PUNE, India, March 13, 2020 (GLOBE NEWSWIRE) --
Market Overview
Hydrogen generator is an equipment installed in order to create hydrogen. Technology for hydrogen generator varies with the choice of feedstock. An on-site hydrogen generator is attached directly in the designated application as per the unique requirement. A portable hydrogen generator is a hydrogen-powered unit that supplies temporary electric power. Several construction sites use portable hydrogen generators for offering power to electrical lights and tools at isolated sites. Hydrogen generators extend low-cost and reliable operations. Additionally, they ensure the safety concerns by eliminating hydrogen storage, routine hydrogen delivery, and cylinder handling. As per the reports published by Market Research Future, the hydrogen generator market is estimated to develop at 5% CAGR over the forecast period. Increased application of hydrogen over fossil fuel for power generation aiming to reduce the amount of carbon emission, coupled with the surged application of hydrogen in refinery, chemical, and oil & gas industry, is anticipated to accelerate the demand for hydrogen generator market. Furthermore, the risk associated with transportation and related secured storage infrastructure matters lead to supply interruptions. Factors such as inequal prices in the global trade of hydrogen collectively with current awareness regarding continued hydrogen supply is anticipated to restrict the growth of the hydrogen generator market.
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Market Segmentation
Market Research Future has conducted an exhaustive study on the global hydrogen generator market. In their reports the market has been segmented based on product, capacity, process, application, and region. Based on capacity, the market has been segmented into <100 Nm/h, 100-2000 Nm/h, and >2000 Nm/h. Based on product, the market has been segmented into onsite and portable. Based on region, the market has been segmented into North America, APAC, Europe, and the Rest of the World. Based on process, the market has been segmented into electrolysis and stream reformer. Based on application, the market has been segmented into fuel costs, petroleum recovery, refinery, and chemical processing.
Regional Analysis
The reports published by Market Research Future reveals that the global hydrogen generator market is mostly dominated by regions like North America, Europe, Asia Pacific, Middle East and Africa, and the Rest of the World. North America represents a key market share owing to its increasing need for power supply to various ongoing and upcoming projects. Additionally, the increasing awareness prevailing within the region regarding the negative impact of carbon emissions, has driven the demand for hydrogen generator in the North America market. Besides, the stringent government regulations and increasing steps to curtail the usage of fossil fuels, is also playing a significant role in driving the hydrogen generator market. Being a developed economy, North America has been witnessing significant development in sectors such as refinery, chemical, and oil & gas. These prospering industries are also responsible for propelling the market to a considerable extent. Asia Pacific market is estimated to witness an increased demand for hydrogen generators due to the presence of promising economies such as China and India. The vast population in these countries coupled with the increasing per capita income, is likely to drive the market for hydrogen generators to a large extent. The expanding population is fueling the need for increased power supply which in turn is estimated to surge the demand for hydrogen generators. Moreover, the low cost and reliable operations collectively with ensured safety concerns make hydrogen generator a popular alternative for power supply.
Key Players
The global hydrogen generator market is dominated by key players such as Air Products and Chemicals, Inc. (U.S.), Air Liquide S.A. (France), LNI Swissgas SA (Switzerland), Epoch Energy Technology Corporation (Taiwan), Idroenergy S.R.L. (Italy), Hydrogenics-Corporation (Canada), McPhy Energy S.A. (France), Linde AG (Germany), Praxair, Inc. (U.S.), and Proton OnSite (U.S.).
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Hydrogen Generation Market Research Report: Information by Generation and Delivery Type (Captive, Merchant), Storage (On-board, Underground, Power-to-Gas), Application (Petroleum Refinery, Ammonia Production, Power generation, and others), and Region – Global Forecast till 2023
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