Lucintel Forecasts Hydrogen Generation Market to Reach $XX Billion by 2028

According to the recent study the hydrogen generation market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 10% to 12% from 2023 to 2028. Growth in this market is primarily driven by increasing hydrogen consumption in fuel cell electric vehicles and strict regulation for hazardous gas emission.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in hydrogen generation market by source (blue hydrogen, green hydrogen, and grey hydrogen), technology (steam methane reforming (SMR), partial oxidation (POX), coal gasification, and electrolysis), delivery mode (captive, and merchant), application (petroleum refinery, ammonia production, methanol production, transportation, and power generation) and region (North America, Europe, Asia Pacific, and the Rest of the World).

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https://www.lucintel.com/hydrogen-generation-market.aspx

“Blue hydrogen market is expected to remain the largest segment during the forecast period.”

Based on source, the hydrogen generation market is segmented into blue hydrogen, green hydrogen, and grey hydrogen. Lucintel forecasts that the blue hydrogen market is expected to remain the largest segment because blue hydrogen is derived from natural gas through steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction creates hydrogen and carbon monoxide, and the cost of generating blue hydrogen is very low.

“Within the hydrogen generation market, the ammonia production segment is expected to remain the largest application.”

Based on application the ammonia production segment is expected to witness the highest growth over the forecast period due to rising government regulations in order to encourage desulphurization of fuels to conserve the environment, and ammonia’s potential as a carbon-free fuel, hydrogen carrier, and energy store represents an opportunity for renewable hydrogen technologies to be deployed at an even greater scale.

“Asia pacific will dominate the hydrogen generation market in near future.”

APAC will remain the fastest growing region due to the increase in fuel cell based electric vehicles in this region, hydrogen-based economy, and research activities and developments in the region targeting to reduce the cost of green hydrogen generation.

Download Brochure of this report by clicking on https://www.lucintel.com/hydrogen-generation-market.aspx.

Major players of hydrogen generation market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Air Liquide, Cummins, Linde, Air Products & Chemicals, Iwatani Corporation, ITM Power, NEL Hydrogen, Fuel Cell Energy, and Messer Group are among the major hydrogen generation providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/hydrogen-generation-market.aspx or helpdesk@lucintel.com.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com.

Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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