Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Global Electrolyzer Market (2023 Edition): Analysis by Type (Traditional Alkaline, PEM, Solid Oxide), Capacity (<=500KW, 500KW - 2 MW, Above 2 MW), By Application, By Region, By Country: Market Insights and Forecast (2019-2029)" report has been added to ResearchAndMarkets.com's offering.
The Global Electrolyzer Market is expected to generate USD 15.49 billion by the end of 2029, up from USD 3.64 billion in 2022. The market for alkaline electrolyzers is driven by the increasing demand for hydrogen in various applications such as power generation, transportation, and industrial gas. The transportation segment is expected to grow at the highest CAGR during the forecast period, due to the increasing adoption of fuel cell vehicles. During the forecast period, 2024-2029, Global Electrolyzer is expected to expand at a CAGR of 18.69%. The demand for alkaline electrolyzers has been increasing due to the growing demand for hydrogen as a clean energy source.
The electrolyzer market is growing rapidly due to the increasing demand for green hydrogen, which is produced using renewable energy sources such as wind and solar power. Electrolyzers are used to produce hydrogen through the process of electrolysis.
The market is driven by the need to reduce carbon emissions and transition towards a more sustainable energy system. The industrial sector is a major consumer of hydrogen, and the use of hydrogen in industries such as refining, chemicals, and steel production is expected to drive the demand for electrolyzers.
However, the high cost of electrolyzers and the lack of a regulatory framework for the development of hydrogen infrastructure are some of the challenges faced by the market. Nonetheless, with the increasing focus on decarbonization and the adoption of renewable energy sources, the electrolyzer market is expected to witness significant growth in the coming years.
Scope of the Report
- The report analyses the Electrolyzer Market by Value (USD Million).
- The report analyses the Electrolyzer Market by Volume (MW).
- The report presents the analysis of the Electrolyzer market for the historical period of 2019-2022, the estimated year 2023, and the forecast period of 2024-2029.
- The report analyses the Electrolyzer Market by Type (Traditional Alkaline, PEM, Solid Oxide).
- The report analyses the Electrolyzer Market by Application (Power Plants, Steel Plants, Electronics & Photovoltaics, Others).
- The report analyses the Electrolyzer Market by Industry (Industrial & Manufacturing, Commercial, Residential, Others).
- The report analyses the Electrolyzer Market by Capacity (< =500KW, 500KW - 2 MW, Above 2 MW).
- The Global Electrolyzer Market has been analyzed by countries (United States, Canada, Brazil, Germany, France, United Kingdom, China, Japan, South Korea and India).
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by country, by type, by application, by industry, and by capacity.
- Also, the major opportunities, trends, drivers, and challenges of the industry have been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Ineos, Asahi Kasei, Thyssenkrupp Nucera, Bloom Energy, ITM Power PLC, Cummins, PowerCell Sweden AB, Toshiba, SolidPower, FuelCell Energy.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $6.58 Billion |
| Forecasted Market Value (USD) by 2029 | $15.49 Billion |
| Compound Annual Growth Rate | 18.6% |
| Regions Covered | Global |
Key Topics Covered
1. Market Background
2. Strategic Recommendations
3. Global Electrolyzer Market: Historic and Forecast (2019-2029)
4. Global Electrolyzer Market, Regional Analysis
5. Americas Electrolyzer Market: Historic and Forecast (2019-2029)
6. Europe Electrolyzer Market: Historic and Forecast (2019-2029)
7. Asia Pacific Electrolyzer Market: Historic and Forecast (2019-2029)
8. Middle East and Africa Electrolyzer Market: Historic and Forecast (2019-2029)
9. Industry Ecosystem Analysis
10. Market Dynamics
11. Competitive Positioning
For more information about this report visit https://www.researchandmarkets.com/r/9cxvly
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
