Demand for MENA Hydrogen Electrolyzer Is Expected to Surge at A CAGR of 30.08% By 2040 | Nel Hydrogen, John Cockerill, Plug Power

The MENA hydrogen electrolyzer market was valued at US$ 35.24 million in 2021 and it is anticipated to grow up to US$ 6,491.98 million by 2040, at a CAGR of 30.08% during the forecast period.

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A hydrogen electrolyzer is an apparatus that produces hydrogen through a chemical process (electrolysis) capable of separating the hydrogen and oxygen molecules of which water is composed using electricity. Through electrolysis, the hydrogen electrolyzer system creates hydrogen gas. The oxygen left over is released into the atmosphere or can be captured or stored to supply other industrial processes or even medical gases in some cases.

In general, an electrolyzer contains a cathode (negative charge), an anode (positive charge), and a membrane. The system also contains pumps, vents, storage tanks, a power supply, a separator, and other components. Water electrolysis is an electrochemical reaction that takes place within the cell stacks.

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Market Drivers and Trends

The automotive and transportation sector is experiencing high technological advancement due to various attempts that governments make to reduce carbon emissions from vehicles. For instance, in December 2019, Volkswagen announced plans to reduce the average emissions of its new vehicles by 30% by 2025 and aim to be carbon neutral by 2050. Due to technological advancement in the automotive sector, innovative hydrogen fuel stations are rapidly developing across the MENA region. For instance, in August 2021, according to the article published by the Petrol Plaza, PowerTap Hydrogen Fueling Corp. planned to deploy a minimum of 100 hydrogen fueling stations with multiple Middle Eastern governments and private and public multinational corporations over the next two years, subject to completing the manufacturing of a prototype dispensing unit and successful testing. Additionally, with only two hydrogen fueling stations across the UAE, PowerTap targets to develop a hydrogen highway utilizing many of the country's 643 fueling stations. Further, hydrogen fuel cell vehicles use a propulsion system similar to that of electric vehicles, where energy stored as hydrogen is converted to electricity by the fuel cell.

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MENA Hydrogen Electrolyzer Market Segmentation

By Type

Proton Exchange Membrane (PEM) Electrolyzer
Alkaline Electrolyzer
Solid Oxide Electrolyzer

By Capacity

Below 500 kW
500 kW - 2 MW
Above 2 MW

By End-Use

Ammonia
Methanol
Refining/Hydrocarbon
Transport
Others

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Major Players in the MENA Hydrogen Electrolyzer Market

The key players studied in the MENA hydrogen electrolyzer market are Nel Hydrogen, John Cockerill, Plug Power, Cavendish Renewable Technology, Siemens Energy (Siemens AG), Air Liquide, thyssenkrupp nucera, Asahi Kasei, Cummins (Hydrogenics), and Linde plc.

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