Electrolyzer Industry is set to register more than 30% CAGR between 2021 and 2030 driven by increasing government focus toward the development of hydrogen infrastructure and shifting trends toward sustainable power generation sources.
Selbyville, Delaware, Aug. 30, 2021 (GLOBE NEWSWIRE) --
Global electrolyzer market revenue is expected to surpass USD 53 billion by 2030 as reported in the latest study by Global Market Insights Inc. on account of large-scale integration of renewable energy resources and ongoing development of hydrogen infrastructures. Increasing proportion of hydrogen-driven automobiles along with regulatory norms toward low carbon emissions will positively sway the product demand.
The < 500 kW capacity segment will gain an appreciable momentum owing to robust growth across the commercial sector and shifting focus toward sustainable electricity generation sources. Increasing applicability across small scale CHP plants, off gird and mobility electricity supply will amplify the business growth. Ongoing development of smart and efficient establishments along with large-scale electrification programs will stimulate the industry statistics.
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The evolution of hydrogen in line with expansion of the industrial base is attributed to its longstanding potential as a clean energy solution, accelerating the product demand. Ongoing initiatives by respective government authorities toward the utilization of low-emission fuels coupled with mandates to curb the overall emission levels in the industries are set to energize the industry dynamics.
Some prime findings of the electrolyzer market report include:
The electrolyzer industry is growing due to increasing investments from public & private players in environmentally friendly options.
Shifting trends toward FCEV as an alternative to conventional automobiles will propel product penetration.
Key players functional across the market are Air Liquide, Siemens Energy, Plug Power, ITM Power, and McPhy Energy.
Surging investments in large scale on-site hydrogen production for renewable energy storage will fuel the alkaline-based electrolyzer industry.
Browse key industry insights spread across 340 pages with 475 market data tables & 36 figures & charts from the report, “Electrolyzer Market Forecasts By Product (Alkaline Electrolyzer, PEM Electrolyzer, Solid Oxide Electrolyzer), Process (≤ 500 kW, > 500 kW - 2 MW, Above 2 MW), Application (Power Generation, Transportation, Industry Energy, Industry Feedstock, Building Heating & Power), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2030” in detail along with the table of contents:
The global economy is impacted due to COVID-19; even after the resumption of operations, several nations are facing challenges in resuming their manufacturing capacity and many large-scale projects are delayed. Favourable government initiatives to fast-track operations and start the deployment of new projects will energize the business scenario.
North America electrolyzer market is set to witness over 28% CAGR between 2021 and 2030. Increasing adoption of hydrogen-powered cars and trucks combined with growing electric vehicle fleet will positively impact the industry forecasts. For instance, the California Fuel Cell partnership, in 2018, announced the target of five million zero emission vehicles by 2030. The upgrade of existing gas & liquid infrastructure to transport the fuels will propel the business expansion.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/electrolyzer-market
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