Continuing Exploration of Alternative Energy Sources Due to Increasing Demand Will Drive Hydrogen Generator Market Growth: Gmi

Hydrogen Generator Market size was valued over USD 735 million in 2015 and with estimated gains over 5.3% CAGR by 2023. Continuing exploration of alternative energy sources due to increasing demand coupled with depleting fossil fuels will drive industry growth. Stringent regulatory norms for cleaner fuels such as hydrogen by electrolysis of water using renewable energy source such as wind, solar, & water and desulfurize petroleum products and is likely to propel demand from 2016 to 2023.

Global hydrogen generator market is broadly categorized on basis of process, product, application, and capacity. Easy abundant availability of low cost natural gas feedstock coupled with high percentage purity hydrogen is anticipated to be key propelling factor for industry growth. In addition, hydrogen is used in food & beverage sector to remove harmful viruses and bacteria, which may positively impact on product demand.

Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/617

Chemical processing application was dominant and accounted more than 55% of global share in 2015. However, fuel cell technology is likely to be fastest rising market due to increase in demand from automotive sector for abiding pollution free standards. In addition, this technology is expensive compared to internal combustion engine, which may restrict its application across commercial vehicles segment. Hydrogen transportation requires high safety as it is a highly flammable fuel. Furthermore, improper distribution channels increases overall costs which may impose restrain for hydrogen generator market.

However, industry has witnessed huge investments to restrict cost related with production transportation, and distribution due to rapid industrialization coupled with rising green fuel energy solution across military, residential, and commercial which may positively impact on hydrogen generator market size growth. This will reduce dependency on...