Hydrogen Generation Market To Forsee Commendable, Due To Growing Demand For Cleaner Fuel

  

Hydrogen Generation Industry Overview

The global hydrogen generation market size was estimated at USD 170.14 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2024 to 2030. Demand for cleaner fuel and increasing government regulations for desulphurization of petroleum products. Hydrogen is an effective energy carrier, and this attribute is expected to contribute significantly to its further penetration into newer markets. Global electricity demand is anticipated to witness an increase of nearly two-thirds of current demand over the forecast period. Focus on projects related to distributed power & utility is anticipated to bolster industry’s growth.

Gather more insights about the market drivers, restrains and growth of the Hydrogen Generation Market

 

U.S. is among the early adopters of clean energy solutions in world for sectors such as power generation, manufacturing, and transportation. The U.S. Department of Energy (DOE) and Department of Transportation (DOT) introduced a Hydrogen Posture Plan in December 2006. This plan was aimed at enhancing research and development (R&D) and validating technologies that can be employed for setting up hydrogen infrastructure.

This plan provided deliverables set by the Federal government to support development of hydrogen infrastructure in the country. It was developed following the National Hydrogen Energy Vision and Roadmap. Development and construction of cost-effective and energy-saving hydrogen stations across the country are among key objectives planned by government agencies. All these factors are expected to propel hydrogen generation demand in the U.S.

German Ministry of Transport took an initiative in June 2012 to establish a countrywide hydrogen network and boost hydrogen infrastructure for hydrogen refueling stations. As a part of this initiative, the ministry signed a letter of intent (LoI) with industry players such as Total; The Linde Group; Air Products and Chemicals, Inc.; Daimler AG; and Air Liquide. Under its terms, these industry players were given a target to construct at least 50 hydrogen fueling stations by 2015 in metropolitan cities and major corridors in Germany.

 

Browse through Grand View Research's Sustainable Energy Industry Research Reports.

 

• The global voluntary carbon credit market size was estimated at USD 2.97 billion in 2023 and is projected to grow at a CAGR of 34.6% from 2024 to 2030. The market growth is driven by companies pledging to achieve net-zero emissions and the need for offsets to compensate for emissions that cannot be fully eliminated.

• The global energy storage as a service market size was valued at USD 1.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.7% from 2021 to 2028. The market is expected to be driven by the increasing demand for power management services and cost-effective battery backup power in case of a power outage.

Hydrogen Generation Market Segmentation

Hydrogen Generation Technology Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Steam Methane Reforming
• Coal Gasification
• Others

 

Hydrogen Generation Application Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Methanol production
• Ammonia Production
• Petroleum Refining
• Transportation
• Power Generation
• Others

Hydrogen Generation System Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Captive
• Merchant

Hydrogen Generation Source Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Natural Gas
• Coal
• Biomass
• Water

Hydrogen Generation Regional Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o Russia
o UK
o France
o Spain
o Italy
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
• Central & South America
o Brazil
o Colombia
o Paraguay
• Middle East & Africa
o Saudi Arabia
o U.A.E
o South Africa
o Egypt

Order a free sample PDF of the Hydrogen Generation Market Intelligence Study, published by Grand View Research.

 

Key Companies profiled:

• 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.

Battery Recycling Market Will Help In Powering A Greener Tomorrow

  

Battery Recycling Industry Overview

 

The global battery recycling market size was estimated at USD 1.83 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 37.6% from 2024 to 2030. The industry is expected to grow rapidly during the forecast period owing to increasing popularity of electric vehicles (EVs) and renewable energy storage systems leading to a higher demand for batteries, and, in turn, driving the need for recycling. Governments globally are implementing regulations to promote the recycling of batteries and reduce environmental impact, which is expected to boost industry growth.

 

Gather more insights about the market drivers, restrains and growth of the Battery Recycling Market

 

The U.S. emerged as the largest market in North America in 2023. Increasing sales of EVs in the U.S. owing to the formulation of supportive federal policies, such as the Responsible Battery Recycling Act of 2022 California, and presence of leading industry players are expected to drive demand for batteries in the country over the forecast period. Responsible Battery Recycling Act of 2022 California instructs each battery retailer in the state to have a system for collection of used rechargeable batteries for recycling and reusing purposes.

The U.S. has emerged as a growing market for the recycling of li-ion batteries owing to the presence of large-scale li-ion recycling facilities in the country. For instance, Li-cycle Corp. inaugurated its new li-ion recycling facility with 120,000 square feet of warehousing space. This facility can process 10,000 tons of battery material for electric vehicles annually. The company possesses the capacity to recycle 60,000 electric vehicle batteries.

 

Browse through Grand View Research's Category Power Generation & Storage Industry Research Reports.

 

• The global subsea power grid systems market is expected to grow over the forecast period owing to increasing oil & gas exploration activities in major offshore locations. The regular electric power supply is essential to continue operations in such deep water locations. The depletion of on-shore oil & gas reserves has led to rising offshore reserves exploration, subsequently creating demand for subsea power grid systems.

• The global nuclear turbine generator market is expected to advance exponentially on account of rapid industrialization and increasing demand for energy to meet consumer and industrial needs. Rapid industrialization in emerging countries has provided a catalyst for energy needs across the globe. Fossil fuels are expected to remain the primary source of energy during the forecast period; however, they contribute largely to carbon dioxide emissions.

Battery Recycling Market Segmentation

 

Grand View Research has segmented the global battery recycling market based on chemistry, application, and region:

 

Battery Recycling Chemistry Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Lithium-ion
• Lead Acid
• Nickel
• Others

 

Battery Recycling Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Transportation
• Consumer Electronics
• Industrial

 

Battery Recycling Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Poland
o Netherlands
• Asia Pacific
o China
o Japan
o South Korea
o Taiwan
o India
o Indonesia
o Malaysia
o Thailand
o Vietnam
o Australia
• Central & South America
o Brazil
o Argentina
o Chile
• Middle East & Africa
o UAE
o Saudi Arabia
o South Africa

 

Order a free sample PDF of the Battery Recycling Market Intelligence Study, published by Grand View Research.

 

Key Companies profiled:

 

• Call2Recycle
• Exide Technologies
• Gravita India Ltd.
• Glencore
• Cirba Solutions
• American Battery Technology Company
• Gopher Resource
• East Penn Manufacturing Co.
• Aqua Metals