North America Hydrogen Generation Market Demand, Share, Growth and Future Opportunities
North America Hydrogen Generation Market Growth, Size, Trends Analysis - By Delivery Mode, By Process, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: May-2025 | Report ID: POAE2542 | Pages: 1 - 170 | Formats*: |
| Category : Power & Energy | |||
North America Hydrogen Generation Market Introduction and Overview
According to SPER Market Research, the North America Hydrogen Generation Market is estimated to reach USD 35.34 billion by 2034 with a CAGR of 6.06%.
The report includes an in-depth analysis of the North America Hydrogen Generation Market, including market size and trends, product mix, Applications, and supplier analysis. The market for hydrogen generation in North America was valued at USD 19.62 billion in 2024 and is expected to increase at a compound annual growth rate (CAGR) of 6.06% between 2025 and 2034. The industry environment will be enhanced by the abundance of renewable energy resources, such as wind and solar power, and the falling cost of renewable energy. This will emphasise the use of these clean energy sources to produce green hydrogen through electrolysis. The market will grow as a result of increased government financing and investments, such as the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA), which will finance and offer tax credits for carbon capture and clean hydrogen generation.
By Process Insights:
The North American hydrogen generation industry is divided into steam reformers, electrolysis, and others. The steam reformer segment is expected to lead the market in 2024 due to plentiful natural gas reserves, making it appealing for hydrogen production. The scalability of these technologies suits both centralized and distributed applications, boosting product use. Additionally, the cost-effectiveness of hydrogen production technology, especially when combined with carbon capture and storage to reduce greenhouse gas emissions, will enhance business prospects.
By Application Insights:
The North America hydrogen generation market is divided into segments: petroleum refinery, chemical, metal, and others. The metal segment is expected to grow the fastest through 2034. Stringent emission reduction targets from governments will increase the demand for clean energy. Innovations in electrolysis and steam methane reforming will also boost hydrogen adoption.
Regional Insights:
The Canadian hydrogen generation market is expected to lead the industry in 2024 due to its rich renewable energy resources, rising demand from various end-use sectors, and supporting government regulations. Strong R&D capabilities across the economy, together with large renewable energy resources like as hydroelectric power, wind energy, solar power, and biomass, will ensure a consistent and sustainable supply of electricity for electrolysis. Furthermore, the government's strong promises and increased investment, such as the Strategic Innovation Fund and the Net Zero Accelerator, will help drive product penetration.
Market Competitive Landscape:
Prominent companies are giving R&D expenditure top priority in order to create cutting-edge, economical, and efficient hydrogen production methods. This includes developments in hydrogen producing techniques that increase productivity, cut expenses, and lessen their negative effects on the environment. To address the rising demand for hydrogen, businesses are making investments in new facilities, modernising their current infrastructure, and putting modular and scalable manufacturing methods into place. As a result, they are able to offer a variety of end-use applications and seize more market opportunities.
Recent Developments:
First State Hydrogen, Inc. and Siemens Energy signed a deal in April 2024 to design and conduct an Energy System Design study for the company's green hydrogen production facility in the Mid-Atlantic. This collaboration represents a significant step forward in the development of clean hydrogen infrastructure in the US and reflects the increasing need for alternative energy sources. Linde announced plans to construct a 35-megawatt PEM (Proton Exchange Membrane) electrolyser in Niagara Falls, New York, to generate green hydrogen. The new Linde facility will more than double the company's ability to produce green liquid hydrogen in the US and will be the largest electrolyser in the world.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Delivery Mode, By Process, By Application |
| Regions covered | Canada, Mexico, United States |
| Companies Covered | Air Products and Chemicals, Inc, Ballard Power Systems, CALORIC, CF Industries, Cummins Inc, Hexagon Composites ASA, Iwatani Corporation, ITM Power plc, Linde plc, Messer, NUVERA FUEL CELLS, LLC, Nel ASA. |
- North America Hydrogen Generation Market Size (FY’2021-FY’2034)
- Overview of North America Hydrogen Generation Market
- Segmentation of North America Hydrogen Generation Market By Delivery Mode (Captive, Merchant)
- Segmentation of North America Hydrogen Generation Market By Process (Steam Reformer, Electrolysis, Others)
- Segmentation of North America Hydrogen Generation Market By Application (Petroleum Refinery, Chemical, Metal and Others)
- Statistical Snap of North America Hydrogen Generation Market
- Expansion Analysis of North America Hydrogen Generation Market
- Problems and Obstacles in North America Hydrogen Generation Market
- Competitive Landscape in the North America Hydrogen Generation Market
- Details on Current Investment in North America Hydrogen Generation Market
- Competitive Analysis of North America Hydrogen Generation Market
- Prominent Players in the North America Hydrogen Generation Market
- SWOT Analysis of North America Hydrogen Generation Market
- North America Hydrogen Generation Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPER’s internal database
- 2.1.4. Premium insight from KOL’s
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTER’s Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. North America Hydrogen Generation Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Hydrogen Generation Market
7. North America Hydrogen Generation Market, By Delivery Mode (USD Million) 2021-2034
- 7.1. Captive
- 7.2. Merchant
8. North America Hydrogen Generation Market, By Process (USD Million) 2021-2034
- 8.1. Steam Reformer
- 8.2. Electrolysis
- 8.3. Others
9. North America Hydrogen Generation Market, By Application (USD Million) 2021-2034
- 9.1. Petroleum Refinery
- 9.2. Chemical
- 9.3. Metal
- 9.4. Others
10. North America Hydrogen Generation Market, (USD Million) 2021-2034
- 10.1. North America Hydrogen Generation Market Size and Market Share
11. North America Hydrogen Generation Market, By Region, (USD Million) 2021-2034
- 11.1. Canada
- 11.2. Mexico
- 11.3. United States
12. Company Profile
- 12.1. Air Products and Chemicals, Inc
- 12.1.1. Company details
- 12.1.2. Financial outlook
- 12.1.3. Product summary
- 12.1.4. Recent developments
- 12.2. Ballard Power Systems
- 12.2.1. Company details
- 12.2.2. Financial outlook
- 12.2.3. Product summary
- 12.2.4. Recent developments
- 12.3. CALORIC
- 12.3.1. Company details
- 12.3.2. Financial outlook
- 12.3.3. Product summary
- 12.3.4. Recent developments
- 12.4. CF Industries
- 12.4.1. Company details
- 12.4.2. Financial outlook
- 12.4.3. Product summary
- 12.4.4. Recent developments
- 12.5. Cummins Inc
- 12.5.1. Company details
- 12.5.2. Financial outlook
- 12.5.3. Product summary
- 12.5.4. Recent developments
- 12.6. Hexagon Composites ASA
- 12.6.1. Company details
- 12.6.2. Financial outlook
- 12.6.3. Product summary
- 12.6.4. Recent developments
- 12.7. Iwatani Corporation
- 12.7.1. Company details
- 12.7.2. Financial outlook
- 12.7.3. Product summary
- 12.7.4. Recent developments
- 12.8. ITM Power plc
- 12.8.1. Company details
- 12.8.2. Financial outlook
- 12.8.3. Product summary
- 12.8.4. Recent developments
- 12.9. Linde plc
- 12.9.1. Company details
- 12.9.2. Financial outlook
- 12.9.3. Product summary
- 12.9.4. Recent developments
- 12.10. Messer
- 12.10.1. Company details
- 12.10.2. Financial outlook
- 12.10.3. Product summary
- 12.10.4. Recent developments
- 12.11. NUVERA FUEL CELLS, LLC
- 12.11.1. Company details
- 12.11.2. Financial outlook
- 12.11.3. Product summary
- 12.11.4. Recent developments
- 12.12. Nel ASA
- 12.12.1. Company details
- 12.12.2. Financial outlook
- 12.12.3. Product summary
- 12.12.4. Recent developments
- 12.13. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
North America Hydrogen Generation Market is projected to reach USD 35.34 billion by 2034, growing at a CAGR of of 6.06% during the forecast period.
North America Hydrogen Generation Market grew in Market size from 2025. The Market is expected to reach USD 35.34 billion by 2034, at a CAGR of 6.06% during the forecast period.
North America Hydrogen Generation Market CAGR of 6.06% during the forecast period.
You can get the sample pages by clicking the link - Click Here
North America Hydrogen Generation Market size is USD 35.34 billion from 2025 to 2034.
North America Hydrogen Generation Market is covered By Delivery Mode, By Process, By Application
The Canada, Mexico, United States is the highest Market share in the North America Hydrogen Generation Market.
Air Products and Chemicals, Inc, Ballard Power Systems, CALORIC, CF Industries, Cummins Inc, Hexagon Composites ASA, Iwatani Corporation, ITM Power plc, Linde plc, Messer, NUVERA FUEL CELLS, LLC, Nel ASA.
The report includes an in-depth analysis of the North America Hydrogen Generation Market, including market size and trends, product mix, Applications, and supplier analysis.
PLACE AN ORDER
Year End Discount
Sample Report
Pre-Purchase Inquiry
NEED CUSTOMIZATION?
Request CustomizationCALL OR EMAIL US
100% Secure Payment
Related Reports
Have a glance of the Report
Our Global Clients
Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
