Electrolyzer Market Size, Trends, Growth, Report 2022-2027

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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.

Industry Definition and Application:

An electrolyzer is a device that uses an electrical current to split water molecules into hydrogen and oxygen gases through electrolysis. It comprises an electrolyte solution, a positive electrode (anode), and a negative electrode (cathode), separated by a membrane or an electrolyte solution. It is widely employed in producing hydrogen gas, which is further used as fuel for various applications, including fuel cells, energy storage, and transportation. At present, an electrolyzer is available in different sizes and capacities.

Report Metric

Historical: 2016-2021

Base Year: 2021

Forecast Year: 2022-2027

Electrolyzer Market Trends:

The growing global population and the escalating demand for electricity represent one of the primary factors positively influencing the market. In addition, governments of various countries are introducing favorable policies, such as pollution tax, innovation subsidies, and environmental protection publicity and guidance programs, to promote the usage of low-carbon technologies. This, in confluence with the rising adoption of clean power energy generation technologies, is creating a positive market outlook. Apart from this, the increasing adoption of hydrogen in fuel cell-based electric vehicles (EVs) and the widespread adoption of EVs by logistic companies for delivery services are propelling the market growth. Furthermore, the high cost of electricity and increasing adoption of hydrogen and industrial feedstock is stimulating the growth of 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

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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

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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