Global Hydrogen Generation Market 2017-2021
About Hydrogen Generation
Hydrogen generation market refers to the market where hydrogen is generated using different processes such as steam reforming and electrolysis. The hydrogen generation market can be classified on the basis of product either as an on-site hydrogen generator or as a portable hydrogen generator. The generated hydrogen finds application in multiple industries such as chemical, refineries, metal processing, and transportation.
Technavio’s analysts forecast the global hydrogen generation market to grow at a CAGR of 5.99% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global hydrogen generation market for 2017-2021. To calculate the market size, the report considers the new sales in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hydrogen Generation Market 2017-2021
Technavio recognizes the following companies as the key players in the global hydrogen generation market: Air Liquide, Air Products and Chemicals, Hydrogenics, Messer Group, and The Linde Group
Other Prominent Vendors in the market are: ALLY HI-TECH, CALORIC, CLAIND, ErreDue, Heliocentris Group, HYGEAR, Iwatani, Mahler AGS, McPhy Energy, NUVERA FUEL CELLS, PARKER HANNIFIN, Praxair Technology, ProtonOnsite, SHOWA DENKO K.K., TAIYO NIPPON SANSO, Teledyne Technologies, and XEBEC.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Development of carbon capture technologies. Globally, majority of hydrogen is produced from fossil fuels. The future production of hydrogen would come from the reforming of natural gas and electrolysis powered by a grid mix inclusive of coal-fired power plants. The production of hydrogen from fossil fuels will lead to the production of carbon dioxide (CO₂) as a by-product.”
According to the report, one of the major drivers for this market is Growing demand for fertilizers. With the rise in population, the demand for food is also expected to follow suit. By 2025, the demand for food is expected to double. Intensive farming and protective cropping methods would be required to meet this growing demand; however, environmental fluctuations can have a negative impact on most agricultural systems. Less than a billion population is still living under persistent hunger conditions. For the nutrient management of the global population, there will be continuous increment in agricultural production.
Further, the report states that one of the major factors hindering the growth of this market is Changes in government policies and regulations. The hydrogen and fuel cell industry is at a development phase and is not being regulated by industry-specific government regulations on matters related to storage, design, transportation, and installation of fuel cell systems and hydrogen infrastructure products in Canada, the EU, the US, as well as other jurisdictions. The production of electricity is also a typical area where specific government regulations play a significant role. There are new technologies being developed where hydrogen will be used for storing electricity in renewable electricity generation. As of now, there are no industry-specific regulations for fuel cell vehicles. However, with future growth prospects, the hydrogen generation market is expected to encounter specific government regulations in operating markets.
Air Liquide, Air Products and Chemicals, Hydrogenics, Messer Group, The Linde Group, ALLY HI-TECH, CALORIC, CLAIND, ErreDue, Heliocentris Group, HYGEAR, Iwatani, Mahler AGS, McPhy Energy, NUVERA FUEL CELLS, PARKER HANNIFIN, Praxair Technology, ProtonOnsite, SHOWA DENKO K.K., TAIYO NIPPON SANSO, Teledyne Technologies, and XEBEC.