This research study analyzes the market for hydrogen generator in terms of revenue (US$ Mn). The hydrogen generator market has been segmented on the basis of product type, process type, application, and capacity. For the research, 2015 has been taken as the base year, while all forecasts have been given for the period from 2016 to 2024. Market data for the segments including product type, process type, application, and capacity have been provided from 2014 to 2024. The report provides a broad competitive analysis of companies engaged in the hydrogen generator business.
The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the hydrogen generator market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the hydrogen generator market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and market profitability. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
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The high-level analysis in the report provides detailed insights into the hydrogen generator business globally. There are currently numerous drivers of the market. Some of the most prominent drivers are availability of low-cost natural gas feedstock and higher hydrogen purity percentage. Market attractiveness analysis was carried out for the hydrogen generator market on the basis different regions. Market attractiveness was estimated on the basis of common parameters that directly impact the hydrogen generator market
Increasing demand for energy and rising cost of fossil fuels are likely to propel the demand for hydrogen generators. Rise in adoption of hydrogen generators in residential, commercial, military, industrial, and other sectors is anticipated to drive growth of the hydrogen generator market. The methods of hydrogen generation include steam forming of methane and natural gas and electrolysis process. Low prices of natural gas and ease of availability are expected to augment the hydrogen generator market.
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On-site and portable hydrogen generators are likely to eliminate or reduce problems associated with transportation and delivery of hydrogen. Furthermore, on-site generation also lowers the cost of hydrogen generation as against merchant generation. Growth in the hydrogen generator market is driven by the need for adoption of cleaner fuel sources, high electricity demand, excess depletion of fossil fuels and stringent regulatory norms to minimize carbon emissions. Rapid rise in the industrial application of hydrogen gas is expected to boost the demand for hydrogen generators globally. However, distribution and transportation challenges associated with hydrogen coupled with the high cost of hydrogen as against fossil fuels may restrain growth of the hydrogen generator market. With the increasing number of refineries and petrochemical complexes coming up, the hydrogen generator market is likely to pick up in the future.