Industry Background:
Electrolysis is a promising alternative for hydrogen production through renewable resources. In electrolysis, electricity is used to split water into oxygen and hydrogen in a system known as an electrolyzer. A hydrogen electrolyzer is a system with an electrolyte solution, in which the electrodes such as anode and cathode have been placed. The anode is connected to the positive side whereas the cathode is connected to the negative side.
According to AMA Research, the market for Hydrogen Electrolyzer is expected to register a CAGR of 7.1% during the forecast period to 2030. This growth is primarily driven by A Rise in the Use of Hydrogen in Refinery Hydro-Processing
.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Gas Utilities sector in the Europe region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Nel ASA (Norway), McPhy Energy (France), Hydrogenics GmbH (Germany), Tianjin Mainland Hydrogen Equipment (China), Giner (United States), Siemens (Germany), Areva H2Gen (France), GreenHydrogen (Denmark), IGas Energy Plc (United Kingdom) and Accagen SA (Switzerland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Renewable energy startup Ohmium International announced the start of India's first green hydrogen electrolyzer gigafactory that will turn power from renewable sources into carbon-free hydrogen. The Bengaluru plant will have an initial manufacturing capacity of 500 MW per year, with plans to scale to 2 GW (2000 MW), the firm said in a statement.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Hydrogen Is Already Outcompeting Fossil Fuels in Several Places in the World
Market Growth Drivers:
A Rise in the Use of Hydrogen in Refinery Hydro-Processing, Increased Need for Eliminating High Hydrogen Transport Costs, Rise in Demand for Eco-Friendly Fuels as an Energy Source and Supportive Government Regulations towards Use of Hydrogen
Challenges:
The Market is Highly Concentrated As there are Already Established Players
Opportunities:
Decreasing Electrolyzer CAPEX and Hydrogen Has Potential to Become a Preferred Fuel Alternative In The Future
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Hydrogen Electrolyzer Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Hydrogen Electrolyzer Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Hydrogen Electrolyzer players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Hydrogen Electrolyzer Study Sheds Light on
The Hydrogen Electrolyzer Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Hydrogen Electrolyzer industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Hydrogen Electrolyzer industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.