Owing to the increasing number of secondary use industries, hydrogen has witnessed increasing applications in refinery hydro processing. This has positively impacted the demand for hydrogen around the world. In addition, hydrogen is also essential in the production of clean fuels that are finding wide range of applications across various industries. Consequently the demand for hydrogen and hydrogen electrolyzers has gone up significantly.
As per a recent study by Future Market Insights on the global market for hydrogen electrolyzers, the CAGR is projected to reach more than 7% in 2019. Some of the major influencers of market include the rising levels of disposable income in developing countries and government support towards the promotion using hydrogen in end-use industries.
Growing Requirement of On-site Production of Hydrogen Increases Demand
The production of hydrogen at the site of end use, is gaining on the terms of adoption rates owing to the numerous monetary and eco-friendly benefits that can be derived from the process. For example, on site hydrogen production reduces costs of transportation and the resultant emissions of pollutants.
Moreover, the risk of handling or storing this flammable gas is also reduced, along with the requirements for capital investment. It also helps manufacturers, to get closer to sustainability, by generating hydrogen, through eco-friendly methods such as the electrolysis of water.
Moreover, such green methods of hydrogen production are ideal for remote locations, where other sources of fuel are not easily available. All of these factors together, are anticipated to have a significant impact on the rise of on-site hydrogen generation.
For example, US based industrial gas manufacturer, Air Products, announced its plan to open up a new on-site liquid hydrogen production facility in California, with the aim of meeting the needs of vehicles running on hydrogen fuel cells, and improving the robustness of the company’s supply chain for the delivery of liquid hydrogen.
Improvements in Hydrogen Processing Boosts Tech Advancements
Hydrogen has found increasing application various processes such as refinery hydro-processing, in recent times. This has been a key factor that is contributing to the rise of the hydrogen market worldwide. Moreover, the growing demand for ultra-low sulfur diesel fuel in various countries of the Middle East have create a large requirement for hydrogen electrolyzers owing to their essentiality in the production process.
In addition, eco-friendly nature of hydrogen as an energy source, has raised its demand particularly in developed nations, consequently propelling the overall demand for hydrogen electrolyzers.
The activities of the worldwide hydrogen electrolyzer sector has also contributed towards the development of new technologies to increase the efficacy of hydrogen production processes and power generation capacities of hydrogen fuel cells.
For example, researchers at the Idaho National Laboratory have created a process for producing high-performance electrochemical hydrogen, with the unique use of self-assembling ceramic steam electrodes from woven mats, at a record low temperature. This provides new scope for the use of hydrogen in various fields including refining oil, fuel for transport, and production of petrochemicals.
Find more insights on the worldwide market for hydrogen electrolyzers, by clicking here.