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.
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This upcoming report on the hydrogen electrolyzer market provides an in-depth analysis of the current market situation. The report covers components like competitive landscape, key players, regional analysis, and ongoing trends. The report also offers thorough research on how the COVID-19 pandemic will impact the market. The segmental study enables an individual to thoroughly understand the different aspects of the hydrogen electrolyzer market systematically.
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Hydrogen Electrolyzer Market: Competitive Analysis and Notable Developments
Representing a fairly consolidated landscape, the hydrogen electrolyzer market invites dynamic competition. A majority of key players have great influence on the hydrogen electrolyzer market. They strengthen their positions through collaborations, partnerships, joint ventures, mergers, and acquisitions. Research and development activities for producing efficient hydrogen electrolyzers by advancements in catalyst and membrane efficiency are expected to make the hydrogen electrolyzer more affordable for the general populace. Paradigm shifts in the user base according to the changing times urges the key players to change their developmental strategies. These strategies assist in customizing hydrogen electrolyzers accordingly.
Some notable players in the hydrogen electrolyzer market are Hypersolar Technology, Kingkar technologies, Proton Power Control Pvt. Ltd., Ballard Power Systems, Acta S.p.A, ITM Power, and others.
- ITM Power has recently developed a modern polymer electrolyte membrane (PEM) electrolyzer with a 5MW capacity. The stacks can be joined to create 100MW facilities, which can be beneficial for the U.K’s target to meet net-zero emission target by 2050.
- The world’s first commercial use of solid-oxide electrolyzer has been implemented at a biofuel refinery in the Netherlands. Earlier, solid oxide electrolyzers were only used for pilot projects.Such developments highlight the expanding use of solid oxide electrolyzers.
- The first-ever green project primarily focused on the transport sector was launched in Denmark recently. The project will use a 10MW electrolyzer to generate green hydrogen for buses and trucks.
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Hydrogen Electrolyzer Market: Key Trends
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.
Hydrogen Electrolyzer Market: Regional Outlook
The hydrogen electrolyzer market is spread across North America, the Middle East and Africa, Latin America, Asia Pacific Excluding Japan (APEJ), Eastern Europe, Western Europe, and Japan. Western Europe may emerge as a key growth generator for the hydrogen electrolyzer market. The increasing growth of various industries such as metal production, energy, fabrication, etc may serve as the vital factor for growth generation. Asia Pacific may also prove to be a growth generator as key manufacturers are investing hugely in research and development activities across the region.
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