Global Steam Methane Reforming Market is expected to reach US$ XX Mn by 2027 from US$ XX Mn in 2019 at a CAGR of 5.6 % during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Steam Methane Reforming MarketGlobal Steam Methane Reforming Market Dynamics:
Steam methane reforming (SMR) is the cost-effective hydrogen production technology commonly used in a refinery, and it contributes around 50% of the hydrogen production across the world. SMR is the most important process for industrial hydrogen manufacturing, which accounted for 60% of the hydrogen produced in the US and 40% in the world.
The global steam methane reforming market is driven by the expanding hydrogen generation industry and the growing industrialization across developing countries in the world. However, the mass and heat transfer issues and coke deposition during the reaction may hamper the market growth at the global level. The transportation industry is expected to emerge as one of the leading hydrogen consumers in the coming years, which is creating beneficial growth opportunities for the global steam methane market.
Global Steam Methane Reforming Market Segment Analysis:
The report covers the detailed analysis of all segments in the global steam methane reforming markets such as type, application, and region. Based on application, the refinery segment has led the global steam methane reforming market in 2019 and is expected to reach US$ xx Mn during the forecast period, with a CAGR of xx%. The majority of demand for hydrogen is in oil refinery and ammonia production. The increasing vehicle population and the rising demand for refined products, especially in Asia-Pacific, are likely to propel the segment growth in the market during the forecast period.
Global Steam Methane Reforming Market Regional Insights:
North America contributed a market share of xx% in 2019 and is expected to reach US$ xx Mn by the end of 2027, with a CAGR of xx%. The presence of a large number of refineries and key players are fuelling the market growth in the region. Developed countries such as the US and Canada are the leading contributor to regional market growth. Among these, the US accounted for the largest market share of xx% in 2019 and is estimated to grow at the CAGR of xx% during the forecast period. The majority of hydrogen (95%) produced in the United States is made by steam reforming of natural gas that accounted for around xx million tons of hydrogen per year.
In terms of value, Asia Pacific is projected to grow at a CAGR of xx% during the forecast period. The large population across developing countries in Asia pacific is bolstering the demand for hydrogen and has made a positive impact on the steam methane reformers in various industries. The rising number of petrochemical complexes and refineries, which will impel the steam methane reforming market in the Asia Pacific. e.g., the Reliance Industries-owned Jamnagar Refinery is the largest global oil refineries in 2019, which held a capacity of 1.24 million barrels per day.
Europe is showing steady growth in the steam methane reforming market during the forecast period. The availability of petrochemical capacities and large refineries will drive market growth in the coming years.
Global Steam Methane Reforming Market Recent Development:
The report covers the recent developments in the market for the steam methane reforming market e.g., Air Liquide announces startup of new steam methane reformer in La Porte, Texas
The objective of the report is to present a comprehensive analysis of the global steam methane reforming market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding global steam methane reforming market dynamics, structure by analyzing the market segments and project the global steam methane reforming market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the global steam methane reforming market make the report investor’s guide.
Global Steam Methane Reforming Market Scope:
Global Steam Methane Reforming Market, by Type
• Primary reformers
• Secondary reformers
• Compact reformers
Global Steam Methane Reforming Market, by Application
• Chemical Industry
Global Steam Methane Reforming Market, by Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Steam Methane Reforming Market Key Players:
• Honeywell UOP
• Air Liquide
• Linde AG
• Chevron Lummus Global, LLC
• Amec Foster Wheeler
• Air Products and Chemicals, Inc.
• Caloric Anlangenbau GmbH
• KBR, Inc.
• Heurtey Petrochem Solutions
• Haldor Topsoe
• Foster Wheeler AG
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