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 rising demand for hydrogen in transportation and power generation applications.
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). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their presence in the global market.
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Linde plc (Ireland) held the majority of the global hydrogen generation market share in 2020. Siemens Energy is increasing its market presence and is in process of making a strong foothold across the global hydrogen generation market. Air Products Inc. (US), followed in second place in the hydrogen generation market. The company has been consistently showcasing an increase in its annual revenue over the last few years, due continuous expansion in its product portfolio. Air Liquide (France) is considered to have the third largest share in the global hydrogen generation market. The company continuous to invest considerable in the R&D activities. The company has a strong presence across the globe.
Linde plc (Ireland) is a global leader in the energy business. Linde plc is a major provider of industrial gases along with designing, engineering, and manufacturing of the equipment used in the production of industrial gases. The company operates through four business segments providing building solutions, namely, Americas, EMEA, APAC, Engineering and other. In October 2021, Linde plc started a new hydrogen production facility in Texas, bringing the total hydrogen capacity of US Gulf Coast approximately to 1.5 billion cubic feet per day. Linde plc is a global leader providing industrial gases and high-quality engineering solutions, technologies, and services. It is the largest industrial gas firm globally in terms of market share and revenue. The company operates through five business segments: Americas, EMEA, APAC, Engineering, and Other. It serves customers from the healthcare, petroleum refining, manufacturing, food, beverage carbonation, fiber optics, aerospace, chemical, electronics, and water treatment verticals.
Another important player in the hydrogen generation market is Air Products Inc. Air Products Inc is a leading global industrial gases company by providing its services in for developing development, engineering, building, owning, and operating industrial gas projects. The company has five business segments: Industrial Gases– Americas, Industrial Gases– EMEA, Industrial Gases– Asia, Industrial Gases– Global, and Corporate and Other. The company offers products, services, and solutions for to produce atmospheric, gases, process, & and specialty gases and, equipment, and related services.
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
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