(MENAFN- Ameliorate Digital Consultancy)
Hydrogen generation market in Asia Pacific is anticipated to grow at a significant rate because of the rise in demand for petroleum products like crude oil. The number of oil exploration and extraction activities are growing in the region, thereby raising the amount of investment done towards expanding the current capacity of refineries.
People across Asia Pacific have become more aware about the advantages of adopting clean fuels like hydrogen. This has prompted governments across the region to introduce favorable policies and schemes to encourage various companies and industries to use these fuels. The regional authorities have introduced incentives for organizations that are using different techniques to reduce the sulfur content in their fuels like diesel, gasoline and motor oil.
The trends that will boost the development of Hydrogen generation market in Asia Pacific are discussed below:
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Hydrogen generation with steam methane reforming process:
Companies use various processes to generate hydrogen like steam methane reforming and electrolysis. Among them, steam methane reforming process is anticipated to rise in demand among end-users in APAC region. A major reason for this is that the regional companies are incurring lesser operational costs because they have easier access to a large number of traditional fuels. Apart from this, the process has many other economic and operational advantages to offer to the end-user.
The governments across Asia Pacific are enforcing stringent norms with the aim to reduce the dependence of companies on fossil fuels. Steam methane reforming process is being extensively used today by a wide range of central oil and gas refineries as it is quite an effective method of producing hydrogen. All these factors will have a positive impact on the Hydrogen generation market in Asia Pacific.
Hydrogen powered car development gathers pace:
Many companies in APAC region are trying out different technologies to create hydrogen-powered cars. Governments across the region are encouraging this move by bringing in favorable initiatives and schemes. The rate of urbanization in Asia Pacific has grown by many folds over the years. People in many countries across the region are raising the demand for sustainable living, thereby prompting the real estate developers to create smart building infrastructure. Across the automotive segment, car manufacturers are creating innovative designs that effectively make use of hydrogen as the primary fuel.
Petroleum products are undergoing a healthy change as the sulfur content present in them is being reduced to a great extent with the help of desulfurization method. It has encouraged the demand for hydrogen-based cars in the region.
Hydrogen delivery via merchant system:
Merchant hydrogen delivery mode is expected to gain traction in Asia Pacific over the coming years as the authorities have placed strict rules regarding the emission rate across oil refineries. The demand for generating oil from onshore plants has risen and so has the amount of investment done in hydrogen projects carrying lower risks than others. These projects have the capacity to offer hydrogen at lower prices. All these aspects will positively contribute towards the progress of Hydrogen generation market in Asia Pacific.
China hydrogen generation market witnesses significant progress:
China hydrogen generation industry size is could expand at a notable rate in the future as the manufacturing plants in the country are undergoing rapid expansion to accommodate the rising need for clean fuels. The population of the nation is growing at a swift rate, thereby multiplying the demand for hydrogen fuel. Industrial establishments in chemical, semiconductor and automotive sectors are witnessing robust expansion, which is another factor fostering the development of hydrogen generation market in the country.
Clean fuels and sustainable living have become the need of the hour for many countries across Asia Pacific. Organizations like Nel ASA, Plug Power, Messer, Ally Hi-Tech, Ballard Power Systems and many others are engaging in intense research and development activities to find practical and beneficial uses of hydrogen in various sectors like automotive and chemical. They are creating advanced technologies to make efficient use of this clean fuel in several commercial and residential areas.
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Table of Contents (ToC) of the report:
Chapter 4 Hydrogen generation market in Asia Pacific Share, By Deliver Mode (USD)
4.1 Hydrogen generation market in Asia Pacific share by delivery mode, 2019 & 2026
4.2.1 Market estimates and forecast, 2015 – 2026
4.2.2 Market estimates and forecast, by country, 2015 – 2026
4.3.1 Market estimates and forecast, 2015 – 2026
4.3.2 Market estimates and forecast, by country, 2015 – 2026
Chapter 5 Hydrogen generation market in Asia Pacific Share, By Process (USD)
5.1 Hydrogen generation market in Asia Pacific share by process, 2019 & 2026
5.2 Steam methane reforming
5.2.1 Market estimates and forecast, 2015 – 2026
5.2.2 Market estimates and forecast, by country, 2015 – 2026
5.3.1 Market estimates and forecast, 2015 – 2026
5.3.2 Market estimates and forecast, by country, 2015 – 2026
5.4.1 Market estimates and forecast, 2015 – 2026
5.4.2 Hydrogen generation market in Asia Pacific estimates and forecast, by country, 2015 – 2026
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