Global Hydrogen Electrolyzer Market
Dublin, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The "Global Hydrogen Electrolyzer Market (Alkaline, PEM & Solid Oxide): Insights & Forecast with Potential Impact of COVID-19 (2023-2027)" report has been added to ResearchAndMarkets.com's offering.
The global hydrogen electrolyzer market is on a growth trajectory, poised to reach a substantial valuation of US$466.43 million by 2027. This growth is anticipated to be driven by a steady compound annual growth rate (CAGR) of 6.57% during the forecast period spanning from 2023 to 2027.
In 2022, North America took the lead in the global market, driven by the increased utilization of hydrogen. However, the outbreak of the COVID-19 pandemic temporarily slowed down the global market due to delays in the adoption of green hydrogen and the postponement of pipeline electrolysis projects.
Several factors contributed to market growth, including the rising global carbon emissions, increased production of low-carbon hydrogen, expanding ammonia production, growing demand for margarine, increased menthol production capacity, and a surge in the demand for semiconductors.
Challenges on the horizon include the absence of efficient hydrogen storage facilities and potential health effects associated with hydrogen. Nevertheless, the market is expected to witness notable trends, including the rise of hydrogen fuel cell electric vehicles, decreasing production costs of green hydrogen, and a growing number of electrolyzer projects.
The global hydrogen electrolyzer market holds promise, driven by the increasing demand for clean and green hydrogen. Leading manufacturing players are actively pursuing acquisitions and mergers, bolstering their presence in the industry. Furthermore, the escalating demand for electricity across heating, transportation, and industrial sectors presents opportunities for expanding the global market.
For a comprehensive understanding of the market landscape, the report offers insights into the competitive scenario, including detailed company profiles of key players such as Siemens AG, ITM Power, NEL ASA, FuelCell Energy, Air Liquide, and Plug Power.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 65 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $361.61 Billion |
| Forecasted Market Value (USD) by 2027 | $466.43 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Market Overview
1.1 Introduction
1.2 Major Types of Electrolyzer Technology
1.3 Comparison of PEM and Alkaline Electrolysis Technologies
1.4 Opportunities for Electrolysis
1.5 A Clean Hydrogen Economy