New York, March 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hydrogen Generators Global Market Report 2022" - https://www.reportlinker.com/p06244971/?utm_source=GNW
Ltd., Nuvera Fuel Cells LLC, MVS Engineering Pvt. Ltd., Teledyne and Helbio S.A.
The global hydrogen generators market is expected to grow from $1.05 billion in 2021 to $1.13 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.40 billion in 2026 at a CAGR of 5.5%.
The hydrogen generators market consists of sales of hydrogen generators by entities (organizations, sole traders, and partnerships) that produce hydrogen from water using an electrolysis process.A proton exchange membrane (PEM) is used in a hydrogen generator to produce high-quality hydrogen gas from water.
Hydrogen generators can be either hydrogen-powered or hydrogen-producing machines.
The main types of products in hydrogen generators are onsite and portable.The onsite hydrogen generators allow for easy installation and fast start-up with unattended operation.
The different processes used in the hydrogen generator are steam reforming, electrolysis, others and operate in various capacities such as less than 300 W, 300 W to 1 KW, more than 1 KW. The hydrogen generators are used in chemical processing, fuel cells, petroleum recovery, refining, and others.
North America was the largest region in the hydrogen generators market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Government regulations over greenhouse gas emissions are expected to propel the growth of the hydrogen generators market going forward.Global greenhouse gas emissions are increasing, mainly due to fossil fuel consumption and industrialization.
Hydrogen generators are being developed by major companies because they produce hydrogen by electrolysis, which produces zero greenhouse gas emissions. For instance, according to the United States Environmental Protection Agency, in 2019, U.S. greenhouse gas emissions summed up to 6,558 million metric tons of carbon dioxide equivalents, or 5,769 million metric tons of carbon dioxide equivalents after accounting for sequestration from the land sector. The enormous increase in the emission of carbon dioxide constituted 80% alone in the United States. Hence, Government and environmental organizations are strengthening regulations to control greenhouse gas emissions which drives the hydrogen generators market.
Large-scale investments in research and development are shaping the hydrogen generators market.Individual companies from different industries are increasingly focused on incorporating hydrogen into their long-term strategies, and the market has seen a range of joint venture (JV) collaborations across all industries.
For instance, according to Sullivan & Cromwell, a US-based law company report in 2020, funding for hydrogen technology research and pilot projects has increased significantly in the past five years, especially in Europe and Asia.The EU is expected to implement an ambitious hydrogen research program through its “Horizon Europe” initiative and the “European Partnership” for hydrogen research to address "market failure for first-movers".
These initiatives can lower the barriers to entry for first-mover companies and support the expansion efforts of vehicle manufacturers and infrastructure developers. In addition, for larger-scale generation, turbine makers Mitsubishi and Ansaldo are working on hydrogen-powered turbines, and Siemens has committed to making all of its gas turbines hydrogen-powered by 2030.
In January 2019, Air Liquide, a France-based industrial gases company acquired Hydrogenics Corporation for $20.5 million. This acquisition allows the Air Liquide company to confirm its long-term commitment to the hydrogen energy markets, as well as its ambition to become a major player in the supply of carbon-free hydrogen, particularly in the industrial and mobility sectors. Hydrogenics Corporation is a Canada-based developer and manufacturer of hydrogen generation and fuel cell systems based on proton exchange membrane and water electrolysis technology.
The countries covered in the Hydrogen Generators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06244971/?utm_source=GNW
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