Electrolyzer Market to Hit $3.5 Billion by 2026, Says Global Market Insights, Inc.
Electrolyzer industry is set to register a massive 61% CAGR between 2020 and 2026, owing to increasing public and private funding toward the development of hydrogen infrastructure.
SELBYVILLE, Del., Aug. 17, 2020 /PRNewswire/ -- The electrolyzer market value is set to surpass USD 3.5 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Favorable government norms for sustainable energy, along with hydrogen infrastructure development, is anticipated to complement the business landscape. Increasing investments toward clean energy technologies aimed at carbon emission reduction is set to fuel the product adoption.
The PEM electrolyzer industry is set to grow on account of compact system design, high current densities, and rapid system response toward current fluctuations. Rising investments by the eminent industry manufacturers toward technological advancements to enhance the overall system capacity is set to influence the product demand. Additionally, high partial load range, ability to provide high gas purity and dynamic operations are the key factors that will strengthen the market outlook.
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The ongoing impact of the novel coronavirus across the globe may impact the industrial operations till the second quarter of 2020, thereby affecting the overall market trends. The global public health threat has caused lockdowns and led to restrictions imposed by the various regional and state governments. This has impacted the overall demand for the electrolyzer, owing to supply chain disruptions and unavailability of the workforce. Nevertheless, continuous efforts from the government and private companies to resume their production facilities and manufacturing operations across the major industries will augment the latent product demand.
Some major findings of the Electrolyzer market report include:
- The surging demand for electrolyzers on account of its increasing use as an industrial feedstock, coupled with the declining overall cost of the product.
- Ongoing technological developments, enhanced use in industrial & transport applications, along with shifting trend toward adoption of sustainable power generation technology will drive the market statistics.
- Key players operating across the electrolyzer market includes McPhy Energy, Plug Power, Toshiba, ABB, Hydrogenics, Green Hydrogen and Nel among others
- Ongoing research, design and development activities aimed at product innovation in line with strict norms to minimize the rising carbon footprint will augment the industry scenario.
Browse key industry insights spread across 240 pages with 347 market data tables & 36 figures & charts from the report, "Electrolyzer Market Analysis By Capacity ( <500 kW, 500 kW - 2 MW, Above 2 MW), Application (Power Generation, Transportation, Industry Energy, Industry Feedstock, Building Heating & Power), Products (Alkaline Electrolyzer, PEM Electrolyzer, Solid Oxide Electrolyzer), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 - 2026" in detail, along with the table of contents:
https://www.gminsights.com/industry-analysis/electrolyzer-market
The 500 kW to 2 MW capacity segment is projected to grow owing to rapid industrialization along with ongoing electrification programs in remote areas. Large-scale, on-site use of the systems in various industrial applications including metal, glass, food, and chemical is set to further accelerate the business landscape. Furthermore, reduced cost, flexible delivery contracts, energy-efficient process, significant reduction of emissions and compact & modular design are some of the key characteristics which will augment the product demand.
The U.S. electrolyzer market exceeded USD 2.5 million in 2019. The surging demand for hydrogen from the numerous industrial sectors comprising petrochemicals, refining, glass purification, and fertilizers is anticipated to fuel product penetration in the region. Strict government directives and norms to limit sulfur content, coupled with ongoing initiatives to strengthen the energy infrastructure, will influence the market share. Additionally, the extensive establishment of T&D and hydrogen refueling infrastructure across the region will boost the industry landscape.
Access the ToC of this report at https://www.gminsights.com/toc/detail/electrolyzer-market
Browse Related Report:
Hydrogen Generation Market By Application (Petroleum Refinery, Chemical, Metal), Delivery Mode (Captive, Merchant), Process (Steam Reformer, Electrolysis), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
https://www.gminsights.com/industry-analysis/hydrogen-generation-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]
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Electrolyzer Industry Forecasts 2020-2026
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