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