Global Steam Methane Reforming Market: Overview
The expanding hydrogen generation industry as emerged as a crucial driver of the global steam methane reformers market, considering steam methane reforming has remained the most economical method of producing hydrogen. Steam methane reforming primarily involves two reactions: Water gas shift reaction and the reforming reaction. In case of the latter, natural gas is usually missed with steam and then heated at a very high temperature to derive hydrogen and carbon monoxide.
The global steam methane reforming market can be segmented based on type into primary reformers, secondary reformers, compact reformers, and pre-reformers. The report presents in-depth insights into the various factors influencing the market’s trajectory across the aforementioned segments. Based on region, the global steam methane reforming market can be classified into North America, Asia Pacific, Europe, and Rest of the World. Growth drivers and key restraints affecting the market’s growth across the regional segments are identified and analyzed in detail.
The report is thus compiled to enable stakeholders understand the prevailing dynamics and growth potential of the global steam methane reforming market in detail. It uses industry-leading analytical tools to gauge the competitive strength of various market players. Results obtained from the evaluation of suppliers’ and buyers’ bargaining power are included in the report as well.
Global Steam Methane Reforming Market: Trends and Opportunities
Hydrogen finds use across diverse applications ranging from chemical processing, fuel cells, petroleum recovery, and refining to metal production. Among these, the demand for hydrogen is the highest in the petroleum refinery and ammonia production segments. The transportation industry also promises considerable growth opportunities for the market as it is expected to emerge one of the leading hydrogen consumers in the coming years. Considering expansion witnessed in these segments and industrialization across emerging nations, the future of the global steam methane reforming market seems highly positive. Also the use of fuel cells has augmented considerably in the past few years, accelerating sales opportunities in the steam methane reforming market. With industries inclining toward smaller size and portable products, in future the demand for steam methane reformers is expected to increase further.
Global Steam Methane Reforming Market: Regional Outlook
Regionally, Asia Pacific is currently occupying the majority share in the global steam methane reforming market. The rising number of petrochemical complexes and refineries in the region, the steam methane reforming market is forecast to pick up pace in Asia Pacific in the coming years. Besides this, the large population across leading Asia Pacific economies also bolsters the demand for hydrogen and thus methane reformers across diverse sectors.
In the coming years, Europe is expected to emerge as a lucrative market for steam methane reformers. However, experts find the demand profiles in Eurasian countries and Europe much different from one another. While Russia boasts massive petrochemical capacities and large refineries, the refinery industry in Europe is slowly diminishing. On the other hand in Europe, the transportation sector is expected to remain a key consumer of hydrogen and thus steam methane reforming. Because the market is nearly mature in North America, it is expected to showcase a slowing rate of growth in the region.
Global Steam Methane Reforming Market: Vendor Landscape
Besides identifying growth drivers, key restraints, and opportunities, the report also profiles some of the leading players operating in the global steam methane reforming market. Some of these companies are CB&I Company, Linde AG, Chevron Lummus Global LLC, Axens, Foster Wheeler, DuPont, KBR Inc, Haldor Topsoe, GTC Technology, Shell Global Solutions, Flour Corporation, Exxon Mobil, and UOP among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.