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2021

Hydrogen Generator Market

Hydrogen Generator Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, Process, Capacity and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030

EP : Equipment and Devices

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Author's: Prakhar Jain | Eswara Prasad
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Hydrogen Generator Market Overview - 2030

The global hydrogen generator market size was valued at $1.2 billion in 2020, and hydrogen generator market forecast to reach $2.2 billion by 2030, growing at a CAGR of 5.8% from 2021 to 2030. 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. 

Rise in awareness among people regarding eco-friendly and zero-emission vehicles led to innovation of hydrogen vehicles. These vehicles are powered by electricity produced from mixing of hydrogen and oxygen (fuel cell). Rise in demand for fuel cells in the automobile industry creating enormous hydrogen generator market opportunities across the globe.  Chemical processing is also one of the end use applications, where hydrogen is used extensively to produce various chemical products. Rise in demand for various ammonia fertilizers across the globe is an important factor for growth of hydrogen in this segment. This increase in demand is expected to have a positive impact on large-scale hydrogen generator devices. Increase in population and need for various chemical raw materials in various industries provide opportunities for growth of the hydrogen generator industry in this sector. Hydrogen is used in refineries to lower Sulphur content in diesel fuels and produce some by-products where hydrogen is used as a catalyst to form naphtha into higher value octane products. Partial oxidation process is a process in which hydrogen is produced from refining heavy oil, which can reduce pollution of fuels. Rise in awareness among people regarding greenhouse gases and increase in demand for energy and fossil fuels have driven growth of the electrolysis process-based hydrogen generators. Around 4% of global hydrogen production came from electrolysis in 2020, which is around 8GW. Rapid development in various technologies and electrical efficiency of these hydrogen generators is also one of the important factors for growth of this kind of hydrogen production process.

Hydrogen-Generator-Market-2021-2030

Hydrogen energy storage is more expensive than fossil fuels due to its higher density as an energy transporter compared to gaseous hydrogen and involves liquefaction. This storage process involves complex mechanical plant, which increases the overall cost of hydrogen storage. This is one of the reasons that restrain the hydrogen generator market growth. 

Hydrogen Generator Market
By Product Type
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Onsite segment is projected to create abundant $ opportunity till 2030

The global hydrogen generator market is segmented on the basis of product type, process, capacity, application, and region. 

Hydrogen Generator Market
By Process
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Steam Reforming is projected as the most lucrative segment.

On the basis of product type, the global hydrogen generator market is segmented into onsite and portable. On the basis of process, it is segmented into steam reforming, electrolysis, and others. On the basis of capacity, it is divided into less than 300 W, 300W–1 KW, and more than 1 KW. By application, it includes chemical processing, fuel cells, petroleum recovery, refining, and others.

Hydrogen Generator Market
By Capacity
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More than 1 KW is projected as the most lucrative segment.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific. 

Hydrogen Generator Market
By Application
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Chemical Processing is projected as the most lucrative segment.

The major companies profiled in this report include Air Liquide Air Products and Chemical Inc., Praxiar technology Inc., Linde AG., Proton On-site Inc., Hy9 Corporation, Hydrogenics Corporation, Epoch Energy Technology Corporation, MVS Engineering Pvt. Ltd., McPhy Energy SA, and Nel Hydrogen.    

Hydrogen Generator Market
By Region
2030
Asia Pacific 
North America
Europe
LAMEA

North America holds a dominant position in 2020

Key findings of the study

  • As per hydrogen generator market analysis, Asia-Pacific hydrogen generator market is projected to grow at the highest CAGR of around 7.2%, in terms of revenue, during the forecast period.
  • As per hydrogen generator market trends, by product type, the onsite segment accounted for the largest market share in 2020.
  • By capacity, the more than 1KW segment accounted for the largest market share in 2020.
  • By application, the processing segment accounted for the largest market share in 2020.
  • By process, the steam reforming segment accounted for the largest market share in 2020.

Impact Of Covid-19 On The Global Hydrogen Generator Market

  • Emergence of COVID-19 situation has mixed effects toward growth of the global hydrogen generator market for a short period.
  • The pandemic also brought a negative impact on the automotive industry, which led to decline in demand for passenger vehicles. The dramatic economic fall due to the pandemic situation led to postponing of consumers from adopting large scale hydrogen fuel vehicles, owing to the cost compared to fossil fuel vehicles.
  • Shutdown of various industry production facilities led to decline in demand for electricity. The primary requirement for production of hydrogen is to generate energy. This is one of the reasons for decline of hydrogen production.
  • Demand for continuous energy in hospitals during the pandemic has driven demand for hydrogen fuel cells. These fuel cells provide energy for operating rooms, vital machines, and other hospital equipment. Effectiveness of these hydrogen fuel cells has increased demand for the hydrogen generator market.

Key Market Segments

By Product type

  • Onsite 
  • Portable

By Process

  • Steam reforming
  • Electrolysis
  • Others

By Capacity 

  • Less than 300 W
  • 300W - 1 KW
  • More than 1 KW

By Application

  • Chemical processing
  • Fuel cells
  • Petroleum recovery
  • Refining 
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Russia
    • Spain
    • Netherlands
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Hydrogen Generator Market Report Highlights

Aspects Details
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By Product type
  • Onsite
  • Portable
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By Process
  • Steam reforming
  • Electrolysis
  • Others
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By Capacity
  • Less than 300 W
  • 300W - 1 KW
  • More than 1 KW
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By Application
  • Chemical processing
  • Fuel cells
  • Petroleum recovery
  • Refining
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

Praxair technology Inc., MVS Engineering Pvt. Ltd., Epoch Energy Technology Corporation, Cummins Inc., McPhy Energy SA, Air products and chemicals Inc., Hy9 Corporation, Linde AG., Proton on-site Inc., Air-liquide, NEL Hydrogen

Analyst Review

The global hydrogen generator market is expected to gain high traction during the forecast period, owing to government regulations over restricting use of greenhouse gas emission products.

Low cost of traditional power generators and high initial investment costs of hydrogen generator are expected to hamper growth of the hydrogen generator market during the upcoming years. However, rapidly increasing electricity demand, government policies toward use of green energy, and development of various eco-friendly hydrogen production technologies are some of the key factors expected to drive demand for the hydrogen generator market during the forecast period. In addition, investments of government bodies and various policies to innovate various products based on hydrogen fuel cells as an energy source and to create synthetic fuels using hydrogen, nitrogen, and carbon as raw materials have also created opportunities for growth of hydrogen generator market.

The outbreak of the novel coronavirus gave new insights to various countries over the environment and need for their own power supply without depending on imports of fossil fuels from other countries. This has led to popularization of hydrogen fuel cells in various developing and developed countries due to their renewability and ecofriendly nature.

Moreover, companies are inheriting partnership and acquisition strategies to support growth of the hydrogen generator market. Presently, the chemical processing segment holds the largest market share in the global hydrogen generator market.

Author Name(s) : Prakhar Jain | Eswara Prasad
Frequently Asked Questions?

Onsite segment accounted for largest hydrogen generator market share.

Major applications of hydrogen generators include chemical processing, fuel cells, petroleum recovery, refining etc.

To get latest version of hydrogen generator market report can be obtained on demand from the website.

Companies are inheriting partnership and acquisition strategies to support the growth of the hydrogen generators market throughout the forecast period.

Asia Pacific significantly China and India will provide more business opportunities for hydrogen generators market in coming years

The top ten market players are selected based on two key attributes - competitive strength and market positioning

Government regulations over the greenhouse gas emissions and desulfurization, increasing demand for energy storage and hydrogen powered electric vehicles are the key factors driving the growth of hydrogen generator market

Air Liquide Air Products and Chemical Inc., Praxiar technology Inc., Linde AG., Proton On-site Inc., Hy9 Corporation, Hydrogenics Corporation, Epoch Energy Technology Corporation, MVS Engineering Pvt. Ltd., McPhy Energy SA, and Nel Hydrogen.

Development of various eco-friendly hydrogen production technologies is a key trend expected to create increased growth opportunities throughout the forecast period.

The expected market value of hydrogen generators by 2030 is US$ 2.2 billion

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Hydrogen Generator Market

Global Opportunity Analysis and Industry Forecast, 2021-2030