Canada Hydrogen Generation Market Overview, 2027

Hydrogen is a substance that is tasteless, colourless, and odourless, and it is also a substance that is able to generate the cleanest energy on the planet. Hydrogen exists in large quantities on Earth in conjunction with other elements such as water (H2O) and hydrocarbons, but it makes up only 0.00005 percent of our atmosphere. Hydrogen is usable in energy generation and also has capabilities for storing and distributing it. Hydrogen is extracted from different elements with the help of different methods like the steam methane reforming process, coal gasification process, electrolysis process, and biomass process. As a raw material, natural gas and coal, like fossil fuel, are used to get hydrogen. But in the process of hydrogen generation, many harmful gases are also produced, like CO2. In recent times, carbon emissions have reached 36.3 billion tonnes. According to the report titled "Canada Hydrogen Generation Market Overview, 2027" published by Bonafide Research, the Canadian hydrogen generation market is anticipated to grow with a CAGR of nearly 3.5% in the forecast period. As Canada is a world leader in renewable energy generation, the demand for hydrogen generation is also increasing in a variety of applications like methanol production, ammonia production, power generation, and transportation. In the transportation segment, EVs and FCEVs are dominating the future of mobility. It is a revolution in the segment, but as of now, petroleum refineries are consuming the highest amount of hydrogen and producing ammonia as well. Canada is one of the world's major hydrogen generators. Canadian companies have developed technology to manufacture hydrogen in a clean and cost-effective manner utilising fossil fuels, methanol, biomass, renewable energy sources such as solar, wind, and hydroelectric power, or waste hydrogen captured from industrial by-products. According to Clean Energy Canada, around half the amount of hydrogen is produced from fossil fuel and the rest is produced by oil and gas. An electrolyser is a new technology in the market which helps to generate clean hydrogen and is very popular in the merchant market. When one molecule of CO2 is created, four molecules of hydrogen (H2) are produced as well, with the additional hydrogen coming from steam. As a result, every million standard cubic feet (SCF) of hydrogen created from methane produces 250,000 SCF of CO2. The hydrogen produced by this method of methane is also called "grey hydrogen." The process of steam methane reformation (SMR) produces blue hydrogen from natural gas. SMR combines natural gas with very hot steam in the presence of a catalyst, resulting in hydrogen and carbon monoxide as a result of a chemical reaction. Green hydrogen is produced by utilising renewable energy to split water into hydrogen and oxygen. "Green hydrogen" is a step in the right direction toward real sustainability. Green hydrogen is a step closer to true sustainability. This type of hydrogen is produced in a completely different way than grey or blue hydrogen. Electrolysis is a method of producing hydrogen that involves "breaking" water molecules in an electrolyze with an electric current to extract the green hydrogen molecule H2. The COVID-19 impacts: The COVID-19 is a disruptor in the world of energy generation systems. Carbon emissions decrease drastically due to lockdown and also the shut down of transportation and industries. Due to the disruption and lack of commercial activity, the demand for hydrogen has decreased and growth in 2020 was not up to the mark. Consider in this report: • Geography: Canada • Historical year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Canada hydrogen generation market with its value and forecast along with its segments • Application wise hydrogen generation market analysis • Various drivers and challenges • On-going trends and developments • Five force models • Top profiled companies • Strategic recommendation Technical type of hydrogen generation in the report • Steam methane reforming process • Coal gasification • Other By application type in the report • Methanol production • Ammonia production • Petroleum refinery • Transportation • Power generation • others By system type in the report • Captive • Merchant 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, analysing 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 hydrogen generation 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.