Hydrogen Generation In Petroleum Refining Offers The Most Remunerative Growth Opportunities With A Stupendous 9% CAGR By 2029

Chemical & Materials

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The report offers actionable and valuable market insights of Merchant Hydrogen Generation. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Merchant Hydrogen Generation Market across various industries and regions.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Merchant Hydrogen Generation market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Merchant Hydrogen Generation

Key Takeaway of Hydrogen Generation Market Study

  • Steam methane reform will grow more than two-fold during the projection period. The technology segment accounts for a majority share of over 68% of the total market value. The crucial role of steam reforming in large-scale supply of fuel for hydrogen fuel cells acts as a major factor for growth in this segment.
  • On the back of thermal efficiency and negligible carbon emission, coal gasification technologies for hydrogen generation account for the second largest market value share of over 30%. The segment offers attractive revenue prospects with a stellar 8% CAGR through 2029.
  • Surging demand for biodiesel, organic synthesis that employs methanol as a fuel, solvent, and antifreeze element, will make this application segment account for more than 40% of the total market value. The segment shows a strong growth trajectory.
  • Application of hydrogen generation in petroleum refining offers the most remunerative growth opportunities with a stupendous 9% CAGR during the projection period. Increasing emphasis on clean energy and desulphurization of fuel drive growth in this segment.
  • Captive hydrogen generation systems are gaining popularity owing to energy efficiency and decreased carbon emissions of the system type. Captive hydrogen generation systems account for a lion’s share of ~86% of the total market value with an equally impressive growth rate.
  • Merchant systems however exhibit a double digit growth rate of more than 10% CAGR during the projection period. Favorable gas-pipeline infrastructure development will attract customers through 2029.

Global Hydrogen Generation Market: In-Depth Assessment on Key Segments

The global hydrogen generation market is segmented on the basis of technology, system, application and region.

  • By Technology :
    • Coal Gasification
    • Steam Methane Reforming
    • Others
  • By System :
    • Merchant
    • Captive
  • By Application :
    • Methanol Production
    • Ammonia Production
    • Petroleum Refining
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

Strategic Partnerships to Shape Competition

Market players are targeting countries with a high-adoption rate of hydrogen fuel cell automotive. Governments with proposed investments in developing hydrogen refueling stations are popular target regions among major players. The market is consolidated with tier-1 players accounting for a majority of revenue share.

These organizations are forging strategic partnerships, merging and acquiring local players in key growth areas. Value additions in terms of footprint expansion, disruptive technologies such as solar based hydrogen generation systems garner the most profitable company valuations for local players.

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