Hydrogen Generation Market Expands in Power-to-Gas Infrastructure

The global hydrogen generation market was valued at USD 186.58 billion in 2024 and is projected to grow to USD 317.39 billion by 2030, representing a CAGR of 9.2% during 2025–2030. Growth is largely driven by increasing demand for cleaner fuels and stricter governmental regulations for desulphurization of petroleum products.

Key Market Trends & Insights

• The Asia Pacific region dominated the market in 2024, accounting for over 35.34% of global revenue.
• China led the Asia Pacific regional market in 2024 in terms of revenue.
• By system type, the captive generation segment held about 64.47% of revenues in 2024.
• By application, the ammonia production segment led with a revenue share above 23.56% in 2024.
• Among technologies, coal gasification accounted for more than 29.0% of revenue in 2024.

Market Size & Forecast

• 2024 market size: USD 186.58 billion.
• 2030 projected market size: USD 317.39 billion.
• Forecasted CAGR (2025-2030): 9.2%.
• Asia Pacific led in 2024, with strong contribution from China, driven by numerous refineries and supportive government policies in countries such as Japan and Australia.

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Key Companies & Market Share Insight

The hydrogen generation industry is highly competitive, and innovation through research & development remains a crucial differentiator. For example:

One company acquired another’s hydrogen, carbon monoxide and syngas business to expand its petrochemical and refining-industry capabilities.

Another company announced plans to manufacture and market renewable liquid hydrogen for the U.S. West Coast mobility market, planning a large-scale project to produce 30 tons per day of liquid hydrogen using biogas.

Key Companies List

Leading companies in the market include:

• Air Liquide International S.A.
• Air Products and Chemicals, Inc.
• Hydrogenics Corporation
• INOX Air Products Ltd.
• Iwatani Corporation
• Linde Plc
• Matheson Tri-Gas, Inc.
• Messer
• SOL Group
• Tokyo Gas Chemicals Co., Ltd.

Conclusion

In summary, the hydrogen generation market is set for strong growth through 2030, propelled by global efforts toward cleaner energy, stricter fuel regulations, and expanding industrial applications. Regions such as Asia Pacific, led by China, are at the forefront of revenue generation, while technologies like steam methane reforming and coal gasification dominate today’s landscape. With captive systems forming the bulk of current installations and ammonia production the leading application, established players continue to expand through acquisitions and large-scale renewable projects. As hydrogen’s role as an energy carrier strengthens, the competitive landscape will likely evolve further, offering opportunities for new entrants and innovation-driven growth.

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