The hydrogen is clean, versatile and proficient zero emanation carrier of the energy originate profusely on the earth though it is not exist in its molecular variation. The principal raw material effectively utilized for the hydrogen generation is water which creates the introduction procedure surrounding compatible. It can be introduced as a foremost product or by product from dissimilar feedstocks.
Hydrogen is absolutely renewable fuel which can be proficiently produced and transformed into the electricity to mollify the energy demands. The hydrogen storage can be done in dissimilar variation such as liquid, gaseous and metal hydrides. In addition, the hydrogen can modify into other energy variations through the catalytic combustion, chemical conversions and hydriding. The development of the hydrogen generation market lectured desulfurization situations in the transportation fuels. The advantages such as high proficiency, lightweight, convenient transportation through pipelines and lower boiling point creates the hydrogen ideal for the industrial usage.
Additionally, the hydrogen is effectively utilized in the transportation fuels and is described as fuel of the future as it introduces the pollution free combustion products. According to the report analysis, ‘Global Hydrogen Generation Market Size study, by Technology (Steam Methane Reforming, Partial Oxidation of Oil, Electrolysis of Water and Coal Gasification), by Application (Petroleum Refinery, Methanol Production, Ammonia Production, Transportation, Power Generation, Other Applications), by Storage (On-Board Hydrogen Storage, Underground Hydrogen Storage and Power-To-Gas Hydrogen Storage), by Generation & Delivery Mode (Captive and Merchant) and Regional Forecasts 2018-2025’ states that in the worldwide hydrogen generation market, there are several potential companies which presently operating for leading the fastest market growth and registering the great value of market share around the globe throughout the short span of time while increasing the applications of the services, decreasing the price of the products and services, delivering the better consumer satisfaction and employing the young workforce includes Air Liquide, Hydrogenics, Plug Power, Ballard Power Systems, Claind, Hygear, Nuvera Fuel Cells, Proton Onsite, Teledyne Energy Systems, Showa Denko, Praxair and several others. Additionally, the foremost factors influencing the hydrogen generation market involve the growing requirement to decarbonize energy end-use, government regulation for desulphurization of refinery activities, and the effective growth in the demand for hydrogen as fuel in the transportation segment. Rising requirement of alternative fuels to decrease the greenhouse gas emission is increasing growth to the market.
According to U.S. Department of Energy, carbon emission can be decreased by 33% by replacing the fuels disbursed by industries with hydrogen. Strict guidelines on desulphurization of refinery products are predicted to fuel the hydrogen generation market. The Global hydrogen generation market is worth approximately USD 158 billion in 2017 and is predicted to increase with a healthy growth rate of more than 8.0 % over the review duration of 2018-2025. The Hydrogen Generation Market is uninterruptedly growing across the world over the upcoming years.
Furthermore, it is anticipated that the market of hydrogen generation will increase around the globe over the coming years more significantly along the handsome amount of investment for the broad advancements in the technology by the prevailing and coming players.
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Ankur Gupta, Head Marketing & Communications