hydrogen generation market report 2022-2028

1. Global Hydrogen Generation Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2021-2028

2. Global Hydrogen Generation Market - Industry Trends & Forecast Report 2028 A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global Hydrogen Generation Market reached USD 143.9 billion in 2021. The global hydrogen generation market is further expected to reach USD 249.3 billion by 2028 and is projected to grow at a CAGR of 9.1% during 2022-2028 (forecast period). Government regulations for desulfurization and greenhouse gas emissions, increasing focus on decarbonization and favorable government regulations, and rising government investment in the industry are the major driver for the hydrogen generation market.

3. Growth Drivers  Government regulations for desulfurization and greenhouse gas emissions As transportation, particularly road traffic, is the primary source of air pollution in any country or region, governments in many countries have issued stringent emission regulations for passenger vehicles, light and heavy commercial vehicles, and other types of vehicles. In December 2021, the Environmental Protection Agency (EPA) issued new national greenhouse gas (GHG) emission standards for passenger cars and light trucks for Model Years 2023-2026. GHG emissions, as well as other criteria pollutants, would be significantly reduced under the final rules. 

4. Restraints High Initial Investment Cost Coupled With High Capital Cost Of Hydrogen Energy Storage The high cost of setting up hydrogen generation projects, as well as the large capital investments necessary, are expected to limit industry expansion. For instance, green hydrogen, which uses renewable energy to produce hydrogen via the electrolysis process, is more expensive, making hydrogen generation more expensive. Furthermore, as hydrogen is a highly volatile and combustible gas, strict safety precautions should be taken to avoid leakage and explosion, which is expected to stifle market growth throughout the projection period.

5. Impact of COVID-19 – Global Hydrogen Generation Market The COVID-19 outbreak began in December 2019, affecting the global hydrogen-generating market in all main regions covered in the study. China, the United States, the United Kingdom, Italy, and several other major economies are affected by the COVID-19 pandemic. The COVID-19 pandemic has cut electricity consumption dramatically, although residential building electricity use has increased. However, governments worldwide were forced to curtail commercial activity to limit the threat of coronavirus. The fall in corporate operations has further harmed household energy management solutions in the medium term.

6. Global Hydrogen Generation Market: Regional Insights Geographically, the global Hydrogen Generations market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. In 2020, Asia Pacific accounted for the largest revenue share of over 35.0%, and the trend is expected to continue till 2028. China, Japan, South Korea, India, and Australia are important players in the Asia Pacific industry. China is implementing huge improvements in the gasoline and petroleum industries to address a variety of issues, including pollution and economic disparities between urban and rural populations. Air pollution and rising Sulphur levels in the environment are also posing problems for the country.

7. Competitive Landscape The leading market players in the global hydrogen generation market are Linde Plc, Air-liquide, Air Products And Chemicals Inc, Messer Group GmbH , Showa Denko K.K. , Nel ASA, FuelCell Energy Inc., Iwatani Corporation , Plug Power, Uniper SE, and Engie SA. The hydrogen generation market is partially consolidated, with severe competition between the major competitors. Players in the hydrogen generation market design their business strategies based on the existing market scenario. In order to develop a foothold in the domestic market, global players form alliances with local players.

8. Recent Development March 2022:Getech, the net zero technology provider and data-driven energy asset developer, announced that H2 Green Limited ("H2 Green") has signed a Memorandum of Understanding (the "MoU") with the Highland Council incorporated under the local government of Scotland (the "Highland Council H2 Green is a Getech company dedicated to the development and operation of green hydrogen hub infrastructure. The Highland Council and H2 Green have come up with a plan to build a regional network of green hydrogen hubs throughout the Scottish Highlands. This infrastructure will accelerate the decarbonization of the Highlands council area, the United Kingdom's largest administrative unit, which covers over a third of Scotland.

9. Key Players The leading market players in the global hydrogen generation market are Linde Plc, Air-liquide, Air Products And Chemicals Inc, Messer Group GmbH , Showa Denko K.K. , Nel ASA, FuelCell Energy Inc., Iwatani Corporation , Plug Power, Uniper SE, and Engie SA. Sample Copy of the Report: https://www.blueweaveconsulting.com/report/hydrogen-generation-market-bwc20016/report-sample

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