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Petroleum Refining Hydrogen Generation Market Trends

  • Report ID: GMI9531
  • Published Date: May 2024
  • Report Format: PDF

Petroleum Refining Hydrogen Generation Market Trends

Rising transition to low carbon fuel across the petroleum refining sector will encourage key players to explore clean gas production methods such as electrolysis using renewable energy sources to reduce greenhouse gas emissions thereby uplifting the business statistics. Increasing government support in terms of supportive policies and incentives to promote hydrogen production and adoption in various key applications coupled with rising refineries partnerships and collaborations with technology providers, will drive the industry outlook.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of petroleum refining hydrogen generation was reached USD 57.9 billion in 2023 and is anticipated to grow at 6.7% CAGR through 2032, owing to rising government support and policies.

The electrolysis segment in the petroleum refining hydrogen generation market will witness over 7.3% CAGR during 2024 to 2032, owing to the growing emphasis on decarbonization and the transition to clean energy.

Europe petroleum refining hydrogen generation market size will exceed USD 26 billion by 2032, attributed to rising investments in developing advanced technology including proton exchange membrane electrolysis and alkaline electrolysis to produce green hydrogen from renewable sources.

Air Products and Chemicals, Inc, Air Liquide, BP Plc, ExxonMobil, Cummins Inc, Chevron Corporation, Linde plc., Indian Oil Corporation Ltd, Messer Group GmbH, Nel Hydrogen, Plug Power Inc., Praxair, Inc, Reliance Industries Ltd, Resonac Corporation, and Shell Global.

Petroleum Refining Hydrogen Generation Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 25
  • Countries covered: 18
  • Pages: 80
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