Hydrogen Electrolyzer Market to Witness an Outstanding Growth By 2028: ltm-power, Ballard Power Systems, Quantum Fuel Systems Technologies Worldwide Inc

According to QMI the Hydrogen Electrolyzer Market is expected to promise high growth owing to the increasing demand for electric vehicles in recent years. Increasing demand from End-Use Industries including such as chemicals, automobiles, energy, food & beverages, pharmaceutical & biotechnology, electronics, glass, and metal production & fabrication is expected to drive the growth of the market.

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The process of the hydrogen and oxygen decomposition of water is known as hydrogen electrolysis. This process is used primarily in hydrogen form for energy storage. The hydrogen electrolyzer is used to conduct the hydrogen electrolysis process. Over 85 per cent of global hydrogen is produced from fossil fuels. It is environment friendly, since fossil fuels are not burned. Consequently, many small-scale industries use hydrogen electrolysis, as it is considered the future green fuel.

Segmentation for better understanding of this market and its growth prospects

Countries, such as the US, Canada, Germany, France, China, and India are some of the leading countries in the hydrogen electrolyzer market. This market in the Middle East is witnessing tremendous growth with Saudi Arabia poised to account for a significant market share.

Key players in the market are undertaking various strategies, including mergers and acquisitions to grow in the market. A new technology called the 'anion exchange membrane' electrolyzer is being introduced in the market replacing the PEM electrolyzer even though PEM uses precious metals, such as gold and palladium as layer filters, thus deeming the technology expensive. The AEM electrolyzer, however, is cheaper and cost-efficient.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Itm-power
2. Ballard Power Systems
3. Plug Power
4. Proton Power Control Pvt Ltd.
5. Quantum Fuel Systems Technologies Worldwide Inc.
6. HyperSolar - Technology
7. Kingkar technologies
8. Acta S.p.A.

Important Factors Impacting Market Growth:

o A potential substitute for fossil fuels in a number of applications
o Increased demand for electric vehicles
o Rise in awareness regarding the use of clean energy

Insights about regional distribution of market:

Based on region, the hydrogen electrolyzer market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. Some of the major markets in North America and Western Europe are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major North American and Western European companies are headquartered in this market. These regions have witnessed a number of transitions from end-use industries in terms of the production of chemicals and their respective applications.

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During the forecast period, the Asia Pacific and the Middle East are expected to register significant growth in the market for hydrogen electrolyzers. This demand is for the growth of major end-use industries/applications like chemicals, automobiles, energy, food & beverages, pharmaceutical & biotechnology, electronics, glass, and metal production & manufacturing. Major Asia-Pacific countries include China, South Korea, Japan, India, Australia, etc. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for the hydrogen electrolyzer market. There have been an increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the hydrogen electrolyzer market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Market Segmentation:

By Type:
Polymer Electrolyte Membrane (PEM) Electrolyzer
Alkaline Water Electrolyzer
Solid Oxide Electrolyzer

By End-Use Industry:
Chemicals
Automobile
Energy
Food & Beverages
Pharmaceutical & Biotechnology
Electronics
Glass
Metal Production & Fabrication

By Region:

North America
By Country (US, Canada, Mexico)
By Type
By End-Use Industry

Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Type
By End-Use Industry

Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Type
By End-Use Industry

Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Type
By End-Use Industry

Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Type
By End-Use Industry

Rest of the World
By Region (South America, Africa)
By Type
By End-Use Industry

Reasons to Buy This Report:

Market size estimation of the global hydrogen electrolyzer market on a regional and global basis
The unique research design for market size estimation and forecast
Profiling of major companies operating in the market with key developments
Broad scope to cover all the possible segments helping every stakeholder in the market

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +1 208 405 2835 / +44 121 364 6144 / +91 706 672 4848
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.