North American Hydrogen Generation Market size is predicted to cross USD 32 billion by 2026, according to a latest forecast report by Graphical Research.
North America Industry growth is owing to increasing demand for crude oils and ongoing refurbishment of refining facilities. Rising demand for hydrogen-based fuels coupled with surging utility across industrial establishments will positively sway the industry growth. Introducing several incentive programs aiming toward limiting the sulfur content in gasoline, diesel fuel, and motor oil will drive the business outlook.
Increasing applicability across pharmaceuticals & steel making along with the rising demand for fuel cells across transport sector will boost the market growth. Upgrading captive generation facilities and ability to provide minimal cost hydrogen for supply escalates its utilization across industrial and commercial applications. Rising investment across green hydrogen projects together with the ability to supply hydrogen will boost the industry outlook.
Electrolysis based hydrogen generation industry will see an upsurge owing to the ability of these units to generate hydrogen from renewable resources. Rising demand for hydrogen across logistics and aviation sector along with wide scale utilization across data centers will in turn propel the business scenario. Moreover, beneficial tax credit policies and duty drawback schemes focused at minimizing the fossil fuel dependency from various industries is set to accelerate the industry landscape. For instance, the U.S. Department of Energy has set cost contributions and technical targets and for hydrogen production from water electrolysis.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
Petroleum refineries-based segment is anticipated to grow on account of increasing petroleum demand and its by-products concerning with urgency to serve the requirements of population. Stringent emission mandates & environmental laws coupled with surging demand for hydrogen will positively influence the business scenario. Favorable government incentive schemes focusing at minimizing the reliability on fossil fuels across all industrial sector will augment the business scenario.
U.S. industry is set to witness significant rise due to rapid population growth and rising use of hydrogen across industrial establishments. Expansion of various industries including chemical, automotive and biological production will foster the business outlook. Increasing demand for hydrogen-based fuels across power generation and commercial sector will complement the business landscape.
The market for hydrogen generation in North American research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2015 to 2026 for the following segments:
North America Market, By Delivery Mode
North America Market, By Process
- Steam Reforming
North America Market, By Application
- Petroleum Refining
The above information has been provided for the following countries: