Electrolyzer Market Analysis

Electrolyzer Market Qualitative Insights on Application & Outlook by Size, Share, and Future Growth by 2027

PORTLAND, OREGON, UNITED STATES, November 22, 2023 /EINPresswire.com/ -- The electrolyzer market is driven by increased demand for hydrogen from several industries such as transportation, power generation, and chemical processing. Moreover, favorable government policies that encourage a reduction in carbon footprint also drive market growth. However, several restraints for the market are limited technological advancements and constraints in equipment supply. The global electrolyzers market size was valued at $0.2 billion in 2019 and is anticipated to generate $0.9 billion by 2027. The market is projected to experience growth at a CAGR of 24.6% from 2020 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞: https://www.alliedmarketresearch.com/request-sample/10974

In electrolyzer, water is split into hydrogen and oxygen by using electricity. There are different processes used for electrolysis such as alkaline method, PEM, and solid oxide electrolysis method. The hydrogen obtained from the electrolysis is 99.99% pure and stored in either gas form or liquid form. It is used in making fuel cells that are used in electric vehicles.

The market for electrolyzers is driven by increased demand for hydrogen in electric vehicles. Moreover, demand for on-site electrolyzer installation from the industrial sector owing to decarbonization also acts as a driving factor for electrolyzer market growth. However, limited technological advancements, delayed permits, and equipment supply constraints act as restraints for market growth. Meanwhile, favorable policies from governments that are encouraging the use of electric vehicles and technological advancements can offer lucrative opportunities for industry growth in the near future.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/10974

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Electrolyzer industry's key market players adopt various strategies such as product launches, product development, collaboration, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐥𝐲𝐳𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

• Plug Power
• Air Liquide
• TOSHIBA CORPORATION
• ITM Power
• CUMMINS, INC.
• NEL ASA
• SIEMENS ENERGY Global GmbH & Co. KG.
• AG Next Hydrogen
• McPhy Energy
• Idroenergy

The electrolyzer market is segmented on the basis of product, capacity, application, and region. Depending on the product, the market is segmented into alkaline electrolyzer, PEM electrolyzer, and solid oxide electrolyzer. Alkaline electrolyzer dominated the market share, whereas, PEM electrolyzer is expected to grow at a higher CAGR during the forecast period. By capacity, the market is bifurcated into less than 500 kW, 500 kW to 2 MW, and above 2 MW. The 500 kW to 2 MW capacity electrolyzer dominated the market share in 2019, while the above 2 MW capacity electrolyzer is expected to grow at a rapid pace.

Based on application, the market is divided into power generation, transportation, industry energy, industry feedstock, building heat & power, and others. The power generation segment dominated the market share but transportation application is projected to grow at a higher CAGR. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). Europe is leading the market for electrolyzer; however, Asia-Pacific is expected to witness the highest growth during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/10974

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲:

- The global electrolyzers market size is provided in terms of revenue.
- Asia-Pacific is projected to grow at the highest CAGR of approximately 25.1%, in terms of revenue, during the forecast period.
- By product, the alkaline electrolyzer segment is anticipated to grow with a CAGR of 24.6%, in terms of revenue, during the forecast period.
- The Europe and Asia-Pacific dominated the electrolyzers market share by over 38.0% and 32.0% in 2019.
- A comprehensive analysis of the factors that drive and restrain the electrolyzers market growth is provided.
- The qualitative data in this report aims at the market trends, dynamics, and developments in the electrolyzers industry.
- The electrolyzers market forecast and estimations are based on factors impacting the market growth.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝟏. 𝐂𝐥𝐞𝐚𝐧 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2023/04/10/2643733/0/en/Clean-Hydrogen-Market-to-Reach-18-3-Billion-Globally-by-2032-at-14-8-CAGR-Allied-Market-Research.html

𝟐. 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.co.uk/news-releases/hydrogen-generation-market-to-reach-262-0-bn-globally-by-2031-at-6-8-cagr-allied-market-research-301650749.html

𝟑. 𝐁𝐥𝐮𝐞 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/09/07/2511107/0/en/Global-Blue-Hydrogen-Market-Is-Expected-to-Reach-3-5-Billion-by-2031-Says-AMR.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Analytics LLP
+ +1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.