Press release
Hydrogen Electrolyzer Market Will remain optimistic with growth at 10% Through 2030.
Hydrogen Electrolyzer Market AnalysisConventionally, natural gas has been the primary source of hydrogen production. Around 6%-7% of its utilization is channelized towards hydrogen production. Production of hydrogen from natural gas is exorbitant with fuel being the largest cost factor. With costs of renewable electricity steadily declining, the production of hydrogen from water electrolysis will incite demand for hydrogen electrolyzers. Further, a steady dip in prices of solar, wind, and PV is being witnessed.
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The use of hydrogen electrolyzers at places with an abundant supply of natural resources will pave way for a supply option at an affordable cost keeping into account distribution and transmission costs.
Hydrogen Electrolyzer Market Outlook & Key Findings
• Hydrogen electrolyzer market is set to grow at a CAGR of over 10% during the forecast period 2020-2030
• The global hydrogen electrolyzer market size is projected to witness a substantial 2.5x increase in market size by 2030
• Growing investment in renewable electricity through water electrolysis will continue to drive demand for hydrogen electrolyzers
• China, Germany, Japan, Korea, and India will be the key regions adopting hydrogen electrolysis on the back of higher gas import prices for hydrogen generation
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Competitive Landscape
The global hydrogen electrolyzer market is a fragmented market due to the presence of a number of regional as well as international players. The strategies of market stakeholders revolve around enhancing scalability, cost efficiency and increasing the production.
Some of the prominent companies in the hydrogen electrolyzer market include Siemens AG, Nel Hydrogen, McPhy Energy S.A, ITM Power Plc, Hydrogenics, Tianjin Mainland Hydrogen Equipment Co. Ltd, Areva H2Gen, Giner Inc., ELB Elektrolysetechnik GmbH, GreenHydrogen.dk ApS, iGas Energy GmbH, Beijing CEI Technology Co., Ltd. And Next Hydrogen, and Accagen SA etc. and others.
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