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Hydrogen Generation Market Size to Reach $263.5 Billion by 2027 | Siemens, Linde plc, ENGIE, Air Liquide, Air Products Inc.

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Hydrogen Generation Market Size to Reach $263.5 Billion by 2027 | Siemens, Linde plc, ENGIE, Air Liquide, Air Products Inc.

August 23
04:32 2022
Hydrogen Generation Market Size to Reach $263.5 Billion by 2027 | Siemens, Linde plc, ENGIE, Air Liquide, Air Products Inc.
The global hydrogen generation market is dominated by a few globally established players such as Siemens (Germany), Linde plc (Ireland), ENGIE (France), Air Liquide (France), and Air Products Inc. (US).
The factors driving the growth for hydrogen generation market is Increasing hydrogen demand in the petroleum refineries and rising demand for hydrogen in transportation and power generation applications.

According to a research report Hydrogen Generation Market by Technology (SMR, POX, Coal Gasification, Electrolysis), Application (Refinery, Ammonia Production, Methanol Production, Transportation, Power Generation), Source (Blue, Green, Gray), Generation Mode, Region – Forecast to 2027″ published by MarketsandMarkets, the global hydrogen generation market is projected to reach USD 263.5 billion by 2027, at a CAGR of 10.5% between 2022 to 2027. The factors driving the growth for hydrogen generation market is increasing hydrogen demand in the petroleum refineries and for the application of transportation and electricity sectors.

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Green Hydrogen is estimated to be the fastest growing in the source segment.

The hydrogen generation market, by source, is segmented into Blue hydrogen, Gray hydrogen and Green hydrogen. Green hydrogen is estimated to have the largest market share and is expected to grow at the highest rate during the forecast period. The higher growth rate of this segment is because it is considered as useful fuel and emits low-carbon while generation.

The petroleum refinery segment is expected to be the most significant hydrogen generation market, by application.

The hydrogen generation market, by application, is segmented into Refinery, Ammonia Production, Methanol Production, Transportation, Power Generation. The petroleum refinery segment accounted for the largest share of 10.7% of the hydrogen generation market in 2021. The rising applications of hydrogen in oil refineries to foster demand for hydrogen is expected to drive the petroleum refineries segment during the forecast period.

Asia Pacific is expected to be fastest growing region the global hydrogen generation market

The Asia Pacific is estimated to be the fastest market for the hydrogen generation market, followed by North America. The North America is projected to be the second fastest-growing market during the forecast period. The oil refining and chemical industries and transportation and electricity sectors are experiencing significant demand for hydrogen in this region.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the hydrogen generation market. These players include Siemens (Germany), Linde plc (Ireland), ENGIE (France), Air Liquide (France), and Air Products Inc. (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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