IGBT Rectifier for Hydrogen Production Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

IGBT Rectifier for Hydrogen Production Market Size

The global IGBT Rectifier for Hydrogen Production market was valued at US$ 13 million in 2023 and is anticipated to reach US$ 612.6 million by 2030, witnessing a CAGR of 70.6% during the forecast period 2024-2030.

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Nowadays, 96% of the global hydrogen produced comes from the use of fossil fuels (i.e., natural gas, oil); whereas production from water electrolysis represents only 4%. Indeed, the cost of hydrogen production by using fossil fuels is smaller than water electrolysis given that current electrolyzers are quite expensive and the cost of electricity as well. However, hydrogen production based on fossil fuels, namely gray hydrogen, suffers from lower purity and higher generation of greenhouse gases. To face the intensive use and depletion of fossil fuels to respond to hydrogen demands, water electrolysis supplied by renewable energy sources (e.g., wind turbine, photovoltaic) is considered an attractive and promising alternative. Renewable energy sources combined with water electrolysis come within the scope of the development of environmentally friendly hydrogen production pathways to substitute current hydrogen production based on pollutant fuels. Water electrolysis can produce hydrogen at high gas purity but features high cost (electrolyzer, electricity) and lower energy efficiency due to a high specific energy consumption. For this reason, energy efficiency, cost of electricity, and water electrolysis systems remain major concern to the development of water electrolysis process at a large scale. The water electrolysis process consists of using electricity coming from the power grid or renewable energy sources to split pure water into hydrogen and oxygen. The global market for water electrolysis for hydrogen production was estimated at US$ 689.98 million in the year 2022, is projected to reach a revised size of US$ 20.93 billion by 2029.

This report aims to provide a comprehensive presentation of the global market for IGBT Rectifier for Hydrogen Production, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding IGBT Rectifier for Hydrogen Production.

By Type
• IGBT Chopper Rectifier
• IGBT Boost Rectifier

By Application
• Alkaline Electrolyzer
• PEM Electrolyzer
• Solid Oxide Electrolyzer

Key Companies
ABB Ltd., Siemens AG, Hubei Green Power Co., Ltd., Prodrive Technologies B.V., Sensata Technologies, Inc., Jiangxi Liyuan Haina Tech. Co., Ltd., Comeca, Sungrow Power Supply, American Superconductor Corporation, Ador Powertron Ltd., KraftPowercon, AEG Power Solutions B.V., Spang Power Electronics, Kexiong Power, Sichuan Injet Electric Co., Ltd.

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