Hydrogen Generation Market Share

APAC Market Statistics

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. 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.

North America Market Analysis

Furthermore, North America is anticipated to garner the largest market share during the forecast period owing to the growing investment in research and development and the government’s support to promote hydrogen generation using innovation funds, mandatory targets, and public-private partnerships. In 2021, the United States’ hydrogen production is evaluated to constitute to about 12%–15% of global hydrogen production. Similarly, the market in Europe is also anticipated to occupy a significant share in the market on account of the increasing adoption of electric vehicles in the region.

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 Share