+1-888-308-5802     
News Contact Us

Hydrogen Generation Market Competitive Dynamics & Global Outlook 2024

Author : Rahul Sankrityayan | Published Date : 2019-07-12 

Global Market Insights, Inc. present the report on Hydrogen Generation Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2016-2024.

Global Hydrogen Generation Market is expected to grow at over 5% CAGR to surpass USD 186 billion by 2024. Increasing residual processing demand along with stringent specification for cleaner fuel will stimulate the industry growth. Government has introduced several regulations including Tier 3 under the Gasoline Sulfur Fuel program to curb sulfur emission. The aim of the program is to ensure that gasoline sulfur content should not be more than 10 ppm.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1107

Ability to crack long chain hydrocarbon into shorter chains to form value added products during refinery process including hydrodesulphurization and hydrocracking will make its adoption favorable.

Growing investment towards the expansion and upgradation of refinery to meet the sulfur emission regulations will stimulate the hydrogen generation market share. In 2017, Exxon Mobil announced to invest USD 20 billion to expansion of refining and chemical plants on the U.S. gulf coast by 2020. Increasing petroleum product consumption demand will further complement the business growth. In 2017, the gasoline demand increased from 210,000 bpd to 9,312,000 bpd.

Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1107

Growth drivers

  • Increasing demand for clean fuel energy
  • Stringent government regulation towards Desulphurization of Petroleum Products
  • Deteriorating crude oil quality

Industry pitfalls & challenges

  • Transportation & Storage Issues

Positive outlook towards metal and chemical industry including ammonia and methanol will propel the hydrogen generation market. Increasing demand for metal ore reduction product from metal industry will favor the industry landscape.

Low price and ease availability of natural gas will positively impact the Steam reformer hydrogen generation market. Ability to produce H2 more efficiently i.e. 75% over other alternate will further complement industry growth. Electrolysis hydrogen generation market is predicted to witness grow over 6% by 2024. Ability to split H2O into oxygen and H2 will fuel the industry growth. The process is suitable for small scale distributed hydrogen production.

Metal application for 2015 was valued over USD 5 billion. Growing demand for steel from automobile and construction sector will propel the business growth.

U.S. hydrogen generation Market is predicted to witness growth over 4% by 2024. Rapid fossil fuel depletion along with increasing focus towards adoption of renewable resource to curb greenhouse gas emission will positively impact the industry growth. Escalating demand for ammonia from fertilizer industry will further complement the industry growth.

Renovation and expansion of refinery existing facility will favor the Venezuela hydrogen generation market share. In 2017, Venezuela and Jamaica signed an agreement of worth USD 1 billion for Petrojam Refinery Expansion Project. The expansion will increase refinery capacity from 30,000bpd to 50,000 bpd.

Growing demand for nitrogen rich fertilizers including urea, DAP, MAP will positively impact the China Hydrogen generation market over the forecast period.

Germany accounted for over 15% of Europe hydrogen generation market share in 2015. Growing chemical demand from food and construction industry will augment industry. In 2015, the chemical consumption was reached from USD 158.25 billion in 2014 to USD 170.13 billion.

Key participants in hydrogen generation market are Taiyo Nippon Sanso, Xebec Adsorption, Hydrogenics, Air Products and Chemicals, Nuvera Fuel Cells, Caloric Anlagenbau, Praxair Technology, Air Liquide, Messer Group, Iwatani Corporation, Linde and Showa Denko.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, 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 experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

Related News

Electric Submersible Pump Market Demand Analysis and Future Growth Predictions | Key Players Borets International Limited, Schlumberger Limited

Published Date: 2019-11-19         Author: Rahul Sankrityayan

Global Market Insights has recently published a study titled ‘Global Electric Submersible Pump Market Research Report’. In this report, analysts have provided a detailed evaluation of the global Electric Submersible Pump market. The report is inclusive of a completely comprehensive study... Read More

Digital Substation Market Outlook 2019 – Growth Drivers, Opportunities and Forecast Analysis to 2025

Published Date: 2019-11-19         Author: Rahul Sankrityayan

Global Market Insights has recently published a study titled ‘Global Digital Substation Market Research Report’. In this report, analysts have provided a detailed evaluation of the global Digital Substation market. The report is inclusive of a completely comprehensive study of the Digita... Read More

Energy Storage Systems Market Segmentation, Parameters and Prospects 2019 to 2025 Research Report

Published Date: 2019-11-19         Author: Rahul Sankrityayan

Global Market Insights has recently published a study titled ‘Global Energy Storage Systems Market Research Report’. In this report, analysts have provided a detailed evaluation of the global Energy Storage Systems market. The report is inclusive of a completely comprehensive study of th... Read More

© 2019 Fractovia. All Rights Reserved