SAN FRANCISCO, August 7, 2018 /PRNewswire/ --
The global hydrogen generation market size is predicted to be valued at USD 180.2 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% over the forecast period. Rising demand for renewable sources of energy and safe fuels is projected to boost market growth.
Increasing adoption of hydrogen and awareness toward importance of energy conservation are expected to boost the global market for hydrogen generation by 2025. Rising efforts to shift focus from fossil fuels to renewable fuels is expected to further propel market expansion. Numerous countries are introducing stringent regulations to significantly reduce indiscriminate use of conventional fuels responsible for excessive greenhouse gas emissions.
Hydrogen is among the most abundantly available elements on earth and it plays an important role in agriculture, fertilizer and chemical manufacturing, and pharmaceutical production among others. Over the next two decades, hydrogen is expected to be on par with electricity as an effective energy carrier. It is safely derived from renewable sources of energy and is effective in reducing emissions.
The merchant segment includes both small and large dealers, wholesalers, and companies deriving hydrogen as an excess byproduct. In terms of volume, captive hydrogen is the fastest growing segment with a CAGR of 9.2%. Captive is defined as on-site hydrogen generation, which eliminates numerous problems linked to conveyance and distribution of hydrogen. Therefore, the market is expected to grow substantially in future.
In terms of application, the steam methane reforming segment accounted for 68.8% of the global hydrogen generation market volume in 2016. In this method, methane containing raw material like natural gas is heated at a temperature between 700°C to 1,000°C, which produces hydrogen as a by-product. The coal gasification technology segment is anticipated to expand at a steady CAGR over the forecast period. Gasification of coal is one of the processes applied to produce liquid fuels, power, hydrogen, and chemicals.
Browse full research report with TOC on "Hydrogen Generation Market Size, Share & Trends Analysis Report By Application (Coal Gasification, Steam Methane Reforming), By Technology, By System (Merchant, Captive), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/hydrogen-generation-market
Further Key Findings From the Report Suggest:
- The U.S. hydrogen generation market revenue is projected to expand at a substantial CAGR over the forecast period. Favorable government regulations, coupled with financial and economic benefits offered for adopting renewable sources of energy, are expected to boost industry growth by 2025
- Rising demand for reliable supply for different end-use industries primarily in commercial sectors are projected to drive the Europe market
- In 2016, China was among the largest markets in Asia Pacific, owing to systematic shift from fossil fuels to renewable energy to restrict carbon footprint.
Browse related reports by Grand View Research:
- BIPV Market - The global BIPV and BIOPV market size was valued at USD 6.94 billion in 2015 and is expected to witness significant growth over the next eight years.
- Wind Energy Foundation Market - The global wind energy foundation market size was valued at USD 73.4 billion in 2015.
- Solar Pumps Market - The Global solar pumps market was 102,188 units in 2013. Increasing agricultural activities coupled with water extraction for irrigation based on renewable energy is expected to drive the global solar pumps market over the forecast period.
- Fuel Ethanol Market - The global fuel ethanol market size was estimated at USD 64.52 billion in 2016.
Grand View Research has segmented the global hydrogen generation market on the basis of technology, application, system, and region:
- Hydrogen Generation Technology Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2014 - 2025)
- Methanol Production
- Ammonia Production
- Petroleum Refinery
- Hydrogen Generation ApplicationOutlook (Volume, Million Metric Tons; Revenue, USD Billion, 2014 - 2025)
- Coal Gasification
- Steam Methane Reforming
- Hydrogen Generation SystemOutlook (Volume, Million Metric Tons; Revenue, USD Billion, 2014 - 2025)
- Hydrogen Generation Regional Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2014 - 2025)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- North America
Explore the BI enabled intuitive market research database, The Grand Library, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
SOURCE Grand View Research, Inc.