Decarbonization and Electrification Set to Accelerate Hydrogen Electrolyzer Market Growth, as Market Players Focus on Sustainable Hydrogen Production

JUMEIRAH LAKES TOWERS, DUBAI, UNITED ARAB EMIRATES, December 13, 2021 /EINPresswire.com/ -- Future Market Insights, an ESOMAR-certified market research provider, opines that the long term outlook for hydrogen electrolyzer market will remain optimistic with growth pegged at 10% through 2030.

With costs of renewables substantially dropping, making them more competitive with conventional fuels, their use as feedstock for hydrogen electrolysis will boost market growth subsequently.

Research for hydrogen fuel cell technology, H-CNG and mobility solutions will play a vital role in the market dynamics of hydrogen electrolyzers. With the growing popularity of fuel cell technology in automotive, notably electric mobility, demand for on-site hydrogen production will proliferate.

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“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

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Hydrogen Electrolyzer Market Taxonomy
The global Hydrogen Electrolyzer market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Product Type

Proton Exchange Membrane (PEM) Electrolyzer
Alkaline Electrolyzer
Solid Oxide Electrolyzer

By Capacity

Low (<500 kW)
Medium (500 kW to 2 MW
High (Above 2 MW)

By Output Pressure

Low (≤10 bar)
Medium
(10 bar – 40 bar)
High (≥ 40 bar)

By Application

Ammonia
Methanol
Refinery Industry
Electronics
Energy
Power to Gas
Transport
Metal Production & Fabrication
Pharma & Biotech
Food & Beverages
Glass Industry
Others

Find More Valuable Insights on Hydrogen Electrolyzer Market:

FMI in its new market research study, offers an unbiased analysis of the hydrogen electrolyzer market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report offers complete analysis on global hydrogen electrolyzer market through four different categories – product type, capacity, outer pressure, end user and region. The global hydrogen electrolyzer market study provides information of pricing by different application analysis, product life cycle, capacity assessment, key market trends and technologies which are being implemented in the deployment or installation of the hydrogen electrolyzer and product adoption in varied end use industries.

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About FMI – Industrial Automation

The Industrial Automation division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

ankush Nikam
FMI
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