An electrolyzer is a container that contains a liquid electrolyte. The electrolyte's primary function is to separate the anode and cathode. By delivering an electric current through these systems, water is decomposed into hydrogen and oxygen. The electrolyzers are available in various sizes and have different methods of electrolysis. Most of the electrolyzers used are alkaline electrolyzers. Factors such as Surging demand for hydrogen as a feedstock across the chemical and other industries is creating profitable opportunities for the electrolyzer market in the forecast period.
MARKET DYNAMICS
The increasing research & development activities to produce green hydrogen coupled with rising government spending on H2 energy design & development programs and rising sales of electric vehicles (EVs) are driving the demand for hydrogen refueling stations and electrolyzers are driving the growth of the electrolyzer market. Higher cost of the device may restrain the growth of the electrolyzer market. Furthermore increasing awareness about the harmful impact of burning fossil fuels is anticipated to create market opportunities for the electrolyzer market during the forecast period.
MARKET SCOPE
The "Global Electrolyzer Market Analysis to 2028" is a specialized and in-depth study of the electrolyzer market with a special focus on the global market trend analysis. The report aims to provide an overview of electrolyzer market with detailed market segmentation by product, capacity, application, and geography. The global electrolyzer market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading electrolyzer market players and offers key trends and opportunities in the electrolyzer market.
MARKET SEGMENTATION
The global electrolyzer market is segmented on the basis of by product, capacity, and application. On the basis of product the market is segmented into alkaline electrolyzer, PEM electrolyzer, and solid oxide electrolyzer. Based on capacity the market is segmented into less than 500 kW, 500 kW to 2 MW, and above 2 MW. Based on application the market is segmented into energy & power, transportation, industry feedstock, building heat & power, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global electrolyzer market based on various segments. It also provides market size and forecast estimates from year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The electrolyzer market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting electrolyzer market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the electrolyzer market in these regions.
IMPACT OF COVID-19 Electrolyzer MARKET
In countries like China, Brazil, and India, the COVID-19 pandemic had a mixed influence on the energy and power sector. Furthermore, industry players are forced to follow strict restrictions as a result of social distancing and lockdown norms, which has harmed electrolyzer operations. Due to the relaxation of the lockdown by the government authorities and the reopening of industrial facilities, manufacturing plants, and the transportation sector, the industry is expected to recover its lost strength by 2021. In addition, the industry's prospects will be bolstered by restructuring investments in new projects and renovating current facilities.
MARKET PLAYERS
The reports cover key developments in the electrolyzer market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from electrolyzer market are anticipated to lucrative growth opportunities in the future with the rising demand for electrolyzer market. Below mentioned is the list of few companies engaged in the electrolyzer market.
The report also includes the profiles of key electrolyzer market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Nel ASA
- Siemens Energy Global GmbH, Co. KG. AG
- Next Hydrogen
- Air Liquide S.A.
- Air Products and Chemicals Inc.
- Asahi Kasei Corporation
- Cummins Inc.
- ITM Power plc
- McPhy Energy S.A.
- Plug Power Inc