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North America Steam Methane Reforming Hydrogen Generation Market Trends

Report ID: GMI9359
Published Date: May 2024
Report Format: PDF

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North America Steam Methane Reforming Hydrogen Generation Market Trends

Key factors comprising low cost electricity, access to hydro resources coupled with growing use of hydrogen in the renewable energy matrix will facilitate the hydrogen trade, thereby strengthening the market growth. Further, it is a cost-effective process, especially in areas with low natural gas prices. Its efficiency in converting natural gas into hydrogen coupled with economies of scale, will contribute to enhanced product demand across the region.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

North America steam methane reforming hydrogen generation market size was valued at over USD 16.8 billion in 2023 and is set to record over 5.8% CAGR from 2024 to 2032, driven by growing awareness on clean energy.

North America steam methane reforming hydrogen generation industry from the transportation application segment is anticipated to grow at more than USD 2 billion by the year 2032, driven by ongoing efforts to decarbonize the transport sector.

U.S. steam methane reforming hydrogen generation industry held more than 78% of the North America steam methane reforming hydrogen generation market share in 2023 and will grow rapidly till 2032, driven by ongoing advancements in the technology.

Air Products and Chemicals, Inc., Linde plc, Messer, NUVERA FUEL CELLS, LLC, TOPSOE, ALLY HI-TECH CO., LTD., CALORIC, Plug Power Inc, and Haskel among others.