The market value of the hydrogen electrolyzer is 350. 6 million US dollars in 2021. Sales are expected to grow at a CAGR of 24. 2% during the forecast period, reaching US$3700 million through 2032.
The market is expected to take advantage of the growing popularity of hydrogen energy during the forecast period. The use of hydrogen electrolyzers is expected to increase in the coming years due to the implementation of strict government regulations aimed at protecting the environment by reducing pollution.
In terms of revenue, Europe is expected to dominate the hydrogen electrolyzer market in 2022 and grow at an immediate rate during the forecast period. it is expected to hold the largest share of the European market.
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As the prices of renewables are significantly reduced, making them more competitive against traditional fuels, their use as a crude curtain for hydrogen electrolysis will drive market expansion thereafter.
Research on mobile hydrogen fuel generation, H-CNG, and mobility responses will play a key role in the dynamics of the hydrogen electrolyzers market. With the growing popularity of mobile fuel generation in the automotive industry, electric mobility, the demand for hydrogen production will proliferate.
“The increasing availability of CAPEX subsidies, tax cuts and low electric power prices will greatly drive the adoption of hydrogen electrolyzers. In addition, hydrogen electrolyzers will provide the missing link between hydrogen and green electric power in countries trying to achieve a decarbonized environment,” says the IMF analyst.
Key Issues for Hydrogen Electrolyzers Market Research
Despite the prevailing uncertainties, experts are on green hydrogen after the pandemic
The global COVID-19 pandemic has suspended the manufacture, supply and demand for hydrogen electrolyzers. In the last quarter of 2020, countries such as Italy experienced a 20% relief in electricity demand, which had an effect on hydrogen. electrolyzer market.
Economies around the world are this time to invest in green hydrogen to stimulate growth. Countries such as Portugal, the Netherlands and Australia are already investing heavily in this technology. This is in line with the EU’s Green Plan to decarbonise and reduce emissions. to 0 until 2050.
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Hydrogen Electrolyzers Market: Competitive Landscape
Global market players are trying to increase their market revenue by more than 20% annually. This is achieved by reducing investment prices through joint collaboration.
For example, ITM Power and Linde collaborated to open a plant in Sheffield, UK, to develop their year-consistent electrolysis capacity through at least 1 GW.
Similarly, NEL and Hydrogenics are preparing for projects to produce 20 MW of hydrogen in Denmark and Canada, respectively. By expanding the length of factories, brands will reduce their overall hydrogen production costs.
Hydrogen electrolyzers market outlook across category
By product type:
By capacity:
By outlet pressure:
By end use:
By region:
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Find more valuable information about the Hydrogen Electrolyzers market:
FMI, in its new marketplaceplaceplace review, offers an unbiased investigation of the hydrogen electrolyzer market that includes a global industry research for 2015-2019 and an assessment of the opportunities for 2020-2030. The report offers a comprehensive investigation of the global Marketplaceplaceplaceplaceplace hydrogen market of electrolyzers in 4 other categories: product type, capacity, external pressure, end user, and region. implemented in the deployment or installation of hydrogen electrolyzers and adoption of products in end-use industries.
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