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North America Chemical Hydrogen Generation Market Size
- Report ID: GMI9642
- Published Date: May 2024
- Report Format: PDF
North America Chemical Hydrogen Generation Market Size
North America Chemical Hydrogen Generation Market was valued at USD 6.3 billion in 2023 and is anticipated to grow at a CAGR of 5.7% from 2024 to 2032. Rising implementation of robust policies and incentives to promote clean energy technologies coupled with increasing research and development funding to reduce the clean fuel production cost and increase its adoption is set to augment the industry landscape. Growing focus of leading players including Air Products and Cummins on adoption of hydrogen technologies as part of their broader strategies to reduce carbon footprints and transition to cleaner energy sources will boost the product adoption.
Rising technological advancements such as electrolysis and steam methane reforming with carbon capture and storage (CCS) to make clean fuel generation more efficient and cost-effective will drive the market growth. Furthermore, expanding innovation activities in electrolysis to reduce the energy requirements and costs associated with green hydrogen production will foster the product demand.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America Chemical Hydrogen Generation Market Size in 2023: | USD 6.3 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 5.7% |
| 2032 Value Projection: | USD 10.2 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 80 |
| Tables, Charts & Figures: | 25 |
| Segments covered: | Delivery Mode, Process and Country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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North America Chemical Hydrogen Generation Market Scope
