North America Chemical Hydrogen Generation Market, 2032 Report (2024)

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North America Chemical Hydrogen Generation Market Size North America Chemical Hydrogen Generation Market Trends North America Chemical Hydrogen Generation Market Analysis North America Chemical Hydrogen Generation Market Share North America Chemical Hydrogen Generation Market Companies North America Chemical Hydrogen Generation Industry News This North America chemical hydrogen generation market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in “USD Billion” from 2021 to 2032, for the following segments: Frequently Asked Questions (FAQ) : North America Chemical Hydrogen Generation Market Scope Buy Now Premium Report Details References

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  • Report ID: GMI9642
  • Published Date: May 2024
  • Report Format: PDF

North America Chemical Hydrogen Generation Market Size

North America Chemical Hydrogen Generation Market was valued at USD 6.3 billion in 2023 and is anticipated to grow at a CAGR of 5.7% from 2024 to 2032. Rising implementation of robust policies and incentives to promote clean energy technologies coupled with increasing research and development funding to reduce the clean fuel production cost and increase its adoption is set to augment the industry landscape. Growing focus of leading players including Air Products and Cummins on adoption of hydrogen technologies as part of their broader strategies to reduce carbon footprints and transition to cleaner energy sources will boost the product adoption.

North America Chemical Hydrogen Generation Market, 2032 Report (1)

Rising technological advancements such as electrolysis and steam methane reforming with carbon capture and storage (CCS) to make clean fuel generation more efficient and cost-effective will drive the market growth. Furthermore, expanding innovation activities in electrolysis to reduce the energy requirements and costs associated with green hydrogen production will foster the product demand.

North America Chemical Hydrogen Generation Market Report Attributes
Report AttributeDetails
Base Year:2023
North America Chemical Hydrogen Generation Market Size in 2023:USD 6.3 Billion
Forecast Period:2024 - 2032
Forecast Period 2024 - 2032 CAGR:5.7%
2032 Value Projection:USD 10.2 Billion
Historical Data for:2021 - 2023
No. of Pages:80
Tables, Charts & Figures:25
Segments covered:Delivery Mode, Process and Country
Growth Drivers:
  • Expansion of hydrogen infrastructure
  • Rising corporate commitments to sustainability
Pitfalls & Challenges:
  • High production costs

North America Chemical Hydrogen Generation Market Trends

Rising investments in establishing extensive clean fuel infrastructure to enhance the supply chain and facilitate broader adoption of products across chemical sector will stimulate the business statistics. Increasing collaborative efforts between government entities, private companies, and research institutions to boost investments in clean energy projects will complement the business growth.

North America Chemical Hydrogen Generation Market Analysis

North America Chemical Hydrogen Generation Market, 2032 Report (2)

Based on delivery mode, the captive segment is anticipated to cross more than USD 6 billion by 2032. Rising demand for on-site hydrogen generation to eliminate the need for transportation and reduce associated costs, particularly advantageous for large industrial operations that require a consistent and substantial supply of clean fuel is expected to propel the market landscape. Furthermore, it ensures a reliable and uninterrupted supply of clean gas in addition to easy customization and flexibility to meet the specific needs and demand fluctuations of the host company will enhance the product penetration.

North America Chemical Hydrogen Generation Market, 2032 Report (3)

Based on process, the North America chemical hydrogen generation market is segmented into steam reformer, electrolysis and others. Among these the electrolysis segment is set to grow at a CAGR of over 5.5% through 2032. Declining process cost owing to reduction in renewable energy sources costs, particularly solar and wind power coupled with economies of scale and advancements in technology will foster the process penetration. Furthermore, it enables easy integration of renewable energy sources into the grid by providing flexible demand for excess electricity during periods of low demand or surplus generation will boost the business scenario.

North America Chemical Hydrogen Generation Market, 2032 Report (4)

Canada chemical hydrogen generation market is projected to surpass USD 1.5 billion by 2032. Rising commitments to reduce greenhouse gas emissions and transition to clean energy coupled with government investments to improve clean fuel production, usage, and export will influence the product adoption. The presence of vast resources and strategic location is pushing the country to explore opportunities for clean fuel export in international markets, particularly to Europe and Asia which will propel the industry statistics.

In the U.S., rising promotion of hydrogen in their clean energy strategies including the H2@Scale program, aiming to integrate hydrogen into the energy economy will foster the industry statistics. Furthermore, growing push for reducing carbon emissions and investments by key players to develop advanced clean energy practices to improve efficiency and reduce costs will complement the business growth.

North America Chemical Hydrogen Generation Market Share

North America Chemical Hydrogen Generation Market, 2032 Report (5)

Eminent players are investing heavily in research and development to enhance the efficiency, cost-effectiveness, and sustainability of hydrogen generation technologies. Furthermore, many companies are forming strategic partnerships and collaborations with technology providers, research institutions, and government agencies to leverage expertise, share resources, and accelerate innovation. Key players are also expanding their presence in the North American market by entering new geographical regions, targeting emerging industries, and diversifying customer segments.

North America Chemical Hydrogen Generation Market Companies

Eminent players operating in the North America chemical hydrogen generation industry include:

  • Ally Hi-Tech Co., Ltd
  • Air Products and Chemicals, Inc.
  • Cummins Inc
  • FuelCell Energy
  • HyGear
  • Iwatani Corporation
  • Linde plc
  • McPhy Energy S.A.
  • Messer Group GmbH
  • Nel Hydrogen
  • Plug Power Inc.
  • Reliance Industries Ltd
  • Resonac Corporation
  • Teledyne Technologies Incorporated
  • Thyssenkrupp AG

North America Chemical Hydrogen Generation Industry News

  • In December 2022, AES Corporation and chemical company, Air Products announced a partnership to build a green hydrogen production plant in Texas. The project will include approximately 1.4 GW of wind and solar power capacity, with an investment nearing USD 4 billion. The facility will feature an electrolyzer capable of producing over 200 tons of green hydrogen per day. Both companies will jointly own the renewable energy and electrolyzer assets.
  • In December 2021, Cummins Inc., headquartered in the U.S., announced a joint venture with China Petrochemical Corporation (Sinopec) to form Cummins Enze Hydrogen Technology Co., Ltd. Sinopec, aiming to become the world’s leading clean energy chemical company, and has positioned hydrogen industry as the core of its new power strategy. This collaboration is set to accelerate the transition from gray hydrogen to decarbonized hydrogen, contributing to Sinopec's goal of becoming China's largest hydrogen energy company.

This North America chemical hydrogen generation market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in “USD Billion” from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report


Market, By Delivery Mode

  • Captive
  • Merchant

Market, By Technology

  • Steam Reformer
  • Electrolysis
  • Others

The above information has been provided for the following countries:

  • U.S.
  • Canada
  • Mexico

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

North America chemical hydrogen generation industry size was USD 6.3 billion in 2023 and is projected to expand at 5.7% CAGR from 2024 to 2032, due to the rising implementation of robust policies and incentives to promote clean energy technologies.

The captive delivery mode segment in the North America chemical hydrogen generation industry is projected to account for more than USD 6 billion by 2032, owing to the rising demand for on-site hydrogen generation to eliminate the need for transportation and reduce associated costs.

The electrolysis segment in the North America chemical hydrogen generation industry is projected to depict over 5.5% CAGR between 2024 and 2032, led by the declining process cost owing to reduction in renewable energy sources prices, particularly solar and wind power.

Canada chemical hydrogen generation industry is projected to record more than USD 1.5 billion by 2032, due to the rising commitments to reduce greenhouse gas emissions and transition to clean energy.

North America Chemical Hydrogen Generation Market Scope

  • North America Chemical Hydrogen Generation Market Size
  • North America Chemical Hydrogen Generation Market Trends
  • North America Chemical Hydrogen Generation Market Analysis
  • North America Chemical Hydrogen Generation Market Share

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    Premium Report Details

    • Base Year: 2023
    • Companies covered: 15
    • Tables & Figures: 25
    • Countries covered: 3
    • Pages: 80
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    North America Chemical Hydrogen Generation Market, 2032 Report (2024)

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