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.
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:
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
- Industry Energy
- Industry Feedstock
- Building Heat and Power
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
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