Market Size of United States Hydrogen Generation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Hydrogen Generation Market Analysis
The United States hydrogen generation market is expected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, increasing investment in the development of hydrogen plants will likely drive the United States hydrogen generation market during the forecast period.
- On the other hand, high capital costs of hydrogen energy storage are expected to restrain the United States hydrogen generation market.
- Nevertheless, technological advancements in extracting hydrogen from renewable sources and increased applications of hydrogen as a fuel will likely create lucrative growth opportunities for the United States hydrogen generation market in the forecast period.
