. While, the compatibility of hydrogen in power generation and transportation is contingent on the fuel cell's efficiency. In the transportation industry, hydrogen is used as a sustainable fuel, significantly contributing to the zero-carbon emission.

Regional Insights

In the Americas, the United States and Canada are progressive countries in the quest for next-generation fuel sources such as hydrogen. The adoption of hydrogen generation technology in these areas is driven by increasing climate awareness, technological progress, and formidable government support, which activates consumer needs and purchasing behavior. Several entities also show considerable interest in backing hydrogen fuel projects through investments, offering immense opportunities for hydrogen generation growth within this region. On the other hand, European countries and the Middle East region present a mixed market with diverse factors influencing hydrogen generation. With its commitment to green energy, the European region encourages the adoption of hydrogen as a sustainable fuel source. Extraordinary research initiatives spearhead hydrogen energy, as seen in the breakthrough hydrogen generation process recently patented in Germany. Furthermore, the expanding automotive industry within the European region also contributes to expanding the hydrogen generation landscape. The hydrogen generation within the African region presents significant potential, owing to the continent's increasing focus on sustainable and green energy. The dynamics of the hydrogen generation landscape in Africa are gradually taking shape with the acceleration towards clean energy resources and the reduction of carbon emissions. Furthermore, the Asia Pacific region is characterized by increased hydrogen generation installations. The numerous research initiatives and investments illustrate the region's keen interest in embracing alternative fuel sources. For instance, Tokyo's 2020 goal to become a 'Hydrogen Society' demonstrates a commitment to advancing hydrogen energy through several government-supported initiatives, such as Japan's ENE-FARM project. In addition, emerging economies such as China and India provide promising avenues through their several government initiatives in support of sustainable energy production, which significantly contributed to the expansion of hydrogen generation.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Hydrogen Generation Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Hydrogen Generation Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Hydrogen Generation Market, highlighting leading vendors and their innovative profiles. These include Air Liquide S.A., Air Products and Chemicals, Inc., Ally Hi-Tech Co., Ltd., AquaHydrex, Inc., Ballard Power Systems Inc., Caloric Anlagenbau GmbH, Claind S.r.l., Cummins Inc., Enapter S.r.l., ErreDue SpA, FuelCell Energy, Inc., Hiringa Energy Limited, HyGear, Hyster-Yale Materials Handling, Inc., Iwatani Corporation, Linde PLC, Mahler AGS GmbH, McPhy Energy S.A., Messer Se & Co. KGaA, Nel ASA, NewHydrogen, Inc., Nippon Sanso Holdings Corporation, Plug Power Inc., Proton Energy Systems, Inc., Teledyne Energy Systems, Inc., and Xebec Adsorption Inc..

Market Segmentation & Coverage

This research report categorizes the Hydrogen Generation Market to forecast the revenues and analyze trends in each of the following sub-markets:

Process
- Biological Processes
  - Microbial Biomass Conversion

Direct Solar Water Splitting Processes
- Photobiological
- Photoelectrochemical

Electrolytic Processes
Thermochemical Processes
- Biomass Gasification
- Biomass-derived Liquid Reforming
- Natural Gas Reforming
- Solar Thermochemical Hydrogen

Technology
- Gasification
- Pyrolysis
- Reforming Technologies
  - Autothermal Reforming
  - Partial Oxidation
  - Steam Reforming
Source
- Blue Hydrogen
- Green Hydrogen
- Grey Hydrogen

Storage
- On-Board Hydrogen Storage
- Power-To-Gas Hydrogen Storage
- Underground Hydrogen Storage

Application
- Ammonia Production
- Methanol Production
- Petroleum Refinery
- Power Generation
- Transportation

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Hydrogen Generation Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Hydrogen Generation Market?

3. What are the technology trends and regulatory frameworks in the Hydrogen Generation Market?

4. What is the market share of the leading vendors in the Hydrogen Generation Market?

5. Which modes and strategic moves are suitable for entering the Hydrogen Generation Market?

Product Code: MRR-6E71EA1EF144

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Favorable Government Initiatives for Hydrogen Projects
  - 5.1.1.2. Increasing Demand for Green and Clean Fuel
  - 5.1.1.3. Rising Application of Hydrogen in Varied Industries
- 5.1.2. Restraints
  - 5.1.2.1. Concerns Related to High Capex and Energy Intensive Operations Related to Hydrogen Generation & Storage
- 5.1.3. Opportunities
  - 5.1.3.1. Future Plans & Investment Toward the Development of Hydrogen Based Economy
  - 5.1.3.2. Ongoing Efforts in the Development of Green Hydrogen Production Technologies
- 5.1.4. Challenges
  - 5.1.4.1. Issues of Safety in the Use of Hydrogen
5.2. Market Segmentation Analysis
- 5.2.1. Process: Increasing adoption of electrolytic and biological processes in the production of renewable energy sources
- 5.2.2. Technology: Utilization of gasification and pyrolysis technology in the zero-carbon hydrogen production
- 5.2.3. Storage: Widening use of on-board and P2G hydrogen storage in transportation and power generation applications
- 5.2.4. Application: Extensive applications of hydrogen generation in varied industry sectors
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Hydrogen Generation Market, by Process

6.1. Introduction
6.2. Biological Processes
6.3. Direct Solar Water Splitting Processes
6.4. Electrolytic Processes
6.5. Thermochemical Processes

7. Hydrogen Generation Market, by Technology

7.1. Introduction
7.2. Gasification
7.3. Pyrolysis
7.4. Reforming Technologies

8. Hydrogen Generation Market, by Source

8.1. Introduction
8.2. Blue Hydrogen
8.3. Green Hydrogen
8.4. Grey Hydrogen

9. Hydrogen Generation Market, by Storage

9.1. Introduction
9.2. On-Board Hydrogen Storage
9.3. Power-To-Gas Hydrogen Storage
9.4. Underground Hydrogen Storage

10. Hydrogen Generation Market, by Application

10.1. Introduction
10.2. Ammonia Production
10.3. Methanol Production
10.4. Petroleum Refinery
10.5. Power Generation
10.6. Transportation

11. Americas Hydrogen Generation Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Hydrogen Generation Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Hydrogen Generation Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Chevron acquires majority stake in the advanced clean energy storage hydrogen project in Delta, Utah
- 14.3.2. NTPC Partners With Ohmium For PEM Electrolyzers To Boost Green Hydrogen Production
- 14.3.3. Naturgy and Enagas Renovable to Invest €485m in Green Hydrogen Production Plant in Spain
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio