Hydrogen Generation Market Size and Forecast 2029 | TechSci Research

The Global Hydrogen Generation Market was valued at USD 170.37 Billion in 2023 and is growing at a CAGR of 4.01% during the forecast period. In the foreseeable future, regulatory pressures favoring desulfurization and reduction of greenhouse gas emissions, alongside initiatives promoting hydrogen production and utilization, are poised to propel the hydrogen generation market. Conversely, the substantial capital investment required for hydrogen energy storage may pose a restraint. Steam methane reforming is anticipated to maintain its dominance in the hydrogen market throughout the forecast period. Nonetheless, advancements in extracting hydrogen from renewable sources and expanding applications of hydrogen as a fuel are expected to unlock promising growth avenues for the hydrogen generation market.

Key Market Players

Air Liquide S.A.
Messer Group GmbH
ITM Power plc
Engie SA
Cummins Inc.
Air Products and Chemicals, Inc.
FuelCell Energy, Inc.
Nippon Sanso Holdings Corporation
McPhy Energy SA
Linde Plc
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