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Global Hydrogen Generation Market To Be Driven By Rising Demand Cleaner For Alternative Fuels In The Forecast Period Of 2021-2026
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The new report by Expert Market Research titled, 'Global Hydrogen Generation Market Report and Forecast 2021-2026', gives an in-depth analysis of the Global Hydrogen Generation Market, assessing the market based on its segments like product, application, end use and major regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/hydrogen-generation-market/requestsample
The key highlights of the report include:
Market Overview (2015-2026)
- Historical Market Size (2020): USD 128.7 trillion
- Forecast CAGR (2021-2026): 9.3%
- Forecast Market Size (2026): USD 219.2 trillion
The global Hydrogen Generation market grew steadily over the last few years, owing to rising energy demand, in confluence with the growing environmental concerns. This demand motivated the search for alternative, cleaner fuels, which led to the growth of the market in the historical period.
Industry Definition and Major Segments
Hydrogen is the most abundant element in industrial gases and is found in the atmosphere in a gaseous state. It is created by heating steam with natural gas. It can also be created using water electrolysis and other processes like biomass gasification. Hydrogen is a renewable energy source that can be used to generate power effectively. Its market is further divided into segments such as:
The market is divided based on source into:
- Gray Hydrogen
By technology, the market is divided into:
- Steam Methane Reforming
- Coal Gasification
- Partial Oxidation of Oil
- Electrolysis of Water
Based on system type, the industry can be segmented into:
On the basis of application, the industry can be categorized into:
- Methanol Production
- Petroleum Refinery
- Ammonia Production
- Power Generation
The regional market for Hydrogen Generation includes:
- North America
- latin america
- Middle East and Africa
Globally, Asia Pacific is one of the main markets for green technology adoption in order to satisfy government targets for lowering GHG emissions. Because of the commercial deployment of Japanese fuel cell micro-CHP devices, Japan and South Korea have been significantly investing in fuel cell adoption since 2009. Japan was the first country to commercialize fuel cells and is now funding initiatives involving the use of fuel cells in home and automotive applications. It intends to use green hydrogen on a large scale. Singapore, India, and Malaysia have also expressed interest and have recently launched or are about to launch exclusive programs to promote fuel cells in regional markets.
Global greenhouse gas emissions are increasing, primarily as a result of the use of fossil fuels and industrialization. Greenhouse gas emissions, such as carbon dioxide (CO2), nitrous oxide, and methane, are to blame for rising global temperatures, which have climbed by around 1° C since the last century. Decarbonization of industries is recognized as a key factor in reducing harmful environmental effects caused by industrial emissions. This can be accomplished by using hydrogen as an energy generator. As a result, this factor may aid the global hydrogen generation market in experiencing tremendous expansion during the forecast period.
Other factors influencing the growth prospects of the hydrogen generating market include the need for hydrogen in the transportation sector and the desulfurization of refinery operations. All of these reasons point to a hopeful future for the hydrogen generating market over the forecast period.
Key Market Players
The major players in the global market are Ally Hi-Tech Co., Ltd., Caloric Anlagenbau GmbH, Linde AG, FuelCell Energy, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
At Expert Market Research, we tailor our approach according to our clients' needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.
Company Name: Claight Corporation
Contact Person: Louis Wane, Corporate Sales Specialist – USA
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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