Global hydrogen generator market is expected to foresee significant growth. North America to lead the growth!
- Vikas Kumar
- October 11, 2021
- ENERGY & POWER, NEWS
- Hydrogen generator market, Hydrogen generator market Growth, Hydrogen generator market news, Hydrogen generator market Share, Hydrogen generator market Size, Hydrogen generator market Trend
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Global hydrogen generator market was stood around US$1.5 billion in 2020 and is expected to expand at a reasonable CAGR of above 5% during the forecast period (2021-2027). Ever growing industrial sector paired with rising support of government policies to promote hydrogen increasing the adoption of hydrogen. This would increase the demand for hydrogen generator.
Supporting government regulations are predicted to propel the growth of the hydrogen generator market during the forecast period. In addition, majority of population is shifting towards alternate sources of energy that may further increase the demand for hydrogen. Further, this would propel the growth of the hydrogen generator market. However, production of pure hydrogen releases a lot of carbon dioxide mounting to environmental pollution. Therefore, growing production of green hydrogen is observed which uses electrolysis. Hence, adoption of hydrogen generator which are based on electrolysis method to produce hydrogen is expected to remain high across North America and Europe during the forecast period.
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During the Covid-19 pandemic in the early 2020, majority of the countries and region witnessed a country wide lockdown. This has impacted the overall demand for hydrogen gas. Globally countries witnessed economic slowdown. Majority of decline was witnessed in the industrial sector, where countries had imposed shut down of manufacturing facilities to reduce the spread of Covid-19. All these factors affected the hydrogen generator market in a negative way.
- Based on product type, the market is bifurcated into onsite and portable generators. Of both, onsite generator occupies the prominent market share in 2020. However, with rising demand of hydrogen-based fuel cell vehicles, the demand of portable power generator would increase as it can produce on demand hydrogen anywhere.
- Based on application, the market is divided into laboratory and industrial sector. Among these, industry category held the significant share in the market and is expected to showcase significant growth during the forecast period.
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For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. North America held the significant share in the market owing to significant demand of hydrogen from hydrogen powered electric vehicles and rising demand of hydrogen in laboratories and industrial sector. In addition, the development of supportive infrastructure such as hydrogen refueling stations is anticipated to drive the hydrogen generator market in the region. Further, due to decreasing cost of renewable energy across the globe, particularly in solar photovoltaics and wind energy population is taking more interest in electrolytic hydrogen.
Global Hydrogen Generator Market Segmentation
Market Insight, by Product Type
Market Insight, by Application
Market Insight, by Capacity
- 1W – 100W
- Above 100W – 300W
- Above 300W – 700W
- Above 700W – 1KW
- Above 1KW – 3KW
- Above 3KW
Market Insight, by Process
- Steam Reforming
Market Insight, by Region
- North America Hydrogen Generator Market
- United States
- Rest of North America
- Europe Hydrogen Generator Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Hydrogen Generator Market
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Air Liquide S.A.
- Air Products and Chemical Inc.
- Nel Hydrogen
- Linde AG
- Proton On-site Inc.
- Hy9 Corporation
- Cummins Inc.
- Epoch Energy Technology Corporation
- MVS Engineering Pvt. Ltd.
- McPhy Energy S.A.