Photovoltaic Hydrogen Production market was valued at US$ 59 million in 2022 and is anticipated to reach US$ 2047.7 million by 2029, witnessing a CAGR of 65.2% - Valuates Reports

Photovoltaic Hydrogen Production market was valued at US$ 59 million in 2022 and is anticipated to reach US$ 2047.7 million by 2029, witnessing a CAGR of 65.2% during the forecast period 2023-2029.

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hydrogen production stations. Compared with traditional power stations, the photovoltaic DC power generation system reduces the process of inverter and boost. The main equipment and facilities include photovoltaic modules, combiner boxes, brackets, foundations, grounding devices, etc., photovoltaic modules can be stringed according to the input voltage and current requirements of the hydrogen production station. , Parallel configuration to improve system efficiency. The current technology for hydrogen production by electrolysis of water is mature, the equipment is simple, and the operation and management are relatively convenient. The hydrogen produced is of high purity and pollution-free. It mainly includes hydrogen production by alkaline electrolyzer, hydrogen production by PEM Electrolyzer, and solid oxidation. Three technical routes for hydrogen production from Solid Oxide Electrolyzer
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global Photovoltaic Hydrogen key players include Toyota, Toshiba, etc. Global top two manufacturers hold a share over 75%.
Japan is the largest market, with a share over 35%, followed by North America, and Europe, both have a share over 35 percent.In terms of product, less than 10MW is the largest segment, with a share nearly 80%. And in terms of application, the largest application is Fuel Cell, followed by Petroleum and Chemical, Metal Smelting, etc.

Segment by Type
100MW

Segment by Application
Fuel Cell
Petroleum and Chemical
Metal Smelting
Others

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