Global Hydrogen Generation Market 2022 intelligence by Players: Air Liquide S.A.,Cummins Inc.,Linde plc, etc. The global hydrogen generation market is predicted to be valued at $212,877.4 million by 2028, surging from $126,200.0 million in 2020, at a noteworthy CAGR of 6.9%. Global Hydrogen Generation Market Analysis The growing popularity of green hydrogen projects across the world that could save 830 million tons of CO2 emitted annually by burning of fossil fuels is a major driver for hydrogen generation market growth. Green hydrogen is produced via electrolysis of renewable energy sources such as solar and wind power which involves breaking down of water molecules into hydrogen and oxygen. Hence, it is a clean energy source that emits only water vapor as a by-product and leaves no harmful residue in the air such as greenhouse gases. Hence, green hydrogen production process is 100% sustainable that can help economies in achieving carbon neutrality goals. Access an Exclusive PDF Sample of Hydrogen Generation Market@ https://www.researchdive.com/download-sample/3647 Global Hydrogen Generation Market, Segmentation The global hydrogen generation market is segmented based on source, type, technology application, end-use industry, and region. Type: The technology segment is further classified into merchant and captive. Among these, the merchant hydrogen generation sub-segment is anticipated to have a dominant market share and shall surpass $138,331.3 million by 2028, with an increase from $80,101.7 million in 2020. Merchant hydrogen is produced by one company for sale to another. Merchant hydrogen provides hydrogen to various industrial processes and can be used in jet fuel, metals, plastics, gasoline, pharmaceutical, food oil, and fertilizer manufacturing processes. The merchant hydrogen which is generated in a central production facility or at site is sold to the consumers via bulk tank, pipeline, or cylinder truck delivery. For instance, in the U.S. more than 80% of the merchant hydrogen produced is sold to refineries for naphtha hydrotreating, hydrocracking, fluid catalytic cracking (FCC), ultra-low sulfur diesel hydrotreating, and others. Application: The application segment is further classified into oil refining, chemical processing, iron & steel production, and others. Among these, the oil refining sub-segment is anticipated to have a dominant market share and shall surpass $87,682.7 million by 2028, with an increase from $49,313.4 million in 2020. Hydrogen has wide range of application in oil refining process where refineries use hydrogen to lower sulfur content from the diesel fuel. The demand for hydrogen has increased in oil refineries sector owing to rise in demand for diesel fuel both domestically and internationally. Most of the hydrogen required by oil refineries is procured from merchant suppliers rather than producing it on-site. At present, the oil refineries are being compelled to dig deeply into the dregs of remaining resources due to which it is necessary to reduce the sulfur content from these crudes. Hence, hydrogen plays a critical role in converting this poor-quality crude oil into lighter crudes to meet the market demand and environmental regulations. End-use Industry: End-use industry segment is further classified into transportation, power generation, and buildings. Among these, the transportation sub-segment is anticipated to have a dominant market share and shall surpass $135,592.9 million by 2028, with an increase from $76,445.7 million in 2020. Hydrogen is widely used in transportation sector in the form of hydrogen fuel cells. In hydrogen fuel cells, the electricity is produced onboard the vehicle through chemical process without combustion. Also, with the hydrogen fuel cells, vehicles can travel a range of 300-400 miles on a single tank of hydrogen and it can be refueled in three-five minutes. Hence, these fuel cells support emission free driving of an electric vehicle with the convenience and efficiency similar to an internal combustion engine. Also, these fuel cell electric vehicles (FCEVs) are three to four times more efficient than conventional vehicles and can be produced renewably via electrolysis of water. Triangulate with your own data of Hydrogen Generation Market@ https://www.researchdive.com/request-for-customization/3647 Key Players in the Global Hydrogen Generation Market Some of the leading hydrogen generation market players are Air Liquide S.A. Cummins Inc. Linde plc Air Products and Chemicals, Inc. Iwatani Corporation Engie SA ITM Power plc Messer Group Showa Denko Uniper SE. Post COVID-19 Impacts on Hydrogen Generation Market, Get in touch with Expert Analyst@ https://www.researchdive.com/connect-to-analyst/3647