Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Hydrogen Generation Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Hydrogen Generation Market Grow Between 2024 and 2025?
The Hydrogen Generation market has seen substantial growth recently. The market size is predicted to increase from $153.42 billion in 2024 to $164.31 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. The historical growth trend in the Hydrogen Generation market has been significant.
How Much Will the Hydrogen Generation Market Be Worth in 2029?
By 2029, the Hydrogen Generation market is projected to reach a size of $223.53 billion, growing at a compound annual growth rate (CAGR) of 8.0%.
Download the Free Sample Now:
Which Hydrogen Generation Market Drivers Are Linked to Revenue Growth?
The key Drivers in the hydrogen generation market are:
• Rise in hydrogen consumption in the industrial sector
• Hydrogen's role as a component in various chemical products
• Use of hydrogen in hydrocracking to produce petroleum products
• Overall global increase in hydrogen usage
Which Segments Are Expected to Grow in the Hydrogen Generation Market?
The hydrogen generationmarket covered in this report is segmented –
1) By Type: On-Site, Portable
2) By Source: Blue Hydrogen, Gray Hydrogen, Green Hydrogen
3) By Generation And Delivery Mode: Captive, Merchant
4) By Technologies: Steam Methane Reforming, Coal Gasification, Electrolysis, Partial Oxidation
5) By Application: Methanol Production, Ammonia Production, Petroleum Refining, Transportation, Power Generation, Other Applications
Explore the Complete Market Report:
What Are The Key Trends Impacting Growth In The Global Hydrogen Generation Market?
The key trends in the hydrogen generation market are:
• The emergence of green hydrogen production technologies is a new trend gaining traction.
• Key market players are innovating to maintain their market positioning.
• The development of catalyst-coated membrane (CCM) technology is on the rise for efficient green hydrogen production.
• The trend of reducing electrolyzer stack costs through increased efficiency and electric current density is emerging.
Who Are the Key Competitors in the Global Hydrogen Generation Market?
The key players in the hydrogen generation market are:
• Air Liquide SA
• Air Products Inc.
• Iwatani Corporation
• McPhy Energy SA
• Messer Group GmbH
• Altergy Systems
• Ballard Power Systems Inc.
• BayoTech Inc.
• Doosan Fuel Cell Co. Ltd.
• EKME S.A.
• Enapter AG
• Frame Power India Pvt. Ltd.
• Giner ELX Inc.
• Green Hydrogen Systems AS
• Greenlane Renewables Inc.
• GRZ Technologies Ltd.
• Cummins Inc.
• ITM Power PLC
• Linde PLC
• Nel ASA
• Plug Power Europe GmbH
• Proton OnSite LLC
• Siemens Energy AG
• Taiyo Nippon Sanso Corporation
• Teijin Engineering Ltd.
• Teledyne Energy Systems Inc.
• Toshiba Energy Systems & Solutions Corp.
• VRV SpA
Where Is the Hydrogen Generation Market Growing Fastest Between 2025 and 2029?
Asia Pacific was the largest region in the hydrogen generation market in 2024
