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North America Petroleum Refining Hydrogen Generation Market Trends

Report ID: GMI9987
Published Date: Jun 2024
Report Format: PDF

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North America Petroleum Refining Hydrogen Generation Market Trends

Increasing petroleum industry ambitious sustainability targets to reduce their carbon footprints and align with global climate goals is set to drive the market growth. Rising shift towards low carbon fuel across the refining sector will encourage companies to explore clean gas production solutions using renewable energy sources to reduce greenhouse gas emissions thereby complementing the business statistics.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

North America petroleum refining hydrogen generation market size was valued USD 10.2 billion in 2023 and is anticipated to grow at 5.9% CAGR through 2032 driven by the rising government support and policies.

The electrolysis segment in the North America petroleum refining hydrogen generation market is set to grow at over 6% CAGR during 2024- 2032 owing to the rising focus of government and regulatory bodies.

U.S. petroleum refining hydrogen generation market is anticipated to surpass USD 13 billion by 2032 attributed to stringent environmental regulations in the U.S.

Air Liquide, Air Products and Chemicals, Inc, BP Plc, Cummins Inc, Chevron Corporation, ExxonMobil, Irving Oil, Linde plc, Messer Group GmbH, Nel Hydrogen, Praxair, Inc, Plug Power Inc., Shell Global, and Suncor Energy