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Southeast Asia Hydrogen Generation Market Size (2024 - 2029)

The Southeast Asia hydrogen generation market is projected to experience substantial growth over the forecast period, driven by increased government regulations aimed at reducing greenhouse gas emissions and promoting hydrogen production and consumption. Despite the challenge posed by high capital costs associated with hydrogen energy storage, advancements in technology for extracting hydrogen from renewable sources and its expanding applications as a fuel are expected to offer significant growth opportunities. Indonesia is anticipated to be a key player in this market expansion within the region.

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Market Size of Southeast Asia Hydrogen Generation Industry

Southeast Asia Hydrogen Generation Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 8.75 Billion
Market Size (2029) USD 9.72 Billion
CAGR (2024 - 2029) 2.14 %
Market Concentration Low

Major Players

Southeast Asia Hydrogen Generation Market Major Players

*Disclaimer: Major Players sorted in no particular order

Southeast Asia Hydrogen Generation Market Analysis

The Southeast Asia Hydrogen Generation Market size is estimated at USD 8.75 billion in 2024, and is expected to reach USD 9.72 billion by 2029, at a CAGR of 2.14% during the forecast period (2024-2029).

  • Over the medium term, factors such as supportive government policies and 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 production costs of hydrogen energy storage are expected to restrain the growth of hydrogen generation.
  • Nevertheless, technological advancements in extracting hydrogen from renewable sources including nuclear, wind, solar, biomass, hydro, and geothermal coupled with the rising applications of hydrogen as a fuel, are poised to unlock lucrative growth opportunities for the hydrogen generation market in the years ahead.
  • Indonesia is expected to witness significant growth in the Southeast Asian hydrogen generation market during the forecast period. Owing to to supportive goverment policies and investments.

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. The report also covers the size and forecasts for the hydrogen generation market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (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
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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.

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Southeast Asia Hydrogen Generation Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Demand From Refining And Industrial Sector

        2. 1.5.1.2 Favourable Government Policies

      2. 1.5.2 Restraints

        1. 1.5.2.1 High Capital Costs For Hydrogen Energy Storage

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

    8. 1.8 Investment Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Source (Qualitative Analysis)

      1. 2.1.1 Blue Hydrogen

      2. 2.1.2 Green Hydrogen

      3. 2.1.3 Grey Hydrogen

    2. 2.2 Technology

      1. 2.2.1 Steam Methane Reforming (SMR)

      2. 2.2.2 Coal Gasification

      3. 2.2.3 Other Technologis

    3. 2.3 Application

      1. 2.3.1 Oil Refining

      2. 2.3.2 Chemical Processing

      3. 2.3.3 Iron & Steel Production

      4. 2.3.4 Other Applications

    4. 2.4 Geography

      1. 2.4.1 Indonesia

      2. 2.4.2 Malaysia

      3. 2.4.3 Vietnam

      4. 2.4.4 Singapore

      5. 2.4.5 Rest of Southeast Asia

Southeast Asia Hydrogen Generation Market Size FAQs

The Southeast Asia Hydrogen Generation Market size is expected to reach USD 8.75 billion in 2024 and grow at a CAGR of 2.14% to reach USD 9.72 billion by 2029.

In 2024, the Southeast Asia Hydrogen Generation Market size is expected to reach USD 8.75 billion.

Southeast Asia Hydrogen Generation Market Report Snapshots

Southeast Asia Hydrogen Generation Market Size & Share Analysis - Growth, Trends, And Forecasts (2024 - 2029)