Hydrogen Electrolyzer Market Revenue Growth Predicted by 2032
The global hydrogen electrolyzer market is expected to grow at a CAGR of 24.2% over the forecast period of 2022-2032. The market valuation is set to reach US$ 3.7 Billion by the end of 2032. Rising demand for hydrogen gas across various end-use sectors is estimated to drive growth in the hydrogen electrolyzer market during the forthcoming years.
Development of new technologies to reduce the operational cost of hydrogen electrolyzers... moreHydrogen Electrolyzer Market Revenue Growth Predicted by 2032
The global hydrogen electrolyzer market is expected to grow at a CAGR of 24.2% over the forecast period of 2022-2032. The market valuation is set to reach US$ 3.7 Billion by the end of 2032. Rising demand for hydrogen gas across various end-use sectors is estimated to drive growth in the hydrogen electrolyzer market during the forthcoming years.
Development of new technologies to reduce the operational cost of hydrogen electrolyzers is anticipated to fuel the market. Moreover, rising awareness about the harmful effects of carbon emissions worldwide are set to create new growth opportunities in the market.
By product type, sales of PEM electrolyzers are expected to grow at a CAGR of 25.2% during the forecast period.
By outlet pressure, the low (<= 10 bar) segment is anticipated to dominate the market and is expected to account for about 2/3rd of the share.
By end use, the transportation segment is projected to lead the hydrogen electrolyzer market and create an absolute $ opportunity worth US$ 905.5 Mn in 2032.
In terms of region, the Europe hydrogen electrolyzers market is estimated to exhibit a CAGR of 24.1%.
“Increasing demand for hydrogen fuel due to rising investments in novel programs for reducing carbon emissions globally is set to create new growth opportunities for companies in the hydrogen electrolyzers market,” says a FMI analyst.
Leading Companies Profiled in Hydrogen Electrolyzer Market are
Nel Hydrogen
Siemens AG
McPhy Energy
ITM Power Plc
Tianjin Mainland Hydrogen Equipment Co. Ltd
Gaztransport & Technigaz
Giner Inc.
GreenHydrogen Systems
iGas Energy GmbH
Beijing CEI Technology Co., Ltd.
Next Hydrogen
Air Liquide
Ballard Power Systems
Enapter
Plug Power Inc.
Bloom Energy
others
Manufacturers are strategically collaborating with technology companies for co-developing new products and gaining a competitive edge. A few others are looking forward to helping the oil and gas industry by providing technologically advanced products.
Low (<= 10 Bar)
Medium (150 Bar–40 Bar)
High (> 40 Bar)
By End Use:
Ammonia
Methanol
Refining/ Hydrocarbon
Electronics
Energy
Power to Gas
Transport
Metal Production & Fabrication
Pharma & Biotech
Food & Beverages
Glass Industry
Other Industrial
