South Korea Hydrogen Generation Market Size & Outlook
South Korea hydrogen generation market, 2018-2030 (US$B)
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South Korea hydrogen generation market highlights
- The South Korea hydrogen generation market generated a revenue of USD 4.0 billion in 2023 and is expected to reach USD 7.1 billion by 2030.
- The South Korea market is expected to grow at a CAGR of 8.4% from 2024 to 2030.
- In terms of segment, ammonia production was the largest revenue generating application in 2023.
- Transportation 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 4.0 billion |
| Market revenue in 2030 | USD 7.1 billion |
| Growth rate | 8.4% (CAGR from 2023 to 2030) |
| Largest segment | Ammonia production |
| Fastest growing segment | Transportation |
| 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, South Korea accounted for 2.4% 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 Asia Pacific, China hydrogen generation market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 19.8 billion by 2030.
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Hydrogen Generation Market Scope
Hydrogen Generation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 22.5% in 2023. Horizon Databook has segmented the South Korea 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.
South Korea witnessed the worst air quality among the 35 OECD developed nations in 2021. This encouraged the government to introduce a number of green growth programs, which, in turn, paved the way for the structural growth of the economy and numerous green technologies for different sectors.
As of December 2021, there were around 34 hydrogen fueling stations in the country. In January 2019 government introduced hydrogen economy plan under which the government aims to have 1,200 hydrogen filing stations by and 2040 across the country.
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Target buyers of South Korea 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 South Korea hydrogen generation market , including forecasts for subscribers. This country databook contains high-level insights into South Korea hydrogen generation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea hydrogen generation market size, by application, 2018-2030 (US$B)
South Korea Hydrogen Generation Market Outlook Share, 2023 & 2030 (US$B)
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