Hydrogen Generation Market Players: Linde Plc, Matheson Tri-Gas, Inc., Messer, And SOL Group
Hydrogen Generation Industry Overview
The global hydrogen generation market size is expected to reach USD 225.55 billion by 2030, registering a CAGR of 6.4% during the forecast period, according to a new report by Grand View Research, Inc. The global hydrogen generation market is likely to be driven by the growing 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 penetration into newer markets. The global electricity demand is anticipated to witness an increase by nearly two-thirds of the current demand in the forecast period. Focus on the projects, related to distributed power & utility, expected to bolster the demand for hydrogen generation market growth during the forecast period.
The Methane Reforming segment led the market in 2021. This was the dominant segment in 2021 and is expected to keep its position during the forecast period. Steam Methane reforming is a method for producing hydrogen, along with other gases including carbon monoxide and carbon dioxide. The steam methane reforming process is a mature and advanced technology in hydrogen generation. The growing demand for hydrogen generation across the globe is a crucial driving factor for steam methane reformers technology, as steam methane reforming is the most economical method for hydrogen generation.
In Application, the ammonia production segment led the market in 2021. The ammonia segment will keep its lead during the forecast period. The future growth of the hydrogen generation market is expected to have steady growth in all the segments as application cases for hydrogen increase.
Hydrogen Generation Market Segmentation
Grand View Research has segmented the global hydrogen generation market based on technology, application, systems, source, and region:
Based on the Technology Insights, the market is segmented into Steam Methane Reforming, Coal Gasification, and Others.
- The global market has been further divided into Steam Methane Reforming, Coal Gasification, plus Others. The steam methane reforming process is a mature and advanced technology in hydrogen generation. The growing demand for hydrogen generation across the globe is a crucial driving factor for steam methane reformers technology, as steam methane reforming is the most economical method for hydrogen generation. Other factors driving the growth of the market include operational benefits such as high conversion efficiency associated with the steam methane reforming process. The Steam Methane Reforming segment is expected to keep its lead during the forecast period.
- Coal Gasification held a share of 34.58% in the global Hydrogen Generation Market in 2021. Coal gasification which uses coal as a raw material for producing hydrogen has been in practice for nearly two centuries, moreover, it is also recognized as a mature technology for hydrogen generation. The U.S. has a huge domestic resource in coal. The use of coal to generate hydrogen for the transportation sector is expected to help America in reducing its dependency on imported petroleum products.
Based on the Application Insights, the market is segmented into Methanol Production, Ammonia Production, Petroleum Refining, Transportation, Power Generation, and Others.
- Ammonia production segment led the market and accounted for the largest revenue share of more than 20.28% in 2021. The ammoniaproduction segment will maintain its lead throughout the forecast period. Ammonia’s potential as a carbon-free fuel, hydrogen carrier, and energy store represents an opportunity for renewable hydrogen technologies to be deployed at an even greater scale. Hydrogen is typically produced on-site at ammonia plants from a fossil fuel feedstock.
- The market is estimated to have a steady growth in all segments as the demand for hydrogen increases. Methanolis currently considered one of the most useful chemical products and is a promising building block for obtaining more complex chemical compounds, such as acetic acid, methyl tertiary butyl ether, dimethyl ether, methylamine, etc. Methanol is the simplest alcohol, appearing as a colorless liquid and with a distinctive smell, and can be produced by converting CO2 and H2, with the further benefit of significantly reducing CO2 emissions in the atmosphere.
Based on the Systems Insights, the market is segmented into Captive, and Merchant.
- Merchant generation of hydrogen means hydrogen is produced at a central production facility and is transported and sold to a consumer by bulk tank, pipeline or cylinder truck. In many countries such as the U.S., Canada, and Russia there is an extensive existing natural gas pipeline network that could be used to transport and distribute hydrogen. The merchant generation segment is expected to keep its lead during the forecast period.
Based on the Source Insights, the market is segmented into Natural Gas, Coal, Biomass, and Water.
- Hydrogen is produced from natural gas reforming which produces hydrogen, carbon monoxide, and carbon dioxide. Hydrogen production from natural gas is the cheapest method of producing hydrogen. It is expected to keep its lead during the forecast period.
Hydrogen Generation Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The hydrogen generation market is competitive with key participants involved in R&D and constant innovation done by the vendors. It has become one of the most important factors for companies to perform in this industry. For instance, Matheson Tri-Gas, Inc. acquired Linde HyCO business that produces hydrogen, carbon monoxide, or syngas.
The acquisition is expected to promote the expansion of the company’s capabilities and serve the petrochemical and refining industries. Air Liquide announced that the company will manufacture and market renewable liquid hydrogen to U.S. west coast mobility market. The large-scale project is expected to produce 30 tons of liquid hydrogen per day using biogas technology. Some of the 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.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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