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Onsite Hydrogen Generator Market Size

Report ID: GMI9868
Published Date: Jun 2024
Report Format: PDF

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Onsite Hydrogen Generator Market Size

Onsite Hydrogen Generator Market size was valued USD 528.8 Million in 2023 and is anticipated to grow at a CAGR of 6.6% from 2024 and 2032. An onsite hydrogen generator is a system or device designed to produce hydrogen gas directly at the location where it will be used, rather than relying on centralized production and transportation of hydrogen. This offers several advantages, including improved efficiency, reduced transportation costs, and enhanced energy security.

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Ongoing exploration of onsite hydrogen generators across the maritime and steel industry to support fuel cell powered vessels and aircraft, will support reduce emissions and improve sustainability. Governments worldwide are providing financial incentives, grants, and subsidies to support the deployment of onsite hydrogen generation technologies. Additionally, National and regional hydrogen strategies, such as the EU’s Hydrogen Strategy and Japan’s Basic Hydrogen Strategy, outline ambitious targets for hydrogen production and usage, encouraging the adoption of onsite generators.

Onsite Hydrogen Generator Market Report Attributes
Report Attribute	Details
Base Year:	2023
Onsite Hydrogen Generator Market Size in 2023:	USD 528.8 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.6%
2032 Value Projection:	USD 930.9 Million
Historical Data for:	2021 to 2023
No. of Pages:	70
Tables, Charts & Figures:	15
Segments covered:	Process, Capacity, Application and Region
Growth Drivers:	Increasing demand for clean fuel Shifting trend toward zero emission vehicles Stringent regulatory norms to minimize emissions
Pitfalls & Challenges:	Transportation & distribution issues

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Onsite hydrogen generators are increasingly being paired with renewable energy sources, such as solar and wind power, to produce green hydrogen. This integration helps utilize excess renewable energy and supports decarbonization goals. By generating hydrogen onsite, facilities can enhance their energy resilience, ensuring a reliable supply even during disruptions in external supply chains. In addition, In remote or off-grid areas, onsite hydrogen generators combined with renewables provide a sustainable and independent energy solution, enhancing energy access and reliability, contributing to the business momentum.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

Onsite hydrogen generator industry size worth USD 528.8 million in 2023 and will demonstrate a 6.6% CAGR between 2024 and 2032 due to increasing demand for clean energy solutions and the rising adoption of hydrogen as a sustainable alternative fuel.

The fuel cells segment will surpass USD 196 million by 2032, driven by its versatile applications across various industries, including automotive, stationary power generation, and portable devices.

Asia Pacific onsite hydrogen generator industry will record USD 448 million by 2032, owing to robust industrialization, increasing demand for clean energy solutions, and government initiatives promoting hydrogen infrastructure.

Air Products & Chemicals, Inc., Cockerill Jingli Hydrogen, EPOCH Energy Technology Corp, Hitachi Zosen Corporation, LNI Swissgas Srl, Idroenergy, Mahler AGS, MVS Engineering Pvt. Ltd., and Teledyne Technologies Incorporated, among others.