Steam Methane Reforming Market
Report ID: SQMIG15A2627
Report ID: SQMIG15A2627
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Report ID:
SQMIG15A2627 |
Region:
Global |
Published Date: January, 2026
Pages:
183
|Tables:
89
|Figures:
70
Global Steam Methane Reforming Market size was valued at USD 89.13 Billion in 2024 and is poised to grow from USD 94.12 Billion in 2025 to USD 145.54 Billion by 2033, growing at a CAGR of 5.6% during the forecast period (2026–2033).
The global steam methane reforming market growth is mostly due to the high and steady demand for hydrogen in many important industries. SMR is also the oldest and cheapest way to make a lot of hydrogen, and it is very important for hydrocracking and desulfurization in petroleum refining, as well as for making ammonia (for fertilizers) and methanol in the chemical industry. The ongoing need for these basic industrial goods means that there will always be a steady demand for SMR. This role in the supply chain for industrial gas is what keeps the market going and growing.
However, the global steam methane reforming market analysis also looks at environmental and competitive factors. The SMR process releases a lot of CO2s and is very carbon-intensive. Because of this, it goes against the global decarbonization agenda and bad environmental laws. Because of this, there is more interest in and money going into other ways to make hydrogen. Electrolysis from renewable energy (also known as "green hydrogen") is getting the most attention. The rise of low-carbon processes is a major long-term threat to traditional SMR, and it could also limit future growth and investment in the market.
How Are Artificial Intelligence and the Internet of Things Reshaping the Steam Methane Reforming Market?
The global steam methane reforming market trends are gradually but meaningfully altered with Artificial Intelligence (AI) and the Internet of Things (IoT) coming together. IoT sensors have been placed throughout SMR plants in order to monitor real-time critical parameters such as temperature, pressure, flow rate and catalyst performance, and now, in seconds, AI lenses the data stream information from IoT sensors to optimize the reforming processes and predict equipment failure while also improving energy use during reforming. The combination of IoT and AI allows for precise and continuous control, lower operating costs, and improved safety of these complex industrial plants.
In 2024 a significant industrial gas producer implemented an AI system capable of changing operating conditions in real-time with predictive models, that is, AI continuously and autonomously optimizes SMR processes at the same time as mining IoT data. The AI is able to adjust the steam-to-carbon ratio and reactor case temperature and it has been shown to increase hydrogen production and decrease natural gas consumption, improving the overall economic, and environmental results of the SMR process.
Market snapshot - 2026-2033
Global Market Size
USD 83.62 Billion
Largest Segment
Traditional SMR
Fastest Growth
SMR with Carbon Capture, Utilization, and Storage
Growth Rate
4.47% CAGR
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Global Steam Methane Reforming Market is segmented by Feedstock, Conversion Technology, End Use Industry, Scale of Operation and region. Based on Feedstock, the market is segmented into Natural Gas, Liquefied Natural Gas, Methanol and Coal. Based on Conversion Technology, the market is segmented into Steam Reforming, Autothermal Reforming, Partial Oxidation and Catalytic Partial Oxidation. Based on End Use Industry, the market is segmented into Petrochemicals, Fertilizers, Power Generation and Hydrogen Production. Based on Scale of Operation, the market is segmented into Large-Scale Plants and Small-Scale Plants. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
The global steam methane reforming market size is primarily driven by traditional steam methane reforming. It is the only technology currently used to produce hydrogen at a large scale, it is the most mature, widely adopted, and commercially viable option today. Because of its existing infrastructure and reputation, Traditional Steam Methane Reforming is the technology of choice for most industrial processes, and is ultimately the foundation of the global hydrogen production market.
The SMR with Carbon Capture, Utilization, and Storage (CCUS) segment is the fastest growing segment in the global steam methane reforming industry. This acceleration is primarily being driven by significant pressure to decarbonize industrial processes. SMR with CCUS captures the CO2 emitted from SMR during hydrogen production to produce "blue hydrogen" and with it provides a means for producing low carbon hydrogen and achieving climate goals. Additionally, SMR with CCUS is attracting hefty government tax credits, incentives, and investment.
The Petroleum Refining segment is currently dominating the global steam methane reforming market share. The petroleum refining industry is the largest consumer of hydrogen, which is necessary for processes, such as hydrocracking (consuming hydrogen to create lighter, more valuable fuels) and hydrotreating (using hydrogen to remove sulfur and other impurities). The tremendous and constant demand for hydrogen, resulting from the various refining applications, makes refining the primary end-use industry for SMR technology.
The Chemicals segment is the fastest-growing segment and represents a key trend driving the global steam methane reforming sector, primarily for ammonia and methanol production. Ammonia is a key component in fertilizers that is in high demand, as food security is becoming more important around the world. Methanol is also an important chemical feedstock. The commercialised-scale production of both chemicals depends on significant amounts of hydrogen sourced from SMR technology.
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North America is the leading area in the global steam methane reforming regional outlook due to the robust petroleum refining and chemical manufacturing base in the region, particularly along the U.S. Gulf Coast. Petrochemicals and refinery sectors have a significant, and established, demand for hydrogen combined with abundant and cheapest natural gas feedstock, resulting in North America becoming the global leader in SMR operations. The well-established regulatory framework, and existing pipeline system, also cements the U.S. and North America as a leading market for SMR.
The United States is the leader in the North American market because it has so many refineries and chemical plants. There has been a lot of talk lately about government incentives for new SMR projects that use carbon capture technologies. This is because of climate policies like the Inflation Reduction Act. This has put a lot of pressure on companies that are working on "blue hydrogen" projects to decarbonize existing industrial hydrogen production and make the U.S. a leader in low-carbon fuels.
Canada is a growing and vibrant oil and gas market, especially in the western provinces, given the large natural gas resource base and petrochemical industry. A trend to watch in Canada is the development of large-scale "blue hydrogen" export facilities. Specifically, Canadian companies are utilizing their natural gas resources and carbon storage to build SMR with CCUS facilities to produce low-carbon ammonia and hydrogen with the intention of exporting it to markets in Asia and Europe.
The Asia Pacific region is able to grow the fastest in the global steam methane reforming regional forecast. Its growth is driven by rapid industrialization, rising energy needs, and growth of the chemical and refining sectors across countries in the region. As they require more foundational industrial products like ammonia-based fertilizers and refined fuels, the demand for hydrogen produced from SMR technology becomes substantial and increasingly urgent.
Japan is a dominant force in the Asia Pacific steam methane reforming market. It has a large industrial base and a strong national strategy to build a hydrogen economy. One important new development is that people are starting to focus on building low-carbon hydrogen supply chains. Japanese companies have recently put money into and worked together on blue hydrogen projects abroad. This means hydrogen is made by SMR with CCUS and then sent to Japan or Japan, usually in ammonia form.
South Korea is growing quickly in the Asia Pacific steam methane reforming market mostly because of its big refining and petrochemical industries and the government's strong support for hydrogen as a future energy source. One important trend is the shift toward making things at home while also making sure that supplies from other countries are available. Coast and other port cities are building "hydrogen hubs" with SMR and CCUS, as well as imported hydrogen, to power their industries and make electricity.
The global steam methane reforming market revenue in Europe exhibits a mature industrial base with a large amount of existing SMR capacity. However, the market is undergoing major reconstruction due to the European Union pursuing aggressive decarbonization policies and climate goals. The future of SMR in Europe is essentially tied to its integration with carbon capture technology to produce low-carbon blue hydrogen as unabated, conventional SMR is facing more regulatory appendages and carbon pricing.
Germany is the leader in the European steam methane reforming market. The two major drivers of the market are its large chemical industry and a national strategy to dominate hydrogen technologies. One of the more notable trends being pursued is the planned development of hydrogen pipeline networks that could connect large industrial clusters. Those network(s) will be designed to transport low-carbon hydrogen to large industrial end-users and those hydrogen pipelines would transport blue hydrogen produced from SMR and CCUS from production sites to multiple end-users to support the decarbonization of its industrial heartland.
The United Kingdom is seen as a rapidly evolving SMR and CCUS market, thanks to strong government policy and its ideal offshore carbon storage capability in the North Sea. A further example of UK SMR with CCUS advancement is the ongoing development of multiple industrial "hydrogen cl users" including Humber and Teesside. The hubs are focused on creating blue hydrogen, large-scale production plants to supply hydrogen to local industries and power generation facilities.
France market is focused on decarbonize its large and established industrial and refining sectors. A trend within France is evaluating SMR with CCUS as a complementary pathway alongside its strong emphasis on nuclear powered electrolysis (pink hydrogen). French industrial players view blue hydrogen projects as a pragmatic opportunity to find near-term emissions reductions in hard to abate sectors while green hydrogen solutions are scaled up over a longer time frame.
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Massive Demand from Refining and Chemical Industries
Cost-Effectiveness and Mature Technology
High Carbon Dioxide (CO2) Emissions
Competition from Green Hydrogen Technologies
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The global steam methane reforming industry trends demonstrate a market landscape largely occupied by industrial gas companies and engineering, procurement, and construction (EPC) firms like Linde, Air Liquide and Air Products, who have built their respective leadership positions in part based on their global networks of SMR plants, long-term supply agreements with major industrial users of hydrogen and deep operational capabilities. Their strategy is reliability, efficiency, and scale. There are EPC firms like Technip Energies and Topsoe who contend to offer their value proposition based on technology licensing, catalyst performance, and design and construction of highly efficient SMR plants.
The competitive landscape is changing and new companies and partnerships are being established because of the global emphasis in decarbonization. These organizations revolve around developing capabilities to integrate steam methane reforming with carbon capture, utilization, and storage (CCUS) capabilities, and low-carbon hydrogen solutions such as "blue hydrogen." Some of these organizations are not traditional start-ups, rather most of these organizations are partnerships between traditional or alternative SMR technology providers, energy companies, and carbon capture organizations. Their strategy is to provide a low-carbon hydrogen solution that provides a pathway between the current fossil-fuel driven economy to a future green-hydrogen economy.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global steam methane reforming (SMR) market is a core aspect of industrial hydrogen production. It is driven by the considerable and continuous demand from the refining and chemical industry. The underpinning principle in the market is the opposition between existing viability against an urgent and global drive to decarbonize. The future will come down to how many carbon capture technologies are employed to produce "blue hydrogen", a stepping-stone to cleaner energy.
Regional markets, led by North America, show the dual focus on carbon capture, utilization and storage (CCUS) and infrastructure productivity. Although it is being pressured to decarbonize, the constant reliability of SMR means it can continue to evolve within the hydrogen economy.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 89.13 Billion |
| Market size value in 2033 | USD 145.54 Billion |
| Growth Rate | 5.6% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Steam Methane Reforming Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Steam Methane Reforming Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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