Global On-site Hydrogen Generator Market Projected To Reach US3.32 Mn by 2023
Posted by Alok Kumar on January 9th, 2018
Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “On-Site Hydrogen Generator Market“
The vast reserves of natural gas and its availability in absolute abundance is expected to boost the adoption of on-site hydrogen generators across the U.S. region. Transparency Market Research observes, several end-users industries are demanding on-site hydrogen as they provide a cost-efficient option along with safety and security by making the operations free of hydrogen storage, cylinder handling, and routine hydrogen delivery. With this strong backing, the opportunity in the U.S. on-site hydrogen generator market is expected to be US3.32 mn by 2023 from US.78 mn in 2014, surging at a steady pace of 5.0% between 2015 and 2023.
Non-Alkaline Technology to Lead due to its Cost-Efficiency
The on-site hydrogen generators based on non-alkaline technology held a leading share of 67% in the overall market in 2014. The non-alkaline technology will continue to lead the market with a CAGR of 4.7% in the forecast period. This technology will garner bigger revenues due to the technology it uses, which is able to deliver reliable, portable, purer, and cost-effective hydrogen production.
The on-site hydrogen generators that have a flow rate of <100Nm3/h are leading the market due to their remarkable efficiency and compactness. These generators are competing with generators that have a flow rate of 100-2,000Nm3/h. In the near future, hydrogen generators that have a range of 100-2,000Nm3/h will emerge as leading generators due to their increasing adoption in various industrial verticals.
Increasing Use of Hydrogen in Industrial Applications to Provide Substantial Opportunity
The stringent environmental regulatory framework that is aimed at reducing carbon footprint is expected to boost the demand for hydrogen in making petrochemicals, fertilizers, and as an important energy carrier. The demand for hydrogen will also be felt amongst the specialty chemical manufacturers and refiners for meeting the production levels of cleaner products. All of these factors are expected to propel the installations of on-site hydrogen generators across the U.S.
The rise of the on-site hydrogen generator market in the U.S. will also be driven by the need for reducing the dependency on conventional sources of energy and adopting cleaner fuel sources. The decreasing quality of crude oil will also be responsible for the emergence of this market in the near future. The increasing usage of hydrogen in various industrial applications will also provide a massive boost to the overall market.
The non-alkaline on-site hydrogen generators are known to use steam reforming technology and proton exchange membrane (PEM) electrolysis. These generators are especially being preferred for applications such as reducing gas chromatography, metals, and annealing as they need pure hydrogen, which is achievable through PEM electrolysis.
Some of the important players operating in the U.S. on-site hydrogen generator market are Praxair Technology, Inc., Nuvera Fuel Cells, Inc., Air Liquide, Air Products and Chemicals, Inc., Hy9 Corporation, Proton OnSite, Inc., Hydrogenics, and Linde AG. The competition in the overall market in quite cutthroat due to the existence of just a few players. In the coming years, companies will try to enter new markets with strategic alliances to meet the hydrogen needs of the remote areas. Furthermore, the trajectory of this market will also be decided by the strategies adopted by these players such as optimum usage of resources and production capacity.
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About the AuthorAlok Kumar
Joined: January 9th, 2018
Articles Posted: 116
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