Hydrogen Generator Market: Current Analysis and Forecast (2023-2030)

Report Description

The Hydrogen Generator Market was valued at USD 150 billion in 2022 & is expected to grow at a CAGR of 7% from 2023-2030. The hydrogen generator market has witnessed significant growth in recent years due to the increasing application. A hydrogen generator is a device that is used to generate hydrogen gas by hydrolysis of water using techniques like electrolysis and steam reforming. The rise in awareness of hydrogen in oil & gas, refinery, automotive, and chemical industries is expected to drive the market. The capability of a hydrogen generator to produce gas on demand with purity of hydrogen gas being constant makes it a convenient, safe, and cost-effective alternative to high-pressure hydrogen cylinders. Factors such as owing to the rising fueling of vehicles with hydrogen. Rising awareness for green fuel among the population and an increase in demand for energy has driven the growth of electrolysis process-based hydrogen generators. Although it is an expensive process, the government is supporting the organizations in research and development and innovating new technologies to reduce the cost of the same. For instance, in 2022, California had set a goal of 250,000 charging stations and increased the sale of electric vehicle sale to triple in the next three years to 35% by 2025.

Some of the major players operating in the market include Air Liquide; Air Products and Chemicals, Inc.; Nel ASA.; Linde plc; ProtonOnsite; MVS Engineering Pvt. Ltd.; Praxair Technology, Inc.; LNI Swissgas Sr; PerkinElmer Inc.; and EPOCH Energy Technology Corp. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst product type, on-site segment held the majority share of the market revenue”

Based on the product type, the market is segmented into on-site and portable generators. In 2022, the on-site segment held the majority share of the market revenue. An on-site hydrogen generator is a device that produces hydrogen gas on-site, typically for use in fuel cells or other applications. On-site generators produce hydrogen gas directly at the point of use, eliminating the need for costly and logistically challenging transportation of hydrogen. This can also reduce the environmental impact of hydrogen production and transportation, as it can help to reduce greenhouse gas emissions and other pollutants associated with transportation. Additionally, on-site generators can be customized to meet the specific needs of individual applications, allowing for greater flexibility and efficiency in the use of hydrogen fuel cells.

“Amongst capacity, 100-2000 Nm3/h segment is expected to grow significantly during the forecast period”

Based on capacity, the market segmentation includes <100 Nm3/h, 100-2000 Nm3/h and >2000 Nm3/h. The 100-2000 Nm3/h segment is expected to grow significantly during the forecast period. The capacity of a hydrogen generator is the amount of hydrogen gas it can produce per hour. The capacity range is suitable for a wide range of applications, including fuel cells for transportation, industrial processes, and energy storage. Moreover, this capacity range is cost-effective, as it allows for the efficient production of hydrogen gas without the need for large, expensive infrastructure. This capacity range is scalable, as it allows for the easy expansion or reduction of production capacity as needed.

“Asia Pacific to grow with high CAGR during the forecast period”

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.

Hydrogen Generator Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global hydrogen generator market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Hydrogen Generator Market (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of hydrogen generator market were the three major steps undertaken to create and analyze the adoption of hydrogen generator in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the hydrogen generator market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the hydrogen generator market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the hydrogen generator market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report such as product type, capacity, process, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the hydrogen generator market. Further, we conducted factor analysis using dependent and independent variables such as product type, capacity, process, and application of the hydrogen generator market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the hydrogen generator market across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the hydrogen generator market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the hydrogen generator market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the hydrogen generator market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the hydrogen generator market. The data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, mobility, application, and end user in hydrogen generator market.

The main objective of the hydrogen generator market study

The current & future market trends of the hydrogen generator market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the hydrogen generator market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the Product type, Capacity, process, and application
• Define and analysis of the regulatory framework for the hydrogen generator industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the hydrogen generator market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the hydrogen generator market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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