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Asia Pacific Petroleum Refining Hydrogen Generation Market Share

Report ID: GMI11740
Published Date: Oct 2024
Report Format: PDF

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Asia Pacific Petroleum Refining Hydrogen Generation Market Share

Asia Pacific Petroleum Refining Hydrogen Generation Company Market Share

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Eminent players are forming alliances with refineries and energy firms to build large-scale hydrogen production plants. These collaborations allow technology and resource sharing, enabling firms to meet rising hydrogen demand efficiently. Key players are investing in low-carbon hydrogen generation, focusing on blue and green hydrogen technologies to align with global emissions targets. They are implementing carbon capture and storage (CCS) alongside steam methane reformers to produce low-carbon hydrogen, ensuring compliance with stringent environmental regulations.

Asia Pacific Petroleum Refining Hydrogen Generation Market Companies

Eminent players operating in the Asia Pacific petroleum refining hydrogen generation industry are:

Air Products and Chemicals
Air Liquide
BP
Chevron Corporation
Chennai Petroleum Corporation
Cummins
ExxonMobil
Linde
Messer Group
Nel Hydrogen
Plug Power
Praxair
Reliance Industries
Sinopec
Suncor Energy

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The Asia Pacific petroleum refining hydrogen generation market is projected to exceed USD 21.5 billion by 2032, driven by increasing demand for hydrogen in refining processes like hydrocracking and desulfurization to meet stricter fuel quality standards.

The captive segment is anticipated to exceed USD 32 billion by 2032, propelled by lower transportation and logistics costs associated with on-site hydrogen delivery for refining applications.

The steam reformer segment is projected to grow at a CAGR of over 6.5% through 2032, attributed to its cost-effectiveness, particularly when using natural gas as a feedstock.

The China petroleum refining hydrogen generation market is expected to reach USD 15 billion by 2032, driven by increasing crude oil processing capacities and the demand for clean fuel for desulfurization to meet stringent emission standards for low-sulfur gasoline and diesel.

Eminent players in the industry include Air Products and Chemicals, Air Liquide, BP, Chevron Corporation, Chennai Petroleum Corporation, Cummins, ExxonMobil, Linde, Messer Group, Nel Hydrogen, Plug Power, Praxair, Reliance Industries, Sinopec, and Suncor Energy.