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Saturday, 24 September 2022 06:56 GMT

Hydrogen Generation Market In North America By Future Challenges & Industry Growth Outlook To 2026


(MENAFN- Ameliorate Digital Consultancy)

Hydrogen generation market in North America size is anticipated to grow at a promising rate because the regional governments are increasing their investments to expand the current refineries and boost the production of crude oil. The authorities are launching several initiatives to reduce the sulfur content in crude oil products like diesel, gasoline, and motor oil.

Hydrogen is a zero-carbon gas that is commonly used in oil refineries as it helps in purifying the product. This gas is used to reduce the sulfur content and other contaminants in crude oil to make refined products, including petroleum, gasoline, diesel, and motor oil.

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Electrolysis process for hydrogen generation gains momentum:

Hydrogen generation by the electrolysis process is predicted to gain traction in North America as the method uses renewable sources of energy to make hydrogen. Sectors like aviation are extensively using hydrogen fuel as it does not produce any harmful emissions while flying. Data centers are another area of interest where hydrogen is used on a large scale. It can balance the electric load in grid networks used in large tech companies and help them in achieving their long-term carbon-negative emission goals.
Tax benefits are being offered across North America to companies that make widespread use of hydrogen and related products. This factor will encourage more organizations to move away from fossil fuels and switch to hydrogen energy.

Use of hydrogen in petroleum refineries:

Hydrogen generation market in North America share from petroleum refinery application is projected to rapidly increase in the future. The regional population is rising at a substantial rate, which will enhance the sale of automobiles. This is one of the important factors that will increase the consumption of petroleum products in the region. Hydrogen plays the role of a purifier in these refineries to produce saleable petroleum products.

The need to use hydrogen across many sectors in North America is growing with the aim to reduce the overall dependence of business owners on non-renewable fossil fuels.

Merchant hydrogen delivery mode for onsite generation:

Hydrogen generation market in North America size from merchant delivery mode will expand at a notable rate through 2026. The demand for onsite generation of hydrogen during oil exploration and extraction activities is steadily growing in the region. The authorities are increasing their focus on reducing the emission levels generated by the refining sector.

Risk-free or green hydrogen projects are gaining a lot of support from governments in North America in the form of heavy investments. These projects have the potential to provide hydrogen at competitive costs, which will foster the installation of hydrogen generation plants in the region.

Canada hydrogen generation market significantly grows:

Hydrogen generation market in Canada is projected to grow at a sharp rate through 2026 because the country has several manufacturing facilities. The need to have a powerful electricity generation system is growing simultaneously. Canada's refining sector is showing great signs of progress and various projects are being launched to produce hydrogen from natural gas, which can be used to energize power plants. Expansion of sectors, such as chemical, automotive, and power will foster the use of hydrogen products in the country.

To reduce carbon emissions levels, hydrogen will find high application across chemical, metal, and petroleum refining sectors in North America. Captive and merchant modes of delivering hydrogen fuel will be widely used by several sectors in the region. Processes like steam reformer and electrolysis are being used on a large scale for producing hydrogen products in the region.

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Table of Contents (ToC) of the report:

Chapter 4 Hydrogen generation market in North America, By Process (USD)
4.1 Hydrogen generation market in North America share by process, 2019 & 2026
4.2 Steam reformer
4.2.1 Market estimates and forecast, 2015 – 2026
4.2.2 Market estimates and forecast, by country, 2015 – 2026
4.3 Electrolysis
4.3.1 Hydrogen generation market in North America estimates and forecast, 2015 – 2026
4.3.2 Market estimates and forecast, by country, 2015 – 2026
4.4 Others
4.4.1 Market estimates and forecast, 2015 – 2026
4.4.2 Market estimates and forecast, by country, 2015 – 2026

Chapter 5 Hydrogen generation market in North America, By Delivery Mode (USD)
5.1 Hydrogen generation market in North America share by delivery mode, 2019 & 2026
5.2 Captive
5.2.1 Market estimates and forecast, 2015 – 2026
5.2.2 Market estimates and forecast, by country, 2015 – 2026
5.3 Merchant
5.3.1 Hydrogen generation market in North America estimates and forecast, 2015 – 2026
5.3.2 Market estimates and forecast, by country, 2015 – 2026

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