Market Definition
A hydrogen gas generation system is an efficient method of producing hydrogen gas within a facility, such as an industrial plant, a power plant, a warehouse, a laboratory, among others. It is capable of producing a high purity hydrogen gas without any impurities other than trace amounts of moisture, nitrogen, and oxygen.
The increasing levels of research & development in hydrogen gas generation techniques have provided a smooth path for the sales of hydrogen gas generation systems globally. It provides efficient & cost-effective means of generating on-demand hydrogen gas for several applications, such as laboratories, manufacturing, and industrial sites, which is expected to proliferate the market in the forthcoming years.
Market Insights
The Global Hydrogen Gas Generation System market would witness a CAGR of around 5.8% during 2022-27, owing to the surging demand for hydrogen gas for chemical processing, fuel cells, refining, petroleum recovery, fertilizers manufacturing, aerospace, etc. The growing focus on reducing greenhouse gas emissions has boosted the demand for hydrogen gas generators across the globe.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 5.8% |
| Regions Covered | North America: USA, Canada, Mexico |
| South America: Brazil, Rest of South America | |
| Europe: Germany, The UK, France, Italy, Rest of Europe | |
| Asia-Pacific: China, Japan, India, Rest of Asia Pacific | |
| Middle East & Africa: UAE, Saudi Arabia, South Arfica and Rest of Middle East & Africa | |
| Key Companies Profiled | Ener Blue, Thales Nano, Nel Hydrogen, Hitachi Zosen Corporation, Helbio, Parker Hannifin, Altergy, SilPac, PERIC Hydrogen Technologies Co. Ltd., Althea Technology, FuelCell Energy, Inc., LNI Swissgas, Giner Inc., Enapter S.r.l., Next Hydrogen, Others |
| Unit Denominations | USD Million/Billion |
In addition, countries like China, the US, India, and others have extensively invested & taken initiatives to expand hydrogen gas productions. For instance, China has involved the hydrogen industry among the six industries to focus upon for the expansion purpose in its 14th Five-Year Plan (2021-2025). Moreover, the growing need for hydrogen gas has led to the increased investment & collaboration of various hydrogen-generating companies, which has augmented the demand for hydrogen generation systems globally.
Moreover, it is predicted that the Global Hydrogen Gas Generation System market would grow significantly in the forecast period due to its eco-friendly advantages, such as zero-carbon emissions, as nations around the world have been advancing to zero-carbon energy strategies. Therefore, this area would provide an opportunity for the expansion of the Hydrogen Gas Generation System market across the globe.
Impact of Covid-19 on the Global Hydrogen Gas Generation System Market
The outbreak of the COVID-19 pandemic led to a considerable decline in the demand for Hydrogen Gas Generation Systems in 2020, owing to the halt in various industrial units. The industrial sector is a leading consumer of hydrogen gas generation systems for producing hydrogen for a variety of applications, including cooling, chemical & metal treatment, food processing by hydrolyzing fat oils, etc. Moreover, with the enforcement of lockdown measures across the globe, numerous industrial plants were temporarily closed.
Further, there was a significant decline in the electricity demand in residential, commercial, and industrial facilities around the world. This resulted in a low hydrogen requirement for the production of electricity. Aside from that, governments around the globe were compelled to reduce the business activities in order to minimize the effects of the Coronavirus, which negatively impacted the sales of hydrogen-based generators in the short run.
However, in 2021, with the resumption of industrial facilities around the world, the demand for hydrogen gas generation systems in these industrial facilities saw a gradual revival. Therefore, the impact of COVID-19 in the forthcoming years would be minimal.
