PUBLISHER: Grand View Research | PRODUCT CODE: 1772322
PUBLISHER: Grand View Research | PRODUCT CODE: 1772322
Hydrogen Generator Market Summary
The global hydrogen generator market size was valued at USD 749.7 million in 2024 and is projected to reach USD 1,120.3 million by 2030, growing at a CAGR of 7.0% from 2025 to 2030. Market growth is expected to be driven by increasing awareness regarding sustainability and the use of renewable energy, owing to the rising global concerns over climate change and carbon emissions.
Governments across countries are expanding their hydrogen generation and export capabilities. For instance, under its National Green Hydrogen Mission, the Government of India aims to make the country a global hub for the production, usage, and export of green hydrogen and its derivatives by 2030. Countries across North America, Asia Pacific, and Latin America are witnessing a surge in demand for hydrogen generators. Governments worldwide are also implementing supportive policies and incentive programs to promote hydrogen as a viable alternative to fossil fuels, particularly in sectors such as transportation and industrial applications.
Ongoing advancements in hydrogen generation technologies, including steam methane reforming and electrolysis, are enhancing efficiency and reducing production costs. The rising interest in hydrogen fuel cell electric vehicles (FCEVs) is also contributing to market expansion, particularly in regions like North America, where infrastructure development for hydrogen refueling stations is underway. Furthermore, the increasing use of hydrogen in chemical processing and refining applications underscores its versatility and importance in various industries, solidifying its role in the transition to a sustainable energy future.
The market is experiencing significant growth, primarily due to the global shift toward clean and renewable energy sources, spurred by increasing concerns over climate change and the need to reduce carbon emissions. Governments of various countries are implementing supportive policies and incentive programs to promote hydrogen as a sustainable alternative to traditional fossil fuels, particularly in transportation and industrial sectors. For instance, in the U.S., hydrogen policy is guided by the U.S. Department of Energy's Hydrogen Program Plan. The plan emphasizes innovation, commercialization, and market expansion of hydrogen technologies. This includes incentives such as tax benefits, R&D, and public-private partnership. The rising demand for hydrogen in fuel cells, especially for electric vehicles, is also a key driver, as it offers low emissions and high efficiency.
The market presents numerous growth opportunities driven by the global push for clean energy solutions. As per the International Energy Agency (IEA), since 1975, the demand for hydrogen gas has tripled. Most of it is produced from fossil fuels, accounting for about 6% of global natural gas use and 2% of global coal consumption. Significant opportunity lies in the increasing focus on achieving net-zero emission targets by 2050, prompting investments in hydrogen technologies across various sectors. The demand for portable hydrogen generators is anticipated to grow rapidly, fueled by a shift toward renewable energy and the need for decentralized energy solutions. In buildings, hydrogen could be blended into existing natural gas networks, with the highest potential in multifamily and commercial buildings, particularly in dense cities, while long-term prospects could include the direct use of hydrogen in hydrogen boilers or fuel cells.
Global Hydrogen Generator Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each sub-segment from 2018 to 2030. For this study, Grand View Research has segmented the global Hydrogen Generator market report based on product, process, application, and region: