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North America Merchant Hydrogen Generation Market Trends

Report ID: GMI10141
Published Date: Jul 2024
Report Format: PDF

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North America Merchant Hydrogen Generation Market Trends

Extending support in terms of investments and funding from both public and private sectors in clean fuel projects and startups, enabling the development of new production facilities, research and development of advanced technologies, and infrastructure expansion thereby complementing the business scenario. Rising integration of renewable energy sources, such as wind and solar, with hydrogen production to balance the grid by storing excess renewable energy and also ensure a sustainable and zero-emission clean fuel production process is set to augment the industry growth.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of North America merchant hydrogen generation was reached USD 6.4 billion in 2023 and is anticipated to grow at 6.6% CAGR through 2032, due to rising regulatory support and government initiatives.

The steam reformer segment in the North America merchant hydrogen generation market is projected to exceed USD 10.2 billion by 2032, owing to the rising adoption of production processes in industries, such as petroleum refining, and ammonia production.

U.S. merchant hydrogen generation market is anticipated to exceed USD 9 billion by 2032 led by the rising government focus on energy transition and climate change mitigation.

Air Liquide, Air Products and Chemicals, Inc, Cummins Inc, Chart Industries, Inc., ITM Power Inc., Linde Plc, Nel Hydrogen, Nuvera Fuel Cells, LLC, Plug Power Inc, and Sumitomo Corporation among others.