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:
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