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Captive Petroleum Refinery Hydrogen Generation Market Trends

Report ID: GMI10955
Published Date: Aug 2024
Report Format: PDF

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Captive Petroleum Refinery Hydrogen Generation Market Trends

Rising energy transition on decarbonizing industrial sectors, encouraging petroleum companies to adopt on site clean fuel production, supporting them to meet their emission reduction targets and corporate sustainability goals will drive the business scenario. Furthermore, companies are shifting towards captive clean energy production to reduce the overall production costs and utilize byproducts from other refining processes as feedstock. This cost advantage is significant in an environment where companies are under pressure to reduce operational expenses while maintaining product quality and compliance.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of captive petroleum refinery hydrogen generation was worth over USD 47.6 billion in 2023 and will showcase about 6.5% CAGR between 2024 and 2032, due to the increasing demand for hydrogen in refining processes, such as hydrocracking and desulfurization.

Captive petroleum refinery hydrogen generation market from the steam reformer segment will surpass USD 71.6 billion by 2032, driven by its efficiency and proven technology in producing hydrogen from natural gas.

Asia Pacific captive petroleum refinery hydrogen generation market will cross USD 32.7 billion by 2032, owing to its rapidly expanding industrial base and increasing demand for refined petroleum products.

Key players operating in the captive petroleum refinery hydrogen generation industry are Air Liquide, Air Products and Chemicals, Chennai Petroleum Corporation (CPCL), Emerson, Fluor Corporation, GAIL Limited, Maire Tecnimont, Nel Hydrogen, Next Hydrogen, and Technip Energies, among others.