Hydrogen Generation Market Analysis

The market is segmented based on source into blue hydrogen, green hydrogen, and grey hydrogen. Among these, the segment for blue hydrogen is anticipated to occupy the largest market share during the forecast period accounting to its low production cost and the usage of energy efficient technology for its production. Additionally, on the basis of application, the transportation segment in the hydrogen generation market is projected to grow with a significant CAGR over the forecast period. The growth of the segment is mainly driven by the rise in demand for fuel cell electric vehicles (FCEV) and increasing requirement of energy in developing countries.

Our in-depth analysis of the global market includes the following segments

By Source

Blue Hydrogen
Green Hydrogen
Grey Hydrogen

By Technology

Steam Methane Reforming (SMR)
Partial Oxidation (POX)
Coal Gasification
Electrolysis

By Application

Petroleum Refinery
Ammonia Production
Methanol Production
Transportation
Power Generation
Others

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of hydrogen generation is estimated at USD 169.37 billion.

Hydrogen Generation Market size was valued at USD 157.17 billion in 2023 and is likely to reach USD 523.67 billion by 2036, registering around 9.7% CAGR during the forecast period i.e., between 2024-2036. Rising demand for green & clean resources of energy and growing need for balancing demand and supply in the power sector will fuel the market growth.

Asia Pacific is expected to account for largest revenue share by 2036, owing to rising requirement of energy in the region and escalating adoption of greener technologies to fulfil government's targets for reducing GHG emissions, especially in China and India.

The major players in the market include Air Liquide, Cummins Inc., Linde plc, ITM Power plc, Nel ASA, and others.

Hydrogen Generation Market Analysis