Electrolysis is the procedure of exploiting electricity to split water into hydrogen and oxygen. The different processes utilized for hydrogen production comprise traditional alkaline electrolysis, solid oxide and PEM electrolysis. The technical and economic benefits of hydrogen electrolyzer comprise producing pure hydrogen, producing hydrogen on-site, and is projected to be a low-cost approach for producing highly proficient hydrogen throughout the foreseeable future.
According to the report analysis, ‘Hydrogen Electrolyzer Market: Current Analysis and Forecast (2021-2027)’ states that the power generation units around the globe shifting from traditional battery-based systems for power stowage to novel technologies such as hydrogen electrolyzers are propelling the market outlook. In addition, surging requirement for highly proficient and low-space utilizing energy storage systems to control the electricity introduced from solar, wind, and hydropower generation units are primary aspects propelling the global hydrogen electrolyzers market during the review period.
Based on product, the market is categorized into alkaline electrolyzer, PEM electrolyzer and solid oxide electrolyzer. Presently, PEM electrolyzer captured substantial share in the global hydrogen electrolyzer market. It is majorly owing to its high current densities, compact system design, and speedy response toward present fluctuations. The ongoing implementation of several policies and norms by developing nations to augment the share of renewables in the complete energy mix is set to boost the product implementation.
Based on application, the market is classified power generation, transportation, industry energy, industry feedstock, building heating & power and others. Presently, power generation segment caters considerable market share during 2020. It is majorly owing to a growing proportion of renewables coupled with augmenting the infrastructural investments across the commercial segment and the augmenting need for energy imports will strengthen the industry dynamics.
Some of the major players functioning in the market comprise Green Hydrogen, Areva H2gen, Giner Inc., Enapter S.r.l., MVS Engineering Pvt. Ltd, Pure Energy Centre, Cummins Inc., ITM Power plc, McPhy Energy S.A, Siemens AG and Several M&A’s along with partnerships have been undertaken by these players to boost their existence in dissimilar regions.
North America and Western Europe are projected to control significant shares in the global hydrogen electrolyzer market. The market in Asia-Pacific is still in its nascent phase in terms of an untapped choices it holds, however, over the review period, a market in Asia-pacific is projected to generate the significant growth opportunities due to growing use of hydrogen across several end-use industries such as glass, electronics, welding & metal fabrication and several others.
The broad applications of hydrogen across several industries. The improvement of clean energy systems and their augmenting adoption around various end-use sectors is propelling the industry growth. Meanwhile, the Asia Pacific is projected to observe a healthy growth over the review period owing to the growing environmental concern and the augmenting utilisation of hydrogen across several end-use industries, such as glass, pharmaceuticals and biotechnology, electronics, and metal fabrication, among others. Therefore, it is predicted that during the near years the market of hydrogen electrolyzer will increase around the globe more efficiently over the review period.
For More Information, refer to below link:-
Global Hydrogen Electrolyzer Market
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