Scienza e Tecnologia
Hydrogen Generation Market to Reach $262.0 Bn, Globally, by 2031 at 6.8% CAGR: Allied Market Research
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The ongoing unprecedented revolutions to achieve net-zero emissions and rise in investments by the governments toward different technologies to improve the efficiency of hydrogen extraction drive the growth of the global hydrogen generation market. However, stringent regulations on emissions restrain the market growth. On the other hand, increase in adoption from the chemicals and oil & gas industry along with rapid globalization & industrialization present new opportunities in the coming years.
Based on source, the gray hydrogen segment accounted for the largest market share in 2021, contributing to nearly two-thirds of the global hydrogen generation market, and is estimated to maintain its leadership position throughout the forecast period. This is due to rapid globalization, industrialization, and increase in utilization of hydrogen in fuel cell operated vehicles along with surge in demand for gray hydrogen in the chemical industry for producing of various chemicals such as ammonia and methane. However, the green hydrogen segment is expected to manifest the largest CAGR of 7.6% from 2022 to 2031. This is due to its ability to reduce carbon emissions and contribution toward meeting rising demand for energy across the globe.
Based on process, the steam methane reforming segment contributed to the highest market share in 2021, accounting for more than three-fifths of the global hydrogen generation market, and will continue its leadership in terms of revenue throughout the forecast period. This is attributed to abundance of fossil fuel resources in the Middle-east and African countries. The report also analyzes the segments including coal gasification, electrolysis, and others.
Based on delivery mode, the captive segment held the highest market share in 2021, accounting for nearly four-fifths of the global hydrogen generation market, and will continue its leadership in terms of revenue throughout the forecast period. This is attributed to rise in demand for hydrogen in the production of variety of the chemicals and petroleum industry for refining crude oil. However, the merchant segment is estimated to witness at the largest CAGR of 7.3% from 2022 to 2031.
Based on application, the chemical processing segment accounted for the largest market share in 2021, holding more than half of the global hydrogen generation market, and is estimated to continue its highest contribution throughout the forecast period. This is due to extensive usage of hydrogen for producing various chemical products and rise in demand for various ammonia fertilizers globally. The report also discusses the segments including transportation, petroleum recovery, power generation, and others.
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Based on region, Asia-Pacific held the largest market share in 2021, accounting for more than two-fifths of the global hydrogen generation market, and is projected to continue its dominant share throughout the forecast period. Moreover, this region is estimated to witness at the fastest CAGR of 7.3% from 2022 to 2031. This is attributed to significant number of megacities and ever-increasing population that raise the demand for various products in which hydrogen is widely used. The research also analyzes regions including North America ,
Europe , and LAMEA.
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