Hydrogen Generator Market Outlook, Opportunity and Demand Analysis Report by 2030

Allied Market Research recently published a report, titled, “Hydrogen Generator Market by Product Type, Process, Capacity, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030.” As per the report, the global hydrogen generator industry generated $1.2 billion in 2020, and is projected to garner $2.2 billion by 2030, growing at a CAGR of 5.8% from 2021 to 2030.

Government regulations over the greenhouse gas emissions and desulfurization, energy storage, and hydrogen cell powered electric vehicles have boosted the growth of the global hydrogen generator market. However, high capital cost of hydrogen energy storage hinders the market growth. On the contrary, development of various eco-friendly hydrogen production technologies would open new opportunities for the market players in the future.

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By product type, the onsite segment dominated the market in 2020, accounting for nearly three-fourths of the global hydrogen generator market, as it is used in several industrial and commercial sectors such as energy, automobile, medical, pharmaceutical, and food & beverage packing. However, the portable segment is projected to register the highest CAGR of 6.5% during the forecast period, owing to rise in awareness among people regarding the greenhouse gases and surge in demand for energy and fossil fuels.

By capacity, the less than 300 W segment is expected to showcase the highest CAGR of 6.7% during the forecast period, as they are ideal alternative for standard portable generators. However, the more than 1 kW segment held the lion’s share in 2020, contributing to nearly half of the global hydrogen generator market, owing to rise in demand for sustainable energy solutions and shift toward renewable energy solutions.

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By region, the global hydrogen generator market across North America held the largest share in 2020, accounting for nearly one-third of the market. However, the market across Asia-Pacific is expected to manifest the highest CAGR of 7.2% during the forecast period, owing to rise in concern from government across emerging nations regarding zero emission norms.

The major companies profiled in this report include Air Liquide Air Products and Chemical Inc., Praxiar technology Inc., Linde AG., Proton On-site Inc., Hy9 Corporation, Hydrogenics Corporation, Epoch Energy Technology Corporation, MVS Engineering Pvt. Ltd., McPhy Energy SA, and Nel Hydrogen. 

The key players are involved in partnership and acquisition strategies to attain key developments in the hydrogen generator market. For instance, in the year 2020, Air products and Thyssenkrupp signed an exclusive cooperation agreement for world scale electrolysis plants to generate hydrogen. In this agreement, Thyssenkrupp will provide required equipment and technical services for water electrolysis plant built, which would be operated by Air Products and Chemicals. 

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Covid-19 scenario:

  • The advent of Covid-19 negatively affected the automotive industry due to decline in demand for passenger vehicles and economic fall during the pandemic. Moreover, several consumers delayed adoption of large scale hydrogen fuel vehicles due to high cost compared to fossil fuel vehicles.
  • Moreover, closure of several production facilities resulted in reduction in demand for electricity, which hampered the hydrogen production.
  • On the other hand, demand for continuous energy in hospitals during the pandemic increased the demand for hydrogen fuel cells.

Key findings of the study

  • The Asia-Pacific hydrogen generator market is projected to grow at the highest CAGR of around 7.2%, in terms of revenue, during the forecast period.
  • By product type, the onsite segment accounted for the largest market share in 2020.
  • By process, the steam reforming segment accounted for the largest market share in 2020.
  • By capacity, the more than 1KW segment accounted for the largest market share in 2020.
  • By application, the processing segment accounted for the largest market share in 2020.

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumaris instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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