Pune, India -- (SBWIRE) -- 05/07/2019 -- Hydrogen Generator Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of hydrogen generator market by product type (on-site generation and portable), capacity (100-300W, 300-700W, 700W-1 Kw, 1-3Kw and 3Kw), process type (steam reformer, electrolysis), application (chemical processing, petroleum recovery, refining, fuel cells) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the hydrogen generator market it includes the five years industry analysis and the 6 years annual forecast from 2018 to 2024. The global hydrogen generator market is projected to grow at a CAGR of 5% over the forecast period of 2018-2024.

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Hydrogen Generator Market: Insights

Hydrogen generator is a device in which the electrochemical reaction takes place – electrolysis of water. It is long been known process of obtaining hydrogen and oxygen gas. The hydrogen generator is the unit that produces hydrogen that is mainly used in the as part of fuel efficiency systems and medical and research fields to produce high purity hydrogen for gas chromatography, nanotube research, semiconductor industry, and many others.

Hydrogen Generator Market: Drivers and Restraints

The rapidly growing adoption of clean-burning fuels is the major factor that drives the growth of the hydrogen generator market. The hydrogen is used as an alternative to the fossil fuels that helps to reduce the emission of carbon. The growing use of hydrogen as an alternative fuel to the approximately 30% reduction in the consumption of conventional fossil fuel. The high demand for low carbon emission gases from the oil and gas, chemical, automotive and others are anticipated to escalate the growth of hydrogen generator market. The rapidly growing adoption of hydrogen the growth of the hydrogen generator market.

Moreover, increasing technological advancements, growing government inclination towards fuel cells electric vehicles (FCEV), and the use of hydrogen generators in the food and beverage industries to remove harmful bacteria are the factors projected to create the several opportunities for the hydrogen generator market over the forecast period.

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Hydrogen Generator Market: Regional Analysis

Among the geographies, North America region has the highest market share in the hydrogen generator market in 2017 and is expected to maintain its stronghold over the forecast period. The rising awareness about the clean fuels in the North America region led to the high demand for hydrogen power generation plants that are driving the growth of the hydrogen generator market in this region.

Hydrogen Generator Market: Segmentation

The report on the global hydrogen generator market covers segments such as product type, capacity, process type, and application. On the basis of product type, the global hydrogen generator market is categorized into on-site generation and portable. On the basis of capacity, the global hydrogen generator market is categorized into 1-100 w, 100-300 w, 300-700w, 700w-1 kW, 1-3kw and 3kw and above. On the basis of process type, the global hydrogen generator market is categorized into steam reformer and electrolysis. On the basis of application, the global hydrogen generator market is categorized into chemical processing, petroleum recovery, refining and fuel cells.

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Hydrogen Generator Market: Competitive Landscape

The report provides profiles of the companies in the global hydrogen generator market such as Air Liquide S.A., Praxair Technology, Inc, Air Products and Chemicals, Inc., Proton On Site, Inc, Hy9 Corporation, Hydrogenics Corporation, Idroenergy srl., McPhy Energy S.A., and Linde AG.

Report Findings

1. Drivers

- Rapidly Growing Adoption of Clean-Burning Fuels.

- Growing Use of Hydrogen as an Alternative Fuels.

2. Restraints

- Lack of Awareness Regarding the use of Hydrogen Generators.

3. Opportunities

- Growing Government Inclination Towards Fuel Cells Electric Vehicles (FCEV).

- Adoption of Hydrogen Generators in the Food and Beverage Industries.