North America Hydrogen Generation Market Analysis

North America Hydrogen Generation Market Analysis

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Based on technology, the North America hydrogen generation industry is segmented into steam reformer, electrolysis and others. Steam reformer segment is anticipated to cross USD 27 billion by 2032, owing to abundant natural gas reserves, making it an attractive method for hydrogen production. The scalability of these technologies makes them suitable for both centralized and distributed hydrogen production applications, thereby propelling the product adoption. In addition, the cost-effectiveness of technology for hydrogen production, particularly when coupled with carbon capture and storage technologies to mitigate the greenhouse gas emissions will strengthen the business outlook.

Based on application, the North America hydrogen generation market is segmented into petroleum refinery, chemical and others. Metal segment is set to expand at a CAGR of over 6% through 2032.  Growing implementation of stringent emission reduction targets by the government and regulatory bodies to combat climate change and air pollution will escalate the demand for clean energy carriers. Rising innovations in electrolysis, steam methane reforming, and transportation infrastructure will reduce the entry barriers for hydrogen adoption thereby enhancing the product demand.
 

Canada hydrogen generation market is anticipated to surpass USD 4.8 billion by 2032, on account of its abundant renewable energy resources, increasing demand from various end-use industries, and supportive government policies. Strong R&D capabilities across the economy along with vast renewable energy resources, including hydroelectric power, wind energy, solar power, and biomass, will provide a reliable and sustainable supply of electricity for electrolysis. Furthermore, strong commitments from the government and enhanced funding including Strategic Innovation Fund and the Net Zero Accelerator will fuel the product penetration.
 

The U.S. has shown significant market growth driven by its large natural gas reserves and well-established pipeline infrastructure. Government increased funding and support including the Hydrogen Posture Plan and the National Hydrogen Energy Vision and Roadmap aim to enhance R&D, validate technologies, and develop hydrogen infrastructure will augment the industry statistics. Additionally, the U.S. Department of Energy (DOE) and the Department of Transportation (DOT) have set deliverables to support the development of clean energy infrastructure in the country thereby creating opportunities for business growth.