The Hydrogen Generators Global Market Report 2023 by The Business Research Company, provides hydrogen generators market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Hydrogen Generators Global Market Report 2023, the market size grew from $1.18 billion in 2022 to $1.3 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The hydrogen generators market size is expected to grow to $1.92 billion in 2027 at a CAGR of 10.1%.
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.
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The hydrogen generators market is segmented:
1) By Product Type: Onsite, Portable
2) By Process: Steam Reforming, Electrolysis, Other Processes
3) By Capacity: Less Than 300 W, 300W – 1 KW, More Than 1 KW
4) By Application: Chemical Processing, Fuel Cells, Petroleum Recovery, Refining, Other Applications
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 reported 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.
The hydrogen generators market report table of contents includes:
1. Executive Summary
2. Hydrogen Generators Market Characteristics
3. Hydrogen Generators Market Trends And Strategies
4. Hydrogen Generators Market – Macro Economic Scenario
5. Hydrogen Generators Market Size And Growth
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26. Africa Hydrogen Generators Market
27. Hydrogen Generators Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hydrogen Generators Market
29. Hydrogen Generators Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Epoch Energy Technology Corporation
- Air Products and Chemicals Inc
- Ideroenergy
- Proton OnSite
- Hy9 Corporation
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