Electrolyzers Market

According to a research report "Electrolyzers Market, by Type (Alkaline Electrolyzer (AE), Proton Exchange Membrane (PEM) and Others), Capacity (Less than 500 kW, 500 kW to 2 MW and Above 2 MW), Application (Power Generation, Transportation, Industry Energy, Industry Feedstock, Building Heat & Power and Others) & Region - Global Forecast to 2030

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• 160 - Market Data Tables 
• 59 - List of Figures
• 205 - Pages

Market Overview: The global Electrolyzers Market is experiencing substantial growth, emerging as a significant player in the renewable energy sector. Electrolyzers serve as crucial devices, facilitating the conversion of electricity into hydrogen or other gases through the process of water electrolysis. This method holds considerable importance in generating green hydrogen, a clean and sustainable energy carrier. The increasing emphasis on decarbonization and the shift towards green energy solutions is driving the demand for electrolyzers, positioning them as pivotal components in the worldwide energy transition. As governments and industries globally prioritize the reduction of carbon emissions, electrolyzers play a vital role in tapping into renewable energy sources and promoting the establishment of a sustainable hydrogen economy. The market is marked by notable technological advancements, strategic partnerships, and a rise in investments, underscoring its instrumental role in shaping the trajectory of clean energy.

Market Dynamics

Drivers:

• Reduced costs of renewable energy sources
• Growing need for green ammonia production through electrolyzers for fertilizer manufacturing
• Increasing demand for vehicles operated with hydrogen fuel cells

Opportunities:

• Developing new electrolyzer technologies
• Growing investment in hydrogen infrastructure

The Electrolyzers Market dominates North America.

In 2023, the Electrolyzers market in North America secured a prominent share. North America has become the predominant market for electrolyzers, driven by the demand for diverse applications in manufacturing processes. The region's power industry extensively utilizes hydrogen, contributing significantly to the market's sustained revenue growth. The robust infrastructure supporting manufacturing activities in North America plays a pivotal role in fueling market expansion. Rapid investments in refining, exploration, and production further amplify the demand for hydrogen gas, establishing North America as a significant contributor to the market's overall growth trajectory.

On the other hand, Europe is anticipated to dominate the electrolyzers market in the foreseeable future, holding the largest market share. The analysis of the European market includes a focus on countries such as Germany, the UK, France, Denmark, Austria, Spain, the Netherlands, Norway, and the Rest of Europe. Presently, hydrogen contributes to less than 2% of Europe's energy consumption, primarily employed in the production of plastics and fertilizers, with 96% originating from natural gas, resulting in substantial CO2 emissions. The growth trajectory of the European electrolyzers market is characterized by an upswing in the production of green electricity for small-scale applications in rural areas and the escalating demand for green fuel, driven by the increased adoption of fuel cell vehicles.

Key Players in the market report:

• Siemens AG
• ITM Power PLC
• Nel Hydrogen
• McPhy Energy S.A.
• Ballard Power Systems Inc.
• Plug Power Inc.
• ABB Ltd.
• Hydrogenics Corporation
• Toshiba Energy Systems & Solutions Corporation
• ELB Elektrolysetechnik GmbH
• Proton OnSite
• Giner ELX
• Enapter AG
• Green Hydrogen Systems
• Areva H2Gen

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Segmentations Analysis of Electrolyzers Market: -

• By Type
• By Capacity
• By Application
• By Region

Recent Development: In March 2023, Siemens Energy has inked a deal with HIF Global to provide polymer electrolyte membrane (PEM) electrolyzers for the eFuels plant in Texas owned by HIF Matagorda. The electrolyzer is slated to facilitate the production of 300 thousand tons of green hydrogen annually. This strategic agreement not only enables Siemens Energy to highlight its prowess in electrolyzer manufacturing and design but also strengthens its foothold in the U.S. market.

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