Steam Methane Reforming (SMR) Market grows with rising hydrogen demand in energy, refining & chemicals, supported by cost-effective, tech-advanced SMR production methods.

According to the TechSci Research report, “Steam Methane Reforming Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F,” the global steam methane reforming (SMR) market was valued at USD 123.56 billion in 2024 and is projected to reach USD 170.54 billion by 2030, growing at a CAGR of 5.36% during the forecast period. This growth is being fueled by increasing demand for hydrogen across a wide range of industries, alongside continuous technological advancements that are making SMR more efficient and sustainable.

Steam methane reforming remains the most widely used and cost-effective method for producing hydrogen, especially in large-scale industrial settings. The growing global emphasis on clean energy, climate change mitigation, and decarbonization is driving investments in hydrogen infrastructure, where SMR plays a pivotal role. Although green hydrogen produced via electrolysis has received considerable attention, SMR is expected to maintain a strong market position due to its economic efficiency, scalability, and compatibility with carbon capture, utilization, and storage (CCUS) technologies.

Recent developments in SMR technology—such as enhanced catalyst performance, modular reformer units, and improved thermal integration—have contributed to higher hydrogen yields and lower operational costs. These innovations also help reduce greenhouse gas emissions, positioning SMR as a more sustainable hydrogen production option, particularly when paired with CCUS systems. This growing emphasis on decarbonizing hydrogen production has led to the emergence of "blue hydrogen," where SMR is combined with carbon capture to minimize environmental impact.

The increasing demand for hydrogen across diverse applications—including fuel cells, chemical processing, steelmaking, power generation, and energy storage—is significantly boosting the SMR market. As global industries transition toward net-zero emissions, hydrogen is gaining prominence as a versatile and clean energy carrier. SMR’s established infrastructure and technological maturity make it a critical component in meeting this demand, particularly in regions where renewable energy availability for green hydrogen remains limited or intermittent.

Application Insights: Petroleum Refining Segment Leads the Market

In 2024, the petroleum refining segment accounted for the largest share of the global SMR market. This dominance is primarily attributed to the essential role of hydrogen in refining processes such as hydrocracking, desulfurization, and the production of cleaner, high-value fuels. As countries enforce stricter regulations on fuel emissions and sulfur content, refineries are increasingly relying on SMR to produce the hydrogen required to comply with these environmental standards.

Hydrogen enables refiners to process heavier crude oils and meet specifications for ultra-low sulfur fuels. SMR provides a dependable and efficient source of hydrogen to facilitate these operations. In regions with abundant natural gas supplies—such as North America and the Middle East—SMR offers a particularly attractive hydrogen production route due to its cost advantages and consistent performance.

In response to rising environmental concerns and tightening regulations, refineries are also investing in technologies to lower their carbon footprints. Integrating SMR systems with carbon capture solutions is a strategic approach to achieving sustainability goals while maintaining productivity. This integration is fostering a new era of cleaner refining operations and is expected to drive further SMR market growth.

Moreover, advancements in SMR technology, including the development of compact modular units and digital process controls, are helping refineries optimize energy consumption and reduce operational costs. These innovations also support flexibility and scalability, allowing refineries to adjust hydrogen output according to market demand and feedstock availability.

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Regional Outlook: Asia-Pacific Leads in Growth

The Asia-Pacific region is emerging as the fastest-growing market for steam methane reforming, underpinned by rapid industrialization, rising energy consumption, and a growing focus on hydrogen as a clean energy vector. Key economies such as China, India, and Japan are leading the region’s SMR expansion, supported by robust refining, petrochemical, and ammonia production sectors—all of which are heavy consumers of hydrogen.

Governments across Asia-Pacific are implementing supportive policies to encourage hydrogen production and adoption. For instance, China’s national hydrogen strategy includes plans to scale up both green and low-carbon hydrogen, while Japan continues to advance its hydrogen economy through international partnerships and domestic investments in hydrogen infrastructure.

In addition to policy support, Asia-Pacific’s vast natural gas resources and growing interest in carbon-neutral industrial practices make SMR an attractive solution for meeting immediate and long-term hydrogen demand. Industrial hubs in the region are increasingly deploying SMR systems with CCUS integration to decarbonize operations and enhance energy security.

The growth of clean energy sectors such as fuel cell vehicles, renewable energy storage, and hydrogen-powered utilities in Asia-Pacific is also contributing to the expansion of the SMR market. As these applications gain momentum, the region is expected to lead global investments in SMR infrastructure, research, and development over the next decade.

Conclusion

The global steam methane reforming market is on a robust growth trajectory, driven by the expanding role of hydrogen in clean energy transitions, ongoing advancements in reforming technologies, and rising regulatory pressure for low-emission industrial practices. While green hydrogen continues to gain attention, SMR remains the backbone of global hydrogen supply due to its economic efficiency, scalability, and established infrastructure.

With sectors such as petroleum refining, chemicals, and transportation increasingly adopting hydrogen solutions, the importance of SMR as a primary production method will remain substantial. The integration of CCUS and modular reforming systems is helping transform SMR into a more environmentally viable technology, aligning with global sustainability goals.

As regions like Asia-Pacific ramp up hydrogen development and global industries seek secure, cost-effective hydrogen sources, steam methane reforming is poised to play a pivotal role in the evolving hydrogen economy.

Major companies operating in the Global Steam Methane Reforming Market are:

Air Liquide S.A.
Air Products and Chemicals, Inc.
ALLY HI-TECH CO., LTD.
Linde plc
HyGear B.V.
Mahler AGS GmbH
The Messer SE & Co. KGaA,
Plug Power Inc.
Hyster-Yale, Inc.
Hexagon Composites ASA

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“The Global Steam Methane Reforming Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The steam methane reforming (SMR) market offers considerable growth opportunities, driven by the rising global demand for hydrogen across key sectors, including petroleum refining, ammonia production, and the emerging hydrogen fuel industry. As regulatory pressure for cleaner operations increases, refineries are turning to SMR as a cost-effective and efficient solution to produce the hydrogen required for desulfurization and other refining processes.

Moreover, the integration of SMR with carbon capture, utilization, and storage (CCUS) technologies presents a strategic opportunity to mitigate carbon emissions,