Pune, India, June 29, 2021 (GLOBE NEWSWIRE) –
Global Hydrogen Generation Market size is expected to grow at a significant CAGR over the forecast period due to increasing environmental concerns related to the use of fuels containing sulfur. With the demand for crude oil soaring, the start of refinery modernization across the region will open up significant growth opportunities. Generating electricity from hydrogen appears to be a silver bullet to address the global warming problem due to its potential for near zero greenhouse gas emissions.
As governments around the world implement policies to encourage the adoption of green energy, the hydrogen generation industry appears to be an area of ââpromise. R&D initiatives have made significant strides recently, supported by growing investments in carbon negative solutions.
The following seven important factors are driving the Hydrogen Generation market forecast:
Preference for electrolysis processes across North America
As far as the processes for generating hydrogen are concerned, electrolysis has experienced rapid use in North America in recent years. The reason for this trend is the growing tendency to produce more environmentally friendly fuels from hydrogen. With an increasing preference for hydrogen production from renewable raw materials, the demand for this process increases. Data centers, the aviation and logistics industries are among the leading consumers of fuels made from hydrogen.
The market share of North American hydrogen generation from the electrolysis segment is expected to increase by 2026. Advantageous tax credits as well as duty exemption regulations of the regional governments promote the expansion.
Access sample pages from the report, “North America Hydrogen Generation Market Forecasts 2026“In detail together with the table of contents (ToC) @
Ongoing prototype projects across Canada
With the growing awareness of green hydrogen and its benefits, the Canadian government is promoting this alternative. Numerous production facilities, the increasing demand for electricity and the continued expansion of the chemical, energy and automotive industries set the tone for growth. North America Hydrogen Generation Market is advancing due to ongoing prototype projects coupled with advances in the Canadian refining sector.
Growing consumption in Asian buildings
Hydrogen is becoming increasingly popular as a buzzword in the real estate industry in Asia. The increasing consumption of hydrogen-based fuel in residential and commercial buildings in the region will improve the outlook for the APAC industry.
In May 2021, for example, Toyota announced its collaboration with the Japanese oil company ENEOS to develop a hydrogen fuel cell system for its Woven City, a prototype of the âcity of the futureâ. The collaboration marks a significant step towards a hydrogen-based society in which the two companies are expected to evaluate the feasibility of a completely carbon-free supply chain from production to use.
Growing acceptance by small industries in Asia
Asia Pacific Hydrogen Generation Market Size will grow significantly in the forecast timeframe, supported by the increasing introduction of renewable energies. Small industries in particular are taking advantage of the convenient storage and distribution of hydrogen. The ongoing R&D activities aimed at developing advanced industrial hydrogen generators contribute to product acceptance.
Market trends in the APAC region show a tendency towards the introduction of industrial hydrogen generators. With superior hydrogen purity, several manufacturers of industrial hydrogen generators are meeting the need for uninterrupted supply, fully integrated backup systems, compact designs and easy maintenance.
Access sample pages from the report, “Market forecasts for hydrogen production in the Asia-Pacific region 2026“In detail together with the table of contents (ToC) @
Growing LNG imports in China
The novel coronavirus outbreak is causing a major disruption to the global economy and trade as production and consumption are scaled back worldwide. Given the strong support from the regional government during these challenging times, the market share of Chinese hydrogen production is expected to show a rising curve in the forecast timeframe.
According to the International Energy Agency (IEA) records, China is the largest LNG importer with significant potential for hydrogen projects. The robust industrialization with a growing population leads to an increasing demand for electricity. With the chemical, semiconductor, and automotive industries expanding, the Asia-Pacific industry forecast is likely to see increased adoption.
Stream reformer process with an upward trend in Europe
Due to the abundance of traditional fuels, the Stream Reformer Process (SMR) is expected to see increasing use across Europe. The benefits of this process include minimal operating costs and the avoidance of carbon buildup. Power reformers can prevent carbon build-up over the catalytic converter. They are gaining recognition for their wide range of applications in central oil facilities and gas refineries.
Access sample pages from the report, “Europe Hydrogen Generation Market Forecasts 2026“In detail together with the table of contents (ToC) @
Changed compliance requirements across Europe
The announcement of new standards in accordance with the recently passed Environment and Climate Act 2020 has again underscored the need to limit emissions in Europe. Technological innovations to realize a CO2-free future pave the way for Industry expansion in Europe. The economics of advanced hydrogen generators are likely to accelerate the transition to sustainable, reliable and efficient energy supplies by 2026.
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