Market Size of Southeast Asia Hydrogen Generation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 15.58 Billion |
| Market Size (2029) | USD 47.57 Billion |
| CAGR (2024 - 2029) | 25.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Hydrogen Generation Market Analysis
The Southeast Asia Hydrogen Generation Market size is estimated at USD 15.58 billion in 2024, and is expected to reach USD 47.57 billion by 2029, growing at a CAGR of 25% during the forecast period (2024-2029).
• Over the medium term, factors such as increased government regulations for desulphurization, greenhouse gas emissions, and encouraging the production and consumption of hydrogen are likely to drive the hydrogen generation market in the Southeast Asian region during the forecast period.
• On the other hand, the high capital costs of hydrogen energy storage are expected to restrain the growth of hydrogen generation.
• Nevertheless, technological advancements in extracting hydrogen from renewable sources and increased applications of hydrogen as a fuel are likely to create lucrative growth opportunities for the hydrogen generation market in the coming years.
• Indonesia is expected to witness significant growth in the Southeast Asian hydrogen generation market during the forecast period.
Southeast Asia Hydrogen Generation Industry Segmentation
Hydrogen generation is an industrial process for generating hydrogen gas from diverse domestic resources, including fossil fuels, biomass, and water electrolysis with electricity. There are several processes to produce hydrogens, such as natural gas reforming/gasification, electrolysis, renewable liquid reforming, and fermentation.
The Southeast Asia hydrogen generation market is segmented by source, technology, application, and geography. By source, the market is segmented into blue hydrogen, grey hydrogen, and green hydrogen; by technology, the market is segmented into steam methane reforming (SMRR), coal gasification, and other technologies; by application, the market is segmented into oil refining, chemical processing, iron & steel production, and other applications and by Geography the market is segmented into Indonesia, Malaysia, Vietnam, Singapore, and Rest of Southeast Asia. For each segment, the market sizing and forecasts were made based on revenue capacity in USD.
| Source (Qualitative Analysis) | |
| Blue Hydrogen | |
| Green Hydrogen | |
| Grey Hydrogen |
| Technology | |
| Steam Methane Reforming (SMR) | |
| Coal Gasification | |
| Other Technologis |
| Application | |
| Oil Refining | |
| Chemical Processing | |
| Iron & Steel Production | |
| Other Applications |
| Geography | |
| Indonesia | |
| Malaysia | |
| Vietnam | |
| Singapore | |
| Rest of Southeast Asia |
Southeast Asia Hydrogen Generation Market Size Summary
The Southeast Asia hydrogen generation market is poised for substantial growth, driven by increasing government regulations aimed at reducing greenhouse gas emissions and promoting hydrogen production and consumption. Despite the high capital costs associated with hydrogen energy storage, technological advancements in extracting hydrogen from renewable sources and its expanding applications as a fuel present significant growth opportunities. Indonesia is expected to be a key player in this market, with notable developments in green hydrogen projects and increasing steel production, which relies on hydrogen for cost-effective manufacturing. The market is characterized by a reliance on grey hydrogen, produced from natural gas and coal, due to its lower manufacturing costs compared to blue and green hydrogen, although this practice is facing scrutiny due to its carbon-intensive nature.
The market landscape is consolidated, with major players such as Linde Plc, Air Liquide SA, and Engie S.A. actively participating in the region. Initiatives like the development of green hydrogen facilities and partnerships for low-carbon hydrogen production are underway, particularly in Indonesia and Malaysia. These efforts are part of a broader strategy to transition towards more sustainable energy sources, aligning with regional goals to minimize emissions from heavy industries. The ongoing projects and collaborations are expected to enhance hydrogen generation capabilities in Southeast Asia, with Indonesia leading the charge in adopting green hydrogen technologies as part of its national energy plan.
Southeast Asia Hydrogen Generation Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Increasing Demand From Refining And Industrial Sector
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1.5.1.2 Favourable Government Policies
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1.5.2 Restraints
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1.5.2.1 High Capital Costs For Hydrogen Energy Storage
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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1.8 Investment Analysis
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2. MARKET SEGMENTATION
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2.1 Source (Qualitative Analysis)
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2.1.1 Blue Hydrogen
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2.1.2 Green Hydrogen
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2.1.3 Grey Hydrogen
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2.2 Technology
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2.2.1 Steam Methane Reforming (SMR)
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2.2.2 Coal Gasification
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2.2.3 Other Technologis
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2.3 Application
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2.3.1 Oil Refining
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2.3.2 Chemical Processing
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2.3.3 Iron & Steel Production
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2.3.4 Other Applications
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2.4 Geography
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2.4.1 Indonesia
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2.4.2 Malaysia
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2.4.3 Vietnam
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2.4.4 Singapore
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2.4.5 Rest of Southeast Asia
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Southeast Asia Hydrogen Generation Market Size FAQs
How big is the Southeast Asia Hydrogen Generation Market?
The Southeast Asia Hydrogen Generation Market size is expected to reach USD 15.58 billion in 2024 and grow at a CAGR of 25% to reach USD 47.57 billion by 2029.
What is the current Southeast Asia Hydrogen Generation Market size?
In 2024, the Southeast Asia Hydrogen Generation Market size is expected to reach USD 15.58 billion.
