According to the report published by Allied Market Research, the global electrolyzer industry was pegged at $0.2 billion in 2019, and is anticipated to reach $0.9 billion by 2027, registering a CAGR of 24.6% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, top segments, top investment pockets, regional scenario, and competitive landscape.
Increase in concern toward reducing carbon emissions and decline in costs of renewable energy fuel the growth of the global electrolyzer market. On the other hand, limited technological advancements hamper the market growth. However, favorable government policies encouraging electric vehicles usher an array of new opportunities in the coming years.
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The global electrolyzer market is segmented on the basis of product, capacity, application, and region. Based on capacity, the from 500 kW to 2 MW segment held the highest market share in 2019, with around half of the global electrolyzer market, and is expected to maintain its dominance throughout the forecast period. On the other hand, the above 2 MW segment is expected to portray the fastest CAGR of 25.0% from 2020 to 2027.
Based on product, the alkaline electrolyzer segment dominated with the largest market share in 2019, holding nearly three-fifths of the global market, and is anticipated the lead the trail throughout the forecast period. On the other hand, the PEM Electrolyzer segment is also anticipated to manifest the highest CAGR of 25.1% from 2020 to 2027.
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Based on region, Europe contributed to the highest market share in 2019, with nearly two-fifths of the global market, and is anticipated to maintain the lead by 2027. Conversely, the market across Asia-Pacific is expected to showcase the fastest CAGR of 25.1% during the forecast period. Other regions studied in the report include LAMEA and North America.
Leading market players profiled in the report include Hydrogenics, Nel ASA, Siemens Energy Global GmbH, Co. KG. AG, Toshiba, Air Liquide, Plug Power, McPhy Energy, ITM Power, Idroenergy, and Next Hydrogen.
Get detailed COVID-19 impact analysis on the Electrolyzer Market Request Here
Covid-19 Scenario
- The restrictions imposed during the lockdown affected the demand for electrolyzers. The supply chain disruptions had also impacted the sales of the market negatively.
- However, the government bodies and companies are taking initiatives to restart their businesses, which would help the industry to recoup soon.
Key findings of the study
- The global electrolyzers market size is provided in terms of revenue.
- Asia-Pacific is projected to grow at the highest CAGR of approximately 25.1%, in terms of revenue, during the forecast period.
- By product, the alkaline electrolyzer segment is anticipated to grow with CAGR 24.6%, in terms of revenue, during the forecast period.
- The Europe and Asia-Pacific dominated the electrolyzers market share by over 38.0% and 32.0% in 2019.
- A comprehensive analysis of the factors that drive and restrain the electrolyzers market growth is provided.
- The qualitative data in this report aims at the market trends, dynamics, and developments in the electrolyzers industry.
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.