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Hydrogen Generator Market Is Growing at CAGR of 5% to Reach a Billion Dollar Figure in Coming Years

Global Hydrogen Generator Market Report by Product (On-Site and Portable), by Process (Steam Reformer and Electrolysis), by Capacity (<100 Nm3/h, 100-2,000 Nm3/h and >2,000 Nm3/h), by Application (Chemical Processing, Petroleum Recovery, Fuel Cells and Refinery) and by Region - Global Forecast to 2023

 

Pune, India -- (SBWIRE) -- 10/24/2017 -- Market Highlights
Hydrogen generator are predominantly used in industrial applications, owing to their extreme reliability and comparatively low use of fuel when compared to diesel generators. Hydrogen generator are mainly installed at a consumer site to produce hydrogen. Continuous power supply to the electronic devices and a source of power backup for industrial and commercial organizations is a becoming a basic need to work without any loss in productivity which is provided by hydrogen generators on large scale. Hydrogen generator also ensure safe and reliable source of energy for chemical processing, petroleum recovery, fuel cells and refinery.

Hydrogen generator are classified based on their product type such as on-site and portable. On-site hydrogen generator market is expected to grow at a high rate in forecast period as, increasing hydrogen demand in oil & gas, refineries and other industries owing to its low emission characteristics are the key driver of the on-site hydrogen generator market. Also portable hydrogen generator is projected to witness highest gain till 2023 owing to drifting concentration for renewable energy. Environmental sustainability, high power to weight ratio, and noise free characteristics.

Hydrogen Generator Market is expected to grow with the CAGR of approximately 5% from 2017 to 2023

Key Players:
The key players of Global Hydrogen Generator Markets are
- Air Liquide S.A. (France),
- Air Products and Chemicals, Inc. (U.S),
- Epoch Energy Technology Corporation (Taiwan),
- LNI Swissgas SA (Switzerland),
- Hydrogenics-Corporation (Canada),
- Idroenergy S.R.L. (Italy),
- Linde AG (Germany),
- McPhy Energy S.A. (France),
- Proton OnSite (U.S)
- Praxair, Inc. (U.S).

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Market Research Analysis
North America region is expected to grow at the fastest rate

In 2016, North America accounted for the highest market share (about 40% of total) in hydrogen generator market. This is due to growing conversion of conventional coal-fired power plants into cleaner fuel power plants such as, hydrogen. The growth in chemical industries, oil & gas and refineries in this region, and shale gas exploration in the region, will drive hydrogen generator market in this region.

Hydrogen generator are predominantly used in industrial applications, owing to their extreme reliability and comparatively low use of fuel when compared to diesel generators. Hydrogen generator are mainly installed at a consumer site to produce hydrogen. Continuous power supply to the electronic devices and a source of power backup for industrial and commercial organizations is a becoming a basic need to work without any loss in productivity which is provided by hydrogen generators on large scale. Hydrogen generator also ensure safe and reliable source of energy for chemical processing, petroleum recovery, fuel cells and refinery.

Hydrogen generator are classified based on their product type such as on-site and portable. On-site hydrogen generator market is expected to grow at a high rate in forecast period as, increasing hydrogen demand in oil & gas, refineries and other industries owing to its low emission characteristics are the key driver of the on-site hydrogen generator market. Also portable hydrogen generator is projected to witness highest gain till 2023 owing to drifting concentration for renewable energy. Environmental sustainability, high power to weight ratio, and noise free characteristics.

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The market has been analyzed based on product, process, capacity, application and regions. On the basis of product, the steam reformer electrolysis market was valued above USD 650 million in 2016. Steam reformer produces hydrogen gas from hydrocarbon fuels such as natural gas which comprises methane and methanol. The growing demand for hydrogen in manufacturing of chemicals and processing is forecast to boost hydrogen generator growth steam reformer electrolysis

Chemical Processing Segment is expected to hold the largest share in the hydrogen generator market from 2017-2023

The major growth driver for the chemical processing segment market for hydrogen generator during the forecast period is the increasing hydrogen demand for chemical processing as chemical processing uses hydrogen to process ammonia, methanol, and other chemicals. Also the demand for more hydrogen in order to subordinate the sulfur content of diesel in line with strict government regulations to diminish sulfur content, would add to the growth.

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