U.S. Hydrogen Generation Market Size & Outlook, 2023-2030
U.S. hydrogen generation market, 2018-2030 (US$B)
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U.S. hydrogen generation market highlights
- The U.S. hydrogen generation market generated a revenue of USD 19.9 billion in 2023 and is expected to reach USD 35.8 billion by 2030.
- The U.S. market is expected to grow at a CAGR of 8.8% 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 19.9 billion |
| Market revenue in 2030 | USD 35.8 billion |
| Growth rate | 8.8% (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, U.S. accounted for 11.7% 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 |
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U.S. 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 20.6% in 2023. Horizon Databook has segmented the U.S. 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.
The U.S. is among the early adopters of clean energy solutions in the world for sectors such as power generation, manufacturing, and transportation. The U.S. Department of Energy (DOE) and Department of Transportation (DOT) introduced a Hydrogen Posture Plan.
The aim of this plan was to enhance R&D and validate technologies that can be employed for setting up hydrogen infrastructure. Moreover, this plan provided deliverables that were set by the Federal government to support the development of hydrogen infrastructure in the country.
The plan was developed in accordance with the National Hydrogen Energy Vision and Roadmap. Moreover, in 2014, the U.S. Department of Energy launched a project to leverage the potential support received by H2USA from the National Laboratories.
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Target buyers of U.S. 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 U.S. hydrogen generation market , including forecasts for subscribers. This country databook contains high-level insights into U.S. hydrogen generation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
U.S. hydrogen generation market size, by application, 2018-2030 (US$B)
U.S. Hydrogen Generation Market Outlook Share, 2023 & 2030 (US$B)
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