Hydrogen Generation Market Revenue, Trends, Growth Factors, Region and Country Analysis & Forecast To 2032
The hydrogen generation market size was USD 135 Billion in 2021 and is expected to register a revenue CAGR of 9.8% during the forecast period, according to the latest analysis by Emergen Research. Rising demand from the transportation sector is a key factor driving growth of the market. Development of green hydrogen production methods is a key trend that is expected to create opportunities for the global market. Hydrogen is currently produced using various processes including steam methane reforming, partial oil oxidation, coal gasification, and water electrolysis. Majority of hydrogen produced today is used in petroleum refineries and fertilizer production out of which 90% is derived from fossil fuel reformation and is the most cost-effective way. However, because CO 2 is emitted in the process, there are no meaningful climatic advantages. Green hydrogen is produced by electrolysis of water using renewable energy sources such as onshore and offshore wind and solar power. Green h...