Merchant Hydrogen Generation Market Size

Merchant Hydrogen Generation Market Size

Merchant Hydrogen Generation Market was valued at USD 26 billion in 2023 and is anticipated to grow at a CAGR of 7.6% from 2024 to 2032. It refers to the production of hydrogen by a third-party company that sells it to various customers rather than using it for its own internal needs. These companies produce hydrogen at large-scale facilities and distribute it to a range of industries, including manufacturing, transportation, and energy sectors.

Rising shift towards decarbonization supported by governments and industries policies and practices aimed at reducing carbon emissions to combat climate change will escalate the process adoption. Expanding renewable energy capacity coupled with the rising need for effective energy storage and management solutions is set to augment the market landscape.

Rising technological advancements in clean fuel production to make the process more efficient and cost-effective in addition to improving innovations in electrolysis, such as proton exchange membrane and solid oxide electrolysis, as well as improvements in natural gas reforming with carbon capture to reduce the production cost will propel the process penetration. Growing shift towards greener processes by industries including steel manufacturing, chemicals, and refining is set to influence the industry statistics.