Hydrogen Generator Market Size was valued at USD 721.27 Million in 2023. The Hydrogen Generator industry is projected to grow from USD 768.16 Million in 2024 to USD 1314.89 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2024 - 2032). Increased application of hydrogen in oil & gas, refinery, and chemical industry is expected to drive the market. The element Hydrogen, which is abundantly found in the universe does not exist naturally in its gaseous state and hence it should be manufactured using hydrogen generators. There has been an on-growing demand in the production of hydrogen gas as they can be used as energy carriers, fuel cells for vehicles, and local electricity generation.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Hydrogen vehicles are powered by the electricity produced by mixing hydrogen gas and oxygen, the electric power generated is used to propel the vehicle. As the process involves only hydrogen and oxygen, the by-products are water and heat. This makes the vehicle rightly called an eco-friendly and ‘Zero-emission vehicle’. Fuel cell demand for the automotive industry is expected likely to increase the demand for the market size. In comparison, Hydrogen vehicles are highly fuel-efficient for long travels as a fully charged hydrogen vehicle can travel 300 miles whereas an electric vehicle could travel only up to 100-200 miles. By realizing the efficiency of hydrogen vehicles, California has set a goal to have above 15% of the cars in their state be zero-emission cars by 2025. They have also pledged about 200 million dollars to build 100 more refueling stations across the state.
The market segmentation, based on Product, includes On-Site and Portable. The On-Site segment held the majority share in 2021, of the market revenue. Owing to the increased development of hydrogen generators, owing to the growth of the oil and gas industry.
Based on Process, the market segmentation includes Steam Reformer and Electrolysis. The Electrolysis segment dominated the market in 2021. The Electrolysis segment is gaining popularity owing to consumers' preference for advanced products. Moreover, the rise in demand for hydrogen-rich water owing to the growing number of applications such as in the food and beverage industry is also expected to boost the market growth.
Based on Power Sources, the market segmentation includes <100 Nm3/h, 100-2000 Nm3/h, and>2000 Nm3/h. The 100-2000 Nm3/h segment dominated the market in 2021 with market growth. Due to the increased demand for portable hydrogen generators in the market. In addition, the growth of industrial hydrogen generators could be attributed to their application in various industries.
Based on Application, the market segmentation includes Chemical Processing, Petroleum Recovery, Fuel Cells, and Refineries. The Chemical Processing segment dominated the market in 2021 the market growth. The Chemical Processing segment includes the manufacturing of hydrogen through the processes such as steam methane reforming and other chemical processing techniques. Steam Methane Reforming involves the use of steam in a reaction with methane to produce hydrogen, carbon dioxide, and water.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific has the largest market share for hydrogen generation. Fuel cells are now commercially accessible in Japan for the first time. There are also proposals for a large-scale deployment of green hydrogen. To meet carbon emission limitations by 2025, the country plans to have 200,000 hydrogen fuel cell automobiles and 320 hydrogen filling stations. Asia's countries, notably India and Singapore, have initiated or plan to begin initiatives to promote the use of fuel cells in their respective markets. The major focus in these countries is on fuel cells for backup power.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Hydrogen Generator industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Hydrogen Generator industry to benefit customers and expand the market sector. The market has recently given medicine some of the most important advantages. Major market players, including Air Products and Chemicals, Linde, Air Liquide, LNI Swissgas, Hydrogenics-Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
Air Products and Chemicals produces ambient, processed, and specialized gases. It provides industrial gases and equipment to the refining, chemical, metals, electronics, manufacturing, and food and beverage sectors. The firm creates, engineers, builds, owns, and runs industrial gas projects, such as gasification projects that transform natural resources into syngas for the generation of power, fuels, and chemicals in a sustainable manner.
Also, Linde is an industrial gas and engineering services provider. It provides gas processing solutions for industries such as healthcare, electronics, manufacturing, and clean fuels. Chemicals and energy, food and beverage, electronics, healthcare, manufacturing, metals, and mining are among the end markets served by the company.
Air Liquide, in November 2023, partnered with ENEOS Corporation to speed up low-carbon hydrogen development in Japan and contribute to energy change.
For example, According to BloomEnergy in September 2023, ammonia production utilizing green hydrogen stands out as one of the alternatives that could be used to achieve a cleaner chemicals industry. The use of solid oxide Bloom Electrolyzer™ at around 700℃ is a new approach for producing hydrogen that leads to more efficient and environmentally friendly processes.
In September 2022, Lindle plc announced it would build a 35-megawatt PEM electrolyzer to produce green hydrogen in Niagara Falls, New York. Linde’s largest electrolyzer installation worldwide will produce double its green liquid hydrogen output in the U.S.
In September 2022, Siemens Energy signed an agreement with Messer Group on three clean hydrogen projects totaling 70 MW of electrolyzer capacity that have been passed for commercialization by the Spanish government.
On February 12, 2020, AFC Energy announced its global mobile generator powered by Hydrogen, which is aimed at substituting polluting diesel generators on construction sites. This new technology uses alkaline fuel cell technology developed by AFC Energy at their research facility located in Surrey, the UK. In order to suit most power demands of construction equipment, this can be scaled from 20 kW up to over 1 MW. Additionally, this application has been made possible through the ability of the technology to use ammonia as feedstock as well as being equipped with cracker units that can generate hydrogen when needed.
In April 2020, an onsite hydrogen production company, BayoTech, said it had entered into a collaborative partnership program with DLL.BayoTech and DLL are working together on a leasing program designed specifically for BayoTech’s customers interested in acquiring its generators. With such collaboration, customers would be able to have cost-effectiveness and availability of on-site low-cost hydrogen without investing highly in capital expenditure.
On-Site
Portable
Steam Reformer
Electrolysis
<100 Nm3/h
100-2000 Nm3/h
>2000 Nm3/h
Chemical Processing
Petroleum Recovery
Fuel Cells
Refinery
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 721.27 Million |
| Market Size 2024 | USD 768.16 Million |
| Market Size 2032 | USD 1314.89 Million |
| Compound Annual Growth Rate (CAGR) | 6.20% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2022 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Process, Capacity, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Air Liquide, Air Products and Chemicals, Epoch, Energy Technology, LNI Swissgas, Hydrogenics-Corporation, Idroenergy, Linde, McPhy Energy, Proton OnSite, Praxair Inc |
| Key Market Opportunities | Increased application of hydrogen in oil & gas, refinery, and chemical industry |
| Key Market Dynamics | Historical and projected market size in terms of value Technological advancement Macro economical and governing |
Hydrogen Generator Market Highlights:
Frequently Asked Questions (FAQ) :
The Hydrogen Generator market size was valued at USD 721.27 Million in 2023.
The market is projected to grow at a CAGR of 6.20% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the Hydrogen Generator market.
The key players in the market are Air Liquide, Air Products and Chemicals, Epoch, Energy Technology, LNI Swissgas, Hydrogenics-Corporation, Idroenergy, Linde, McPhy Energy, Proton OnSite, Praxair Inc.
The On-Site category dominated the market in 2021.
Chemical Processing had the largest share of the market for Hydrogen generators.
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Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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