Hydrogen Generation Market

Hydrogen Generation Market Size, Share, and Growth Report by Source (Blue Hydrogen, Gray Hydrogen, Green Hydrogen), by Technologies (Steam methane reforming (SMR), Partial Oxidation (POX), Coal gasification, Electrolysis), by Application (Petroleum Refinery, Ammonia Production, Methanol Production, Transportation, Power Generation), by System Type (Captive, Merchant), Geography Analysis and Competitive Landscape: Premium Insights Industry Research, and Forecast From 2022 to 2030

Hydrogen Generation Market Overview

The global Hydrogen Generation Market size was valued at USD 147.48 billion in 2021 and is projected to reach USD 312.03 billion by 2028, growing at a CAGR of 11.3% during the forecast period.

The market is being majorly driven by the rising demand for hydrogen for fuel cell electric cars (FECV) and rockets in the aerospace sector. In addition, the use of hydrogen fuel cells in lightweight vehicles, including bicycles, automobiles, buses, trains, material handling equipment, boats, ships, commercial aircraft, auxiliary power units (APUs) of aircraft, marine vessels, and specialty vehicles like forklifts, is promoting market growth in the transportation industry.

COVID-19 Impact on Hydrogen Generation

The COVID-19 situation’s emergence has conflicting impacts on the short-term expansion of the world market for hydrogen generators. The pandemic also negatively affected the automobile sector, decreasing passenger car demand. Because hydrogen fuel vehicles are more expensive than fossil fuel vehicles, customers have put off adopting them on a big scale as a result of the extreme economic decline brought on by the pandemic crisis. In addition, the power demand fell due to the closure of several industrial manufacturing units. Energy production is the main prerequisite for hydrogen production. This is one of the causes of the drop in hydrogen generation.

On the other hand, hydrogen fuel cells are in high demand as a result of the pandemic’s need for constant energy in hospitals. The operating rooms, essential machinery, and other hospital equipment are all powered by these fuel cells. Due to this hydrogen fuel cells’ efficiency, there is more need for hydrogen generators.

Hydrogen Generation Market Segmentation

The global Hydrogen Generation Market is segmented on the basis of source (Blue Hydrogen Gray Hydrogen, Green Hydrogen), technologies (Steam methane reforming (SMR), Partial Oxidation (POX), Coal gasification, Electrolysis), by application (Petroleum refinery, Ammonia production, Methanol production, Transportation, Power generation), by generation and delivery mode (Captive, Merchant).

Gray hydrogen is expected to be the largest segment of the hydrogen generation market

The majority of the hydrogen produced today is grey hydrogen. Grey hydrogen, produced by the reformation of natural gas, is used to rearrange the molecular structure of hydrocarbons. Grey hydrogen production is less expensive than both blue hydrogen and green hydrogen. Compared to blue and green hydrogen, most of the market is covered by grey hydrogen.

The transportation segment is expected to be the fastest-growing market, by application, during the forecast years

The different application segments of the hydrogen generation market are the refinery, ammonia production, methanol production, transportation, and power generation. The market for hydrogen generation in 2021 is expected to experience the fastest growth in the transportation sector. The application segment is driving the need for hydrogen in the coming years as there is an increasing focus on decarbonizing the transportation industry.

Hydrogen Generation Market Dynamics

Drivers:

Extensive Research and Development (R&D) To Develop Green Hydrogen Production Technologies

Petroleum refineries and businesses that make fertilizer use the most hydrogen produced. Since it is the most dependable and economical process, fossil fuel reforming accounts for 99% of all hydrogen production. However, CO2 emissions make it bad for the environment. Electrolysis results in green hydrogen being produced. Creating green hydrogen involves electrolysis, which emits no carbon dioxide while separating water into hydrogen and oxygen. The decarbonization of the world is one of the goals that several governments have set for 2050. One of the essential components in attaining this goal is producing an element like hydrogen, which produces green hydrogen and accounts for more than 2% of global CO2 emissions today. For instance, the European Union (EU) unveiled a novel hydrogen policy in 2020 that combines actions to assist the rapid expansion of green hydrogen generation capacities. Florida Power & Light will operate a 20 MW green hydrogen station by 2023. This hydrogen will be used in a 20% blend at FP&L’s 1.75 gigawatts Okeechobee gas-fired facility.

Rising Focus on Achieving Net Zero Emission Target by 2050

Under the scenario of net zero emissions, hydrogen generation undergoes an unprecedented transformation. 70% of global production of H2 when it reaches 200 Mt in 2030 will come from low-carbon technology (electrolysis). Hydrogen production will have increased to 500 Mt H2 by 2050, primarily because of low-carbon technologies. To achieve net zero emissions by 2050, the energy system must be modified using several technologies. The main pillars for decarbonizing the global energy system are anticipated to include energy efficiency, behavioral modification, electrification, renewable energy, hydrogen, and hydrogen-based fuels, and carbon capture, utilization, and storage (CCUS).

According to the situation with net zero emissions, hydrogen and hydrogen-based fuels can avoid up to 60 Gt of CO2 emissions in the years 2021–2050, or 6.5% of all cumulative emissions reductions, thanks to solid growth in hydrogen demand and the adoption of cleaner technologies for their production. Moreover, in hard-to-decarbonize industries like heavy industry (mainly steel and chemical), heavy-duty road transport, shipping, and aviation, where direct electrification is complex, hydrogen fuel is especially crucial for reducing emissions.

Hydrogen Generation Market Regional Analysis

The Asia Pacific Hydrogen Generation Market is predicted to account for the largest market size during the forecast years.

The Asia Pacific is expected to account for the largest market size during the forecast period. The expansion of hydrogen-based economies and fuel cell-based electric vehicles are predicted to be the main drivers of market growth in the Asia Pacific region. China dominated the Asia Pacific hydrogen generation market. Refineries and fuel cell cars are increasing their demand for hydrogen in the nation, which is projected to fuel market expansion.

Key Market Players and Competitive Landscape

Some of the major key players operating in the Hydrogen Generation market are Linde plc (Ireland), Air Liquide (France), Cummins Inc. (US), Air Products Inc. (US), Uniper SE (Germany), Engie (France), Siemens (Germany), Nel ASA (Norway), ITM Power (UK), Ally Hi-Tech Co. Ltd. (China), Iberdrola, S.A. (Spain), Xebec Adsorption Inc. (Canada), McPhy Energy S.A. (France), Messer (Germany), Enapter S.r.l. (Germany), Ørsted A/S (Denmark), ThyssenKrupp AG (Germany), Iwatani Corporation (Japan), Green Hydrogen (Denmark), Plug Power Inc. (US), Starfire energy (US), Aquahydrex (US), EXYTRON (Germany), Electrochaea GmbH (Germany), Atawey (France), Hiringa Energy Limited (New Zealand).

This Hydrogen Generation Market Report categorizes the Hydrogen Generation Market as follows,

Hydrogen Generation Market by Source:

Blue Hydrogen
Gray Hydrogen
Green Hydrogen

Hydrogen Generation Market by Technologies:

Steam Methane Reforming (SMR)
Partial Oxidation (POX)
Coal Gasification
Electrolysis

Hydrogen Generation Market by Application:

Petroleum Refinery
Ammonia Production
Methanol Production
Transportation
Power Generation

Hydrogen Generation Market by System Type:

Captive
Merchant

Hydrogen Generation Market Regional Outlook

North America
- United States
- Canada
Europe
- United Kingdom
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa

Hydrogen Generation Market Report Scope
Report Attribute	Details
Market size value in 2022	USD 164.1 billion
Revenue forecast in 2028	USD 312.03 billion
Growth Rate	CAGR of 11.30 % from 2022 to 2028
Base year for estimation	2021
Historical data	2017 – 2021
Forecast period	2022 – 2028
Quantitative units	Revenue in USD billion and CAGR from 2022 to 2030
Report Coverage	Revenue forecast, company ranking, Trends competitive landscape, and growth factors
Segments Covered	Source, Technologies, Application, System Type, and Region
Regional scope	North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope	U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
Key companies profiled	Linde plc (Ireland), Air Liquide (France), Cummins Inc. (US), Air Products Inc. (US), Uniper SE (Germany), Engie (France), Siemens (Germany), Nel ASA (Norway), ITM Power (UK), Ally Hi-Tech Co. Ltd. (China), Iberdrola, S.A. (Spain), Xebec Adsorption Inc. (Canada), McPhy Energy S.A. (France), Messer (Germany), Enapter S.r.l. (Germany), Ørsted A/S (Denmark), ThyssenKrupp AG (Germany) and others

Table of Content

Hydrogen Generation Market Size, Share, Growth, and Forecast Report

1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Source
1.4.2. Technologies
1.4.3. Application
1.4.4. System Type

2. Hydrogen Generation Market Overview
2.1. Introduction
2.2. Analysis by Source, 2016-2028 (US$ Billion)
2.3. Analysis by Technologies, 2016-2028 (US$ Billion)
2.4. Analysis by Application, 2016-2028 (US$ Billion)
2.5. Analysis by System Type, 2016-2028 (US$ Billion)
2.6. Market Analysis by Region, 2016-2028 (US$ Billion)

3. Hydrogen Generation Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Sources
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Source
3.6.2. Technologies
3.6.3. Application
3.6.4. System Type
3.6.5. Region
3.7. Value Chain Analysis

4. Hydrogen Generation Market Competition Analysis
4.1. Hydrogen Generation Market Share Analysis by Company, 2019 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion, and Distribution

5. Global Hydrogen Generation Market Analysis by Source and Application, 2016-2028 (US$ Billion)
5.1. Source
5.1.1. Global Hydrogen Generation Market Share, by Source, 2021 and 2028
5.1.2. Global Hydrogen Generation Market Revenue, by Source, 2016-2028 (US$ Billion)
5.1.3. By Blue Hydrogen Market Analysis 2016-2028 (US$ Billion)
5.1.4. By Gray Hydrogen Market Analysis 2016-2028 (US$ Billion)
5.1.5. By Green Hydrogen Market Analysis 2016-2028 (US$ Billion)
5.2. Technologies
5.2.1. Global Hydrogen Generation Market Share, by Technologies, 2021 and 2028
5.2.2. Global Hydrogen Generation Market Revenue, by Technologies, 2016-2028 (US$ Billion)
5.2.3. By Steam Methane Reforming (SMR) Market Analysis 2016-2028 (US$ Billion)
5.2.4. By Partial Oxidation (POX) Market Analysis 2016-2028 (US$ Billion)
5.2.5. By Coal Gasification Market Analysis 2016-2028 (US$ Billion)
5.2.6. By Electrolysis Market Analysis 2016-2028 (US$ Billion)
5.3. Application
5.3.1. Market Share, by Application, 2021 and 2028
5.3.2. Market Revenue, by Application, 2016-2028 (US$ Billion)
5.3.3. By Petroleum Refinery Market Analysis 2016-2028 (US$ Billion)
5.3.4. By Ammonia Production Market Analysis 2016-2028 (US$ Billion)
5.3.5. By Methanol Production Market Analysis 2016-2028 (US$ Billion)
5.3.6. By Transportation Market Analysis 2016-2028 (US$ Billion)
5.3.7. By Power Generation Market Analysis 2016-2028 (US$ Billion)
5.4. System Type
5.4.1. Global Hydrogen Generation Market Share, by System Type, 2021 and 2028
5.4.2. Global Hydrogen Generation Market Revenue, by System Type, 2016-2028 (US$ Billion)
5.4.3. By Captive Market Analysis 2016-2028 (US$ Billion)
5.4.4. By Merchant Market Analysis 2016-2028 (US$ Billion)

6. Global Hydrogen Generation Market Source Analysis by Region, 2016-2028 (US$ Billion)
6.1. Blue Hydrogen Market Analysis 2016-2028 (US$ Billion)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Gray Hydrogen Market Analysis 2016-2028 (US$ Billion)
6.3. Green Hydrogen Market Analysis 2016-2028 (US$ Billion)

7. Global Hydrogen Generation Market Technologies Analysis by Region, 2016-2028 (US$ Billion)
7.1. Steam Methane Reforming (SMR) Market Analysis 2016-2028 (US$ Billion)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Partial Oxidation (POX) Market Analysis 2016-2028 (US$ Billion)
7.3. Coal Gasification Market Analysis 2016-2028 (US$ Billion)
7.4. Electrolysis Market Analysis 2016-2028 (US$ Billion)

8. Global Hydrogen Generation Market Application Analysis by Region, 2016-2028 (US$ Billion)
8.1. Petroleum Refinery Market Analysis 2016-2028 (US$ Billion)
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Latin America
8.1.5. Middle East & Africa
8.2. Ammonia Production Market Analysis 2016-2028 (US$ Billion)
8.3. Methanol Production Market Analysis 2016-2028 (US$ Billion)
8.4. Transportation Market Analysis 2016-2028 (US$ Billion)
8.5. Power Generation Market Analysis 2016-2028 (US$ Billion)

9. Global Hydrogen Generation Market System Type Analysis by Region, 2016-2028 (US$ Billion)
9.1. Captive Market Analysis 2016-2028 (US$ Billion)
9.1.1. North America
9.1.2. Europe
9.1.3. Asia Pacific
9.1.4. Latin America
9.1.5. Middle East & Africa
9.2. Merchant Market Analysis 2016-2028 (US$ Billion)

10. Hydrogen Generation Market Analysis by Geography, 2016-2028 (US$ Billion)
10.1. North America Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.1.1. U.S. Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.1.1.1. Source
10.1.1.2. Technologies
10.1.1.3. Application
10.1.1.4. System Type
10.1.2. Canada Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.1.3. Mexico Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)

10.2. Europe Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.2.1. UK Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.2.1.1. Source
10.2.1.2. Technologies
10.2.1.3. Application
10.2.1.4. System Type
10.2.2. France Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.2.3. Germany Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.2.4. Spain Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.2.5. Russia Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.2.6. Italy Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.2.7. Rest of Europe Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)

10.3. Asia Pacific Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.3.1. China Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.3.1.1. Source
10.3.1.2. Technologies
10.3.1.3. Application
10.3.1.4. System Type
10.3.2. Japan Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.3.3. South Korea Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.3.4. India Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.3.5. Australia Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.3.6. Southeast Asia Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.3.7. Taiwan Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.3.8. Rest of Asia Pacific Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)

10.4. Latin America Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.4.1. Brazil Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.4.1.1. Source
10.4.1.2. Technologies
10.4.1.3. Application
10.4.1.4. System Type
10.4.2. Argentina Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.4.3. Rest of Latin America Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)

10.5. Middle East Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.5.1. Israel Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.5.1.1. Source
10.5.1.2. Technologies
10.5.1.3. Application
10.5.1.4. System Type
10.5.2. Turkey Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.5.3. Saudi Arabia Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.5.4. UAE Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.5.5. Rest of Middle East Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)

10.6. Africa Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.6.1. Egypt Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.6.1.1. Source
10.6.1.2. Technologies
10.6.1.3. Application
10.6.1.4. System Type
10.6.2. South Africa Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)
10.6.3. Rest of Africa Hydrogen Generation Market Analysis 2016-2028 (US$ Billion)

11. Company Profiles
11.1. Linde plc (Ireland)
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Benchmarking
11.1.4. Strategic Initiatives
11.2. Air Liquide (France)
11.3. Cummins Inc. (US)
11.4. Air Products Inc. (US)
11.5. Uniper SE (Germany)
11.6. Engie (France)
11.7. Siemens (Germany)
11.8. Nel ASA (Norway)
11.9. ITM Power (UK)
11.10. Ally Hi-Tech Co. Ltd. (China)
11.11. IberdrolaS.A. (Spain)
11.12. Xebec Adsorption Inc. (Canada)
11.13. McPhy Energy S.A. (France)
11.14. Messer (Germany)
11.15. Enapter S.r.l. (Germany)
11.16. Orsted A/S (Denmark)
11.17. ThyssenKrupp AG (Germany)
11.18. Iwatani Corporation (Japan)
11.19. Green Hydrogen (Denmark)
11.20. Plug Power Inc. (US)
11.21. Starfire energy (US)
11.22. Aquahydrex (US)
11.23. EXYTRON (Germany)
11.24. Electrochaea GmbH (Germany)
11.25. Atawey (France)
11.26. Hiringa Energy Limited (New Zealand)

12. COVID-19 Impact Analysis
12.1. Global Hydrogen Generation Market, 2020 – 2028, Pre-V/S Post COVID 19
12.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Hydrogen Generation Market Size In 2022, By Scenario
12.3. Impact on Supply Chain and Production in Hydrogen Generation Market
12.4. Impact on Import and Export

13. Import-Export Analysis
13.1. North America Hydrogen Generation Import-Export, 2016 – 2021
13.2. Europe Hydrogen Generation Import-Export, 2016 – 2021
13.3. Asia Pacific Hydrogen Generation Import-Export, 2016 – 2021
13.4. Latin America Hydrogen Generation Import-Export, 2016 – 2021
13.5. Middle East America Hydrogen Generation Import-Export, 2016 – 2021
13.6. Africa Hydrogen Generation Import-Export, 2016 – 2021

14. Hydrogen Generation Marketing Channel Analysis
14.1. Marketing Channel
14.1.1. Direct Marketing
14.1.2. Indirect Marketing
14.1.3. Development Trend
14.2. Market Positioning

15. Hydrogen Generation Manufacturing Cost Analysis
15.1. Key Raw Materials
15.2. Key Raw Material Suppliers
15.3. Market Concentration Rate
15.4. Manufacturing Cost Structure
15.5. Process Analysis

16. Conclusion

Methodology

Qualitative Analysis:

Industry Status and Trends
Market segment by regions, types, applications, and forecast
Market opportunities, potential, government policies, and influence factors.

Quantitative Analysis:

Market size (value, historical data, and forecast (2017-2030)
Market size by types, regions, and applications, from 2017 to 2030.
Market forecast based on the potential demand from downstream clients/buyers, government, influence factors, and the total economic indication, maybe occur in the following years.

Research Data Source:

Secondary Data

Secondary sources incorporate yearly reports, press releases, and investor presentations of companies; Journal of Science, authorised statistical yearbook, National Customs, Industry Association; Secondary research has mostly been functional to obtain key information about the industry’s supply chain, the market downstream buyers, technical dynamics development trends, the main vendors of this market, and market classification & segmentation according to the industry trends, regional markets, and key developments from a market and business oriented viewpoint.

Key Data from Secondary
Items	Source
Market Size (Value & Volume)	Industry Association
	Magazines
	Journals
	Press Releases
	Statistical Yearbook
	National Customs
Revenue of Companies	Paid Databases
	Data Centre
	Annual Reports
	Hoover
	Public Databases
	Bloomberg Business
Qualitative Analysis	Company Annual Reports
	Press Releases
	Industry Associations

Primary Data

In the primary research procedure, various sources from both the Sales and consumption sides were interviewed to acquire qualitative and quantitative information for this report. The primary sources from the Sales side include key product manufacturers (and their competitors), industry experts, industry association, research institutions, distributors, dealers, and traders, as well as the raw materials suppliers and producers, etc. The primary sources from the consumption side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and associated key executives from various key companies and organizations functioning in the global market. Primary research was led to identify segmentation types, product price range, product applications, key players, raw materials supply and downstream consumption, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Data from Primary
Items	PARAMETER	KEY DATA
Market Segmented by Regions	Total Market Size and Regional Market Status Growth Rate Forecast from 2022-2030	Major Regions: North Americas, Europe, Asia Pacific, Middle East and Africa, South Americas, etc. Market Status and Forecast
Submarket by Types	Historical (2017-2021) and Forecast (2022-2030) Data	Value and Growth Rate of Different Downstream Applications
Submarket by Applications	Historical (2017-2021) and Forecast (2022-2030) Data	Company Annual Reports Press Releases Industry Associations

Market Size Estimation

The top-down and bottom-up methods have been employed to estimate and forecast the market size in each region, different types, and applications. The most important vendors in the market have been discovered through secondary research and their market shares in the individual regions were determined through primary and secondary research.

Key players in the market are identified through secondary research and their market incomes are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers, whereas primary research included extensive interviews of key opinion leaders and industry specialists such as knowledgeable front-line staff, directors, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the product markets are determined by using secondary sources and confirmed through primary sources.

All percentage shares split, and breakdowns have been determined using secondary sources and validated through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, examined in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Frequently Asked Questions

Some of the major key players operating in the market are Linde plc (Ireland), Air Liquide (France), Cummins Inc. (US), Air Products Inc. (US), Uniper SE (Germany), Engie (France), Siemens (Germany), Nel ASA (Norway), ITM Power (UK), Ally Hi-Tech Co. Ltd. (China), Iberdrola, S.A. (Spain), Xebec Adsorption Inc. (Canada) and other

The global Hydrogen Generation Market size was valued at USD 147.48 billion in 2021 and is projected to reach USD 310.88 billion by 2028, growing at a CAGR of 11.3% during the forecast period.

The Asia Pacific is predicted to account for the largest market size during the forecast period.

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