수증기 메탄 개질(SMR) 시장 : 세계 산업 규모, 점유율, 동향, 기회, 예측 - 원료별, 변환 기술별, 용도별, 지역별, 경쟁(2021-2031년)

The Global Steam Methane Reforming Market is projected to expand from USD 95.11 Billion in 2025 to USD 129.44 Billion by 2031, demonstrating a Compound Annual Growth Rate (CAGR) of 5.27%. This chemical process involves methane from natural gas reacting with high-temperature steam in the presence of a catalyst to yield hydrogen, carbon monoxide, and a minor amount of carbon dioxide. The primary factors fueling this market growth are the substantial demand for hydrogen as a crucial feedstock in both ammonia synthesis and petroleum refining, alongside the economic advantages of SMR over electrolysis and the well-established global natural gas infrastructure, which collectively reinforce its dominance in industrial hydrogen production. There is a significant environmental challenge, however, as the process inherently produces considerable greenhouse gas emissions, necessitating the costly integration of carbon capture technologies to meet increasingly stringent regulations. This shift towards lower-carbon operations presents significant financial and technical hurdles for those involved. Illustratively, according to the International Energy Agency, 2025 saw over 200 committed investments finalized for low-emissions hydrogen production projects globally, underscoring the urgent and substantial capital mobilization required to align traditional SMR capabilities with evolving decarbonization mandates.

Market Driver

The foremost impetus driving the Global Steam Methane Reforming Market is the extensive need for hydrogen in petroleum refinery desulfurization and ammonia production. As environmental mandates demand reduced sulfur content in fuels, refiners heavily depend on SMR-produced hydrogen to efficiently process heavy crude oils. This reliance is bolstered by the technology's scalability and current cost benefits compared to electrolytic alternatives, maintaining its status as the standard for large-scale industrial feedstock supply. According to the International Energy Agency's 'Global Hydrogen Review 2024' (October 2024), global hydrogen demand hit a record 97 million tonnes in 2023, predominantly met by unabated fossil fuel-based production methods, ensuring ongoing operational activity for SMR facilities worldwide. Concurrently, the market is propelled by the strategic integration of carbon capture, utilization, and storage (CCUS) technologies to enable blue hydrogen production. This advancement allows stakeholders to leverage abundant natural gas feedstocks while mitigating the high carbon intensity typically associated with conventional reforming. The Global CCS Institute's 'Global Status of CCS 2024' report (October 2024) indicates that the CO2 capture capacity of facilities in the project development pipeline has surged to 416 million tonnes per annum, reflecting a rapid increase in retrofitting conventional reformers. Furthermore, broader financial backing is accelerating this infrastructural transformation; the Hydrogen Council reported in 2024 that the pipeline of announced hydrogen projects represents a total investment value of USD 680 billion, signaling robust long-term capital commitment to the sector's evolution.

Market Challenge

The principal hurdle impeding the expansion of the Global Steam Methane Reforming Market is the significant environmental impact of the process, which compels the industry to contend with high decarbonization costs. With governments enforcing stricter emissions regulations, conventional reforming operations face immense pressure to incorporate Carbon Capture, Utilization, and Storage (CCUS) technologies. This necessity fundamentally undermines SMR's historical cost advantage, as implementing capture systems requires substantial capital expenditure and increases ongoing operational complexities. Consequently, the financial viability of both new and existing fossil-based hydrogen projects is increasingly being scrutinized, leading to hesitation among investors and developers who are wary of long-term regulatory risks and the potential for asset stranding. This uncertainty has resulted in a discernible deceleration in market growth, evidenced by a contraction in the project development pipeline. The inability to secure consistent policy support and the escalating costs of low-carbon compliance are directly contributing to project cancellations. As reported by the Hydrogen Council in 2025, approximately 52 clean hydrogen projects were publicly terminated over an 18-month period, with 38% of these cancellations specifically attributed to policy and market uncertainty. This trend of project attrition distinctly illustrates how the technical and economic difficulties of emissions abatement are actively constraining the growth of the steam methane reforming sector.

Market Trends

The market is undergoing a decisive structural transition from conventional steam methane reforming towards Autothermal Reforming (ATR) and hybrid architectures, primarily aimed at overcoming the carbon capture limitations of standard units. Unlike traditional reformers that produce diluted flue gas, which is energy-intensive to decarbonize, ATR technology inherently generates high-pressure, concentrated CO2 streams, positioning it as the preferred design for new, large-scale low-carbon hydrogen facilities. This architectural evolution is rapidly manifesting in project pipelines where high capture rates are mandatory. According to the International Energy Agency's 'Global Hydrogen Review 2025' (September 2025), the capacity of low-emissions hydrogen production projects that have reached Final Investment Decision is set to reach 4.2 million tonnes per annum by 2030, a growth largely driven by these advanced technologies. Simultaneously, the industry is increasingly adopting renewable biomethane as a direct substitute for fossil natural gas, enabling the production of carbon-neutral "bio-hydrogen" within existing infrastructure. This trend allows operators to circumvent the high capital costs associated with carbon capture systems by utilizing a biogenic feedstock that naturally offsets emissions, thereby decoupling hydrogen production from fossil fuel price volatility. The scalability of this pathway is being secured by a surging global supply of upgraded biogas suitable for grid injection. The International Energy Agency's 'Biogases - Renewables 2025' report projects a 22% expansion in global production of combined biogas and biomethane between 2025 and 2030, providing a crucial feedstock foundation for this green reforming strategy.

Key Market Players

• 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

Report Scope

In this report, the Global Steam Methane Reforming Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Steam Methane Reforming Market, By Feedstock

• Natural Gas
• Liquefied Natural Gas
• Methanol
• Coal

Steam Methane Reforming Market, By Conversion Technology

• Steam Reforming
• Autothermal Reforming
• Partial Oxidation
• Catalytic Partial Oxidation

Steam Methane Reforming Market, By Application

• Petroleum Refining
• Chemicals
• Power Generation
• Transportation
• Industry Energy

Steam Methane Reforming Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Steam Methane Reforming Market.

Available Customizations:

Global Steam Methane Reforming Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Steam Methane Reforming Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Feedstock (Natural Gas, Liquefied Natural Gas, Methanol, Coal)
  • 5.2.2. By Conversion Technology (Steam Reforming, Autothermal Reforming, Partial Oxidation, Catalytic Partial Oxidation)
  • 5.2.3. By Application (Petroleum Refining, Chemicals, Power Generation, Transportation, Industry Energy)
  • 5.2.4. By Region
  • 5.2.5. By Company (2025)
• 5.3. Market Map

6. North America Steam Methane Reforming Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Feedstock
  • 6.2.2. By Conversion Technology
  • 6.2.3. By Application
  • 6.2.4. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Steam Methane Reforming Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Feedstock
      • 6.3.1.2.2. By Conversion Technology
      • 6.3.1.2.3. By Application
  • 6.3.2. Canada Steam Methane Reforming Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Feedstock
      • 6.3.2.2.2. By Conversion Technology
      • 6.3.2.2.3. By Application
  • 6.3.3. Mexico Steam Methane Reforming Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Feedstock
      • 6.3.3.2.2. By Conversion Technology
      • 6.3.3.2.3. By Application

7. Europe Steam Methane Reforming Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Feedstock
  • 7.2.2. By Conversion Technology
  • 7.2.3. By Application
  • 7.2.4. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Steam Methane Reforming Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Feedstock
      • 7.3.1.2.2. By Conversion Technology
      • 7.3.1.2.3. By Application
  • 7.3.2. France Steam Methane Reforming Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Feedstock
      • 7.3.2.2.2. By Conversion Technology
      • 7.3.2.2.3. By Application
  • 7.3.3. United Kingdom Steam Methane Reforming Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Feedstock
      • 7.3.3.2.2. By Conversion Technology
      • 7.3.3.2.3. By Application
  • 7.3.4. Italy Steam Methane Reforming Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Feedstock
      • 7.3.4.2.2. By Conversion Technology
      • 7.3.4.2.3. By Application
  • 7.3.5. Spain Steam Methane Reforming Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Feedstock
      • 7.3.5.2.2. By Conversion Technology
      • 7.3.5.2.3. By Application

8. Asia Pacific Steam Methane Reforming Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Feedstock
  • 8.2.2. By Conversion Technology
  • 8.2.3. By Application
  • 8.2.4. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Steam Methane Reforming Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Feedstock
      • 8.3.1.2.2. By Conversion Technology
      • 8.3.1.2.3. By Application
  • 8.3.2. India Steam Methane Reforming Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Feedstock
      • 8.3.2.2.2. By Conversion Technology
      • 8.3.2.2.3. By Application
  • 8.3.3. Japan Steam Methane Reforming Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Feedstock
      • 8.3.3.2.2. By Conversion Technology
      • 8.3.3.2.3. By Application
  • 8.3.4. South Korea Steam Methane Reforming Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Feedstock
      • 8.3.4.2.2. By Conversion Technology
      • 8.3.4.2.3. By Application
  • 8.3.5. Australia Steam Methane Reforming Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Feedstock
      • 8.3.5.2.2. By Conversion Technology
      • 8.3.5.2.3. By Application

9. Middle East & Africa Steam Methane Reforming Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Feedstock
  • 9.2.2. By Conversion Technology
  • 9.2.3. By Application
  • 9.2.4. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Steam Methane Reforming Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Feedstock
      • 9.3.1.2.2. By Conversion Technology
      • 9.3.1.2.3. By Application
  • 9.3.2. UAE Steam Methane Reforming Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Feedstock
      • 9.3.2.2.2. By Conversion Technology
      • 9.3.2.2.3. By Application
  • 9.3.3. South Africa Steam Methane Reforming Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Feedstock
      • 9.3.3.2.2. By Conversion Technology
      • 9.3.3.2.3. By Application

10. South America Steam Methane Reforming Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Feedstock
  • 10.2.2. By Conversion Technology
  • 10.2.3. By Application
  • 10.2.4. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Steam Methane Reforming Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Feedstock
      • 10.3.1.2.2. By Conversion Technology
      • 10.3.1.2.3. By Application
  • 10.3.2. Colombia Steam Methane Reforming Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Feedstock
      • 10.3.2.2.2. By Conversion Technology
      • 10.3.2.2.3. By Application
  • 10.3.3. Argentina Steam Methane Reforming Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Feedstock
      • 10.3.3.2.2. By Conversion Technology
      • 10.3.3.2.3. By Application

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global Steam Methane Reforming Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. Air Liquide S.A.
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. Air Products and Chemicals, Inc.
• 15.3. ALLY HI-TECH CO., LTD.
• 15.4. Linde plc
• 15.5. HyGear B.V.
• 15.6. Mahler AGS GmbH
• 15.7. The Messer SE & Co. KGaA,
• 15.8. Plug Power Inc.
• 15.9. Hyster-Yale, Inc.
• 15.10. Hexagon Composites ASA

16. Strategic Recommendations

17. About Us & Disclaimer