The Hydrogen Electrolyzer Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Hydrogen Electrolyzer market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Hydrogen Electrolyzer. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The Hydrogen Electrolyzer Market encompasses a range of advanced technologies designed to efficiently utilize electricity in the electrolysis process of water, facilitating the separation of oxygen and hydrogen. Central to these systems are essential components including a cathode, anode, and selectively permeable membrane, collectively demonstrating significant capability in hydrogen gas production through electrolysis. Through the application of electrical currents between the anode and cathode, water molecules undergo decomposition, resulting in the generation of hydrogen and oxygen gases.
As per data from 2021, the global hydrogen electrolyzer market was valued at US$350.6 million USD. Projections indicate a substantial growth trajectory, with anticipated sales expansion forecasted at a Compound Annual Growth Rate (CAGR) of 24.2%. This upward trend in growth is expected to drive the market size to an estimated US$3.7 billion USD by the year 2032.
Explore Lucrative Growth Opportunities: Unlock Valuable Insights through our Comprehensive Market Analysis. Request a Sample Now
https://www.futuremarketinsights.com/reports/sample/rep-gb-1946
The electrolysis process, a cutting-edge technology powered by electricity, efficiently decomposes water into oxygen and hydrogen, utilizing a cathode, an anode, and a membrane. This method, known as electrolysis, leads to the production of hydrogen gas. With the notable decrease in the costs of renewable energy sources, their competitiveness compared to traditional fuels has significantly improved, thereby enhancing their utilization as the primary energy source for hydrogen electrolysis.
In the upcoming market landscape, considerable emphasis will be placed on the research and development of hydrogen fuel cell technology, H-CNG, and innovative mobility solutions, thereby exerting a significant influence on the dynamics of the hydrogen electrolyzer market. Notably, the increasing adoption of fuel cell technology in the automotive sector, particularly in the domain of electric mobility, will serve as a pivotal factor driving the heightened demand for on-site hydrogen production.
“The rising availability of CAPEX subsidies, tax rebates and low electricity costs will strongly intensify the adoption of hydrogen electrolyzers. In addition, hydrogen electrolyzers will provide the missing link between hydrogen and green electricity across various countries as it strives to achieve a de-carbonized environment” says FMI analyst.
Key Takeaways for Hydrogen Electrolyzer Market Study
- PEM electrolyzers are expected to witness a higher demand growth vis-à-vis other electrolyzer variants on back of high purity output and economical features with regards to operations
- Countries in Western Europe and Asia Pacific are key to the growth of hydrogen electrolyzer market, on account of their high growth potential & considerable market size
- Accelerated demand for high purity of hydrogen is boosting the uptake of hydrogen electrolyzer over competitive technologies such as SMR
Despite Prevailing Uncertainties, Experts Eying Green Hydrogen Post Pandemic
The global COVID-19 pandemic has put manufacturing, supply and demand of hydrogen electrolyzer on hold. In the second quarter of 2020, countries such as Italy experienced a 20% reduction in demand for power thus impacting the hydrogen electrolyzer market.
Economies around the world are utilizing this time to invest in green hydrogen to kick start growth. Countries such as Portugal, Netherlands and Australia are already investing rigorously in this technology. This is in alignment with EU’s green deal plan to decarbonize and bring emissions down to zero by 2050.
Hydrogen Electrolyzer Market: Competitive Landscape
The global market players are striving to drive their market revenue at more than 20% on a yearly basis. This is being done by bringing down investment costs through joint collaboration.
For instance, ITM Power and Linde have collaborated to open up a factory at Sheffield, UK to enhance their electrolysis capacity per year by at least 1GW.
Similarly, NEL and Hydrogenics are gearing up for projects that aim to produce 20MW of hydrogen at Denmark and Canada respectively. By scaling up the size of the plants, manufacturers are looking at reducing their overall costs in the production of hydrogen.
Get in Touch with our Sales Team for Further Assistance in Acquiring this Report
https://www.futuremarketinsights.com/checkout/1946
Hydrogen Electrolyzer Market Outlook by Category
By Product Type:
- Proton Exchange Membrane (PEM) Electrolyzer
- Alkaline Electrolyzer
- Solid Oxide Electrolyzer
By Capacity:
- Low (<= 150 kW)
- Medium (150kW–1mW)
- 150-400 kW
- 400-750kW
- 750-1mW
- High (> 1mW)
- 1 – 10 mW
- 10 – 20 mW
- Above 20 mW
By Outlet Pressure:
- Low (<= 10 Bar)
- Medium (150 Bar–40 Bar)
- High (> 40 Bar)
By End Use:
- Ammonia
- Methanol
- Refining/ Hydrocarbon
- Electronics
- Energy
- Power to Gas
- Transport
- Metal Production & Fabrication
- Pharma & Biotech
- Food & Beverages
- Glass Industry
- Other Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us :
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com