Electrolysis is the procedure of exploiting electricity to split water into hydrogen and oxygen. The different processes utilized for hydrogen production comprise traditional alkaline electrolysis, solid oxide and PEM electrolysis. The technical and economic benefits of hydrogen electrolyzer comprise producing pure hydrogen, producing hydrogen on-site, and is projected to be a low-cost approach for producing highly proficient hydrogen throughout the foreseeable future.
According
to the report analysis, ‘Hydrogen Electrolyzer Market: Current Analysis and
Forecast (2021-2027)’ states that the power generation units
around the globe shifting from traditional battery-based systems for power
stowage to novel technologies such as hydrogen electrolyzers are propelling the
market outlook. In addition, surging requirement for highly proficient and
low-space utilizing energy storage systems to control the electricity introduced
from solar, wind, and hydropower generation units are primary aspects propelling
the global hydrogen electrolyzers market during the review period.
Based
on product, the market is categorized into alkaline electrolyzer, PEM
electrolyzer and solid oxide electrolyzer. Presently, PEM electrolyzer captured
substantial share in the global hydrogen electrolyzer market. It is majorly
owing to its high current densities, compact system design, and speedy response
toward present fluctuations. The ongoing implementation of several policies and
norms by developing nations to augment the share of renewables in the complete
energy mix is set to boost the product implementation.
Some
of the major players functioning in the market comprise Green Hydrogen, Areva
H2gen, Giner Inc., Enapter S.r.l., MVS Engineering Pvt. Ltd, Pure Energy
Centre, Cummins Inc., ITM Power plc, McPhy Energy S.A, Siemens AG and Several
M&A's along with partnerships have been undertaken by these players to
boost their existence in dissimilar regions.
North
America and Western Europe are projected to control significant shares in the
global hydrogen electrolyzer market. The market in Asia-Pacific is still in its
nascent phase in terms of an untapped choices it holds, however, over the review
period, a market in Asia-pacific is projected to generate the significant
growth opportunities due to growing use of hydrogen across several end-use
industries such as glass, electronics, welding & metal fabrication and
several others.
The
broad applications of hydrogen across several industries. The improvement of
clean energy systems and their augmenting adoption around various end-use
sectors is propelling the industry growth. Meanwhile, the Asia Pacific is projected
to observe a healthy growth over the review period owing to the growing
environmental concern and the augmenting utilisation of hydrogen across several
end-use industries, such as glass, pharmaceuticals and biotechnology,
electronics, and metal fabrication, among others. Therefore, it is predicted
that during the near years the market of hydrogen electrolyzer will increase
around the globe more efficiently over the review period.
For More Information, refer to
below link:-
Global
Hydrogen Electrolyzer Market
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