The USA hydrogen electrolyzer market is poised for remarkable growth, with projections indicating a robust CAGR of 23.8% from 2023 to 2033. By 2033, it is expected to attain a valuation of approximately US$ 790.8 million, marking substantial expansion from the anticipated valuation of around US$ 93.2 million in 2023.
Notably, the demand for polymer electrolyte membrane (PEM) electrolyzers is anticipated to play a pivotal role, contributing to over 45% of the market value share by 2023. This significant market share is attributed to the sustained demand for supplementing the natural gas grid to enhance efficiency and facilitate vehicle fueling.
Hydrogen-producing electrolyzers serve as pivotal devices, employing electrolysis to produce hydrogen through the separation of oxygen and hydrogen molecules, driven by electrical energy. As the market continues to evolve, these electrolyzers are expected to play a crucial role in meeting the growing demand for hydrogen across various sectors.
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Growth Factors
The surge in demand for hydrogen electrolyzers in the USA can be attributed to several factors, including legislative initiatives aimed at reducing carbon emissions and increasing financial backing for renewable energy initiatives. The market stands to witness significant growth with the emergence of new and more efficient electrolyzer technologies.
Government-led endeavors to mitigate carbon emissions play a pivotal role in propelling sales of hydrogen electrolyzers. In the USA, legislative measures and policies are actively promoting the adoption of sustainable energy alternatives, particularly hydrogen fuel.
For instance, the USA General Services Administration (GSA) has committed to transitioning to exclusively renewable energy sources for its federal real estate portfolio by the year 2025.
Moreover, the hydrogen electrolyzer industry is expected to receive a boost from substantial adaptations in manufacturing processes triggered by the pandemic in 2020. As businesses pivot towards cleaner, more reliable, and environmentally friendly energy sources, strategic alignment becomes imperative.
Market Trends
The utilization of hydrogen in refinery hydro-processing has witnessed a notable uptick in recent years, along with a growing presence in various secondary end-user sectors, driving demand in the USA.
Specifically, the USA has experienced a significant surge in the demand for hydrogen, particularly in the production of ultra-low sulfur diesel fuel.
Furthermore, the escalating demand for environmentally sustainable energy sources has propelled the market expansion of hydrogen electrolyzers in the USA. This surge is fueled by the increasing preference for cleaner energy alternatives.
Additionally, there is a notable trend towards on-site hydrogen generation among diverse end users, owing to several compelling environmental and economic advantages. These benefits include reduced transportation costs and emissions, as well as mitigated risks associated with gas handling and storage inadequacies.
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Key Companies
- ABB Ltd.
- Bloom Energy
- Nel Hydrogen
- Air Liquide
- Plug Power Inc.
- Giner Inc.
- Ballard Power Systems
- ITM Power Plc
- Siemens AG
- Tianjin Mainland Hydrogen Equipment Co. Ltd
- Gaztransport & Technigaz
- Pure Energy Centre
- Idroenergy
- Erredue SpA
- Swiss Hydrogen SA
- Shandong Saikesaisi Hydrogen Energy Co., Ltd.
- Next Hydrogen