Whether you're expanding or optimizing within the hydrogen generators industry, this report offers the clarity and context needed for confident decision-making.
How Much Is The Hydrogen Generators Market Worth?
The hydrogen generators market size has grown marginally in recent years. It will grow from $1.2 billion in 2024 to $1.22 billion in 2025 at a compound annual growth rate (CAGR) of 1.2%. The growth in the historic period can be attributed to industrial hydrogen demand, energy sector applications, government initiatives and subsidies, research and development, hydrogen as a green energy carrier.
The hydrogen generators market size is expected to see steady growth in the next few years. It will grow to $1.4 billion in 2029 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to rise in green hydrogen projects, electrification of industries, government policies and carbon reduction targets, expansion of hydrogen fuel cell vehicles, global collaboration on hydrogen economy, integration with renewable energy sources. Major trends in the forecast period include technological innovations in electrolysis, advancements in electrolysis technologies, advancements in electrolysis technologies, integration of artificial intelligence (AI), hydrogen as an energy storage medium.
Get your free sample today:
What Are The Current Leading Growth Drivers For Hydrogen Generators Market?
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. For instance, in March 2024, the Environmental Protection Agency (EPA), a US-based government agency, announced a final rule titled Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles, introducing stricter standards to cut harmful air pollutant emissions from these vehicles beginning with model year 2027. This rule expands upon the previous standards for federal greenhouse gas emissions for passenger cars and light trucks covering model years 2023 through 2026. Hence, Government and environmental organizations are strengthening regulations to control greenhouse gas emissions which drives the hydrogen generators market.
Which Segment Accounted For The Largest Hydrogen Generators Market Share?
The hydrogen generators market covered in this report 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
Subsegments:
1) By Onsite: Electrolytic Hydrogen Generators, Steam Methane Reforming (SMR) Hydrogen Generators, Pressure Swing Adsorption (PSA) Hydrogen Generators
2) By Portable: Portable Electrolyzers, Hydrogen Generation Kits, Mobile Hydrogen Generators
Hydrogen Generators Market Emerging Trends And Opportunities
Major companies operating in the hydrogen generators market are developing innovative products such as emission-free generators to increase their profitability in the market. Emission-free hydrogen generators are devices or systems designed to produce hydrogen gas without releasing greenhouse gas emissions or other harmful pollutants into the environment. For instance, in November 2023, Hitachi Energy Ltd., a Switzerland-based sustainable energy system provider launched HyFlex. The HyFlex unit, engineered for either temporary or permanent setup, supplies power in situations where grid connections are unfeasible and diesel generators are not viable. The medium-power model supports temporary installations, offering a power range of 400–600 kVA, while the high-power version serves permanent setups, delivering 1 MVA or more per unit. HyFlex is entirely emission-free, generating solely AC power, usable heat, and water. It proves applicable to diverse industries, including construction sites situated in remote areas or those sensitive to noise and pollution. Additionally, it suits remote venues, data centers, and hospitals.
Which Are The Top Companies To Hold The Market Share In Hydrogen Generators Market?
Major companies operating in the hydrogen generators market include Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Siemens AG, Linde plc, Cummins Inc., Air Liquide S.A., Johnson Matthey plc, Air Products and Chemicals Incorporated, Praxair Technology Inc., Teledyne Energy Systems Inc., Plug Power Inc., Nel Hydrogen Fuel Cells AS, NEL ASA, Ballard Power Systems Inc., Nuvera Fuel Cells LLC, MVS Engineering Pvt. Ltd., Epoch Energy Technology Corporation, McPhy Energy S.A.S., HELBIO S.A., ITM Power Ltd., Proton OnSite LLC, Green Hydrogen System, Ideroenergy Inc., Hy9 Corporation, Suzhou Jingli Hydrogen Equipment Co. Ltd., Deokyang Co. Ltd.
View the full hydrogen generators market report here:
Which Region Is Projected To Account For The Largest Share Of The Hydrogen Generators Market?
North America was the largest region in the hydrogen generators market in 2024. The regions covered in the hydrogen generators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Contact Us:
The Business Research Company
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Comments
Post a Comment