Hydrogen Generator Market Size, Share & Analysis Report, 2023-2032
The global hydrogen generator market size was exhibited at USD 146.69 billion in 2022 and is projected to hit around USD 341.89 billion by 2032, growing at a CAGR of 8.83% during the forecast period 2023 to 2032.
Key Pointers:
Hydrogen generator is a machine that produces hydrogen from water and fossil fuels using various processes such as steam reforming and electrolysis. It uses a proton exchange membrane to produce high purity hydrogen gas from water and this technology was first developed by NASA and applied to generate electricity for spacecrafts. Hydrogen generators are now used in several end-use applications such as chemical processing, fuel cells, refining, and petroleum recovery.
Hydrogen Generator Market Report Scope
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Report Coverage |
Details |
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Market Size in 2023 |
USD 159.64 Billion |
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Market Size by 2032 |
USD 341.89 Billion |
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Growth Rate From 2023 to 2032 |
CAGR of 8.83% |
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Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
By Product Type, By Process, By Application |
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Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
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Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key Companies Profiled |
Air Products and Chemicals Inc., Athena Technology, Chromatec SDO JSC, Chromservis sro, Cummins Inc., EPOCH Energy Technology Corp., F-DGSi, Air Liquide SA, Linde Plc, LNI Swissgas SRL, Matheson TRI Gas Inc., McPhy Energy SA, MVS Engineering Pvt. Ltd., Nel ASA, Nuberg Engineering Ltd., Parker Hannifin Corp., PCI Analytics Pvt. Ltd., PerkinElmer Inc., Scientific Repair Inc., Teledyne Technologies Inc. |
Hydrogen Generation Market Dynamics
Driver: Extensive research and development (R&D) to develop green hydrogen production technologies
Hydrogen produced is mostly used by petroleum refineries and fertilizer producing companies. A total of 99% of hydrogen comes from fossil fuel reforming, as it is the most conventional and cost-effective method. But it is not beneficial for the environment due to CO2 emission. Green hydrogen is produced from electrolysis. Electrolysis is the method used to produce green hydrogen as it uses electricity to split water into hydrogen and oxygen and gives out zero carbon emissions. One of the objectives that various nations have set for 2050 is the decarbonization of the earth. The generation of an element like hydrogen, which produces green hydrogen, is one of the key factors in achieving this goal because it now accounts for more than 2% of worldwide CO2 emissions. For instance, the European Union (EU) released a unique hydrogen policy in 2020 that combines initiatives to support green hydrogen generation capacities’ rapid growth. By 2023, Florida Power & Light plans to have a 20 MW green hydrogen plant up and running. The 1.75 gigawatts Okeechobee gas-fired plant owned by FP&L will utilize this hydrogen in a 20% blend.
Restraint: Energy loss in value chain
Hydrogen is a synthetic energy carrier. It transports energy produced by various other processes. Water electrolysis converts electrical energy into hydrogen. However, in addition to producing hydrogen, high-grade electrical energy is also utilized to compress, liquefy, transport, transfer, or store the medium. Energy is needed for the production of hydrogen. The energy input should ideally match the energy level of the synthetic gas. Any method of producing hydrogen, such as electrolysis and reforming, involves energy transformation. The chemical energy of hydrogen is converted from electrical energy or the chemical energy of hydrocarbons. Unfortunately, energy losses are always a part of the creation of hydrogen.
Energy loss occurs across every step of the value chain for hydrogen production. In the production stage, the energy needed for electrolysis is lost by around 30%. An additional 10–25% of energy is lost during conversion to other forms. Energy input is needed to deliver green hydrogen, either in the form of fuel for vehicles or energy from pipes. Utilizing hydrogen in fuel cells results in more energy loss.
Opportunities: Rising focus on achieving net zero emission target by 2050
Hydrogen production goes through an unprecedented revolution under the net zero emissions scenario. When the global output reaches 200 Mt H2 in 2030, low-carbon technologies will account for 70% of that production (electrolysis). By 2050, the amount of hydrogen produced will have increased to about 500 Mt H2, almost entirely due to low-carbon technologies. Different technologies will be needed to alter the energy system to achieve net zero emissions by 2050. Energy efficiency, behavioral modification, electrification, renewable energy, hydrogen and hydrogen-based fuels, and carbon, capture, utilization, and storage (CCUS) are likely to be the major pillars for decarbonizing the world’s energy system.
In the net zero emissions scenario, strong hydrogen demand growth and the adoption of cleaner technologies for its production will allow hydrogen and hydrogen-based fuels to prevent up to 60 Gt of CO2 emissions in 2021–2050, or 6.5% of all cumulative emissions reductions. Utilizing hydrogen fuel is especially important for cutting emissions in hard-to-decarbonize industries, including heavy industries (especially steel and chemical), heavy-duty road transport, shipping, and aviation, where direct electrification is challenging.
Challenges: High costs associated with production of green hydrogen
Green hydrogen is obtained from renewable resources or low-carbon power. Green hydrogen can assist energy-intensive, difficult-to-decarbonize industries and sectors such as steel, chemical, transportation, shipping, and aviation in achieving net-zero carbon dioxide (CO2) emissions. However, production prices must be reduced to make it affordable for all nations. Blue hydrogen, created from fossil fuels and carbon capture and storage, now costs twice as much as green hydrogen (CCUS).
CCUS is still the primary low-carbon hydrogen generation method and is likely to stay that way in the future because production costs are lower than for other low-carbon technologies such as water electrolysis. Electrolysis is an established technology that has long been employed in some industrial processes, such as the creation of chlorine in the Chlor-alkali process. The production of dedicated hydrogen has not yet gained widespread use. Currently, 30 kt of hydrogen is created exclusively through electrolysis yearly, or around 0.03% of all hydrogen produced. The level is low because electrolytic hydrogen production costs (USD 3–8/kg H2) are higher than those from unrestricted fossil fuels (USD 0.5–1.7/kg H2).
Some of the prominent players in the Hydrogen Generator Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Hydrogen Generator market.
By Product Type
By Process
By Application
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Hydrogen Generator Market
5.1. COVID-19 Landscape: Hydrogen Generator Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Hydrogen Generator Market, By Product Type
8.1. Hydrogen Generator Market, by Product Type, 2023-2032
8.1.1 Onsite type
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Portable type
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Hydrogen Generator Market, By Process
9.1. Hydrogen Generator Market, by Process, 2023-2032
9.1.1. Steam reforming
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. electrolysis
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. others
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Hydrogen Generator Market, By Application
10.1. Hydrogen Generator Market, by Application, 2023-2032
10.1.1. Chemical processing
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Fuel Cells
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Petroleum recovery
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Refining
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. others
10.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Hydrogen Generator Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.1.2. Market Revenue and Forecast, by Process (2020-2032)
11.1.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.2.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.3.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product Type (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Application (2020-2032)
Chapter 12. Company Profiles
12.1. Air Products and Chemicals Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Athena Technology
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Chromatec SDO JSC
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Chromservis sro
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Cummins Inc.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. EPOCH Energy Technology Corp.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. F-DGSi
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Air Liquide SA
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Linde Plc
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. LNI Swissgas SRL
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers