Hydrogen Generator Market is projected to grow at a CAGR of 5%
Category: #energy-and-environment  By Rahul Sankrityayan  Date: 2020-02-14
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Hydrogen Generator Market is projected to grow at a CAGR of 5%

Decresearch added a new report on global Hydrogen Generator Market to its research database. The report focuses on global major leading players with information such as company profiles, growth, product segment, technology segment, end user segment and region.

The size of Hydrogen Generator Market was registered at USD 800 million in the year 2015 and is anticipated to cross USD 1.32 million by 2024. Between the period 2016 -2024, the Hydrogen Generator Market is expected to register a CAGR of 5%.The overall Hydrogen Generator Market delivers an in-depth systematic framework and competitive outlook of the Hydrogen Generator market from a worldwide perspective. The report starts with a summary of the market, chain structure, and the past as well as current market size. Also, the growth opportunities prevalent in the market in the coming years, demand and lack, restraints, as well as the numerous contenders are given.

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The research study presents the historical data which evaluates a set of analytical tools such as Porter’s Five Force analysis, pricing analysis, regulatory evaluation, and supply chain analysis. It also offers an in-depth assessment of the top-line vendors as well as the remuneration and cost-profit analysis.

The Hydrogen Generator Market report delivers a detailed decade long pre-historic and forecast for the sector and also involves data on socio-economic scenario. Key stakeholders will be able to analyse the statistics and the tables and figures given in the report for strategic planning that will help lead to the success of the organization.

Process Overview
Global hydrogen generator market is segmented into different processes like electrolysis process and steam reformer electrolysis.Electrolysis process segment is predicted to register CAGR of more than 5.1%. In this procedure, hydrogen is produced by separating water molecule. Rising demand for renewable and clean energy sources like water is predicted to enhance process demand.

Steam reformer electrolysis segment contributed more than $631 million for 2015. The method produces hydrogen from hydrocarbon fuels like natural gas that comprises methanol and methane. Increasing hydrogen demand in chemical production and processing is predicted to fuel process demand.

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Application Overview
Global hydrogen generator industry is segmented into various applications like refinery, chemical processing, fuel cell and petroleum recovery.Refinery application segment is predicted to touch $121 million mark by end of 2024. Enhanced use of hydrogen in crude oil processing is predicted to propel hydrogen generator market trend for this application.

Chemical processing segment contributed more than $481 million for 2015. Rising hydrogen demand across various chemical processes is predicted to fuel industry expansion during forecast timeline.Fuel cell application segment is predicted to experience more than 6.1% CAGR. Rising demand in transport sector as well as residential sector due to low emissions and minimal functional costs can drive industry growth.

Regional Overview

Global industry is segmented into key geographical regions like North America, Latin America, MEA, Europe and APAC.North America, led by Canada and U.S. hydrogen generator market share, contributed more than $301 million for 2015. Rising consciousness towards clean fuel for transport coupled with heavy demand in power plants and refueling stations is predicted to enhance industry development. Further, discovery of shale gas in the region is predicted to supplement industry expansion for refinery application.

APAC, led by South Korea and Japan hydrogen generator market share, is predicted to register CAGR of more than 6.1%. Rising application of hydrogen generator in refineries due to improved demand for petroleum items along with strict rules in region is predicted to promote industry expansion.

Competitive Overview
Key industry participants profiled in the report include Epoch Energy Technology Corporation, Airgas Incorporation, Hydrogenics Corporation, Air Liquide SA, Linde AG, Air Products & Chemicals Incorporation, McPhy Energy SA, Idroenergy, Hy9 Corporation, Praxair Incorporation and ParkarBalston.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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