Rising investment by companies and a surge in the number of refineries propelled the growth of the Hydrogen Generator Market in the Asia-Pacific region!

• Vikas Kumar
• November 14, 2023
• ENERGY & POWER, NEWS
• Hydrogen Generator Market Analysis, Hydrogen Generator Market Forecast, Hydrogen generator market Growth, Hydrogen Generator Market Outlook, Hydrogen generator market Share, Hydrogen generator market Size, Hydrogen Generator Market Trends
• 0 Comments

The Asia Pacific market is expected to register the highest growth rate in the forecast period due to the rising shift towards alternate sources of energy, supporting government regulations increasing the demand for hydrogen generators. Furthermore, the increased activities of research and developments in Asia regions, including countries like China, Japan, and Australia, are significantly contributing to the growth of the market. Several key global players, including Cummins, Air Liquide, and others have made significant investments in the Asia Pacific region.

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For instance, in 2021 Cummins Inc. announced the formation of a 50:50 joint venture in China “Cummins Enze (Guangdong) Hydrogen Technology Co., Ltd (“Cummins Enze”)” which will help in accelerating the affordability and availability of green hydrogen through increased technological innovation, research and development, and manufacturing capacity. The demand for hydrogen generators in countries like China, India, and Japan is driving the demand for hydrogen generators in the region. Among the other noteworthy geographic markets is Japan, forecast to grow at 2.5% over the period owing to the growing applications of hydrogen generators in refineries, along with the surge in demand for petroleum products in the region. Fuel cells are now commercially accessible in Japan for the first time. There are also proposals for a large-scale deployment of green hydrogen. To meet carbon emission limitations by 2025, the country plans to have 200,000 hydrogen fuel cells in automobiles and 320 hydrogen filling stations. Asia’s countries, notably India and Singapore, have initiated or plan to begin initiatives to promote the use of fuel cells in their respective markets. The major focus in these countries is on the fuel cells for backup power. Furthermore, Governments in certain Asia-Pacific nations, like Australia and Japan, are also researching cleaner, greener methods of producing hydrogen. To increase their revenue, hydrogen manufacturers in the area are aiming to broaden their geographic reach and focus on emerging nations like South Africa, Vietnam, and Indonesia. As part of their strategic expansion strategies, U.S.-based industry leaders like Praxair Inc. and Air Liquide want to increase their operations in the nations where the need for hydrogen is rising.

Further, the Asia Pacific Hydrogen Generator Market is expected to grow with a significant CAGR during the forecast period (2023-2030). Asia-Pacific is expected to grow with a robust CAGR during the forecast period. home to a large and growing population, as well as a rapidly expanding middle class, which is driving demand for clean and sustainable energy sources. Additionally, the region is home to a large and diverse range of industries, including transportation, energy, and chemicals, which are all potential users of hydrogen fuel cells and other hydrogen-based technologies. The APAC region is driving the market for hydrogen generators for several reasons. The region has a large and growing demand for clean and sustainable energy sources. The region has a large and diverse range of industries that could benefit from the use of hydrogen fuel cells and other hydrogen-based technologies. The region has a large and growing population, which is driving demand for clean and sustainable energy sources. For instance, in March 2021, the Ministry of Economy, Trade, and Industry (METI) India updated the national hydrogen strategy to place 200000 FCEV units by 2025, and 800000 units by 2030.

Based on process, the market is bifurcated into electrolysis and steam reforming. The steam reforming segment holds the highest share of the market as of 2022. Steam reforming is a process that uses steam and a catalyst to convert natural gas (such as methane) into hydrogen gas. This process is widely used in the production of hydrogen for fuel cells and other applications, as it is a cost-effective and efficient way to produce hydrogen. The steam reforming segment is driving the market for hydrogen generators for several reasons. First, it is a widely used and well-established technology, with a proven track record of success. Second, it is a scalable technology, allowing for the efficient production of hydrogen gas at a range of scales. Third, it is a versatile technology, as it can be used to produce hydrogen from a variety of feedstocks, including natural gas, biogas, and even waste gas. Overall, the steam reforming segment is driving the market for hydrogen generators due to its proven track record, scalability, and versatility.

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Based on application, the market is segmented into chemical processing, fuel cells, petroleum recovery, refining, and others. The chemical segment is expected to grow at a significant CAGR. Chemical processes, such as ammonia synthesis and refining, often require the use of hydrogen gas. Hydrogen can be produced using a variety of methods, including steam reforming, water electrolysis, and biomass gasification. The chemical segment is driving the market for hydrogen generators for several reasons. First, it is a widely used and well-established technology, with a proven track record of success. Second, it is a scalable technology, allowing for the efficient production of hydrogen gas at a range of scales. Third, it is a versatile technology, as it can be used to produce hydrogen from a variety of feedstocks, including natural gas, biogas, and even waste gas.

Global Hydrogen Generator Market Segmentation

Market Insight, by Product

• On-site
• Portable

Market Insights, by Capacity

• <100 Nm3/h
• 100-2000 Nm3/h
• >2000 Nm3/h

Market Insights, by Process

• Steam Reforming
• Electrolysis

Market Insights, by Application

• Chemical Processing
• Fuel Cells
• Petroleum Recovery
• Refining
• Others

Market Insight, by Region

• North America
  •  U.S.
  •  Canada
  •  Rest of North America
• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• APAC
  • China
  • Japan
  • India
  • Australia
  • Rest of APAC
• Rest of the World

Top Company Profiles

• Air Liquide
• Air Products and Chemicals, Inc.
• Nel ASA.
• Linde plc
• ProtonOnsite
• MVS Engineering Pvt. Ltd.
• Praxair Technology, Inc.
• LNI Swissgas Sr
• PerkinElmer Inc.
• EPOCH Energy Technology Corp