Asia-Pacific Hydrogen Generation Market Outlook, 2027

Asia-Pacific Hydrogen Generation Market will grow at a 7.06% CAGR by 2027. China is projected to occupy more than half the market share during the forecast period.

Featured Companies

  • 1. Engie
  • 2. Cummins Inc.
  • 3. Ballard Power Systems Inc.
  • 4. Plug Power Inc.
  • 5. Messer Group GmbH
  • 6. LNI Swissgas SA
  • More...

Although hydrogen is the most abundant element on earth, it generally does not exist in a free state and needs to be extracted from its compounds, such as water and natural gas. One of the reasons for hydrogen's being a valuable energy carrier is its diverse production methods. In the Asia-Pacific region, there is a broad range of commitment across the government and private sectors to support the potential of hydrogen in various sectors. The Asia-Pacific region heavily relies on fossil fuels and the overall energy demand is projected to continue to grow during the forecast period. In line with the Paris Agreement, there has been a regional push to reduce greenhouse gases and to lower local environmental pollution. Strong government and commercial support, coupled with technological enhancements across the Asia-Pacific region, point towards the promising prospects for the development of clean hydrogen across the region. On the supply side, the Asia-Pacific region holds the potential for hydrogen exports due to plentiful access to renewable resources in high demand centers. For instance, Australia is considered a potential exporter of hydrogen owing to its geographical proximity, existing infrastructure, and abundance of renewable resources. In 2019, the governments of the region established "The Asia-Pacific Hydrogen Association," which is leading the hydrogen industry across various developing economies in this region.

According to the research report, "Asia-Pacific Hydrogen Generation Market Outlook, 2027," published by Bonafide Research, the hydrogen generation market is anticipated to grow at a 7.06% CAGR in terms of value during the forecast period. The region remains a high-potential market as it is the fastest expanding region for energy demand and renewable growth over the coming time period. This potential also provides a possible secondary use for excess power generation from hydrogen as a form of energy storage. The Asia-Pacific hydrogen generation market is segregated into five prominent countries, including China, Japan, India, South Korea, and Australia. Among these countries, China is projected to occupy more than half the market share during the forecast period.



According to the New Energy Vehicle Industry Development Plan released by the China State Council, China has stepped up its investments in clean hydrogen and has announced initiatives for hydrogen usage. China is the largest producer of hydrogen compared to other countries. Also, China is aiming to focus on expanding the use of hydrogen in heavy transportation and developing infrastructure for the same. From the research, it has been found that during 2016–2019, the number of hydrogen refuelling stations doubled every year. By the end of 2020, more than 80 hydrogen refuelling stations will have been put into operation across the country. On the other hand, Japan has the greatest number of hydrogen refueling stations of any country across the globe. Japan accounts for more than 150 hydrogen stations in the Asia-Pacific market. Due to increasing regulations for carbon emissions across the region, demand for clean hydrogen fuel is increasing across the region.

According to the report, the Asia-Pacific hydrogen generation market is segmented into three technology types, including steam methane reforming technology, coal gasification, electrolysis, and oil/refining or auto-thermal reformation. Among these types, steam methane reforming technology is projected to lead the market with more than 60% of the market share during the forecast period. SMR is a mature technology that has been used for hydrogen production for decades. Currently, the Asia-Pacific region holds the majority share of the world-wide steam methane reforming market. As it is the most economical method for hydrogen generation, it holds the highest market share in the Asia-Pacific hydrogen generation market. Further, based on the application, the Asia-Pacific hydrogen generation market is segmented into various types, including methanol production, ammonia production, petroleum refinery, transportation, power generation, steel and iron production, commercial use, semiconductors, LEDs, displays, photovoltaic segments, and other electronics. Methanol and ammonia production applications are anticipated to occupy more than 45% of the market share in the Asia-Pacific market. On the other hand, the transportation sector is the fastest growing segment in the Asia-Pacific market.

COVID-19 Impact:
The spread of COVID-19 is an unprecedented health crisis across the globe that has impacted nearly every business. Also, the long-term consequences are expected to influence industry growth throughout the projection period. The Asia-Pacific region has also been heavily impacted due to the COVID-19 pandemic. The outbreak has resulted in changes in consumer behavior and demand, purchasing patterns, supply chain rerouting, current market dynamics, and government engagement. Also, economic insecurity caused by the pandemic has triggered the public as well as private investors to reconsider their investment decisions in terms of taking up new construction-based projects. However, various governments across the region are focusing on implanting new regulations and incentives to increase the adoption of eco-friendly technology.

Major Companies present in the market:
Hydrogenics Corp (HYGS), Messer Group GmbH, LNI Swissgas SA, McPhy Energy S.A., Linde Plc, Air Products and Chemicals, Inc., Air Liquide, Ally Hi-Tech Co., Limited, INOX-Air Products Inc., Weldstar, Inc., Uniper, Plug Power, ENGIE, Iwatani Corporation, Ballard Power Systems, Nel Hydrogen

Considered in this report
• Geography: Asia-Pacific
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Asia-Pacific Hydrogen Generation Market with its value and forecast along with its segments
• Country wise Hydrogen Generation market analysis
• Application wise Hydrogen Generation distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• China
• Japan
• India
• Australia
• South Korea

Technical types of Hydrogen Generation in the report:
• Steam Methane Reforming
• Coal Gasification
• Others (Electrolysis, oil/refining or auto-thermal reformation)

By Application Type in the report:
• Methanol Production
• Ammonia Production
• Petroleum Refinery
• Transportation
• Power Generation
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to chemical industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Companies Mentioned

  • Engie
  • Cummins Inc.
  • Ballard Power Systems Inc.
  • Plug Power Inc.
  • Messer Group GmbH
  • LNI Swissgas SA
  • McPhy Energy S.A.
  • Linde Plc
  • Air Products and Chemicals, Inc.
  • Air Liquide
  • Ally Hi-Tech Co.,Limited
  • UNIPER
  • IWATANI
  • NEL HYDROGEN

Table of Contents

  • Table of Contents
  • 1. Executive Summary
  • 2. Report Methodology
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Market Definition
  • 4. Economic /Demographic Snapshot
  • 5. Global Top Natural Gas Producing Countries
  • 6. Global Top Coal Producing Countries
  • 7. Global Hydrogen Generation Market Outlook
  • 7.1. Market Size
  • 7.1.1. By Value
  • 7.1.2. By Volume
  • 7.2. Market Share
  • 7.2.1. By Region
  • 7.2.2. By Country
  • 7.2.3. By Technology
  • 7.2.4. By Application
  • 7.2.5. By System Type
  • 7.2.6. By Energy Source
  • 7.2.7. By Color Code
  • 8. Asia-Pacific Hydrogen Generation Market Outlook
  • 8.1. Market Size
  • 8.1.1. By Value
  • 8.1.2. By Volume
  • 8.2. Market Share
  • 8.2.1. By Country
  • 8.2.2. By Technology
  • 8.2.3. By Application
  • 8.3. China Hydrogen Generation Market Outlook
  • 8.3.1. Market Size by Value
  • 8.3.2. Market Share
  • 8.3.2.1. By Technology
  • 8.3.2.2. By Application
  • 8.4. Japan Hydrogen Generation Market Outlook
  • 8.4.1. Market Size by Value
  • 8.4.2. Market Share
  • 8.4.2.1. By Technology
  • 8.4.2.2. By Application
  • 8.5. India Hydrogen Generation Market Outlook
  • 8.5.1. Market Size by Value
  • 8.5.2. Market Share
  • 8.5.2.1. By Technology
  • 8.5.2.2. By Application
  • 8.6. Australia Hydrogen Generation Market Outlook
  • 8.6.1. Market Size by Value
  • 8.6.2. Market Share
  • 8.6.2.1. By Technology
  • 8.6.2.2. By Application
  • 8.7. South Korea Hydrogen Generation Market Outlook
  • 8.7.1. Market Size by Value
  • 8.7.2. Market Share
  • 8.7.2.1. By Technology
  • 8.7.2.2. By Application
  • 9. Market Dynamics
  • 9.1. Market Drivers
  • 9.2. Market Challenges
  • 10. Market Trends and Developments
  • 10.1. XXXXXX
  • 10.2. XXXXXX
  • 10.3. XXXXXX
  • 10.4. XXXXXX
  • 11. Company Profiles
  • 11.1. Cummins
  • 11.2. Messer Group GmbH
  • 11.3. LNI Swissgas SA
  • 11.4. McPhy Energy S.A.
  • 11.5. Linde Plc
  • 11.6. Air Products and Chemicals, Inc.
  • 11.7. Air Liquide
  • 11.8. Ally Hi-Tech Co.,Limited
  • 11.9. Uniper
  • 11.10. Plug Power
  • 11.11. ENGIE
  • 11.12. Iwatani Corporation
  • 11.13. Ballard Power Systems
  • 11.14. Nel Hydrogen
  • 12. Strategic Recommendations
  • 13. Disclaimer

List of Tables
Table 1: Top 10 Counties Economic Snapshot 2020
Table 2: Economic Snapshot of Other Prominent Countries 2020
Table 3: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 4: Global Natural Gas Producing Countries (2021) (In Billion cubic meters)
Table 5: Global Coal Producing Countries (2021) (In Million tonnes)
Table 6: Global Hydrogen Generation Market Share By Volume By Region (2016, 2021&2027F)
Table 7: Global Hydrogen Generation Market Share By Volume By Country
Table 8: Asia-Pacific Hydrogen Generation Market Share By Volume By Country (2016, 2021&2027F)
Table 9: Key Facts of Cummins
Table 10: Key Facts of Messer Group GmbH
Table 11: Key Facts of LNI Swissgas SA
Table 12: Key Facts of McPhy Energy S.A.
Table 13: Key Facts of Linde Plc
Table 14: Key Facts of Air Products and Chemicals, Inc.
Table 15: Key Facts of Air Liquide
Table 16: Key Facts of Ally Hi-Tech Co.,Limited
Table 17: Key Facts of Uniper
Table 18: Key Facts of Plug Power
Table 19: Key Facts of ENGIE
Table 20: Key Facts of Iwatani Corporation
Table 21: Key Facts of Ballard Power Systems
Table 22: Key Facts of Nel Hydrogen

List of Figures
Figure 1: Global Hydrogen Generation Market Size By Value 2016 to 2027F (In USD Billion)
Figure 2: Global Hydrogen Generation Market Size By Volume 2016 to 2027F (In MMT-Million metric tonnes)
Figure 3: Global Hydrogen Generation Market Share By Volume By Technology (2016, 2021&2027F)
Figure 4: Global Hydrogen Generation Market Share By Volume By Application (2016, 2021&2027F)
Figure 5: Global Hydrogen Generation Market Share By Volume By System Type (2016, 2021&2027F)
Figure 6: Global Hydrogen Generation Market Share By Volume By Energy Source (2016, 2021&2027F)
Figure 7: Global Hydrogen Generation Market Share By Volume By Color Code Type (2016, 2021&2027F)
Figure 8: Asia-Pacific Hydrogen Generation Market Size By Value 2016 to 2027F (In USD Billion)
Figure 9: Asia-Pacific Hydrogen Generation Market Size By Volume 2016 to 2027F (In MMT-Million metric tonnes)
Figure 10: Asia-Pacific Hydrogen Generation Market Share By Volume By Technology (2016, 2021&2027F)
Figure 11: Asia-Pacific Hydrogen Generation Market Share By Volume By Application (2016, 2021&2027F)
Figure 12:China Hydrogen Generation Market Size By Value 2016 to 2027F (In USD Billion)
Figure 13: China Hydrogen Generation Market Share By Volume By Technology (2016, 2021&2027F)
Figure 14: China Hydrogen Generation Market Share By Volume By Application (2016, 2021&2027F)
Figure 15: Japan Hydrogen Generation Market Size By Value 2016 to 2027F (In USD Billion)
Figure 16: Japan Hydrogen Generation Market Share By Volume By Technology (2016, 2021&2027F)
Figure 17: Japan Hydrogen Generation Market Share By Volume By Application (2016, 2021&2027F)
Figure 18: India Hydrogen Generation Market Size By Value 2016 to 2027F (In USD Billion)
Figure 19: India Hydrogen Generation Market Share By Volume By Technology (2016, 2021&2027F)
Figure 20: India Hydrogen Generation Market Share By Volume By Application (2016, 2021&2027F)
Figure 21: Australia Hydrogen Generation Market Size By Value 2016 to 2027F (In USD Billion)
Figure 22: Australia Hydrogen Generation Market Share By Volume By Technology (2016, 2021&2027F)
Figure 23: Australia Hydrogen Generation Market Share By Volume By Application (2016, 2021&2027F)
Figure 24: South Korea Hydrogen Generation Market Size By Value 2016 to 2027F (In USD Billion)
Figure 25: South Korea Hydrogen Generation Market Share By Volume By Technology (2016, 2021&2027F)
Figure 26: South Korea Hydrogen Generation Market Share By Volume By Application (2016, 2021&2027F)
Figure 27: Market Attractiveness Index, 2021
Figure 28: Market Attractiveness Index, 2027F

Feed Phosphate Market Research FAQs

China is the largest producer of hydrogen today, at about 25 million tons (Mt), or roughly a quarter of the global total. Most of the volume is produced from fossil fuels (60 percent from coal, and 25 percent from natural gas) as feed-stocks in refineries or chemical facilities.

At the end of 2020, more than 540 hydrogen refueling stations were in operation worldwide, an increase of more than 15% from 2019. Japan remained the leader with close to 140 stations, followed by Germany (90) and China (85).

China consumes and produces more hydrogen than any other country – its current annual usage is more than 24 million tones. Emissions-free “green” hydrogen is generated using renewable energy.

SMR technology is leading the Asia-Pacific market by 2027.

China is leading the Asia-Pacific market during the forecast period.

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Asia-Pacific Hydrogen Generation Market Outlook, 2027

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