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Hydrogen Generation Market to Reach USD 306.88 Billion in 2030| Emergen Research

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Emergen Research

05 Jan, 2023, 14:30 GMT

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VANCOUVER, B.C., Jan. 5, 2023 /PRNewswire/ -- The hydrogen generation market reached USD 135 Billion in 2021 and is expected to register a CAGR of 9.8% during the forecast period, according to latest analysis by Emergen Research. Demand for long-term storage of renewable resources is a key factor driving hydrogen generation market revenue growth.

Drivers:

Increasing trend of shifting toward clean energy and growing deployment of hydrogen fuel cells

The requirement for this market is projected to rise because of rapidly rising demand for fuel cell electric vehicles (FCEVs), such as passenger cars, buses, lorries, and other heavy-duty vehicles. FCEVs are equipped with a fuel cell device, and they run on hydrogen as their main fuel, eliminating harmful emissions. Additionally, there are now significantly more FCEVs on the road as a result of massive FCEV deployment targets set by several countries. The International Energy Agency (IEA), for instance, stated in June 2020 that South Korea plans to deploy around 81,000 FCEVs by 2022 and 2.9 million vehicles by 2040. Continuous urban and industrial growth has forced countries to adopt various power-producing technologies to meet demand.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1111

Additionally, there are development programs in areas like the Middle East and Africa, and the Asia Pacific with fast-rising populations. Concerns about using sustainable energy sources to lessen reliance on fossil fuels like crude oil and natural gas are becoming increasingly important in the global economy.

Restraints:

Disruptions in supply chain after pandemic

The world's economic systems have been worse as a result of the sudden SARS-CoV-2 (Severe Acute Respiratory Syndrome Coronavirus 2) outbreak that spread from China to every country in the world. The financial stability of countries has been adversely affected by severe government laws designed to contain the virus, such as national and state lockdowns, restricted foreign travel, and social distance norms. To stop the spread of infection to humans, all industrial facilities, manufacturing plants, and road transportation operations have come to a complete halt. Continuous urban and industrial growth has forced countries to adopt various power-producing technologies to meet demand.

Additionally, there are development programs in areas like the Middle East and Africa and the Asia Pacific with fast-rising populations. Concerns about using sustainable energy sources to lessen reliance on fossil fuels like crude oil and natural gas are becoming increasingly important in the global economy. As a result of the declining demand and cash-deficit issues among small businesses and clients, the global market for hydrogen generation has also been affected by the pandemic. The situation is however returning to normal as countries have ceased lockdowns and consumers are back to normal routines.

Growth Projections:

The hydrogen generation market is expected to register a CAGR of 9.8% over the forecast period and revenue is projected to increase from USD 135 Billion in 2021 to USD 306.88 Billion in 2030.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/hydrogen-generation-market

Current Trends and Innovations:

Many participants working at different levels of the sector are committed to broadening their horizons and establishing new-generation industries. Additionally, partnerships to manufacture green H2 fuel using emission-free technology is projected to open the door for the expansion of the global hydrogen-generating industry. For instance, Plug Power Inc. stated in March 2021 that it will collaborate with various Brookfield Renewable Partners divisions to build a green hydrogen plant in Pennsylvania, United States. A total of 15 metric tons of liquid hydrogen will be produced daily at the new facility to support the de-carbonization of the logistics and transportation sectors. 

Strategic Initiatives:

Major companies included in the market report are Enapter, Claind, Atawey, Hiringa Energy, Exytron, Messer, Hydrogenics Corporation, SOL Group, Iwatani Corporation, and Linde PLC.

  • On July 19, 2021, As part of its 200-turbine floating wind-to-hydrogen project in the North Sea, Cerulean Winds signed an agreement with Hp Group to assist onshore green hydrogen reactors and related industrial infrastructure at sites in Scotland and England. The lease and ownership agreements for the sites, as well as the securing of planning licenses and permits, would be the responsibility of the UK operator of large-scale industrial facilities. Before engaging in further in-depth discussions with local government, regulatory, and environmental stakeholders, this would entail getting the blueprint approved.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1111

Scope of Research

Report Details

Outcome

Market Size in 2021

USD 135 Billion

CAGR (2022–2030)

9.8 %

Revenue Forecast to 2030

USD 306.88 Billion

Base Year for Estimation

2021

Historical Data

2019–2020

Forecast Period

2022–2030

Quantitative Units

Revenue in USD Billion and CAGR in % from 2022 to 2030

Report Coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments Covered

Technology, source, application, and region

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country Scope

U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa

Key Companies Profiled

Enapter, Claind, Atawey, Hiringa Energy, Exytron, Messer, Hydrogenics Corporation, SOL Group, Iwatani Corporation and Linde PLC.

Customization Scope

10 hours of free customization and expert consultation

Custom Requirements can be requested for this Report [Customization Available] @ https://www.emergenresearch.com/request-for-customization/1111

Emergen Research has segmented hydrogen generation market on the basis of technology, source, application, and region:

  • Technology Outlook (Revenue, USD Billion; 2019–2030)
    • Steam Methane Reforming
    • Coal Gasification
    • Electrolysis
    • Partial Oxidation
  • Source Outlook (Revenue, USD Billion; 2019–2030)
    • Blue Hydrogen
    • Green Hydrogen
  • Application Outlook (Revenue, USD Billion; 2019–2030)
    • Petroleum Refinery
    • Ammonia Production
    • Methanol Production
    • Transportation
    • Power Generation
    • Others
  • Regional Outlook (Revenue, USD Billion, 2019 - 2030)
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • Rest of APAC
    • Latin America
      • Brazil
      • Mexico
      • Rest of LATAM
    • Middle East & Africa
      • UAE
      • Saudi Arabia
      • Africa
      • Rest of Middle East

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About Emergen Research 

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:
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Emergen Research | Web: www.emergenresearch.com 
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
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