The global hydrogen generation market is projected to reach USD 199.1 billion by 2023 from an estimated USD 135.5 billion in 2018, at a CAGR of 8.0%. The market in Asia Pacific is estimated to be the largest, followed by North America. Factors such as growing refinery operations to meet the rising demand for fuels and increased investment in fuel cell technology and support infrastructure are driving the hydrogen generation market in the region.

The hydrogen generation market is dominated by a few major players that have a wide global presence. The leading players in the hydrogen generation market include Air Liquide (France), Air Products and Chemicals (US), Iwatani (Japan), Hydrogenics (Canada), Linde (Germany), and Praxair (US). Other players include companies such as Messer Group (Germany), Showa Denko (Japan), Ally Hi-Tech (China), Caloric (Germany), Claind (Italy), Erredue (Italy), HyGear (Netherlands), Nuvera Fuel Cells (US), Proton OnSite (US), Taiyo Nippon Sanso (Japan), Teledyne Energy Systems (US), Xebec (Canada), Ballard Power Systems (Canada), FuelCell Energy (US), and Plug Power (US).

The major strategies adopted by the players include new product developments, contracts & agreements, investments & expansions, and mergers & acquisitions. New product development was the most commonly adopted strategy from September 2014 to June 2018. Industry players also adopted mergers & acquisitions, which was the second most widely followed strategy during the same period.  

This research report categorizes the market based on generation and delivery type, technology, application, storage, and region.
Based on generation and delivery type, the global market has been segmented as follows:

    Captive
    Merchant
        Delivery mode
        State 

Based on technology, the global market has been segmented as follows:

    Steam methane reforming
    Partial oxidation of oil
    Coal gasification
    Electrolysis of water 

Based on application, the global market has been segmented as follows:

    Petroleum refinery
    Ammonia production
    Methanol production
    Transportation
    Power generation
    Others 

Based on storage, the global market has been segmented as follows:

    On-board storage
    Underground storage
    Power-to-gas storage 

Based on region, the global market has been segmented as follows:

    Asia Pacific
    North America
    Europe
    Middle East
    Africa
    South America 

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Air Liquide is a leading supplier of industrial gases (hydrogen, oxygen, and nitrogen) to various industries such as chemicals, petrochemicals, refining, steel industries, and healthcare. It operates through 3 business segments, namely, gas & services, global market & technologies, and engineering & construction. The gas & services business segment is further categorized into 4 business lines, namely, electronics, healthcare, large industries, and industrial merchant. Industrial merchant is the most profitable business subsegment with the Americas offering high market growth opportunities followed by Europe and Asia Pacific. The engineering and construction segment designs and constructs hydrogen and synthetic gas production plants and air separation units. Air Liquide has presence in 80 countries and a customer base of more than 3.5 million, globally. In September 2018, Air Liquide inaugurated its 10th hydrogen station in Germany and a new facility in Hobro, Denmark to produce carbon-free hydrogen.

Linde is one of the leading suppliers of industrial, process, and speciality gases. It operates through 2 business divisions, namely, gases and engineering. The gases division has 3 segments—Europe, the Middle East and Africa (EMEA), Asia Pacific, and the Americas. These segments are further divided into 9 Regional Business Units (RBUs). Thus, Linde has a strong regional and local market presence in the gases market. Some of the major end-users for the gases division are food & beverage, chemistry & energy, metallurgy & glass, manufacturing industry, electronics, and healthcare. The engineering business division specializes in olefin plants, natural gas plants, air separation plants, and hydrogen and synthesis gas plants. These plants are used in petrochemical and chemical industries, refineries, and fertilizer plants to recover air gases, produce hydrogen and synthesis gases, treat natural gas, and produce noble gases. Linde has a strong regional presence with operations in more than 100 countries worldwide. In 2017, Linde opened a hydrogen filling station under the Clean Energy Partnership (CEP) in Metzingen, Germany.