The key trend identified in the global hydrogen generation market is the growing investments in the research and development (R&D) of hydrogen production technologies. As per World Energy Outlook 2018 by the International Energy Agency (IEA), investments in water electrolyzers for the production of hydrogen have increased considerably in recent years. The investments in water electrolysis products for clean energy applications stood around $17.0 million in 2017 and are expected to increase to $40.0 million by 2020.
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Hydrogen is a chemical molecule that is non-metallic, colorless, non-toxic, odorless, and highly combustible in nature. It is commonly produced by processing syngas, which is a mixture of carbon monoxide and hydrogen. Additionally, it can be produced through the electrolysis of water, an environment-compatible process. Hydrogen can be stored in various forms, such as gaseous, liquid, and metal hydride. Besides, it demonstrates high energy efficiency and low boiling point and can be easily transported; these qualities make it ideal for use in industrial applications. The hydrogen generation market in the report is segmented on the basis of production and delivery mode, technology, application, and geography.
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Geographically, the hydrogen generation market is divided into Asia-Pacific (APAC), North America, Latin America, Europe, and the Middle East and Africa. During the forecast period, APAC region is expected to hold a significant share in the market owing to the increasing refining capacity of the region to meet the rising fuel demand. Moreover, China and Japan are investing heavily in the R&D of fuel cells to increase the production of electric vehicles.
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Based on technology, the hydrogen generation market is categorized into steam methane reforming, partial oil oxidation, coal gasification, and water electrolysis. Of these, steam methane reforming is expected to hold a significant share in the market during the forecast period. It is an advanced technology that uses high-temperature steam to produce hydrogen from natural gas. Most of the oil and gas refineries around the world use steam reforming to produce hydrogen.
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