Ocean View, Delaware, Jan. 10, 2017 (GLOBE NEWSWIRE) -- Global Hydrogen Generation Market share is forecast to cross USD 180 billion by 2024 owing to stringent government regulation towards Desulphurization of Petroleum Products; according to a new research report by Global Market Insights, Inc.
Strict regulatory norms to reduce sulfur content with measures to reduce the carbon footprint will drive the global hydrogen generation market size. U.S. federal and state governments have adopted various programs including the Tier 3 program to reduce the sulfur content in gasoline, motor oil, and diesel, which aims to lower the gasoline sulfur content up to 10 ppm in 2017.
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Growing demand for petroleum products from developing countries is anticipated to drive the hydrogen generation market size in the coming years. Hydrogen is used in various refining processes including hydrocracking and hydrodesulfurization to crack bigger molecules into lighter ones and converted into more usable products.
Strong investment for the expansion and upgrade of refineries to fulfill emission and sulfur content regulation will stimulate the hydrogen generation market size growth. Increasing heavy crude oil consumption demand will complement the industry landscape. Positive outlook towards the chemical industry including ammonia and methanol will positively influence growth.
Hydrogen generation market demand from the steam reformer process is predicted to witness growth at over 5% CAGR during the forecast period owing to low prices and easy availability of natural gas. In the steam methane reforming process, methane reacts with steam in the presence of catalyst under 3 bar to 25 bar pressure to produce H2, CO2 and CO.
Browse key industry insights spread across 117 pages with 224 market data tables & 11 figures & charts from the report, “Hydrogen Generation Market Size By Delivery Mode (Captive, Merchant), By Process (Steam Reformer, Electrolysis), By Application (Petroleum Refinery, Chemical, Metal), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Netherlands, Russia, China, India, Japan, Saudi Arabia, Iran, UAE, South Africa, Brazil, Argentina, Venezuela), Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hydrogen-generation-market
Key insights from the report include:
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Hydrogen Generation market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2013 to 2024, for the following segments:
Global Hydrogen Generation Market by Delivery Mode
Global Hydrogen Generation Market by Process
Global Hydrogen Generation Market by Application
The above information is provided on a regional and country basis for the following:
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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