Global Hydrogen Generators Strategic Research Report 2023: Hydrogen 2.0 - Unlocking Major Economic Potential of Hydrogen with Forecasts to 2030
DUBLIN, Sept. 22, 2023 /PRNewswire/ -- The "Hydrogen Generators: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Hydrogen Generators Market to Reach $1.5 Billion by 2030
The global Hydrogen Generators market, valued at approximately US$1.1 billion in 2022, is projected to expand to around US$1.5 billion by 2030, reflecting a compound annual growth rate (CAGR) of 3.8% during the forecast period of 2022 to 2030. This growth trajectory is underpinned by factors such as heightened awareness of climate change issues and ongoing urbanization trends.
The market has already demonstrated steady growth from 2017 to 2022 and is expected to continue this trend from 2023 to 2030. During the 2017-2021 period, the market expanded significantly due to rising urbanization and the introduction of enhanced service offerings. The urbanization process has increased the demand for effective wastewater treatment solutions, thereby creating lucrative opportunities in the market.
Furthermore, the growing concerns about pollution and a greater emphasis on environmental conservation have contributed to market growth. The market landscape is characterized by fragmentation, with players competing based on product quality, promotional strategies, and strategic maneuvers.
In the report, the On-Site segment is expected to achieve a 3.4% CAGR and reach a market size of US$1 billion by the end of the forecast period. Considering the ongoing post-pandemic recovery, the Portable segment's growth outlook has been adjusted to a revised 4.6% CAGR over the next eight years.
The U.S. Hydrogen Generators market was estimated at US$336.6 million in 2022, while China, as the world's second-largest economy, is anticipated to reach a market size of US$82.4 million by 2030, with a CAGR of 5.3% from 2022 to 2030.
Japan and Canada are also noteworthy geographic markets, expected to grow at rates of 2.5% and 3.1%, respectively, during the 2022-2030 period. Within Europe, Germany is forecasted to achieve an approximate 3.1% CAGR.
Major companies dominating the market offer a diverse range of products and services to cater to various consumer needs. Different market segments, including On-Site, Portable, Steam Reformer, Electrolysis, Chemicals, Fuel Cells, Petroleum, and Other Applications, contribute to the overall growth prospects of the market.
Furthermore, the report provides valuable insights into key market players, including Air Liquide S.A. and Air Products and Chemicals, Inc., enabling businesses to leverage competitive advantages and make informed decisions in this dynamic market landscape.
FOCUS ON SELECT PLAYERS (Total 68 Featured)
For more information about this report visit https://www.researchandmarkets.com/r/a3nt2u
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