According to the latest report by IMARC Group, titled “Electrolyzer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global electrolyzer market reached a value of US$ 421 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 732 Million by 2027, exhibiting at a CAGR of 9.45% during 2022-2027.
An electrolyzer relies on electricity to produce carbon-free hydrogen through electrolysis. It includes cathodes, anodes, membranes, pumps, vents, storage tanks, separators, and power supplies. It is reliable, cost-effective, and generates electricity with zero emissions. At present, it is available in a wide range of capacities and functions, such as alkaline, proton exchange membrane (PEM), and solid oxide, across the globe.
Electrolyzer Market Trends:
Presently, the growing global population and increasing power demand for utilities represent one the primary factors positively influencing the market. In addition, governments of various countries are focusing on adopting clean power energy generation technologies. They are also introducing favorable policies, such as pollution tax, innovation subsidy, and environmental protection publicity and guidance programs, to promote the usage of low-carbon technologies, which is offering lucrative growth opportunities to industry investors and market players. Furthermore, the increasing adoption of electrolyzers used in the production of green chemicals, such as methanol, fertilizers (ammonia), and jet fuel is strengthening the growth of the market. Besides this, the escalating demand for hydrogen in fuel cell-based electric vehicles (EVs), such as trains, trucks, and buses, is propelling the market growth worldwide. Furthermore, the expansion of the e-commerce sector and widespread adoption of EVs by logistics companies for delivery services is driving the market.
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Electrolyzer Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Air Liquide S.A.
- Air Products and Chemicals Inc.
- Asahi Kasei Corporation
- Cummins Inc.
- ITM Power plc
- Linde plc
- McPhy Energy S.A.
- Nel ASA
- Plug Power Inc.
- Siemens AG
- Titanium Tantalum Products Limited
- Toshiba Corporation.
The report has segmented the market on the basis on region, product, capacity, application.
Breakup by Product:
- Alkaline Electrolyzer
- PEM Electrolyzer
- Solid Oxide Electrolyzer
Breakup by Capacity:
- Less than 500 kW
- 500 kW to 2 MW
- Above 2 MW
Breakup by Application:
- Power Generation
- Transportation
- Industry Energy
- Industry Feedstock
- Building Heat and Power
- Others
Breakup by Region:
- North America:( United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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