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Hydrogen Generator Market Trends

Report ID: GMI677
Published Date: Nov 2024
Report Format: PDF

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Hydrogen Generator Market Trends

Rising electricity demand, combined with government initiatives promoting the replacement of diesel generators with sustainable alternatives, is set to propel the industry growth. Additionally, the regional focus on developing cost-effective units and the increasing use of these systems in refineries further bolster the business prospects. The increasing use of hydrogen gas in synthesizing chemical products like ammonia and cyclohexane will boost market penetration. Additionally, advancements in efficient systems for on-demand fuel delivery in various laboratory applications will drive market demand.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market for hydrogen generator was reached USD 722.7 million in 2024 and is estimated to grow at a 7.1% CAGR from 2025 to 2034, driven by the increasing demand for clean fuel.

The onsite segment is projected to reach USD 1 billion by 2034, due to reduced need for storing, changing, and managing gas cylinders, along with lower flammability risks and reduced operating costs.

The steam reforming segment is anticipated to grow at over 6.5% CAGR through 2034, led by the abundant availability of low-cost natural gas as a feedstock and its high yield output.

The U.S. hydrogen generator market is projected to surpass USD 217 million by 2034, propelled by federal codes and standards for safe and efficient systems and the development of hydrogen fueling infrastructure for clean transportation.

Key players in the hydrogen generator industry include Air Liquide, Air Products & Chemicals, EPOCH Energy Technology Corp, Idroenergy, Linde plc, McPhy Energy, Nel ASA, Praxair Technology, ProtonOnsite, and Teledyne Technologies Incorporated.