Increasing demand for green energy, stringent regulations associated with high carbon footprint, and surging investment to develop the industrial sector globally are a few key factors expected to propel growth in the hydrogen electrolyzer market.
NEWARK, Del., July 1, 2022 /PRNewswire/ -- The global hydrogen electrolyzer market is expected to grow at a CAGR of 24.2% over the forecast period of 2022-2032. The market valuation is set to reach US$ 3.7 Bn by the end of 2032. Rising demand for hydrogen gas across various end-use sectors is estimated to drive growth in the hydrogen electrolyzer market during the forthcoming years.
Development of new technologies to reduce the operational cost of hydrogen electrolyzers is anticipated to fuel the market. Moreover, rising awareness about the harmful effects of carbon emissions worldwide are set to create new growth opportunities in the market.
Higher adoption of renewable energy sources and increasing onsite hydrogen production are set to boost the demand for hydrogen electrolyzers in the upcoming decade. Apart from that, surging demand for carbon-free steel in various industries such as automotive is projected to create new growth opportunities in the steel manufacturing sector.
Request a Sample PDF Of The Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-1946
Increasing initiatives taken by several automotive manufacturers to reduce carbon emission from vehicles is another vital factor that would propel sales of hydrogen electrolyzers in future. Surging development of green energy worldwide is also expected to drive the market.
Key Takeaways: Hydrogen Electrolyzer Market
- By product type, sales of PEM electrolyzers are expected to grow at a CAGR of 25.2% during the forecast period.
- By outlet pressure, the low (<= 10 bar) segment is anticipated to dominate the market and is expected to account for about 2/3rdof the share.
- By end use, the transportation segment is projected to lead the hydrogen electrolyzer market and create an absolute $ opportunity worth US$905.5Mn in 2032.
- In terms of region, the Europe hydrogen electrolyzers market is estimated to exhibit a CAGR of 24.1%.
"Increasing demand for hydrogen fuel due to rising investments in novel programs for reducing carbon emissions globally is set to create new growth opportunities for companies in the hydrogen electrolyzers market," says a FMI analyst.
Competitive Landscape: Hydrogen Electrolyzer Market
Leading Companies Profiled inHydrogen Electrolyzer Market are
- Nel Hydrogen
- Siemens AG
- McPhy Energy
- ITM Power Plc
- Tianjin Mainland Hydrogen Equipment Co. Ltd
- Gaztransport & Technigaz
- Giner Inc.
- GreenHydrogen Systems
- iGas Energy GmbH
- Beijing CEI Technology Co., Ltd.
- Next Hydrogen
- Air Liquide
- Ballard Power Systems
- Enapter
- Plug Power Inc.
- Bloom Energy
- others
Manufacturers are strategically collaborating with technology companies for co-developing new products and gaining a competitive edge. A few others are looking forward to helping the oil and gas industry by providing technologically advanced products.
For critical insights, request for PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-1946
Hydrogen Electrolyzer Market Outlook by
CategoryBy Product Type:
- Proton Exchange Membrane (PEM) Electrolyzer
- Alkaline Electrolyzer
- Solid Oxide Electrolyzer
By Capacity:
- Low (<= 150 kW)
- Medium (150kW-1mW)
- 150-400 kW
- 400-750kW
- 750-1mW
- High (> 1mW)
- 1 - 10 mW
- 10 - 20 mW
- Above 20 mW
By Outlet Pressure:
- Low (<= 10 Bar)
- Medium (150 Bar-40 Bar)
- High (> 40 Bar)
By End Use:
- Ammonia
- Methanol
- Refining/ Hydrocarbon
- Electronics
- Energy
- Power to Gas
- Transport
- Metal Production & Fabrication
- Pharma & Biotech
- Food & Beverages
- Glass Industry
- Other Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
Purchase the Report @ https://www.futuremarketinsights.com/checkout/1946
More Valuable Insights on Hydrogen Electrolyzer Market:
The research report analyzes the market demand trend for hydrogen electrolyzer. The global market is based on macroeconomic factors, market trends & market background.
About Industrial Automation Division at Future Market Insights
The industrial automation division of FMI offers a novel approach and innovative perspective in analyzing industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial and special purpose machinery across manufacturing sector and distinctive analysis about installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustain, grow and identify new revenue prospects.
Explore wide-ranging Coverage of FMI's Industrial Automation Market Insights Landscape
Air Flow Sensors Market - Air Flow Sensors Market by End Use Industries (Automobiles, Aerospace, Data Centers, Spirometer, Leak Detection in Pressurized Air Systems, Engine Control, Industrial Gas Flow Measurement, HVAC), by Type (Volume Air Flow Sensors, Mass Air Flow Sensors), by Sensing Wire Used, by Output Signals & Regional Forecast till 2032
Power Stacker Market - Power Stacker Market by Type, Application, Load Capacity, Lifting Height & Region - Forecast 2022 - 2032
Air Audit Equipment Market - Air Audit Equipment Market by Equipment Type, End Use & Region - Forecast 2022 - 2032
Marine Cranes Market - Marine Cranes Market by Type, Lifting Capacity, Application & Region - Forecast 2022 - 2032
Marine Bearings Market - Marine Bearings Market by Type, Application & Region - Forecast 2022 - 2032
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
Contact:
Future Market Insights, Inc
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/hydrogen-electrolyzer-market
Explore all the latest Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs
Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg
