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Steam Reformer Merchant Hydrogen Generation Market Trends

Report ID: GMI11633
Published Date: Sep 2024
Report Format: PDF

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Steam Reformer Merchant Hydrogen Generation Market Trends

Rising shift towards the circular economy is uplifting the steam reforming adoption in various applications that promote sustainability, such as powering fuel cells and producing green chemicals. This alignment with ambitious goals, will drive its adoption in diverse sectors. Growing need for processes that are flexible and easily scalable according to the market demand, allowing producers to respond swiftly to changes in hydrogen consumption patterns will augment the business growth. This scalability is particularly advantageous in markets with fluctuating energy needs, enabling operators to optimize production without being tied to fixed, captive customers.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of steam reformer merchant hydrogen generation reached USD 23 billion in 2023 and is set to grow at a CAGR of 7.4% between 2024 and 2032.

The chemical segment is projected to surpass USD 22 billion by 2032, due to rising demand for processes that can be easily integrated with the existing chemical setup, enhance overall efficiency and minimize transportation costs and logistical challenges associated with hydrogen delivery.

The Asia Pacific market is anticipated to exceed USD 20 billion by 2032.

Eminent players include Air Products and Chemicals, Air Liquide, Chevron, GTI Energy, Linde, Mahler, Petronas, Thyssenkrupp, Technip Energies, and Uniper.