Press release
With 9.3% CAGR, Electrolyzer Market Size to Reach USD 796.3 Million 2023-2028
Electrolyzer Market Report 2023
Report Highlights
How big is the electrolyzer market?
The global electrolyzer market size reached US$ 461.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 796.3 Million by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.
What is an electrolyzer?
An electrolyzer is a device that facilitates the electrochemical decomposition of water into its constituent elements-hydrogen and oxygen-through a process known as electrolysis. This is an essential technology used to produce green hydrogen, a form of hydrogen made using renewable energy sources. Electrolyzers are commonly utilized in various sectors, including renewable energy, industrial processes, and transportation, to produce hydrogen on demand. They are widely available in different types, primarily alkaline, polymer electrolyte membrane (PEM), and solid oxide, each with unique applications and advantages. In recent years, electrolyzers have gained immense traction worldwide as they offer a sustainable and efficient solution for hydrogen production, fulfilling the growing need for cleaner energy alternatives in the face of escalating environmental concerns.
Request for a sample copy of this report: https://www.imarcgroup.com/electrolyzer-market/requestsample
What are the growth prospects and trends in the electrolyzer industry?
The global electrolyzer market is primarily driven by the heightening focus on renewable energy sources and reducing greenhouse gas emissions, which places green hydrogen as a pivotal element in future energy systems. Additionally, advancements in electrolyzer technologies have led to improved efficiencies and reduced costs, making them more accessible for industrial applications. In line with this, the rise in fuel cell vehicles in the automotive sector, which use hydrogen as a fuel source, is contributing to market growth. Furthermore, governments of various countries are introducing favorable policies and grants to encourage the adoption of hydrogen technology, thus providing a positive thrust to the market. This collective shift toward sustainability and cleaner energy options is expected to propel the growth of the electrolyzer market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
Alkaline Electrolyzer
PEM Electrolyzer
Solid Oxide Electrolyzer
Breakup by Capacity:
Less than 500 kW
500 kW to 2 MW
Above 2 MW
Breakup by Application:
Power Generation
Transportation
Industry Energy
Industry Feedstock
Building Heat and Power
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Air Liquide S.A.
Air Products and Chemicals Inc.
Asahi Kasei Corporation
Cummins Inc.
ITM Power plc
Linde plc
McPhy Energy S.A.
Nel ASA
Plug Power Inc.
Siemens AG
Titanium Tantalum Products Limited
Toshiba Corporation.
Ask Analyst for Customization and Browse full report with TOC List of Figure: https://www.imarcgroup.com/request?type=report&id=4752&flag=C
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email:sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Groups information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release With 9.3% CAGR, Electrolyzer Market Size to Reach USD 796.3 Million 2023-2028 here
News-ID: 3221990 • Views: …
More Releases from IMARC Group
Geo-Textile Manufacturing Plant Setup Cost 2025: CapEx/OpEx Analysis with Profit …
Setting up a geo-textile manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Geo-Textile Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a geo-textile manufacturing plant, covering…
Cashew Butter Manufacturing Plant Report 2025: Raw Materials, Investment Opportu …
Cashew butter is a creamy spread made by grinding roasted cashew nuts into a smooth paste, often enhanced with a pinch of salt or sweeteners. It is rich in healthy fats, protein, vitamins, and minerals, making it a nutritious alternative to traditional spreads like peanut butter. Cashew butter is widely used as a spread, in smoothies, baked goods, and health-focused recipes, gaining popularity among health-conscious consumers, vegans, and those seeking…
Calcium Chloride Anhydrous Production Cost Report 2025: Plant Setup Economics an …
Setting up a calcium chloride anhydrous production facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Calcium Chloride Anhydrous Production Cost Analysis Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a…
Paper Bag Manufacturing Plant Cost Report 2025: Layout, Machinery, Raw Materials …
Setting up a paper bag manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Paper Bag Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a paper bag…
More Releases for Electrolyzer
Electrolyzer Market Size 2024 to 2031.
Market Overview and Report Coverage
An electrolyzer is a device that uses electricity to break water into hydrogen and oxygen gas through a process called electrolysis. The hydrogen gas can then be used as a clean energy source through fuel cells or other applications. The global electrolyzer market is expected to grow at a CAGR of 25.10% during the forecasted period.
The increasing demand for clean and renewable energy sources,…
Global Electrolyzer Market Research Report 2023-2029
Electrolysis is a promising option for hydrogen production from renewable resources. Electrolysis is the process of using electricity to split water into hydrogen and oxygen. This reaction takes place in a unit called electrolyze. Electrolyzes can range in size from small, appliance-size equipment that is well-suited for small-scale distributed hydrogen production to large-scale, central production facilities that could be tied directly to renewable or other non-greenhouse-gas-emitting forms of electricity production.
Electrolyzer…
Electrolyzer Market Size, Share, Development by 2023
Electrolysis is a promising option for hydrogen production from renewable resources. Electrolysis is the process of using electricity to split water into hydrogen and oxygen. This reaction takes place in a unit called electrolyze. Electrolyzes can range in size from small, appliance-size equipment that is well-suited for small-scale distributed hydrogen production to large-scale, central production facilities that could be tied directly to renewable or other non-greenhouse-gas-emitting forms of electricity production.
LPI…
Green Hydrogen Market by Technology (Proton Exchange Membrane Electrolyzer, Alka …
Green Hydrogen Market
Global green hydrogen market size was valued at USD 0.3 Billion in 2020, and is projected to reach USD 9.8 Billion by 2028, growing at a CAGR of 54.7% from 2021 to 2028.
Inquire for Chapter Cost: https://reports.valuates.com/request/chaptercost/ALLI-Manu-4Q70/Green_Hydrogen_Market
Key drivers of the green hydrogen market include the increasing environmental concerns driving the need for cleaner energy sources. The rising awareness regarding hydrogen as an efficient energy carrier will fuel…
Global Electrolyzer Market By Type: Alkaline Electrolyzer, PEM Electrolyzer, Sol …
Global Electrolyzer Market is driven by the increasing imposition of stringent policies by governments in various geographical regions, growing consumers' awareness of the environment, and rising demand for fuel cell-based electronic vehicles in regions like China, Japan, and India.
Water is electrolyzed using electrolyzers. Hydrogen and oxygen are generated from water through electrolysis and then stored for usage in the chemical, energy, transportation, and industrial process sectors. The electrolyzers use different…
Green Hydrogen Market Size, Share & Growth Analysis By Technology (Pem Electroly …
The Green Hydrogen Market Research Reports 2021–2027 is an Analysis and In-depth study of the Green Hydrogen Market Industry, with the target of global market trend. The report mainly focuses on the market size, market structure, market share, growth cost structure, and forecast for 2027. The Research Report is an analysis of quantitative of the Green Hydrogen market and gives information for making strategies to developing the Green Hydrogen Market…
