Press release
Hydrogen Electrolyzer Market is anticipated to reach USD 8,746.1 million in 2031 | Nel Hydrogen, Siemens AG, McPhy Energy, ITM Power Plc, Gaztransport & Technigaz
Global Hydrogen Electrolyzer Market report from Global Insight Services is the single authoritative source of intelligence on Hydrogen Electrolyzer Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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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. The hydrogen gas can either be stored as a compressed gas or liquefied since hydrogen is an energy carrier and can be used to power any hydrogen fuel cell electric application, such as trains, buses, and trucks.
Hydrogen Electrolyzer Market Trends
Some of the key trends in the hydrogen electrolyzer market are:
1. Increased Efficiency: Newer electrolyzers are able to operate at up to 80% efficiency, compared to the 60-70% efficiency of older models. This improved efficiency means that more hydrogen can be produced from a given amount of electrical energy.
2. Increased Durability: Newer electrolyzers are made with more durable materials that can withstand higher temperatures and pressures. This means that they can operate for longer periods of time without needing to be replaced.
3. Increased Capacity: Newer electrolyzers are being designed with larger capacities, meaning that they can produce more hydrogen per unit of time. This is important for commercial applications where large quantities of hydrogen are required.
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Hydrogen Electrolyzer Market Drivers
The key drivers of the hydrogen electrolyzer market are the growing demand for clean energy, the declining cost of electrolyzers, and the increasing government support for hydrogen fuel cell technology.
The demand for clean energy is increasing as the world becomes more aware of the impact of greenhouse gas emissions on the environment. Hydrogen is a clean energy source that can be used to power fuel cells, which produce no emissions.
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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
Major Players in the Hydrogen Electrolyzer Market
The key players in the Hydrogen Electrolyzer Market are Nel Hydrogen, Siemens AG, McPhy Energy, ITM Power Plc, Gaztransport & Technigaz, GreenHydrogen Systems, iGas Energy GmbH, Next Hydrogen., Asahi Kasei, thyssenkrupp nucera, Hydrogenics (Cummins), Toshiba Corporation, Plug Power, John Cockerill, H2Greem, Sunfire GmbH, Bloom Energy, Air Liquide, Volkswagen AG (H-TEC SYSTEMS), and Enapter AG.
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