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North America Hydrogen Generation Market Forecast 2026 By Application (Petroleum Refinery, Chemical, Metal), By Delivery Mode (Captive, Merchant), By Process (Steam Reformer, Electrolysis), Research Report, Country Outlook (U.S., Canada, Mexico), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: June 2021 | Publisher: Graphical Research Report ID: GR1865 | Delivery : PDF  Request Free Sample

North America Hydrogen Generation Market size is estimated to witness a substantial growth rate from 2020 to 2026 impelled by rising investments toward the expansion of existing refining facilities and increasing crude oil consumption. Ongoing government incentive programs focused toward limiting the amount of sulfur content in diesel fuel, motor oil, and gasoline will foster the market outlook. Moreover, growing investment programs, rising R&D activities, and shifting consumer focus toward carbon negative fuels will boost the product demand.

North America Market, By Delivery Mode

Merchant hydrogen generation segment is projected to expand at significant CAGR till 2026 owing to rising demand for onsite generation and surging government focus for controlling emissions across the refining sector. Increasing investments across risk-free hydrogen projects, equipped with the capacity to provide hydrogen at minimal cost will energize the industry potential. Incapability of medium & small-scale industries to fund the high capital expenditure for storage & distribution of hydrogen will influence the market expansion.

North America Market, By Process

Ample accessibility of fossil fuels leading to reduced operational costs, improved economic & operational benefits will escalate the steam reformer hydrogen generation market size in North America. Rising applicability of these units across gas refineries and oil plants will drive the market growth. Strict environmental regulations to minimize the traditional fuel dependency across industrial and commercial establishments will positively sway the market scenario.

Growing power sector coupled with escalating infrastructural investments and rising logistics & transport sector will stimulate the industry revenue. Increasing demand for hydrogen-based energy resources across power generation together with its utilization in industrial and commercial establishments will propel the market growth. Ongoing enhancement and upgradation of technology features will drive the use of hydrogen in boilers.

North America Market, By Country

Canada hydrogen generation market will observe exponential rise during the forecast period due to presence of several manufacturing facilities and increasing electricity demand. Positive outlook toward the refining industry and ongoing prototype projects including supply of H2 from natural gas for the use of power plant will fuel the market share. Surging government focus toward expansion of new industrial facilities including, automotive, chemical, and power will complement the demand for hydrogen generation.

The COVID- 19 outbreak created an exceptional disturbance across the global economy and trade as production are scaled back internationally which led to delay in several project pipelines. As per WHO, corona virus has impacted over 140 countries resulting in severe international and national lockdowns. However, support from government to address long term & short -term problems faced in production by the key players will augment the industry landscape.

Competitive Industry Landscape

Eminent North America hydrogen generation market players include Air Liquide, Iwatani Corporation, Air Products, Ally Hi-Tech, NEL ASA, Ballard Power Systems, HYGER, Plug Power, Messer and Xebec Adsorption. Manufacturers are targeting at building inorganic growth ventures, collaborations, merger and acquisitions and joint ventures to achieve competitive advantage.
 

Frequently Asked Question(FAQ) :

The industry for hydrogen generation in North America is expected to grow at a significant rate through 2026 owing to the increasing crude oil consumption and the rise in investments towards the expansion of existing refining facilities.
The regional revenue from the merchant delivery mode will record an exponential CAGR up to 2026 driven by the increasing government efforts and the higher demand for onsite generation.
The market size for hydrogen generation in North America from the steam reformer process segment will grow commendably through 2026 with the need for lower operational costs during production.
The market for hydrogen generation in Canada is set to witness lucrative growth up to 2026 due to the presence of numerous manufacturing facilities and a higher electricity demand in the region.

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