Hydrogen Electrolyzer Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Global Hydrogen Electrolyzer Market: Overview
Electrolyzers are used electricity to break water into hydrogen and oxygen. The electrolysis of water occurs through an electrochemical reaction that does not require external components or moving parts. It is very reliable and can produce ultra-pure hydrogen (> 99.999%) in a non-polluting manner when the electrical source is renewable energy.
Hydrogen, used across various industrial applications such as chemicals, electronics, glass, etc., is produced both as a principal product and a by-product. More than 90% of total hydrogen demand across the globe depends upon fossil fuel based resources. Only a small fraction of this demand is met by hydrogen produced by water electrolysis. Different kind of electrolyzers such as alkaline electrolyzer, polymer electrolyte membrane (PEM) electrolyzer, solid oxide electrolyzer etc. are available in the market, which differ in processing methods and operational efficiency. Hydrogen electrolyzer disintegrates water into oxygen and hydrogen gases by passage of electric current. In order to meet optimum volume demand for different applications, these electrolyzers are available in varying capacities with hydrogen generation ranging from small scale production (100 liter/h) to large scale production (1000 liter/h).
The global Hydrogen Electrolyzer market has been segmented based on product, end user, and region. The thorough analysis of the market comes with the main purpose of offering stakeholders with a clear view of the global Hydrogen Electrolyzer market.
Global Hydrogen Electrolyzer Market: Notable Developments
The global Hydrogen Electrolyzer market has come across some major developments over the last few years. One of such developments that have played an important role in influencing the course of the market is mentioned below:
In June 2020, Siemens and Engie collaborated on the setting up of 12MW green hydrogen project in Saillat- sur-Vienne, France. Together they will produce renewable feedstock to produce and store electrolyzed hydrogen. This will be done through conversion of the existing infrastructure thus proving advantageous for lower costs and minimized lead time.
Some prominent market players of the global Hydrogen Electrolyzer market are
Global Hydrogen Electrolyzer Market: Growth Drivers
Demand for Lightweight Aluminum Components to Support Growth of the Market
Hydrogen electrolyzers help in disintegrating water into hydrogen and oxygen gases through electric current. The hydrogen electrolyzer market may observe considerable growth in the forecast period of 2019-2028. The prime growth factor is the potential of hydrogen to achieve the clean energy goals set by various countries. The wide use of hydrogen electrolyzers in sectors like automobile, chemical, energy, pharmaceutical & biotechnology, electronics, glass, metal production, and fabrication may bring good growth opportunities. The hydrogen electrolyzer market can be segmented into Solid Oxide Electrolyzer, Alkaline Water Electrolyzer, and Polymer Electrolyte Membrane (PEM) Electrolyzer based on type.
Hydrogen electrolyzers are playing an important role in shaping the ambitious green economy project that many countries across the globe are striving for. The development of clean energy systems to overcome the environmental crisis faced by the world is the need of the hour. For this, attachment of hydrogen electrolyzers with renewable energy resources such as solar and wind for electricity generation is serving as a boon. Therefore, this factor can serve as a growth generator for the hydrogen electrolyzer market.
The introduction of pressurized systems to eliminate the need for subsequent compression of the hydrogen produced may also help the hydrogen electrolyzer market to climb the growth ladder.
Global Hydrogen Electrolyzer Market: Regional Outlook
North America and Western Europe are expected to hold significant shares in the global hydrogen electrolyzer market. The market in Asia-Pacific is still in its nascent phase in terms of an untapped opportunity it holds, however, over the forecast period, a market in Asia-pacific is expected to create significant growth opportunities owing to increasing use of hydrogen across various end-use industries such as glass, electronics, welding & metal fabrication etc.
The global Hydrogen Electrolyzer market is segmented as:
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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