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Steam Methane Reforming Hydrogen Generation Market Trends

Report ID: GMI5729
Published Date: Dec 2024
Report Format: PDF

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Steam Methane Reforming Hydrogen Generation Market Trends

Rising demand for hydrogen-based fuels is driving the use of hydrogen generation in power generation and commercial buildings. For instance, the IEA projects that by 2030, nearly 4 metric tonnes of blended hydrogen will heat the buildings. Additionally, infrastructural upgrades and enhanced safety measures will increase the direct use of hydrogen in boiler units, boosting the commercial demand. Additionally, increasing awareness of clean energy and a heightened emphasis on utilizing renewable resources will enhance the market's share.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size for steam methane reforming hydrogen generation was valued at USD 146.4 billion in 2024 and is projected to reach USD 284 billion by 2034, driven by a CAGR of 6.2% from 2025 to 2034.

The transportation segment is expected to exceed USD 11.5 billion by 2034, driven by the decarbonization of the transport sector and advancements in hydrogen technology.

The U.S. market is anticipated to surpass USD 24.5 billion by 2034, driven by a positive outlook for the refining sector and government initiatives in industrial development.

Major players in the industry include ALLY HI-TECH CO., LTD., Air Liquide, Air Products & Chemicals, Inc., CALORIC, HyGear, Linde plc, Mahler AGS GmbH, Messer, NUVERA FUEL CELLS, LLC, and Plug Power Inc.