North America Chemical Hydrogen Generation Market Analysis

North America Chemical Hydrogen Generation Market Analysis

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Based on delivery mode, the captive segment is anticipated to cross more than USD 6 billion by 2032. Rising demand for on-site hydrogen generation to eliminate the need for transportation and reduce associated costs, particularly advantageous for large industrial operations that require a consistent and substantial supply of clean fuel is expected to propel the market landscape. Furthermore, it ensures a reliable and uninterrupted supply of clean gas in addition to easy customization and flexibility to meet the specific needs and demand fluctuations of the host company will enhance the product penetration.
 

Based on process, the North America chemical hydrogen generation market is segmented into steam reformer, electrolysis and others. Among these the electrolysis segment is set to grow at a CAGR of over 5.5% through 2032. Declining process cost owing to reduction in renewable energy sources costs, particularly solar and wind power coupled with economies of scale and advancements in technology will foster the process penetration. Furthermore, it enables easy integration of renewable energy sources into the grid by providing flexible demand for excess electricity during periods of low demand or surplus generation will boost the business scenario.
 

Canada chemical hydrogen generation market is projected to surpass USD 1.5 billion by 2032. Rising commitments to reduce greenhouse gas emissions and transition to clean energy coupled with government investments to improve clean fuel production, usage, and export will influence the product adoption. The presence of vast resources and strategic location is pushing the country to explore opportunities for clean fuel export in international markets, particularly to Europe and Asia which will propel the industry statistics.
 

In the U.S., rising promotion of hydrogen in their clean energy strategies including the H2@Scale program, aiming to integrate hydrogen into the energy economy will foster the industry statistics. Furthermore, growing push for reducing carbon emissions and investments by key players to develop advanced clean energy practices to improve efficiency and reduce costs will complement the business growth.