Industries that use hydrogen as a primary or by- product such as glass, electronics and chemicals consequently require hydrogen electrolyzers, consequently driving the growth of its market. Considering the extensive demand around the globe for hydrogen at 90%, only a minimal amount of it is met by hydrogen produced by water electrolysis. The pivotal role of hydrogen is that of carrying energy that provides support for clean energy globally in the future. Moreover, the push for hydrogen electrolyzer market is to achieve the goal of reducing green house gas emissions and reliance of hydrogen on fossil fuels for energy.
The hydrogen electrolyzer market can be divided on different basis which includes the product type, application and geography. While classifying hydrogen electrolyzer market on the basis of the type of electrolyzer; the major classifications include polymer electrolyte membrane (PEM) electrolyzer, alkaline electrolyzer and finally solid oxide electrolyzer. Electro fuels, liquid fuels and others form the segmentation of hydrogen electrolyzer market on the basis of its application. Geographically speaking, hydrogen electrolyzer market can be bifurcated into USA, Europe, China, Japan, India, Southeast Asia and the reaming world.
Onsite hydrogen generation systems are in great demand consequently pushing the demand for hydrogen electrolyzers. Furthermore, the development in technologies and innovative technologies supporting green production will increase the demand even more. With over 8% CAGR growth in the forecast period of 2018- 2025, the global hydrogen electrolyzer market is expected to reach $350 million mark by 2025 in terms of its market value.
Despite the ever rising demand for hydrogen electrolyzer, the inability to meet it has a lot to do with the expensive transportation costs involved. Additionally, market growth is further threatened given the high costs involved in generation of hydrogen in comparison to natural gas.
If proper storage facilities for hydrogen are developed, significant growth opportunities for high- pressure electrolyzers is certain.
Here are some more points that explain about the Hydrogen electrolyzer market:
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