수소 생성 시장 – 2030년까지의 세계 예측

Hydrogen Generation Market – Global Forecast To 2030

수소 생성 시장 – 기술(SMR, ATR, POX, 석탄 가스화, 전기분해), 용도(정유소, 암모니아, 메탄올, 수송, 발전), 공급원(파랑, 녹색, 회색), 발전·공급 모드, 지역별 – 2030년까지의 세계 예측
Hydrogen Generation Market by Technology (SMR, ATR, POX, Coal Gasification, Electrolysis), Application (Refinery, Ammonia, Methanol, Transportation, Power Generation), Source (Blue, Green, Gray), Generation & Delivery Mode, Region – Global Forecast to 2030

　　　　주문/문의　　　　조사회사/라이센스/납기안내

본 보고서는 수소 생성 시장을 응용 분야, 기술, 공급원, 그리고 생산 및 공급 방식별로 정의, 설명 및 예측합니다. 또한 시장에 대한 상세한 정성적 및 정량적 분석을 제공합니다. 주요 시장 동인, 제약, 기회 및 과제에 대한 포괄적인 분석을 제공합니다. 또한 시장의 다양한 핵심 측면을 다룹니다. 여기에는 수소 생성 시장의 경쟁 환경, 시장 역학, 가치 측면에서의 시장 추정치, 그리고 미래 동향 분석이 포함됩니다.

수소 생성 시장은 2025년 1,578억 1천만 달러에서 2030년 2,263억 7천만 달러로 성장할 것으로 예상되며, 이는 예측 기간 동안 연평균 7.5% 성장한 수치입니다. 수소 생산 시장은 에너지 시스템의 탈탄소화를 위한 세계적인 노력, 청정 연료 대체 수요 증가, 그리고 산업, 운송 및 발전 부문 전반에 걸친 수소 도입 확대에 힘입어 성장하고 있습니다. 정부의 적극적인 지원 정책, 재생에너지에 대한 막대한 투자, 그리고 전기분해 기술의 발전은 수소 생성 시장 확대를 가속화하고 있습니다. 또한, 수소 인프라 구축과 에너지 안보 및 배출 감축에 대한 관심 증가는 주요 세계 지역에서 수소 생성 시장 성장을 더욱 가속화하고 있습니다.

The hydrogen generation market is estimated to reach USD 226.37 billion by 2030 from an estimated value of USD 157.81 billion in 2025, at a CAGR of 7.5% during the forecast period. The hydrogen generation market is driven by increasing global efforts to decarbonize energy systems, the rising demand for clean fuel alternatives, and the expanding adoption of hydrogen across industrial, transportation, and power generation sectors. Supportive government policies, substantial investments in renewable energy, and advancements in electrolysis technology accelerate the market expansion. Additionally, the development of hydrogen infrastructure and growing focus on energy security and emission reduction further strengthen the market growth trajectory across major global regions.

“Green hydrogen segment is projected to record the highest CAGR between 2025 and 2030.”

The green hydrogen segment is expected to record the highest CAGR in the hydrogen generation market during the forecast period, driven by the global transition toward carbon neutrality and the urgent need to decarbonize hard-to-abate sectors. Supportive policy frameworks accelerate project development and commercialization, including tax incentives, subsidies, and national hydrogen strategies worldwide. Additionally, the growing demand for zero-emission fuels in applications such as fuel cell vehicles, power generation, and industrial feedstock positions green hydrogen as a key enabler of the global clean energy transition. Strategic partnerships, large-scale pilot projects, and ambitious decarbonization roadmaps continue to drive the green hydrogen segment worldwide.

“Coal gasification segment accounted for the second-largest market share in 2024.”

The coal gasification segment held the second-largest position in the hydrogen generation market in 2024, driven by its ability to produce hydrogen at scale using abundant domestic coal resources. In this process, coal is partially oxidized with air, oxygen, steam, or carbon dioxide to create a fuel gas. The resulting syngas, primarily composed of hydrogen, carbon monoxide, methane, carbon dioxide, and water vapor, is then utilized as an alternative to methane, piped natural gas, and other fuels for power generation and chemical feedstock production. Hydrogen derived from coal gasification serves critical roles in ammonia synthesis, chemical manufacturing, and supporting hydrogen economy initiatives. Key drivers for this segment include extensive coal reserves, established industrial infrastructure, and the strategic objective of reducing dependence on imported natural gas. Furthermore, technological advancements in gasification processes, including improved efficiency and integration with carbon capture and storage (CCS) systems, enhance the environmental performance of this technology.

“Asia Pacific is likely to be the largest region in the hydrogen generation market during the forecast period.”

Asia Pacific is poised to be the largest region in the hydrogen generation market during the forecast period, driven by strong government commitments to decarbonization, energy security, and industrial transformation. National hydrogen strategies in countries such as China, Japan, South Korea, and India accelerate investments in large-scale hydrogen production, particularly in green and blue hydrogen projects. Expanding renewable energy capacity, supportive policy frameworks, and strategic public-private partnerships fuel infrastructure development across the region. Additionally, the rapid growth of hydrogen applications in refining, chemicals, and mobility underscores its leadership.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:

• By Company Type: Tier 1 – 65%, Tier 2 – 24%, and Tier 3 – 11%
• By Designation: C-Level Executives – 30%, Managers – 25%, and Others – 45%
• By Region: North America – 27%, Europe – 20%, Asia Pacific – 33%, South America – 12%,  Middle East – 4% Africa – 4%

Note: Others include product engineers, product specialists, and engineering leads.

The tiers of the companies are defined based on their total revenues as of 2023. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The hydrogen generation market is dominated by a few major players with a wide regional presence. Leading players in hydrogen generation market are Linde plc (Ireland), Air Liquide (France), Saudi Arabian Oil Co. (Saudi Arabia), Air Products and Chemicals, Inc. (US), Shell plc (UK), ENGIE (France), Chevron Corporation (US), Ørsted A/S (Denmark), Messer SE & Co. KGaA (Germany), Equinor ASA (Norway), Uniper SE (Germany), Exxon Mobil Corporation (US), and BP p.l.c. (UK).

Research Coverage:

The report defines, describes, and forecasts the hydrogen generation market by application, technology, source, and generation & delivery mode. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various key aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the hydrogen generation market.

Key Benefits of Buying the Report

• The global push toward decarbonization drives the hydrogen generation market, the growing demand for flexible clean energy solutions, and the need to reduce greenhouse gas emissions across key industrial and transport sectors. While green hydrogen is gaining momentum as a long-term sustainable solution, gray hydrogen currently dominates the market due to its cost-effectiveness, mature production technology, and ability to supply large volumes to meet immediate industrial needs. Supportive government policies, national hydrogen roadmaps, and emission reduction mandates drive investments across the entire hydrogen value chain, including improvements in carbon capture technologies that enable blue hydrogen development. Advancements in production efficiency, integration with existing industrial infrastructure, and the expansion of hydrogen mobility and energy storage applications further accelerate market growth.
• Product Development/ Innovation: The hydrogen generation market is centered on advancing efficiency, sustainability, and scalability through continuous innovation in production technologies and system designs. Companies invest in developing advanced electrolyzers with higher conversion efficiency and lower operational costs to accelerate green hydrogen adoption. Innovations in steam methane reforming (SMR) and coal gasification processes, including integration with carbon capture, utilization, and storage (CCUS) technologies, enhance the environmental performance of gray and blue hydrogen production. Modular and compact hydrogen generation units allow flexible deployment across industrial, mobility, and energy applications. Integration of digital technologies, such as IoT and advanced data analytics, enables real-time monitoring, predictive maintenance, and optimization of production processes. Material advancements focus on improving corrosion resistance, durability, and safety in hydrogen storage and handling systems. These technological developments are critical to strengthening the hydrogen supply infrastructure and supporting its broader role as a key enabler in the global clean energy transition.
• Market Development: In September 2023, Air Liquide invested USD 433 million to build its Normand’Hy electrolyzer with a capacity of 200 MW to decarbonize the Normandy industrial basin and mobility.
• Market Diversification: In July 2024, Air Products and Chemicals, Inc. entered a 15-year agreement with TotalEnergies to supply 70,000 tons of green hydrogen annually to TotalEnergies’ refineries and biorefineries in Northern Europe starting in 2030. This supply will help TotalEnergies replace fossil-based hydrogen, enabling a reduction of approximately 700,000 tonnes of CO₂ emissions per year. The deal supports TotalEnergies’ goal of cutting Scope 1 and 2 emissions by 40% by 2030 (vs. 2015 levels).
• Competitive Assessment: Assessment of rankings of some key players, including Linde plc (Ireland), Air Liquide (France), Saudi Arabian Oil Co. (Saudi Arabia), Air Products and Chemicals, Inc. (US), Shell plc (UK), and ENGIE (France).

Table of Contents

1               INTRODUCTION              31

1.1           STUDY OBJECTIVES       31

1.2           MARKET DEFINITION   31

1.3           STUDY SCOPE   32

1.3.1        MARKETS COVERED AND REGIONAL SCOPE      32

1.3.2        INCLUSIONS AND EXCLUSIONS 33

1.3.3        YEARS CONSIDERED      34

1.4           CURRENCY CONSIDERED            35

1.5           UNIT CONSIDERED        35

1.6           LIMITATIONS    35

1.7           STAKEHOLDERS               35

1.8           SUMMARY OF CHANGES               36

2               RESEARCH METHODOLOGY       37

2.1           RESEARCH DATA              37

2.1.1        SECONDARY DATA          38

2.1.1.1    List of key secondary sources              38

2.1.1.2    Key data from secondary sources       38

2.1.2        PRIMARY DATA 39

2.1.2.1    List of primary interview participants               39

2.1.2.2    Key data from primary sources           39

2.1.2.3    Key industry insights           40

2.1.2.4    Breakdown of primaries      40

2.2           MARKET SIZE ESTIMATION         41

2.2.1        BOTTOM-UP APPROACH              42

2.2.2        TOP-DOWN APPROACH                43

2.2.3        DEMAND-SIDE ANALYSIS             43

2.2.3.1    Demand-side assumptions 44

2.2.3.2    Demand-side calculations   44

2.2.4        SUPPLY-SIDE ANALYSIS                 45

2.2.4.1    Supply-side assumptions     46

2.2.4.2    Supply-side calculations      46

2.3           FORECAST          46

2.4           MARKET BREAKDOWN AND DATA TRIANGULATION                 47

2.5           RESEARCH LIMITATIONS             48

2.6           RISK ANALYSIS  48

3               EXECUTIVE SUMMARY  49

4               PREMIUM INSIGHTS       54

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDROGEN GENERATION MARKET        54

4.2           HYDROGEN GENERATION MARKET, BY REGION                 55

4.3           ASIA PACIFIC HYDROGEN GENERATION MARKET,

BY GENERATION & DELIVERY MODE AND COUNTRY     55

4.4           HYDROGEN GENERATION MARKET, BY TECHNOLOGY                 56

4.5           HYDROGEN GENERATION MARKET, BY SOURCE                 56

4.6           HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE              57

4.7           HYDROGEN GENERATION MARKET, BY APPLICATION                 57

5               MARKET OVERVIEW       58

5.1           INTRODUCTION              58

5.2           MARKET DYNAMICS       58

5.2.1        DRIVERS               59

5.2.1.1    Enforcement of stringent regulations to curb greenhouse gas emissions                59

5.2.1.2    Government initiatives for developing hydrogen economy                 60

5.2.1.3    Growing demand for ammonia in agriculture sector      60

5.2.2        RESTRAINTS      61

5.2.2.1    Energy loss during hydrogen production          61

5.2.2.2    Limited hydrogen infrastructure        61

5.2.3        OPPORTUNITIES              62

5.2.3.1    Rising emphasis on achieving net-zero carbon emission targets                 62

5.2.3.2    Increasing investment in low-emission fuels   62

5.2.3.3    Growing demand for low-carbon transportation fuels   63

5.2.4        CHALLENGES    63

5.2.4.1    High costs associated with renewable hydrogen production                 63

5.3           TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            64

5.4           PRICING ANALYSIS          64

5.4.1        PRICING RANGE OF HYDROGEN, BY TECHNOLOGY, 2024        64

5.4.2        PRICING RANGE OF HYDROGEN, BY SOURCE, 2024                 65

5.5           SUPPLY CHAIN ANALYSIS             65

5.6           ECOSYSTEM ANALYSIS  66

5.7           TRADE ANALYSIS             68

5.7.1        IMPORT SCENARIO (HS CODE 280410)    68

5.7.2        EXPORT SCENARIO (HS CODE 280410)    69

5.8           TECHNOLOGY ANALYSIS             70

5.8.1        KEY TECHNOLOGIES     70

5.8.1.1    Steam methane reforming (SMR)     70

5.8.1.2    Partial oxidation   71

5.8.1.3    Coal gasification   71

5.8.1.4    Electrolysis            71

5.8.2        COMPLEMENTARY TECHNOLOGIES       71

5.8.2.1    Carbon capture, utilization, and storage (CCUS)           71

5.9           CASE STUDY ANALYSIS 71

5.9.1        HYBRIT INITIATIVE HELPS TRANSFORM STEEL PRODUCTION WITH FOSSIL-FREE GREEN HYDROGEN IN SWEDEN              71

5.9.2        NATIONAL RENEWABLE ENERGY LABORATORY AND ELECTRIC HYDROGEN PARTNER TO DEVELOP HIGH-PERFORMANCE ELECTROLYZER COMPONENTS                72

5.9.3        RWE TESTS SUNFIRE’S ELECTROLYSIS TECHNOLOGIES TO GENERATE GREEN HYDROGEN         72

5.10         KEY CONFERENCES AND EVENTS, 2025–2026        73

5.11         PATENT ANALYSIS          74

5.12         REGULATORY LANDSCAPE         79

5.12.1      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             79

5.12.2      REGULATORY FRAMEWORKS/POLICIES                82

5.13         PORTER’S FIVE FORCES ANALYSIS           85

5.13.1      THREAT OF NEW ENTRANTS      86

5.13.2      BARGAINING POWER OF SUPPLIERS       86

5.13.3      BARGAINING POWER OF BUYERS             86

5.13.4      THREAT OF SUBSTITUTES          86

5.13.5      INTENSITY OF COMPETITIVE RIVALRY 86

5.14         KEY STAKEHOLDERS AND BUYING CRITERIA     87

5.14.1      KEY STAKEHOLDERS IN BUYING PROCESS           87

5.14.2      BUYING CRITERIA           87

5.15         IMPACT OF AI/GEN AI ON HYDROGEN GENERATION MARKET               88

5.16         IMPACT OF 2025 US TARIFF ON HYDROGEN GENERATION MARKET 90

5.16.1      INTRODUCTION              90

5.16.2      KEY TARIFF RATES          91

5.16.3      PRICE IMPACT ANALYSIS             92

5.16.4      IMPACT ON COUNTRIES/REGIONS         92

5.16.4.1  US           92

5.16.4.2  Europe   94

5.16.4.3  Asia Pacific            94

5.16.5      IMPACT ON APPLICATIONS        95

6               HYDROGEN GENERATION MARKET, BY TECHNOLOGY                 96

6.1           INTRODUCTION              97

6.2           STEAM METHANE REFORMING (SMR)    101

6.2.1        EMERGENCE AS COST-EFFECTIVE METHOD OF HYDROGEN PRODUCTION TO FOSTER SEGMENTAL GROWTH                 101

6.3           PARTIAL OXIDATION (POX)       101

6.3.1        USE IN AUTOMOBILE FUEL CELLS AND OTHER COMMERCIAL APPLICATIONS TO BOOST SEGMENTAL GROWTH             101

6.4           AUTO THERMAL REFORMING (ATR)       102

6.4.1        STRONG FOCUS ON PRODUCING ADVANCED BIOFUELS TO CONTRIBUTE TO SEGMENTAL GROWTH      102

6.5           COAL GASIFICATION     102

6.5.1        NEED TO REDUCE RELIANCE ON IMPORTED NATURAL GAS TO FUEL SEGMENTAL GROWTH     102

6.6           ELECTROLYSIS 103

6.6.1        EMPHASIS ON INCREASING ENERGY EFFICIENCY OF HYDROGEN GENERATION PROCESS TO AUGMENT SEGMENTAL GROWTH  103

6.6.2        ALKALINE ELECTROLYSIS            105

6.6.3        PROTON-EXCHANGE MEMBRANE ELECTROLYSIS                 105

6.6.4        SOLID OXIDE ELECTROLYSIS     106

6.6.5        ANION-EXCHANGE MEMBRANE ELECTROLYSIS                 106

7               HYDROGEN GENERATION MARKET, BY SOURCE                 107

7.1           INTRODUCTION              108

7.2           BLUE HYDROGEN            109

7.2.1        LOW CARBON DIOXIDE PRODUCTION BENEFITS TO CONTRIBUTE TO SEGMENTAL GROWTH              109

7.3           GRAY HYDROGEN           111

7.3.1        IMPOSITION OF STRICT CARBON CAPS ON INDUSTRIES TO ACCELERATE SEGMENTAL GROWTH              111

7.4           GREEN HYDROGEN        113

7.4.1        DEPLOYMENT OF RENEWABLE POWER GENERATION TECHNOLOGIES TO DRIVE MARKET      113

8               HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE              116

8.1           INTRODUCTION              117

8.2           CAPTIVE              119

8.2.1        NEED TO REDUCE DEPENDENCE ON EXTERNAL HYDROGEN SUPPLY CHAINS TO ACCELERATE SEGMENTAL GROWTH             119

8.3           MERCHANT        121

8.3.1        BY DELIVERY MODE       122

8.3.1.1    Liquid on-site plant & pipeline           124

8.3.1.1.1 Presence near areas with high concentration of hydrogen consumers to expedite segmental growth         124

8.3.1.2    Bulk & cylinder (gaseous form)          125

8.3.1.2.1 Last-mile delivery flexibility and light transport to augment segmental growth 125

8.3.1.3    Bulk (liquid form)                 125

8.3.1.3.1 Greater mass of hydrogen content than gaseous tube trailer to bolster segmental growth    125

8.3.1.4    Small on-site          125

8.3.1.4.1 High preference for small on-site hydrogen plants in chemicals, food, and other industries to drive market       125

8.3.2        BY STATE             125

8.3.2.1    Gas          126

8.3.2.1.1 Emergence as clean energy source to accelerate segmental growth                 126

8.3.2.2    Liquid     128

8.3.2.2.1 High preference in high-volume transport to accelerate segmental growth 128

9               HYDROGEN GENERATION MARKET, BY APPLICATION                 130

9.1           INTRODUCTION              131

9.2           PETROLEUM REFINERY 133

9.2.1        INCREASING USE OF HYDROGEN TO REDUCE SULFUR CONTENT IN DIESEL FUEL TO BOOST SEGMENTAL GROWTH                 133

9.3           AMMONIA PRODUCTION             135

9.3.1        RISING NEED FOR AMMONIA IN NITROGEN-BASED FERTILISERS TO FUEL SEGMENTAL GROWTH    135

9.4           METHANOL PRODUCTION         137

9.4.1        SURGING DEMAND FOR TRANSPORTATION FUEL AND ELECTRICITY TO AUGMENT SEGMENTAL GROWTH       137

9.5           TRANSPORTATION         139

9.5.1        GROWING CONSUMPTION OF FUEL-CELL ELECTRIC VEHICLES TO SUPPORT MARKET GROWTH         139

9.6           POWER GENERATION   141

9.6.1        INCREASING RELIANCE ON BACKUP POWER SOURCES TO CONTRIBUTE TO SEGMENTAL GROWTH      141

9.7           OTHER APPLICATIONS 144

10            HYDROGEN GENERATION MARKET, BY REGION                 146

10.1         INTRODUCTION              147

10.2         NORTH AMERICA             150

10.2.1      US           156

10.2.1.1  Increasing hydrogen use in petroleum refinery and chemical manufacturing to drive market           156

10.2.2      CANADA               158

10.2.2.1  Rising development of low-carbon hydrogen to support decarbonization strategies to fuel market growth            158

10.2.3      MEXICO                160

10.2.3.1  Increasing ammonia and green hydrogen Initiatives to accelerate market growth       160

10.3         ASIA PACIFIC     162

10.3.1      JAPAN   169

10.3.1.1  Strong ambitious targets and heavy infrastructure investment to accelerate market growth    169

10.3.2      CHINA  171

10.3.2.1  Increasing ammonia production to modernize agriculture to drive market    171

10.3.3      INDIA    173

10.3.3.1  Shifting focus toward renewable hydrogen to contribute to market growth       173

10.3.4      AUSTRALIA         175

10.3.4.1  Strong presence of renewable energy resources to bolster market growth    175

10.3.5      SOUTH KOREA  177

10.3.5.1  Ambitious carbon neutrality goals to contribute to market growth                 177

10.3.6      REST OF ASIA PACIFIC   179

10.4         EUROPE               181

10.4.1      GERMANY           186

10.4.1.1  Strong focus on producing low-carbon green hydrogen to boost market growth       186

10.4.2      UK          188

10.4.2.1  Growing focus on supporting conventional hydrogen production to augment market growth  188

10.4.3      FRANCE                190

10.4.3.1  Rapid transition to low-carbon alternatives in industries to fuel market growth       190

10.4.4      RUSSIA 192

10.4.4.1  Increasing oil export and natural gas production to contribute to market growth       192

10.4.5      REST OF EUROPE             194

10.5         SOUTH AMERICA             196

10.5.1      BRAZIL 202

10.5.1.1  Increasing electricity generation using renewable energy to foster market growth       202

10.5.2      ARGENTINA       204

10.5.2.1  Rapid transition to low-carbon energy sources for industrial decarbonization to augment market growth     204

10.5.3      REST OF SOUTH AMERICA           206

10.6         MIDDLE EAST   208

10.6.1      GCC       213

10.6.1.1  Saudi Arabia          214

10.6.1.1.1                Thriving petrochemical industry to contribute to market growth    214

10.6.1.2  Qatar      216

10.6.1.2.1                Escalating LNG export and natural gas production to drive market          216

10.6.1.3  UAE        218

10.6.1.3.1                Expanding natural gas reserves to boost market growth                 218

10.6.2      IRAN      219

10.6.2.1  High demand for refined petroleum products to contribute to market growth       219

10.6.3      REST OF MIDDLE EAST 221

10.7         AFRICA 223

10.7.1      SOUTH AFRICA 228

10.7.1.1  Growing investment in hydrogen and green ammonia for energy transition to boost market growth      228

10.7.2      REST OF AFRICA               230

11            COMPETITIVE LANDSCAPE         233

11.1         OVERVIEW          233

11.2         KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2025                 233

11.3         MARKET SHARE ANALYSIS, 2024                 235

11.4         REVENUE ANALYSIS, 2020–2024  237

11.5         COMPANY VALUATION AND FINANCIAL METRICS                 239

11.6         PRODUCT COMPARISON              240

11.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 241

11.7.1      STARS   241

11.7.2      EMERGING LEADERS     241

11.7.3      PERVASIVE PLAYERS      241

11.7.4      PARTICIPANTS 241

11.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2024         243

11.7.5.1  Company footprint               243

11.7.5.2  Region footprint   245

11.7.5.3  Source footprint    246

11.7.5.4  Application footprint            247

11.7.5.5  Technology footprint           248

11.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        249

11.8.1      PROGRESSIVE COMPANIES         249

11.8.2      RESPONSIVE COMPANIES            249

11.8.3      DYNAMIC COMPANIES  249

11.8.4      STARTING BLOCKS         249

11.8.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024                 251

11.8.5.1  Detailed list of key startups/SMEs    251

11.8.5.2  Competitive benchmarking of key startups/SMEs          252

11.9         COMPETITIVE SCENARIO             252

11.9.1      PRODUCT LAUNCHES   252

11.9.2      DEALS  253

11.9.3      EXPANSIONS     254

11.9.4      OTHER DEVELOPMENTS              255

12            COMPANY PROFILES      256

12.1         KEY PLAYERS     256

12.1.1      LINDE PLC          256

12.1.1.1  Business overview 256

12.1.1.2  Products/Solutions/Services offered 257

12.1.1.3  Recent developments           258

12.1.1.3.1                Deals      258

12.1.1.3.2                Expansions             260

12.1.1.4  MnM view              261

12.1.1.4.1                Key strengths/Right to win 261

12.1.1.4.2                Strategic choices   261

12.1.1.4.3                Weaknesses/Competitive threats       261

12.1.2      AIR LIQUIDE      262

12.1.2.1  Business overview 262

12.1.2.2  Products/Solutions/Services offered 263

12.1.2.3  Recent developments           264

12.1.2.3.1                Deals      264

12.1.2.3.2                Expansions             266

12.1.2.3.3                Others developments           266

12.1.2.4  MnM view              267

12.1.2.4.1                Key strengths/Right to win 267

12.1.2.4.2                Strategic choices   267

12.1.2.4.3                Weaknesses/Competitive threats       267

12.1.3      SAUDI ARABIAN OIL CO.               268

12.1.3.1  Business overview 268

12.1.3.2  Products/Solutions/Services offered 269

12.1.3.3  Recent developments           270

12.1.3.3.1                Deals      270

12.1.3.3.2                Expansions             270

12.1.3.4  MnM view              271

12.1.3.4.1                Key strengths/Right to win 271

12.1.3.4.2                Strategic choices   271

12.1.3.4.3                Weaknesses/Competitive threats       271

12.1.4      AIR PRODUCTS AND CHEMICALS, INC.  272

12.1.4.1  Business overview 272

12.1.4.2  Products/Solutions/Services offered 273

12.1.4.3  Recent developments           274

12.1.4.3.1                Deals      274

12.1.4.3.2                Other developments             276

12.1.4.4  MnM view              277

12.1.4.4.1                Key strengths/Right to win 277

12.1.4.4.2                Strategic choices   277

12.1.4.4.3                Weaknesses/Competitive threats       277

12.1.5      SHELL PLC          278

12.1.5.1  Business overview 278

12.1.5.2  Products/Solutions/Services offered 279

12.1.5.3  Recent developments           280

12.1.5.3.1                Deals      280

12.1.5.3.2                Expansions             280

12.1.5.3.3                Others developments           281

12.1.5.4  MnM view              281

12.1.5.4.1                Key strengths/Right to win 281

12.1.5.4.2                Strategic choices   281

12.1.5.4.3                Weaknesses/Competitive threats       281

12.1.6      ENGIE   282

12.1.6.1  Business overview 282

12.1.6.2  Products/Solutions/Services offered 283

12.1.6.3  Recent developments           284

12.1.6.3.1                Deals      284

12.1.7      CHEVRON CORPORATION           285

12.1.7.1  Business overview 285

12.1.7.2  Products/Solutions/Services offered 286

12.1.7.3  Recent developments           287

12.1.7.3.1                Deals      287

12.1.8      ØRSTED A/S       289

12.1.8.1  Business overview 289

12.1.8.2  Products/Solutions/Services offered 290

12.1.8.3  Recent developments           291

12.1.8.3.1                Deals      291

12.1.8.3.2                Expansions             291

12.1.9      MESSER SE & CO. KGAA 292

12.1.9.1  Business overview 292

12.1.9.2  Products/Solutions/Services offered 293

12.1.9.3  Recent developments           294

12.1.9.3.1                Deals      294

12.1.10   EQUINOR ASA   295

12.1.10.1                 Business overview 295

12.1.10.2                 Products/Solutions/Services offered 296

12.1.10.3                 Recent developments           297

12.1.10.3.1             Product launches  297

12.1.10.3.2             Deals      297

12.1.11   UNIPER SE           298

12.1.11.1                 Business overview 298

12.1.11.2                 Products/Solutions/Services offered 299

12.1.11.3                 Recent developments           300

12.1.11.3.1             Deals      300

12.1.11.3.2             Others developments           302

12.1.12   EXXON MOBIL CORPORATION  303

12.1.12.1                 Business overview 303

12.1.12.2                 Products/Solutions/Services offered 304

12.1.12.3                 Recent developments           305

12.1.12.3.1             Deals      305

12.1.13   BP P.L.C.               306

12.1.13.1                 Business overview 306

12.1.13.2                 Products/Solutions/Services offered 307

12.1.13.3                 Recent developments           308

12.1.13.3.1             Deals      308

12.1.13.3.2             Others developments           309

12.1.14   IWATANI CORPORATION             310

12.1.14.1                 Business overview 310

12.1.14.2                 Products/Solutions/Services offered 311

12.1.14.3                 Recent developments           312

12.1.14.3.1             Deals      312

12.1.14.3.2             Expansions             312

12.1.15   PETROLIAM NASIONAL BERHAD (PETRONAS)   313

12.1.15.1                 Business overview 313

12.1.15.2                 Products/Solutions/Services offered 314

12.1.15.3                 Recent developments           314

12.1.15.3.1             Deals      314

12.1.15.3.2             Others developments           315

12.1.16   IBERDROLA, S.A.               316

12.1.16.1                 Business overview 316

12.1.16.2                 Products/Solutions/Services offered 317

12.1.16.3                 Recent developments           318

12.1.16.3.1             Deals      318

12.1.16.3.2             Others developments           320

12.2         OTHER PLAYERS              321

12.2.1      PLUG POWER INC.           321

12.2.2      REPSOL                 322

12.2.3      AKER ASA             323

12.2.4      RELIANCE INDUSTRIES LIMITED              324

12.2.5      MATHESON TRI-GAS, INC.           325

12.2.6      LHYFE   326

12.2.7      HIRINGA ENERGY LTD  327

12.2.8      BAYOTECH         327

12.2.9      HYGEAR               328

13            APPENDIX           329

13.1         INSIGHTS OF INDUSTRY EXPERTS           329

13.2         DISCUSSION GUIDE        330

13.3         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                335

13.4         CUSTOMIZATION OPTIONS        337

13.5         RELATED REPORTS         337

13.6         AUTHOR DETAILS           338

LIST OF TABLES

TABLE 1                INCLUSIONS AND EXCLUSIONS 33

TABLE 2                LIST OF KEY SECONDARY SOURCES        38

TABLE 3                LIST OF PRIMARY INTERVIEW PARTICIPANTS                 39

TABLE 4                KEY DATA FROM PRIMARY SOURCES     39

TABLE 5                HYDROGEN GENERATION MARKET: RISKS ANALYSIS            48

TABLE 6                HYDROGEN GENERATION MARKET SNAPSHOT                 49

TABLE 7                PRICING RANGE OF HYDROGEN, BY TECHNOLOGY, 2024 (USD/TON)               65

TABLE 8                PRICING RANGE OF HYDROGEN, BY SOURCE, 2024 (USD/KG)  65

TABLE 9                ROLE OF COMPANIES IN HYDROGEN GENERATION ECOSYSTEM          67

TABLE 10              IMPORT DATA FOR HS CODE 280410-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)      69

TABLE 11              EXPORT DATA FOR HS CODE 280410, BY COUNTRY,

2022–2024 (USD THOUSAND)      70

TABLE 12              LIST OF CONFERENCES AND EVENTS, 2025–2026                 73

TABLE 13              LIST OF MAJOR PATENTS, 2019–2024        75

TABLE 14              NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             79

TABLE 15              EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 80

TABLE 16              ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 81

TABLE 17              MIDDLE EAST: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 81

TABLE 18              AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 82

TABLE 19              SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             82

TABLE 20              IMPACT OF PORTER’S FIVE FORCES ANALYSIS                 85

TABLE 21              INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS(%)   87

TABLE 22              KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 88

TABLE 23              US-ADJUSTED RECIPROCAL TARIFF RATES                 91

TABLE 24              EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON END-USE MARKETS DUE TO TARIFF IMPACT                 92

TABLE 25              HYDROGEN GENERATION MARKET, BY TECHNOLOGY,

2020–2024 (THOUSAND METRIC TONS) 97

TABLE 26              HYDROGEN GENERATION MARKET, BY TECHNOLOGY,

2025–2030 (THOUSAND METRIC TONS) 98

TABLE 27              HYDROGEN GENERATION MARKET, BY TECHNOLOGY, 2020–2024 (USD MILLION)            98

TABLE 28              HYDROGEN GENERATION MARKET, BY TECHNOLOGY, 2025–2030 (USD MILLION)            98

TABLE 29              HYDROGEN GENERATION TECHNOLOGY COMPARISON   99

TABLE 30              ELECTROLYSIS TECHNOLOGY COMPARISON                 103

TABLE 31             HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (THOUSAND METRIC TONS) 108

TABLE 32             HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (THOUSAND METRIC TONS) 108

TABLE 33             HYDROGEN GENERATION MARKET, BY SOURCE, 2020–2024 (USD MILLION)            109

TABLE 34             HYDROGEN GENERATION MARKET, BY SOURCE, 2025–2030 (USD MILLION)            109

TABLE 35              BLUE HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 110

TABLE 36              BLUE HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 110

TABLE 37              BLUE HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            111

TABLE 38              BLUE HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            111

TABLE 39              GRAY HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 112

TABLE 40              GRAY HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 112

TABLE 41              GRAY HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            113

TABLE 42              GRAY HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            113

TABLE 43              GREEN HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 114

TABLE 44              GREEN HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 114

TABLE 45              GREEN HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            115

TABLE 46              GREEN HYDROGEN: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            115

TABLE 47              HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE,

2020–2024 (THOUSAND METRIC TONS) 117

TABLE 48              HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE,

2025–2030 (THOUSAND METRIC TONS) 118

TABLE 49              HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE,

2020–2024 (USD MILLION)            118

TABLE 50              HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (USD MILLION)                 118

TABLE 51              CAPTIVE: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 119

TABLE 52              CAPTIVE: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 119

TABLE 53              CAPTIVE: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            120

TABLE 54              CAPTIVE: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            120

TABLE 55              MERCHANT: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS)                121

TABLE 56              MERCHANT: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 121

TABLE 57              MERCHANT: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            122

TABLE 58              MERCHANT: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            122

TABLE 59              MERCHANT: HYDROGEN GENERATION MARKET, BY DELIVERY MODE,

2020–2024 (THOUSAND METRIC TONS) 123

TABLE 60              MERCHANT: HYDROGEN GENERATION MARKET, BY DELIVERY MODE,

2025–2030 (THOUSAND METRIC TONS) 123

TABLE 61              MERCHANT: HYDROGEN GENERATION MARKET, BY DELIVERY MODE,

2020–2024 (USD MILLION)            123

TABLE 62              MERCHANT: HYDROGEN GENERATION MARKET, BY DELIVERY MODE,

2025–2030 (USD MILLION)            124

TABLE 63              MERCHANT: HYDROGEN GENERATION MARKET, BY STATE,

2020–2024 (THOUSAND METRIC TONS) 126

TABLE 64              MERCHANT: HYDROGEN GENERATION MARKET, BY STATE,

2025–2030 (THOUSAND METRIC TONS) 126

TABLE 65              MERCHANT: HYDROGEN GENERATION MARKET FOR GAS, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 127

TABLE 66              MERCHANT: HYDROGEN GENERATION MARKET FOR GAS, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 127

TABLE 67              MERSCHANT: HYDROGEN GENERATION MARKET FOR LIQUID, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 128

TABLE 68              MERCHANT: HYDROGEN GENERATION MARKET FOR LIQUID, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 128

TABLE 69              HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 131

TABLE 70              HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 132

TABLE 71              HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (USD MILLION)              132

TABLE 72              HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)              132

TABLE 73              PETROLEUM REFINERY: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 133

TABLE 74              PETROLEUM REFINERY: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 134

TABLE 75              PETROLEUM REFINERY: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            134

TABLE 76              PETROLEUM REFINERY: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            134

TABLE 77              AMMONIA PRODUCTION: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 135

TABLE 78              AMMONIA PRODUCTION: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 136

TABLE 79              AMMONIA PRODUCTION: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            136

TABLE 80              AMMONIA PRODUCTION: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            136

TABLE 81              METHANOL PRODUCTION: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 137

TABLE 82              METHANOL PRODUCTION: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 138

TABLE 83              METHANOL PRODUCTION: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            138

TABLE 84              METHANOL PRODUCTION: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            138

TABLE 85              TRANSPORTATION: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 139

TABLE 86              TRANSPORTATION: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 140

TABLE 87              TRANSPORTATION: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            140

TABLE 88              TRANSPORTATION: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            141

TABLE 89              POWER GENERATION: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 142

TABLE 90              POWER GENERATION: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 142

TABLE 91              POWER GENERATION: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            143

TABLE 92              POWER GENERATION: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            143

TABLE 93              OTHER APPLICATIONS: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 144

TABLE 94              OTHER APPLICATIONS: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 144

TABLE 95              OTHER APPLICATIONS: HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (USD MILLION)            145

TABLE 96              OTHER APPLICATIONS: HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (USD MILLION)            145

TABLE 97             HYDROGEN GENERATION MARKET, BY REGION,

2020–2024 (THOUSAND METRIC TONS) 148

TABLE 98             HYDROGEN GENERATION MARKET, BY REGION,

2025–2030 (THOUSAND METRIC TONS) 148

TABLE 99             HYDROGEN GENERATION MARKET, BY REGION, 2020–2024 (USD MILLION)            149

TABLE 100          HYDROGEN GENERATION MARKET, BY REGION, 2025–2030 (USD MILLION)            149

TABLE 101            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (THOUSAND METRIC TONS) 151

TABLE 102            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (THOUSAND METRIC TONS) 151

TABLE 103            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (USD MILLION)            151

TABLE 104            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (USD MILLION)            152

TABLE 105            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (THOUSAND METRIC TONS)      152

TABLE 106            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (THOUSAND METRIC TONS)      152

TABLE 107            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (USD MILLION)            152

TABLE 108            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (USD MILLION)            153

TABLE 109            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 153

TABLE 110            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 153

TABLE 111            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            154

TABLE 112            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            154

TABLE 113            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (THOUSAND METRIC TONS) 154

TABLE 114            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (THOUSAND METRIC TONS) 155

TABLE 115            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            155

TABLE 116            NORTH AMERICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            155

TABLE 117            US: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 156

TABLE 118            US: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 157

TABLE 119            US: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            157

TABLE 120            US: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            157

TABLE 121            CANADA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 158

TABLE 122            CANADA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 159

TABLE 123            CANADA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            159

TABLE 124            CANADA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            159

TABLE 125            MEXICO: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 160

TABLE 126            MEXICO: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 161

TABLE 127            MEXICO: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            161

TABLE 128            MEXICO: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            161

TABLE 129            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (THOUSAND METRIC TONS) 164

TABLE 130            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (THOUSAND METRIC TONS) 164

TABLE 131            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (USD MILLION)            164

TABLE 132            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (USD MILLION)            165

TABLE 133            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (THOUSAND METRIC TONS)      165

TABLE 134            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (THOUSAND METRIC TONS)      165

TABLE 135            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (USD MILLION)            165

TABLE 136            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (USD MILLION)            166

TABLE 137            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 166

TABLE 138            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 166

TABLE 139            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            167

TABLE 140            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            167

TABLE 141            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (THOUSAND METRIC TONS) 167

TABLE 142            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (THOUSAND METRIC TONS) 168

TABLE 143            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            168

TABLE 144            ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            169

TABLE 145            JAPAN: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 170

TABLE 146            JAPAN: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 170

TABLE 147            JAPAN: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            170

TABLE 148            JAPAN: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            171

TABLE 149            CHINA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 172

TABLE 150            CHINA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 172

TABLE 151            CHINA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            172

TABLE 152            CHINA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            173

TABLE 153            INDIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 174

TABLE 154            INDIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 174

TABLE 155            INDIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            174

TABLE 156            INDIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            175

TABLE 157            AUSTRALIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 176

TABLE 158            AUSTRALIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 176

TABLE 159            AUSTRALIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            177

TABLE 160            AUSTRALIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            177

TABLE 161            SOUTH KOREA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 178

TABLE 162            SOUTH KOREA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 178

TABLE 163            SOUTH KOREA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            179

TABLE 164            SOUTH KOREA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            179

TABLE 165            REST OF ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (THOUSAND METRIC TONS)      180

TABLE 166            REST OF ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (THOUSAND METRIC TONS)      180

TABLE 167            REST OF ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (USD MILLION)            181

TABLE 168            REST OF ASIA PACIFIC: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)            181

TABLE 169            EUROPE: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (THOUSAND METRIC TONS) 182

TABLE 170            EUROPE: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (THOUSAND METRIC TONS) 182

TABLE 171            EUROPE: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (USD MILLION)            182

TABLE 172            EUROPE: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (USD MILLION)            182

TABLE 173            EUROPE: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (THOUSAND METRIC TONS) 183

TABLE 174            EUROPE: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (THOUSAND METRIC TONS) 183

TABLE 175            EUROPE: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (USD MILLION)                 183

TABLE 176            EUROPE: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (USD MILLION)                 183

TABLE 177            EUROPE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 184

TABLE 178            EUROPE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 184

TABLE 179            EUROPE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            184

TABLE 180            EUROPE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            185

TABLE 181            EUROPE: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (THOUSAND METRIC TONS) 185

TABLE 182            EUROPE: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (THOUSAND METRIC TONS) 185

TABLE 183            EUROPE: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            186

TABLE 184            EUROPE: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            186

TABLE 185            GERMANY: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 187

TABLE 186            GERMANY: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 187

TABLE 187            GERMANY: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            188

TABLE 188            GERMANY: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            188

TABLE 189            UK: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 189

TABLE 190            UK: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 189

TABLE 191            UK: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            190

TABLE 192            UK: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            190

TABLE 193            FRANCE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 191

TABLE 194            FRANCE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 191

TABLE 195            FRANCE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            192

TABLE 196            FRANCE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            192

TABLE 197            RUSSIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 193

TABLE 198            RUSSIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 193

TABLE 199            RUSSIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            194

TABLE 200            RUSSIA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            194

TABLE 201            REST OF EUROPE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 195

TABLE 202            REST OF EUROPE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 195

TABLE 203            REST OF EUROPE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            196

TABLE 204            REST OF EUROPE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            196

TABLE 205            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (THOUSAND METRIC TONS) 197

TABLE 206            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (THOUSAND METRIC TONS) 197

TABLE 207            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (USD MILLION)            197

TABLE 208            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (USD MILLION)            198

TABLE 209            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (THOUSAND METRIC TONS)      198

TABLE 210            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (THOUSAND METRIC TONS)      198

TABLE 211            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (USD MILLION)            198

TABLE 212            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (USD MILLION)            199

TABLE 213            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 199

TABLE 214            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 199

TABLE 215            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            200

TABLE 216            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            200

TABLE 217            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (THOUSAND METRIC TONS) 200

TABLE 218            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (THOUSAND METRIC TONS) 201

TABLE 219            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            201

TABLE 220            SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            201

TABLE 221            BRAZIL: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 202

TABLE 222            BRAZIL: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 203

TABLE 223            BRAZIL: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            203

TABLE 224            BRAZIL: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            204

TABLE 225            ARGENTINA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 204

TABLE 226            ARGENTINA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 205

TABLE 227            ARGENTINA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            205

TABLE 228            ARGENTINA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            206

TABLE 229            REST OF SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (THOUSAND METRIC TONS)      206

TABLE 230            REST OF SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (THOUSAND METRIC TONS)      207

TABLE 231            REST OF SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (USD MILLION)            207

TABLE 232            REST OF SOUTH AMERICA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)            208

TABLE 233            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (THOUSAND METRIC TONS) 208

TABLE 234            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (THOUSAND METRIC TONS) 209

TABLE 235            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (USD MILLION)            209

TABLE 236            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (USD MILLION)            209

TABLE 237            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (THOUSAND METRIC TONS)      210

TABLE 238            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (THOUSAND METRIC TONS)      210

TABLE 239            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (USD MILLION)            210

TABLE 240            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (USD MILLION)            210

TABLE 241            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (THOUSAND METRIC TONS)   211

TABLE 242            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (THOUSAND METRIC TONS)   211

TABLE 243            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (USD MILLION)   211

TABLE 244            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)   212

TABLE 245            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY COUNTRY, 2020–2024 (THOUSAND METRIC TONS)                 212

TABLE 246            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY COUNTRY, 2025–2030 (THOUSAND METRIC TONS)                 212

TABLE 247            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            213

TABLE 248            MIDDLE EAST: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            213

TABLE 249            SAUDI ARABIA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (THOUSAND METRIC TONS)   214

TABLE 250            SAUDI ARABIA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (THOUSAND METRIC TONS)   215

TABLE 251            SAUDI ARABIA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (USD MILLION)   215

TABLE 252            SAUDI ARABIA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)   216

TABLE 253            QATAR: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (THOUSAND METRIC TONS)   216

TABLE 254            QATAR: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (THOUSAND METRIC TONS)   217

TABLE 255            QATAR: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            217

TABLE 256            QATAR: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            217

TABLE 257            UAE: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (THOUSAND METRIC TONS)   218

TABLE 258            UAE: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (THOUSAND METRIC TONS)   218

TABLE 259            UAE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            219

TABLE 260            UAE: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            219

TABLE 261            IRAN: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (THOUSAND METRIC TONS)   220

TABLE 262            IRAN: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (THOUSAND METRIC TONS)   220

TABLE 263            IRAN: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            221

TABLE 264            IRAN: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            221

TABLE 265            REST OF MIDDLE EAST: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (THOUSAND METRIC TONS)      222

TABLE 266            REST OF MIDDLE EAST: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (THOUSAND METRIC TONS)      222

TABLE 267            REST OF MIDDLE EAST: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (USD MILLION)            223

TABLE 268            REST OF MIDDLE EAST: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)            223

TABLE 269            AFRICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (THOUSAND METRIC TONS) 224

TABLE 270            AFRICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2020–2024 (USD MILLION)            224

TABLE 271            AFRICA: HYDROGEN GENERATION MARKET, BY SOURCE,

2025–2030 (USD MILLION)            224

TABLE 272            AFRICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (THOUSAND METRIC TONS) 224

TABLE 273            AFRICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (THOUSAND METRIC TONS) 225

TABLE 274            AFRICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2020–2024 (USD MILLION)                 225

TABLE 275            AFRICA: HYDROGEN GENERATION MARKET, BY GENERATION & DELIVERY MODE, 2025–2030 (USD MILLION)                 225

TABLE 276            AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 226

TABLE 277            AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 226

TABLE 278            AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            227

TABLE 279            AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            227

TABLE 280            AFRICA: HYDROGEN GENERATION MARKET, BY COUNTRY, 2020–2024 (THOUSAND METRIC TONS)           227

TABLE 281            AFRICA: HYDROGEN GENERATION MARKET, BY COUNTRY, 2025–2030 (THOUSAND METRIC TONS)           228

TABLE 282            AFRICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            228

TABLE 283            AFRICA: HYDROGEN GENERATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            228

TABLE 284            SOUTH AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (THOUSAND METRIC TONS)   229

TABLE 285            SOUTH AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (THOUSAND METRIC TONS)   229

TABLE 286            SOUTH AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2020–2024 (USD MILLION)   230

TABLE 287            SOUTH AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)   230

TABLE 288            REST OF AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (THOUSAND METRIC TONS) 231

TABLE 289            REST OF AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (THOUSAND METRIC TONS) 231

TABLE 290            REST OF AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2020–2024 (USD MILLION)            232

TABLE 291            REST OF AFRICA: HYDROGEN GENERATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            232

TABLE 292            HYDROGEN GENERATION MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, JANUARY 2020–JULY 2025             233

TABLE 293            HYDROGEN GENERATION MARKET: DEGREE OF COMPETITION, 2024                 235

TABLE 294            HYDROGEN GENERATION MARKET: REGION FOOTPRINT       245

TABLE 295            HYDROGEN GENERATION MARKET: SOURCE FOOTPRINT       246

TABLE 296            HYDROGEN GENERATION MARKET: APPLICATION FOOTPRINT         247

TABLE 297            HYDROGEN GENERATION MARKET: TECHNOLOGY FOOTPRINT        248

TABLE 298            HYDROGEN GENERATION MARKET: DETAILED LIST OF KEY STARTUPS/SMES   251

TABLE 299            HYDROGEN GENERATION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES                 252

TABLE 300            HYDROGEN GENERATION MARKET: PRODUCT LAUNCHES,

JANUARY 2020–JULY 2025               252

TABLE 301            HYDROGEN GENERATION MARKET: DEALS, JANUARY 2020–JULY 2025               253

TABLE 302            HYDROGEN GENERATION MARKET: EXPANSIONS, JANUARY 2020–JULY 2025  254

TABLE 303            HYDROGEN GENERATION MARKET: OTHER DEVELOPMENTS,

JANUARY 2020–JULY 2025               255

TABLE 304            LINDE PLC: COMPANY OVERVIEW           256

TABLE 305            LINDE PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED             257

TABLE 306            LINDE PLC: DEALS          258

TABLE 307            LINDE PLC: EXPANSIONS             260

TABLE 308            AIR LIQUIDE: COMPANY OVERVIEW       262

TABLE 309            AIR LIQUIDE: PRODUCTS/SOLUTIONS/SERVICES OFFERED    263

TABLE 310            AIR LIQUIDE: DEALS      264

TABLE 311            AIR LIQUIDE: EXPANSIONS         266

TABLE 312            AIR LIQUIDE: OTHER DEVELOPMENTS 266

TABLE 313            SAUDI ARABIAN OIL CO.: COMPANY OVERVIEW                 268

TABLE 314            SAUDI ARABIAN OIL CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    269

TABLE 315            SAUDI ARABIAN OIL CO.: DEALS               270

TABLE 316            SAUDI ARABIAN OIL CO.: EXPANSIONS 270

TABLE 317            AIR PRODUCTS AND CHEMICALS, INC.: COMPANY OVERVIEW   272

TABLE 318            AIR PRODUCTS AND CHEMICALS, INC.:

PRODUCTS/SOLUTIONS/SERVICES OFFERED    273

TABLE 319            AIR PRODUCTS AND CHEMICALS, INC.: DEALS                 274

TABLE 320            AIR PRODUCTS AND CHEMICALS, INC.: OTHER DEVELOPMENTS              276

TABLE 321            SHELL PLC: COMPANY OVERVIEW           278

TABLE 322            SHELL PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED             279

TABLE 323            SHELL PLC: DEALS          280

TABLE 324            SHELL PLC: EXPANSIONS             280

TABLE 325            SHELL PLC: OTHER DEVELOPMENTS     281

TABLE 326            ENGIE: COMPANY OVERVIEW    282

TABLE 327            ENGIE: PRODUCTS/SOLUTIONS/SERVICES OFFERED             283

TABLE 328            ENGIE: DEALS   284

TABLE 329            CHEVRON CORPORATION: COMPANY OVERVIEW          285

TABLE 330            CHEVRON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    286

TABLE 331            CHEVRON CORPORATION: DEALS           287

TABLE 332            ØRSTED A/S: COMPANY OVERVIEW        289

TABLE 333            ØRSTED A/S: PRODUCTS/SOLUTIONS/SERVICES OFFERED    290

TABLE 334            ØRSTED A/S: DEALS       291

TABLE 335            ØRSTED A/S: EXPANSIONS          291

TABLE 336            MESSER SE & CO. KGAA: COMPANY OVERVIEW                 292

TABLE 337            MESSER SE & CO. KGAA: PRODUCTS/SOLUTIONS/SERVICES OFFERED    293

TABLE 338            MESSER SE & CO. KGAA: DEALS 294

TABLE 339            EQUINOR ASA: COMPANY OVERVIEW    295

TABLE 340            EQUINOR ASA: PRODUCTS/SOLUTIONS/SERVICES OFFERED    296

TABLE 341            EQUINOR ASA: PRODUCT LAUNCHES    297

TABLE 342            EQUINOR ASA: DEALS   297

TABLE 343            UNIPER SE: COMPANY OVERVIEW            298

TABLE 344            UNIPER SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED             299

TABLE 345            UNIPER SE: DEALS           300

TABLE 346            UNIPER SE: OTHER DEVELOPMENTS     302

TABLE 347            EXXON MOBIL CORPORATION: COMPANY OVERVIEW          303

TABLE 348            EXXON MOBIL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    304

TABLE 349            EXXON MOBIL CORPORATION: DEALS  305

TABLE 350            BP P.L.C.: COMPANY OVERVIEW                306

TABLE 351            BP P.L.C.: PRODUCTS/SOLUTIONS/SERVICES OFFERED             307

TABLE 352            BP P.L.C.: DEALS               308

TABLE 353            BP P.L.C.: OTHERS DEVELOPMENTS       309

TABLE 354            IWATANI CORPORATION: COMPANY OVERVIEW          310

TABLE 355            IWATANI CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    311

TABLE 356            IWATANI CORPORATION: DEALS             312

TABLE 357            IWATANI CORPORATION: EXPANSIONS 312

TABLE 358            PETROLIAM NASIONAL BERHAD (PETRONAS): COMPANY OVERVIEW   313

TABLE 359            PETROLIAM NASIONAL BERHAD (PETRONAS): PRODUCTS/SOLUTIONS/SERVICES OFFERED    314

TABLE 360            PETROLIAM NASIONAL BERHAD (PETRONAS): DEALS  314

TABLE 361            PETROLIAM NASIONAL BERHAD (PETRONAS): OTHER DEVELOPMENTS              315

TABLE 362            IBERDROLA, S.A.: COMPANY OVERVIEW                 316

TABLE 363            IBERDROLA, S.A.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    317

TABLE 364            IBERDROLA, S.A.: DEALS               318

TABLE 365            IBERDROLA, S.A.: OTHER DEVELOPMENTS                 320

TABLE 366            PLUG POWER INC.: COMPANY OVERVIEW                 321

TABLE 367            REPSOL: COMPANY OVERVIEW 322

TABLE 368            AKER ASA: COMPANY OVERVIEW             323

TABLE 369            RELIANCE INDUSTRIES LIMITED: COMPANY OVERVIEW          324

TABLE 370            MATHESON TRI-GAS, INC.: COMPANY OVERVIEW          325

TABLE 371            LHYFE: COMPANY OVERVIEW   326

TABLE 372            HIRINGA ENERGY LTD: COMPANY OVERVIEW                 327

TABLE 373            BAYOTECH: COMPANY OVERVIEW          327

TABLE 374            HYGEAR: COMPANY OVERVIEW                328

LIST OF FIGURES

FIGURE 1              HYDROGEN GENERATION MARKET SEGMENTATION AND REGIONAL SCOPE              32

FIGURE 2              HYDROGEN GENERATION MARKET: RESEARCH DESIGN                37

FIGURE 3              KEY DATA FROM SECONDARY SOURCES                 38

FIGURE 4              KEY INDUSTRY INSIGHTS             40

FIGURE 5              BREAKDOWN OF PRIMARIES      41

FIGURE 6              HYDROGEN GENERATION MARKET: BOTTOM-UP APPROACH  42

FIGURE 7              HYDROGEN GENERATION MARKET: TOP-DOWN APPROACH          43

FIGURE 8              HYDROGEN GENERATION MARKET: DEMAND-SIDE ANALYSIS 43

FIGURE 9              KEY METRICS CONSIDERED TO ANALYZE DEMAND

FOR HYDROGEN GENERATION SOLUTIONS       44

FIGURE 10            KEY METRICS CONSIDERED TO ANALYZE SUPPLY OF

HYDROGEN GENERATION SOLUTIONS 45

FIGURE 11            HYDROGEN GENERATION MARKET: SUPPLY-SIDE ANALYSIS 46

FIGURE 12            HYDROGEN GENERATION MARKET: DATA TRIANGULATION             47

FIGURE 13            HYDROGEN GENERATION MARKET: RESEARCH LIMITATIONS    48

FIGURE 14            ASIA PACIFIC HELD LARGEST SHARE OF

HYDROGEN GENERATION MARKET IN 2024         50

FIGURE 15            PETROLEUM REFINERY SEGMENT TO DOMINATE HYDROGEN GENERATION MARKET DURING FORECAST PERIOD         51

FIGURE 16            GRAY HYDROGEN SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HYDROGEN GENERATION MARKET IN 2030                 51

FIGURE 17            STEAM METHANE REFORMING (SMR) SEGMENT TO HOLD LARGEST SHARE OF HYDROGEN GENERATION MARKET IN 2030  52

FIGURE 18            MERCHANT SEGMENT TO EXHIBIT HIGHER CAGR BETWEEN 2025 AND 2030 52

FIGURE 19            RISING FOCUS ON CURBING GREENHOUSE GAS EMISSIONS FROM HYDROGEN PRODUCTION PROCESSES TO CONTRIBUTE TO MARKET GROWTH      54

FIGURE 20            ASIA PACIFIC HYDROGEN GENERATION MARKET TO RECORD HIGHEST CAGR FROM 2025 TO 2030                 55

FIGURE 21            CAPTIVE SEGMENT AND CHINA HELD LARGEST SHARES OF ASIA PACIFIC HYDROGEN GENERATION MARKET IN 2024        55

FIGURE 22            STEAM METHANE REFORMING (SMR) SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2030                 56

FIGURE 23            GRAY HYDROGEN SEGMENT HELD LARGEST SHARE OF HYDROGEN GENERATION MARKET IN 2030   56

FIGURE 24            CAPTIVE SEGMENT CAPTURED LARGEST SHARE OF HYDROGEN GENERATION MARKET IN 2030   57

FIGURE 25            PETROLEUM REFINERY SEGMENT HELD LARGEST MARKET SHARE IN 2030             57

FIGURE 26            MARKET DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES     58

FIGURE 27            GLOBAL GREENHOUSE GAS EMISSIONS, BY SECTOR, 2023     59

FIGURE 28            AMMONIA DEMAND STRUCTURE, 2024  61

FIGURE 29            CUMULATIVE EMISSION REDUCTION, BY MITIGATION MEASURE, 2021–2050            62

FIGURE 30            TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS   64

FIGURE 31            SUPPLY CHAIN ANALYSIS             65

FIGURE 32            HYDROGEN GENERATION ECOSYSTEM 66

FIGURE 33            IMPORT DATA FOR HS CODE 280410-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2022–2024                 68

FIGURE 34            EXPORT DATA FOR HS CODE 280410-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2022–2024                 69

FIGURE 35            PATENTS APPLIED AND GRANTED, 2014–2024                 74

FIGURE 36            PORTER’S FIVE FORCES ANALYSIS           85

FIGURE 37            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS           87

FIGURE 38            BUYING CRITERIA FOR TOP THREE APPLICATIONS 87

FIGURE 39            IMPACT OF AI/GENERATIVE AI, BY APPLICATION   89

FIGURE 40            STEAM METHANE REFORMING (SMR) SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2024                 97

FIGURE 41            GRAY HYDROGEN SEGMENT HELD LARGEST MARKET SHARE IN 2024 108

FIGURE 42            CAPTIVE SEGMENT HELD LARGER SHARE OF

HYDROGEN GENERATION MARKET IN 2024         117

FIGURE 43            PETROLEUM REFINERY SEGMENT CAPTURED LARGEST MARKET SHARE IN 2024             131

FIGURE 44            ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN HYDROGEN GENERATION MARKET FROM 2025 TO 2030                 147

FIGURE 45            ASIA PACIFIC TO HOLD LARGEST SHARE OF

HYDROGEN GENERATION MARKET IN 2024         148

FIGURE 46            NORTH AMERICA: HYDROGEN GENERATION MARKET SNAPSHOT       150

FIGURE 47            ASIA PACIFIC: HYDROGEN GENERATION MARKET SNAPSHOT       163

FIGURE 48            MARKET SHARE ANALYSIS OF COMPANIES OFFERING HYDROGEN GENERATION TECHNOLOGIES, 2024                 236

FIGURE 49            HYDROGEN GENERATION MARKET: REVENUE ANALYSIS OF FOUR KEY PLAYERS, 2020–2024       238

FIGURE 50            COMPANY VALUATION 239

FIGURE 51            FINANCIAL METRICS (EV/EBITDA)          239

FIGURE 52            PRODUCT COMPARISON              240

FIGURE 53            HYDROGEN GENERATION MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024         242

FIGURE 54            HYDROGEN GENERATION MARKET: MARKET FOOTPRINT       243

FIGURE 55            HYDROGEN GENERATION MARKET: COMPANY FOOTPRINT       244

FIGURE 56            HYDROGEN GENERATION MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 250

FIGURE 57            LINDE PLC: COMPANY SNAPSHOT           257

FIGURE 58            AIR LIQUIDE: COMPANY SNAPSHOT       263

FIGURE 59            SAUDI ARABIAN OIL CO.: COMPANY SNAPSHOT                 269

FIGURE 60            AIR PRODUCTS AND CHEMICALS, INC.: COMPANY SNAPSHOT   273

FIGURE 61            SHELL PLC: COMPANY SNAPSHOT           279

FIGURE 62            ENGIE: COMPANY SNAPSHOT    283

FIGURE 63            CHEVRON CORPORATION: COMPANY SNAPSHOT          286

FIGURE 64            ØRSTED A/S: COMPANY SNAPSHOT        290

FIGURE 65            MESSER SE & CO. KGAA: COMPANY SNAPSHOT                 293

FIGURE 66            EQUINOR ASA: COMPANY SNAPSHOT    296

FIGURE 67            UNIPER SE: COMPANY SNAPSHOT           299

FIGURE 68            EXXON MOBIL CORPORATION: COMPANY SNAPSHOT          304

FIGURE 69            BP P.L.C.: COMPANY SNAPSHOT               307

FIGURE 70            IWATANI CORPORATION: COMPANY SNAPSHOT          311

FIGURE 71            PETRONAS NASIONAL BERHAD (PETRONAS): COMPANY SNAPSHOT   313

FIGURE 72            IBERDROLA, S.A.: COMPANY SNAPSHOT                 317