Hydrogen Generation Market Size Worth $184.11 Billion By 2028 Grand View Research, Inc.
SAN FRANCISCO, April 12, 2021 /PRNewswire/ -- The global hydrogen generation market size is expected to reach USD 184.11 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2021 to 2028. The global energy crisis has fostered research and exploration in alternative sources of energy generation and several sustainable conservation initiatives. Sustainability in energy generation is a vast field and includes numerous steps, which are required to be implemented in the primary stages, as their potential environmental and commercial impacts can be substantial.
Key suggestions from the report:
- The coal gasification technology segment is projected to expand at the highest revenue-based CAGR during the forecast period. The hydrogen generation from coal also offers environmental benefits when integrated with advanced technologies in coal gasification, carbon capture, and power production, which is expected to drive the demand for hydrogen generation via coal gasification
- The transportation application segment is expected to witness significant growth over the forecast period owing to the increasing demand for hydrogen as a vehicle fuel
- The others application segment of hydrogen generation includes chemical industry, oil refining, and iron and steel industry. The chemical sector is a major producer of by-product hydrogen, which is consumed within the sector as well as distributed for industrial use
- In January 2018, there were 39 public hydrogen fueling stations across the U.S., of which 35 were in California and 2 in South Carolina and the Northeast, respectively. Moreover, 29 and 5 public hydrogen fueling stations have been planned in California and the Northeast, respectively
Read 121 page research report with ToC on "Hydrogen Generation Market Size, Share & Trends Analysis Report By Systems Type (Merchant, Captive), By Technology (Steam Methane Reforming, Coal Gasification), By Application, By Region, And Segment Forecasts, 2021 - 2028" at:https://www.grandviewresearch.com/industry-analysis/hydrogen-generation-market