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Hydrogen Electrolyzer Market 2022 New Technological Development Projecting Massive Growth till 2032

01-18-2023 08:52 AM CET | Industry, Real Estate & Construction

Press release from: Future Market Insights

Hydrogen Electrolyzer Market 2022 New Technological

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 Bn 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.

Higher adoption of renewable energy sources and increasing onsite hydrogen production are set to boost the demand for hydrogen electrolyzers in the upcoming decade. Apart from that, surging demand for carbon-free steel in various industries such as automotive is projected to create new growth opportunities in the steel manufacturing sector.

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Increasing initiatives taken by several automotive manufacturers to reduce carbon emission from vehicles is another vital factor that would propel sales of hydrogen electrolyzers in future. Surging development of green energy worldwide is also expected to drive the market.

Key Takeaways: Hydrogen Electrolyzer 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 (

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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