The global hydrogen generation market is estimated to expand at ~7.80% CAGR during the forecast period. Hydrogen is the most abundantly available elements in our universe. It is present in the atmosphere in the gaseous state. At present, the most dominant technology for hydrogen production is steam reforming. Other hydrogen generation methods include electrolyzing and thermolysis. According to International Energy Agency (IEA), in June 2018, France announced its Hydrogen Deployment Plan for Energy Transition which includes targets for hydrogen deployment (including 20-40% green hydrogen production) and a reduction of electrolysis cost to 2-3 Euro per kg by 2028. This would contribute to the growth of hydrogen generation market during the forecast period.

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The growing demand for hydrogen generation market is attributed to the need for cleaner energy to reduce carbon emission and government regulations for desulphurization of refinery activities. Hydrogen plays an important role in the crude oil refining operations as it is required in several units for the desulphurization and upgrading of various oil fractions. This would boost the growth of hydrogen generation market. One of the major restraints for the global hydrogen generation market is the high energy consumption of hydrogen generation technologies.

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Segmentation
Global hydrogen generation market has been segmented based on generation & delivery type, storage, application, and region. The global hydrogen generation market is further segmented based on generation and delivery type, including captive and merchant. Captive hydrogen is estimated to grow at a faster rate as it eliminates numerous problems linked to conveyance and distribution of hydrogen. Based on application, the market is classified into petroleum refinery, ammonia production, methanol production, transportation, power generation, and others. The transportation segment is expected to be the fastest growing application segment due to the growing demand for fuel cell based electric vehicles and buses especially in Asia Pacific and North America regions.

Key Players
The key players of global hydrogen generation market are Praxair, Inc. (US), Air Liquide S.A. (France), Air Products and Chemicals, Inc. (US), Hydrogenics (Canada), Iwatani (Japan), Messer Group (Germany), Plug Power (US), Linde (US), Showa Denko (Japan), Ballard Power systems (Canada), and Fuelcell Energy (US), among others.

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