The Global Market for Hydrogen Generators is Projected to Exceed US$1.3 Billion by 2022
Stringent Government
Regulations to Curb Carbon Emissions to Drive Demand for Hydrogen Generators,
According to a New Report by Global Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global Hydrogen Generators
market. The global market for
Hydrogen Generators is projected to exceed US$1.3 billion by 2022, driven by stringent
government regulations on carbon emissions and the resulting adoption of hydrogen
as a clean fuel source.
Hydrogen
generators refer to units that are installed for production of hydrogen that
has for long been seen as a potential carrier of energy. Hydrogen gas
represents a major contender among the available options of ideal energy
resources which could be exploited for future energy needs of the world.
Hydrogen generators offer low cost and reliable hydrogen, and aid in increasing
safety and security of on-site energy generation. They also eliminate the need
for hydrogen cylinders, delivery, storage and handling, which require extreme
caution. Use of hydrogen generation units in chemical processing, petroleum
recovery, petroleum refining and fuel cells is expected to increase in the
coming years driven by stringent government legislations in the area of
environmental protection. In chemical processing industries hydrogen finds
application in ammonia and methanol processing. Another important application
for hydrogen is in fuel cells which are becoming increasingly popular as a form
of electricity and heat source in commercial and building sectors across the
world.
Demand
for hydrogen generators is driven by growing awareness over the benefits of adopting
cleaner fuel sources, growing electricity demand, rapid fossil fuel depletion
and stringent regulatory norms pertaining to carbon emissions. Further,
expanding use of hydrogen gas in the chemical, refinery, and oil & gas
sectors will support demand in the market. Electric vehicles of the future
integrated with fuel
cells (FCEVs) are expected to emerge as a great low-carbon
substitute to passenger vehicles which currently use conventional fuels.
Hydrogen also has the potential to become a vital energy source in cogeneration
and microgeneration. With cost optimization gaining focus in the power sector,
hydrogen generators are gaining popularity as a viable solution to save costs
and improve efficiency. Noise-free, high power and eco-friendly features of
hydrogen generators are expected to positively
impact demand.
As
stated by the new market research report on Hydrogen Generators, the United States
represents the largest market worldwide. Asia-Pacific is forecast to emerge as
the fastest growing market with a CAGR of 6.2% over the analysis period, led by
factors such as positive macro-economic cues, increase in manufacturing plants
and facilities in emerging Asian countries that utilize hydrogen, growing
importance of hydrogen based fuel cell vehicles, and favorable government
policies to curb greenhouse emissions. Onsite hydrogen generators are projected
to retain their dominance, primarily due to cost efficiency benefits.
Major
players in the market include Air Liquide S.A., Air Products and Chemicals
Inc., Deokyang Co. Ltd., EPOCH Energy Technology Corporation, Hydrogenics
Corporation, Idroenergy, ITM Power Plc, McPhy Energy S.A., Messer Group, Nuvera
Fuel Cells LLC, Praxair Inc., Proton OnSite, and The Linde Group, among others.
The
research report titled "Hydrogen Generators: A
Global Strategic Business Report" announced by Global Industry Analysts Inc.,
provides a comprehensive review of market trends, drivers, mergers,
acquisitions and other strategic industry activities. The report provides
market estimates and projections for all major geographic markets such as the
US, Canada, Europe, Asia-Pacific and Rest of World. Product types analyzed
include On-Site Hydrogen Generators, and Portable Hydrogen Generators.
Application segments analyzed in the report include Fuel Cells, Petroleum,
Chemicals, and Other Applications.
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enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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