Key players include companies such as Airgas Inc. (U.S.), Air Products & Chemicals Inc. (U.S.), Air Liquide SA (France), and Praxair Inc. (U.S.).
(PRWEB) October 09, 2014
The report "Hydrogen Generation Market by Geography, by Mode of Generation & Delivery, by Applications and by Technology - Global Trends & Forecasts to 2019", published by MarketsandMarkets, defines and segments the global market with an analysis and forecast of the revenue. According to the report, the market is expected grow from an estimated $103.5 Billion in 2014 to $138.2 Billion by 2019, at a CAGR of 5.9%.
Browse 88 market data tables with 43 figures spread through 150 pages and in-depth TOC on "Hydrogen Generation Market - Global Trends & Forecasts to 2019".
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Asia-Pacific: Largest Market for Hydrogen Generation
The Asia & Oceania region is estimated to be the largest market in hydrogen generation followed by Europe & Eurasia and North America. Asia & Oceania is expected to grow at a CAGR of 5.8% till 2019, followed by Europe & Eurasia along with, North America with the growth rate of 4.3% and 5.8% respectively from 2014 to 2019.
Refinery Hydrogen Production: Biggest Market by Applications
According to the report, refining industry is the biggest hydrogen consumer with 48% of the total consumption share in 2014. Ammonia industry is second with 43% share. These top two industries have consumed 91% of the total on-purpose hydrogen in 2014. According to the report, the main regions driving the growth of refinery hydrogen production are Asia & Oceania. Hydrogen has a variety of applications ranging from petroleum recovery and refining to chemical and fertilizer production, metal production and fabrication, food processing, electronics, fuel cells, pharmaceutical, aerospace, glass production, welding, and R&D labs, etc. In this report, the global on-purpose hydrogen production market is estimated to grow at a CAGR of 5.4% in 2019, during the same period. Refinery application is expected to be the highest growth contributor with a CAGR of 5.8%, followed by Methanol with 4.9%, from 2014 to 2019. According to the research report, refinery hydrogen production is projected to grow due to the increasing demand for petroleum products from the developing countries like India and China, and tightening norms to reduce the sulfur content in those regions.
Captive Hydrogen Production: By Mode of Delivery & Generation
When hydrogen is generated at the point of consumption, it is known as on-site generation. If hydrogen is not generated on-site, it is produced using a centralized plant and then delivered with the help of various delivery methods such as pipeline, cylinders, and trailers. Usually, merchant producers cater to customers with small scale hydrogen requirements. However, a small number of customers in the same segment prefer to buy hydrogen generation plants instead of buying it from third parties. According to the report, segregating these customers is very difficult; hence, all the small on-site production is clubbed under the merchant section. The report expects the merchant production market to grow at a CAGR of 9.6% whereas; the captive production market is expected to grow at a CAGR of 5.4% from 2014 to 2019.
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Nowadays, hydrogen for industrial purposes is produced by steam reforming of natural gas or methane. This production technology is widely used, due to easy availability and low prices of natural gas. Partial oxidation of petroleum oil is the second production technology. The third largest production technology, in terms of production capacity is gasification of coal. Apart from these three processes (technology), there are a number of methods by which hydrogen can be produced.
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