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Petroleum Refinery Merchant Hydrogen Generation Market Analysis

  • Report ID: GMI11354
  • Published Date: Sep 2024
  • Report Format: PDF

Petroleum Refinery Merchant Hydrogen Generation Market Analysis

Based on process, the steam reformer segment is projected to surpass USD 17 billion by 2032, on account of their long operational life and robust technology making them a trusted choice for merchant hydrogen suppliers. Growing market demand for clean fuel, driven by the need for cleaner fuels and decarbonization efforts, is spurring investment in process growth. Furthermore, their seamless integration into hydrogen infrastructure and compatibility with gas processing units and hydrogen purification systems is complementing industry expansion.
 

 Asia Pacific Petroleum Refinery Merchant Hydrogen Generation Market Size, 2022-2032 (USD Billion)

Asia Pacific petroleum refinery merchant hydrogen generation market is likely to exceed USD 5.5 billion by 2032. Rapid industrialization and urbanization in the region coupled with rising enforcement of stricter environmental regulations to combat air pollution and reduce greenhouse gas emissions will boost business growth. Furthermore, many Asia Pacific countries are committed to achieving carbon neutrality and have set ambitious targets for reducing carbon emissions leading to complementing merchant hydrogen demand by providing a cleaner alternative to traditional fuels leading to augment process penetration.

 

In the U.S. refineries are increasingly turning to merchant hydrogen to optimize their operations and reduce costs. Refinery companies are outsourcing hydrogen production to benefit from economies of scale achieved by specialized hydrogen producers, reducing operational costs and enhancing economic efficiency. The country is investing heavily in clean fuel infrastructure, including production facilities and distribution networks. This investment supports the growth of merchant hydrogen supply chains and ensures a reliable and consistent hydrogen supply to refineries, enhancing operational stability and efficiency.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of petroleum refinery merchant hydrogen generation was worth over USD 10.3 billion in 2023 and will record a 7.6% CAGR between 2024 and 2032, driven by the stringent environmental regulations aimed at reducing emissions and improving air quality.

The steam reformer segment of petroleum refinery merchant hydrogen generation market will cross USD 17 billion by 2032, bolstered by their long operational life and robust technology, making them a trusted choice for merchant hydrogen suppliers.

Asia Pacific market for petroleum refinery merchant hydrogen generation is set to surpass USD 5.5 billion by 2032, stimulated by rapid industrialization and urbanization.

ITM Power, Green Hydrogen Systems, KBR, Inc., Nel ASA, Thyssenkrupp, and Uniper SE, among others.

Petroleum Refinery Merchant Hydrogen Generation Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 20
  • Countries covered: 18
  • Pages: 65
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