How Has The Hydrogen Generators Market Size Evolved In Recent Years?
The hydrogen generators market has seen considerable growth due to a variety of factors.
• The market size for hydrogen generators has seen consistent growth over the past few years. It's projected to increase from $1.2 billion in 2024 to $1.24 billion in 2025, with a compound annual growth rate (CAGR) of 3.0%.
The surge in growth during previous years has likely been a result of heightened industrial demand for hydrogen, applications within the energy sector, governmental support and subsidies, ongoing research and development, and the have emerged as a sustainable energy resource.
What Is The Projected Growth And Market Size For The Hydrogen Generators
The hydrogen generators market is expected to maintain its strong growth trajectory in upcoming years.
• The market for hydrogen generators is predicted to experience consistent expansion in the upcoming years, eventually reaching a value of $1.45 billion in 2029 at a compound annual growth rate of 4.0%.
The uptick during the forecast period can be credited to several factors including the proliferation of green hydrogen projects, industry electrification, government policies and carbon reduction goals, growth of hydrogen fuel cell vehicles, worldwide cooperation on hydrogen economy, and its integration with renewable energy sources. Noteworthy trends for the forecast period encompass technological breakthroughs in electrolysis, further development in electrolysis technologies, application of artificial intelligence (AI), and the utilization of hydrogen as an energy storage method.
Which Drivers Are Accelerating Growth In The Hydrogen Generators Market?
The hydrogen generators market is anticipated to witness significant growth as government regulations intensify over greenhouse gas emissions. The rise in global greenhouse emissions, primarily caused by fossil fuel consumption and industrialization, has paved the way for the development of hydrogen generators by major corporations. These generators produce hydrogen through electrolysis, resulting in zero greenhouse gas emissions. For example, in March 2024, the US-based Environmental Protection Agency (EPA) put forth a final rule, titled Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles, which mandated stricter standards to reduce harmful air pollutants from model year 2027 vehicles. This new regulation builds on the preceding standards for federal greenhouse gas emissions from passenger cars and light trucks covering model years 2023 to 2026. Therefore, both government and environmental entities are reinforcing regulations to mitigate greenhouse gas emissions, which in turn is fostering the expansion of the hydrogen generators market.
What Are The Main Segments Of The Global Hydrogen Generators Market?
The hydrogen generators market covered in this report is segmented –
1) By Product Type: Onsite, Portable
2) By Process: Steam Reforming, Electrolysis, Other Processes
3) By Capacity: Less Than 300 W, 300W - 1 KW, More Than 1 KW
4) By Application: Chemical Processing, Fuel Cells, Petroleum Recovery, Refining, Other Applications
Subsegments:
1) By Onsite: Electrolytic Hydrogen Generators, Steam Methane Reforming (SMR) Hydrogen Generators, Pressure Swing Adsorption (PSA) Hydrogen Generators
2) By Portable: Portable Electrolyzers, Hydrogen Generation Kits, Mobile Hydrogen Generators
Pre-Book The Hydrogen Generators Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Hydrogen Generators Market?
Leading enterprises in the hydrogen generators market are focusing on innovating products like emission-free generators to boost their market profitability. Emission-free hydrogen generators are devices that generate hydrogen gas with zero greenhouse gas emissions or damaging pollutants. In November 2023, a Swiss-based sustainable energy system manufacturer, Hitachi Energy Ltd., introduced the HyFlex. This unit, designed for flexible or permanent use, provides power in conditions where grid connections are not possible, and diesel generators aren't feasible. The medium-power version accommodates temporary setups, offering a 400–600 kVA power range, while the high-power variant is tailored for permanent deployments, delivering 1 MVA or more per unit. HyFlex operates entirely without emissions, generating AC power, usable heat, and water. It caters to numerous sectors, such as construction sites located in remote areas or those susceptible to noise and pollution. Additionally, it is ideal for remote locations, data hubs, and healthcare facilities.
Who Are the Key Players in the Hydrogen Generators Market?
Major companies operating in the hydrogen generators market include:
• Toyota Motor Corporation
• Honda Motor Co. Ltd.
• Hyundai Motor Company
• Robert Bosch GmbH
• Siemens AG
• Linde plc
• Cummins Inc.
• Air Liquide S.A.
• Johnson Matthey plc
• Air Products and Chemicals Incorporated
• Praxair Technology Inc.
• Teledyne Energy Systems Inc.
• Plug Power Inc.
• Nel Hydrogen Fuel Cells AS
• NEL ASA
• Ballard Power Systems Inc.
• Nuvera Fuel Cells LLC
• MVS Engineering Pvt. Ltd.
• Epoch Energy Technology Corporation
• McPhy Energy S.A.S.
• HELBIO S.A.
• ITM Power Ltd.
• Proton OnSite LLC
• Green Hydrogen System
• Ideroenergy Inc.
• Hy9 Corporation
• Suzhou Jingli Hydrogen Equipment Co. Ltd.
• Deokyang Co. Ltd.
What Is The Most Dominant Region In The Hydrogen Generators Market?
North America was the largest region in the hydrogen generators market in 2024. The regions covered in the hydrogen generators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
