"Hydrogen Generation Market by Generation and Delivery Mode (Captive and Merchant), Application (Petroleum Refinery, Ammonia Production, and Methanol Production), Technology (Steam Methane Reforming and Coal Gasification), and Region - Global Forecasts to 2022", The hydrogen generation market is expected to grow, by value, from an estimated USD 115.25 Billion in 2017 to USD 154.74 Billion by 2022, at a CAGR of 6.07%. The global market is set to witness growth due to government regulations for desulfurization of petroleum products and rising demand for hydrogen as a transportation fuel.
The merchant segment is expected to hold the largest share of the hydrogen generation market, by generation and delivery mode, during the forecast period.
The merchant segment is expected to grow at the fastest rate during the forecast period, owing to the increasing need for hydrogen for desulfurization of petroleum products. This segment is primarily driven by decreasing crude oil quality and is expected to create new revenue pockets for the hydrogen generation market during the forecast period.
Steam methane reforming is expected to be the largest segment of the hydrogen generation market.
With regard to the technology segment, the steam methane reforming segment of the hydrogen generation market is expected to be the largest market in 2017. The technology is employed in numerous applications such as chemical and pharmaceutical manufacturing, hydrogenation of oil, and petroleum refining, among others. Steam methane reforming is a mature technology and is widely adopted in these industries due to its higher efficiency when compared to other processes.
Middle East: The fastest growing market for hydrogen generation.
In this report, the hydrogen generation market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The Middle East is expected to grow at the fastest rate during the forecast period given the rising demand for hydrogen in ultra-low sulfur diesel fuel in Saudi Arabia, Iran, and Qatar.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the hydrogen generation market. These players include Air Liquide S.A. (France), Air Products and Chemicals, Inc. (U.S.), Linde AG (Germany), Praxair, Inc. (U.S.), Showa Denko K.K. (Japan), Hydrogenics Corporation (Germany), Proton Onsite (U.S.), Nuvera Fuel Cells, LLC (U.S.), and Messer Group GmbH (Germany). The leading players are trying to make inroads in the markets in developing economies and are adopting various strategies to increase their market shares.
Source: ASDReports - Market Research
Date: May 2, 2017