Hydrogen Generation Market Suffers Massive Losses, as Oil & Gas Exploration Activities Remain Suspended amid COVID-19 Pandemic

Desulfurization of fuels has created enormous demand for hydrogen generation in developing economies such as China and India.

ROCKVILLE, MD / ACCESSWIRE / May 27, 2020 / Automobiles based on hydrogen fuel cell technology are witnessing ascending sales thereby complementing the growth of hydrogen generation market. Moreover, rising population level is augmenting the demand for more energy thereby further underlining its significance. According to Fact.MR's analysts, the global hydrogen generation market will follow robust growth curve at approximately 7.5% CAGR during the forecast period (2019-2029). Greater government incentive on clean and low-cost energy will supplement the growth of hydrogen generation market. Further, escalated efforts towards minimizing carbon emissions will bode well for market.

"Major stakeholders must engage in vertical integration strategies to ensure uninterrupted supply of raw materials," suggests Fact.MR report.

Request PDF Sample of the 170-page report on the Hydrogen Generation Market-

https://www.factmr.com/connectus/sample?flag=S&rep_id=4686

Key Takeaways of Hydrogen Generation Market Study

Captive hydrogen generation continues to be preferred by leading players, generating over 86% of total demand. 
Innovative solutions offered by major producers are the growth engine of hydrogen generation market.
North America hydrogen generation market contributes more than 1/4th of total revenue on the back of extensive gas pipeline networks. 
South Asia & Oceania will offer profitable possibilities for globally leading producers during the forecast period.

Hydrogen Generation Market – Key Drivers

Solar photovoltaics are experiencing steep decline in costs thereby favoring the growth of hydrogen generation market. 
High pollution levels in major economies of the world are necessitating the demand for hydrogen generation.
Increasing number of government initiatives for green energy will tip the scale in favor of market through the forecast period. 
Strict regulatory requirements on curbing carbon emissions are fuelling the adoption of hydrogen generation systems.

Hydrogen Generation Market – Key Impediments

Postponement of shale gas exploration activities due to COVID-19 will hinder the growth of hydrogen generation market through the pandemic. 
Relatively high price point is limiting the adoption of hydrogen generation systems.

Explore 74 tables and 243 figures of the study. Request ToC of the report at-

https://www.factmr.com/report/4686/hydrogen-generation-market

Anticipated Impact of COVID-19 on Hydrogen Generation Market

The ongoing COVID-19 pandemic has major adverse effects on the production and demand for hydrogen generation. The chemical industry is one of the worst affected industries due to the global outbreak of COVID-19. The pandemic is showing no signs of slowing down resulting in dwindling sales in Europe and North America, the hardest-hit markets. The trend is projected to continue through the latter half of 2020. Oil & gas exploration activities have been massively hit by the pandemic resulting in declining hydrogen generation. As a result, the existing reserves are being utilized to fulfill the logistic requirements of medical supplies during this outbreak. However, once the pandemic recedes, the upward growth trajectory will resume in the first half of 2021.

Competition Landscape of Hydrogen Generation Market

The hydrogen generation market is highly consolidated in nature with top players accounting for majority share in the overall market stack. Some of the other prominent players in the global hydrogen generation market that are profiled in this Fact.MR report include, but are not limited to, Teledyne Energy Systems, Proton Onsite, Nuvera Fuel Cells, Hygear, Linde, Iwatani, Hydrogenics, Air Products and Chemicals, Air Liquide, Erredue, and Praxair. Strategic acquisitions, joint ventures, and collaborations among industry leaders will be vital for hydrogen generation market in foreseeable future. Moreover, prominent players are working on solar-based hydrogen generation systems to gain competitive edge in the global market.

About the Report

This 170-page study offers in-depth commentary on the global hydrogen generation market. The study provides compelling insights on the hydrogen generation market on the basis of technology (coal gasification, steam methane reforming), system (merchant, captive), application (methanol production, ammonia production, and petroleum production) across six regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa)

Explore Fact.MR's Comprehensive Coverage Chemical & Materials Landscape

Aerospace Plastic Market – Get panoramic insights on the global aerospace plastic market through Fact.MR's report covering emerging trends, accurate qualitative and quantitative analysis for predefined projection period (2020-2030).

Dielectric Gases Market – Fact.MR's comprehensive study on the global dielectric gases market encompasses year-on-year growth analysis, market dynamics along with competitive landscape for the duration of forecast period (2020-2030).

Reinforced Thermoplastic Pipes Market – Gather 360 degree analysis on the global reinforced thermoplastic pipes market through Fact.MR's study covering prominent end-use industries, primary growth levers, key opportunities, and challenges for 2020-2030.

About Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the Chemical & Materials sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest chemicals market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

Contact:

Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
PR- https://www.factmr.com/media-release/1438/global-hydrogen-generation-market

SOURCE: Fact.MR

ReleaseID: 591606