North America Chemical Hydrogen Generation Market Size - By Delivery Mode (Captive and Merchant), By Process (Steam Reformer, Electrolysis and Others), Country Outlook & Forecast, 2024 – 2032

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.
 

North America Chemical Hydrogen Generation Market Trends

Rising investments in establishing extensive clean fuel infrastructure to enhance the supply chain and facilitate broader adoption of products across chemical sector will stimulate the business statistics. Increasing collaborative efforts between government entities, private companies, and research institutions to boost investments in clean energy projects will complement the business growth.
 

North America Chemical Hydrogen Generation Market Analysis

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.
 

North America Chemical Hydrogen Generation Market Share

Eminent players are investing heavily in research and development to enhance the efficiency, cost-effectiveness, and sustainability of hydrogen generation technologies. Furthermore, many companies are forming strategic partnerships and collaborations with technology providers, research institutions, and government agencies to leverage expertise, share resources, and accelerate innovation. Key players are also expanding their presence in the North American market by entering new geographical regions, targeting emerging industries, and diversifying customer segments.
 

North America Chemical Hydrogen Generation Market Companies

Eminent players operating in the North America chemical hydrogen generation industry include:

• Ally Hi-Tech Co., Ltd
• Air Products and Chemicals, Inc.
• Cummins Inc
• FuelCell Energy
• HyGear
• Iwatani Corporation
• Linde plc
• McPhy Energy S.A.
• Messer Group GmbH
• Nel Hydrogen
• Plug Power Inc.
• Reliance Industries Ltd
• Resonac Corporation
• Teledyne Technologies Incorporated
• Thyssenkrupp AG
   

North America Chemical Hydrogen Generation Industry News

• In December 2022, AES Corporation and chemical company, Air Products announced a partnership to build a green hydrogen production plant in Texas. The project will include approximately 1.4 GW of wind and solar power capacity, with an investment nearing USD 4 billion. The facility will feature an electrolyzer capable of producing over 200 tons of green hydrogen per day. Both companies will jointly own the renewable energy and electrolyzer assets.
   
• In December 2021, Cummins Inc., headquartered in the U.S., announced a joint venture with China Petrochemical Corporation (Sinopec) to form Cummins Enze Hydrogen Technology Co., Ltd. Sinopec, aiming to become the world’s leading clean energy chemical company, and has positioned hydrogen industry as the core of its new power strategy. This collaboration is set to accelerate the transition from gray hydrogen to decarbonized hydrogen, contributing to Sinopec's goal of becoming China's largest hydrogen energy company.
   

This North America chemical hydrogen generation market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in “USD Billion” from 2021 to 2032, for the following segments:

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Market, By Delivery Mode

• Captive
• Merchant

Market, By Technology

• Steam Reformer
• Electrolysis
• Others

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico