At 5.91% CAGR, Hydrogen Generators Market Size to hit USD 1973.8 Million by 2028, Says Brandessence Market Research

At 5.91% CAGR, Hydrogen Generators Market Size to hit USD 1973.8 Million by 2028, Says Brandessence Market Research

PR Newswire

LONDON, Jan. 11, 2022

LONDON, Jan. 11, 2022 /PRNewswire/ -- The Hydrogen Generator Market size is witness robust growth at a CAGR of 5.91% during the 2021-2028 period. The Hydrogen Generators Market size reached a valuation of USD 1320.5 Million in 2021, and is likely to grow to USD 1973.8 Million by 2028 end, Analysis by Brandessence Market Research

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The hydrogen generators market landscape is a competitive, innovative, and fragmented landscape. The fragmentation in the landscape continues to drive increased collaboration, and development of various innovative products. The growing demand for hydrogen-based energy source to power the future of renewable energy remains a major promise for growth for players in the hydrogen generators market. Some key players in the hydrogen generators market are Air Liquide Air Products and Chemical Inc., Praxiar technology Inc., Linde AG., Proton On-site Inc., Hy9 Corporation, Hydrogenics Corporation, Epoch Energy Technology Corporation, MVS Engineering Pvt. Ltd., McPhy Energy SA, Nel Hydrogen, others

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Hydrogen generators are designed to meet high-end requirement for hydrogen in end-applications like gas chromatography. Hydrogen generators produce hydrogen with the use of electrolysis. The promise of hydrogen fuel cells, among others application promise robust growth for the hydrogen generators market. According to the International Energy Agency (IEA), the FCEV or Fuel Cell Electric Vehicle technology remains on a significant rise. According to the IEA, more than 40,000 electric vehicles took to the streets by the end of 2021, with more than 70% annual growth between 2017-2020. The 2021 promises another record year, with the first-half accounting for more than 8,000 sales.

Global Hydrogen Generator Market Segmentation Analysis:

The Global Hydrogen Generator Market is segmented on the basis of product type, process, capacity, application and region & country level.

By Product Type:

By Process:

By Capacity:

By Application:

News: Panasonic Launched 5 kW Type Pure Hydrogen Fuel Cell Generator

On May 26th, 2021; Panasonic Corporation has developed a pure hydrogen fuel cell generator, which generates power through a chemical reaction with high-purity hydrogen and oxygen in the air. In recent years, with the acceleration of initiatives to realize a decarbonized society, several countries and regions around the world have declared their intention to reduce their overall emissions of greenhouse gases to zero by 2050, in other words, achieving carbon neutrality. In order to achieve the goal, it is indispensable to introduce renewable energy sources such as solar, wind, geothermal, hydro, and biomass power. However, power generation using solar and wind has drawbacks such as large output variations depending on weather conditions and the lack of capabilities to adjust power generation to cope with demand.

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In October, 2021, Toyota, a leading global car maker announced that its new model 'Toyota Mirai', recorded the highest fuel-range, with a total of over 1,300 km on a single charge. The Japanese carmaker is expected to bet big on the hydrogen fuel technology. Hydrogen remains abundant in atmosphere, and also promises to solve key challenges associated with EVs, including long-charging times. The growing efficacy of real-world possibilities of hydrogen fuel cells, backed by a major automaker, and growing demand for fuel cell technology remain key drivers of growth for the hydrogen generators market.

Hydrogen Generator Market: Regional Analysis

The hydrogen generator market report covers all key regions including North America, Europe, Asia, Latin America, Middle East & Africa. These regions exhibit a wide range of opportunities, demand drivers, and challenges. Some of these are mentioned below.

UK Hydrogen Generator Market: In Jan, 2022, EasyJet, a major airline in the UK announced that it plans to use hydrogen fuel for its first commercial flight soon.  The carrier known for its low-budget offerings, among others may become the first carrier to use the hydrogen fuel technology in the UK. The company has joined hands with Cranfield Aerospace Solutions to advance the hydrogen fuel technology.

Europe Hydrogen Generator Market: EU transport commissioner Adina Vălean, noted in December, 2021, that she expects the hydrogen-based future of energy to play a prominent role in both transportation, steelmaking, and chemicals. She noted that there is a need to develop infrastructure for hydrogen-fuelling trucks, in the EU, with estimates of addition of another 60,000 hydrogen-based trucks in the EU by 2030 end. Vălean also believed hydrogen fuels can make up for as much as 10-24% of the energy use in other industries by 2050 end. 

US Hydrogen Generator Market: In December, 2021, Champaign-Urbana MTD announced that it had become the first US transit agency, with independent ability to fuel its buses, with complete renewable capabilities. The company has launched a fleet of 60-foot fuel cell-based hydrogen buses, to cater to its commercial deployment requirements. The technology was developed with a partnership of several local, state, federal, and non-profit entities.

Japan Hydrogen Generator Market: Three major Japanese corporation, including Iwatani, JGC Holdings, and Toyota have teamed up to launch hydrogen generation technology, based on industrial, and household plastic waste. The technology remains a promising area of innovation for startups, but this remains a first-of-its kind large scale initiative.

China Hydrogen Generator Market: In July, 2021, Beijing became home to world's largest hydrogen station. The new facility, owned by, Beijing Hypower Energy technology, promises to refuel 600 hydrogen fuel cell vehicles in a day, including garbage trucks, buses, cargo vans, and more. It holds the capacity of supplying nearly 5 tonnes of hydrogen supply per day.

India Hydrogen Generator Market: In August, 2021, India-based Sentient Labs, with acollaboration with Agharkar Research Institute, developed fuel-cell technology powered by agricultural residue. The technology identified some of the key roadblocks in the development of hydrogen fuel cell technology, which as the end-result only emits water, making it a promising green solution for global development of hydrogen fuel cell technology.  

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On Special Requirement Hydrogen Generator Market Report is also available for below region:

North America

Europe

Asia-Pacific

Latin America

Middle East and Africa

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