Canada Hydrogen Generation Market Size & Outlook
Canada hydrogen generation market, 2018-2030 (US$B)
Related Markets
Canada hydrogen generation market highlights
- The Canada hydrogen generation market generated a revenue of USD 2.8 billion in 2023 and is expected to reach USD 5.7 billion by 2030.
- The Canada market is expected to grow at a CAGR of 10.5% from 2024 to 2030.
- In terms of segment, ammonia production was the largest revenue generating application in 2023.
- Methanol Production is the most lucrative application segment registering the fastest growth during the forecast period.
Hydrogen generation market data book summary
| Market revenue in 2023 | USD 2.8 billion |
| Market revenue in 2030 | USD 5.7 billion |
| Growth rate | 10.5% (CAGR from 2023 to 2030) |
| Largest segment | Ammonia production |
| Fastest growing segment | Methanol Production |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Methanol Production, Ammonia Production, Petroleum Refinery, Transportation, Power Generation |
| Key market players worldwide | Air Liquide SA, Air Products & Chemicals Inc, Cummins Inc, Iwatani Corp, Linde PLC, Nippon Sanso Holdings Corp, Tokyo Gas Co Ltd |
Other key industry trends
- In terms of revenue, Canada accounted for 1.7% of the global hydrogen generation market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. hydrogen generation market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 5.7 billion by 2030.
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Hydrogen Generation Market Scope
Hydrogen Generation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada hydrogen generation market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hydrogen generation market will help companies and investors design strategic landscapes.
Ammonia production was the largest segment with a revenue share of 25% in 2023. Horizon Databook has segmented the Canada hydrogen generation market based on methanol production, ammonia production, petroleum refinery, transportation, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
Canada participated in the 2015 United Nations Climate Change Conference organized in Paris, France wherein it pledged to make a plan for cutting down its carbon emissions. The country committed to cut down 30% of its carbon emissions by 2030 as compared to that in 2005, which served as the baseline.
In order to achieve the aforementioned, in 2017, the Canadian government launched Generation Energy, which was an open and inclusive countrywide dialogue including stakeholders, experts, and the public. Views from these dialogues were combined and a plan was made, which was published in June 2018.
High rate of adoption of hydrogen requires huge economical investments due to capital intensive nature of the business along with growing industrial and commercial activity. Canada follows the trends prevailing in the U.S. market, although the hydrogen distribution in the country are much smaller in terms of volume, than the U.S.
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Target buyers of Canada hydrogen generation market databook
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Our clientele includes a mix of hydrogen generation market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada hydrogen generation market , including forecasts for subscribers. This country databook contains high-level insights into Canada hydrogen generation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada hydrogen generation market size, by application, 2018-2030 (US$B)
Canada Hydrogen Generation Market Outlook Share, 2023 & 2030 (US$B)
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