A new market research report by Future Market Insights on the hydrogen electrolyzer market includes global industry analysis 2014–2018 and opportunity assessment 2019–20289. The report investigates the hydrogen electrolyzer market and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the global hydrogen electrolyzer market is expected to experience substantial growth during the forecast period due to multiple driving factors, such as increasing requirements from hydro-processing industry and preference for on-site hydrogen generation system across geographies.
The global hydrogen electrolyzer market was valued at ~US$ 200 Mn in 2018, and is estimated to increase at a CAGR of ~7% during the forecast period of 2019-2029. This growth is majorly driven by the increasing consumption of hydrogen electrolyzer in energy, electronics, and power to gas, transportation, metal production, & fabrication applications, among others.
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Europe Leads Gains, APEJ Offers Greater Opportunities
Western Europe is projected to hold significant market shares in the global hydrogen electrolyzer market value due to the positive growth in end-use industries, such as energy, transport, metal production, and fabrication. However, the APEJ region is expected to project lucrative growth in the global hydrogen electrolyzer market during the forecast period of 2019-2029. China is estimated to be prominent in the Asia Pacific market by holding approximately one third of the market value share, and the trend is likely to continue till 2029.
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Energy Sector to Remain Key End User of Hydrogen Electrolyzers
The global hydrogen electrolyzer market has been segmented on the basis of different types of hydrogen electrolyzer, capacity, outlet pressure, end use, and regions, such as North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan, and Middle East and Africa.
On the basis of product, the alkaline electrolyzer is estimated to hold significant shares of the global hydrogen electrolyzer market in terms of value.
By end use, the energy industry is projected to hold significant share of the global hydrogen electrolyzer market across all regions, owing to the various applications as a fuel for furnaces, turbines, etc. However, the power to gas sector is expected to grow at a high CAGR. Transport and metal production & fabrication sectors are also anticipated to grow at a moderate CAGR during the forecast period.
On the basis of capacity, the hydrogen electrolyzer of high (> 1MW) capacityis projected to consume majority value share of the market. However, the demand for low (≤ 150 kW)capacity is expected to project a rapid growth in the global hydrogen electrolyzer market.
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Hydrogen Electrolyzer Market: Vendor Insights
The report indicates some of the prominent market players, who are recognized as leaders in the global hydrogen electrolyzer market. Some of the key players in the global hydrogen electrolyzer market are SiemensAG, McPhy Energy S.A., Nel Hydrogen, ITM Power Plc, Hydrogenics, Areva H2Gen, Giner Inc., Tianjin Mainland Hydrogen Equip`ment Co. Ltd., Beijing CEI Technology Co., Ltd., iGas Energy GmbH, ELB Elektrolysetechnik GmbH, Next Hydrogen, GreenHydrogen.dk ApS, and Accagen SA, among others.
The global hydrogen electrolyzer market is considerably consolidated with some players holding prominent shares of the market. These players are offering hydrogen electrolyzers under several brands.
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