Electrolyzers Market worth $57.2 billion by 2030 - Exclusive Report by MarketsandMarkets™

139 – Tables48 – Figures202 – Pages 139 – Tables 48 – Figures 202 – Pages Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=23889518 Electrolyzers Market Scope:   The alkaline electrolyzer, by technology, is expected to be the largest segment during the forecast period. Based on technology, the Electrolyzers Market has been split into alkaline electrolyzers (AE), proton exchange membrane (PEM), solid oxide electrolyzers (SOE), and...

139 – Tables
48 – Figures
202 – Pages

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Electrolyzers Market Scope:

 

The alkaline electrolyzer, by technology, is expected to be the largest segment during the forecast period.

Based on technology, the Electrolyzers Market has been split into alkaline electrolyzers (AE), proton exchange membrane (PEM), solid oxide electrolyzers (SOE), and anion exchange membrane (AEM). The Electrolyzers Market for alkaline electrolyzers is anticipated to have the biggest market share over the forecast period. Alkaline electrolyzers is established and mature electrolysis technologies. As the need for green hydrogen grows, there is a rising emphasis on lowering the cost of electrolyzers. Alkaline electrolyzers are becoming more appealing for large-scale hydrogen generation due to their relatively simple design and lower capital costs compared to other technologies.

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The grid injection segment, by application, is expected to grow at the highest CAGR during the forecast period.

This report segments the Electrolyzers Market based on application into four segments: energy, mobility, industrial, and grid injection. The grid injection segment is expected to grow at the highest CAGR during the forecasted period, owing to the extensive decarbonization efforts in North America, Europe, and Asia Pacific. Green hydrogen can be transported using grids. Renewable energy plants produce varying amounts of energy depending on the day and season. The extra electricity produced can be converted into green hydrogen and fed back into the system. This enables solar and wind power plants to operate at full capacity. Additionally, the penetration of renewables in the energy system presents significant opportunities. Even the pipe system, which is part of the grid system, serves as a storage vessel. Hydrogen may be transported by grid injection for lower cost and is suitable for various purposes.

Asia Pacific is expected to be the fastest growing region in the Electrolyzers Industry.

Asia Pacific is expected to be the fastest growing region in the Electrolyzers Market during the forecast period. The Asia Pacific region comprises major economies such as China, Japan, and Australia. The Electrolyzers Market in Asia Pacific is primarily fueled by the increasing foreign investments in green hydrogen projects. According to IEA, China is estimated to account for nearly half of global electrolyzers manufacturing capacity by the end of 2023. Asia Pacific is one of the leading markets for adopting green technologies to meet the government targets for reducing GHG emissions. It aims to deploy green hydrogen on a large scale. The country plans to have 200,00 green hydrogen fuel cell vehicles and 320 hydrogen refueling stations by 2025 to meet the global carbon emission standards.

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Key Players

Some of the major players in the Electrolyzers Companies are thyssenkrupp nucera (Germany) , John Cockerill (Belgium), Nel ASA (Norway), Plug Power Inc. (US), and Siemens Energy (Germany). The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, joint ventures, collaborations, investments, and expansions.

Recent Developments

Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

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Hydrogen Generation Market by Technology (SMR, ATR, POX, Coal Gasification, Electrolysis), Application (Refinery, Ammonia, Methanol, Transportation, Power Generation), Source (Blue, Green, Gray), Generation Mode Region - Global Forecast to 2028

Hydrogen Market by Sector (Generation Type (Gray, Blue, Green), Storage (Physical, Material), Transportation (Long, Short)), Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Refinery, Ammonia, Methanol)), Region - Global Forecast to 2030

Green Ammonia Market by Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM) Electrolysis, Solid Oxide Electrolysis), End-Use Application (Transportation, Power Generation, Industrial Feedstock) & Region - Global Forecast to 2030

Green Hydrogen Market by Technology (Alkaline and PEM), Renewable Source (Wind, Solar, Geothermal, Hydropower, and Hybrid of Wind & Solar), End-Use Industry (Mobility, Power, Chemical, Industrial, Grid Injection), and Region - Global Forecast to 2027

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