Hydrogen Generation Market worth $257.9 billion by 2028 - Exclusive Report by MarketsandMarkets™

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Asia Pacific is expected to be the fastest-growing region in the Hydrogen Generation Industry.

Asia Pacific is expected to be the fastest growing region in the Hydrogen Generation Market during the forecast period. The Asia Pacific region comprises major economies such as China, Japan, India, Australia, and South Korea. The Hydrogen Generation Market in Asia Pacific is primarily fueled by the increasing number of petroleum refineries and usage of hydrogen in these refineries. Asia Pacific is one of the leading markets for adopting green technologies to meet the government targets for reducing GHG emissions. Japan and South Korea have been heavily investing in fuel cell adoption since 2009 because of the commercial deployment of Japanese fuel cell micro-CHP products. Japan is the first nation to commercialize fuel cells and is supporting projects related to the use of fuel cells in residential and automotive applications. It aims to deploy green hydrogen on a large scale. The country plans to have 200,00 green hydrogen fuel cell vehicles and 320 hydrogen refueling stations by 2025 to meet the global carbon emission standards.

Key Market Players:

Some of the major players in the Hydrogen Generation Companies are Air Liquide (France), Linde plc (Ireland), Air Products and Chemicals, Inc. (US), Shell plc (UK), and Saudi Arabian Oil Co. (Saudi Arabia). The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, joint ventures, collaborations, investments, and expansions.

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Recent Developments

In April 2023, Linde plc signed a long-term agreement to provide Evonik, a prominent specialty chemicals company, with green hydrogen.In September 2023, Air Liquide announced plans to invest 433 million dollars to build its Normand'Hy electrolyzer with a capacity of 200 MW to decarbonize the Normandy industrial basin and mobility.In July 2023, Air Products and Chemicals, Inc. signed an agreement with Edmonton International Airport as the hydrogen and technology provider for Alberta's first hydrogen fuel cell passenger vehicle fleet.In November 2022, Air Liquide invested 140.15 million dollars to construct and operate a unit producing hydrogen at the Grandpuits site with an annual capacity of more than 20,000 tonnes.

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Related Reports:

Hydrogen Market by Sector (Generation Type (Gray, Blue, Green), Storage (Physical, Material), Transportation (Long, Short)), Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Refinery, Ammonia, Methanol)), Region - Global Forecast to 2030

Blue Hydrogen Market by Technology (Steam Methane Reforming (SMR), Gas Partial Oxidation (POX), Auto Thermal Reforming (ATR)), End User (Petroleum Refineries, Chemical Industry, Power Generation Facilities) and Region - Forecast to 2030

Green Hydrogen Market by Technology (Alkaline and PEM), Renewable Source (Wind, Solar, Geothermal, Hydropower, and Hybrid of Wind & Solar), End-Use Industry (Mobility, Power, Chemical, Industrial, Grid Injection), and Region - Global Forecast to 2027

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