Hydrogen Electrolyzer Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Hydrogen Electrolyzer Market size was valued at USD 445.3 million in 2021 and is expected to grow at a significant CAGR of 10.6% from 2022 to 2028. The global market provides a detailed overview and that can be segmented by product type, by capacity, output pressure, and end-user. By product type, the hydrogen electrolyzer market has been segmented into Polymer Electrolyte Membrane (PEM) Electrolyzer, Alkaline Water Electrolyzer, and Solid Oxide Electrolyzer. the polymer electrolyte membrane (PEM) electrolyzer segment is likely to be the largest and fastest-growing segment in terms of type. Based on capacity, market is segmented into High (Above 2 MW), Medium (500 kW to 2 MW, Low (<500 kW).  Among these, the high capacity (Above 2 MW) segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on output pressure, the market is segmented into High (≥ 40 bar), Medium (10 bar – 40 bar), Low (≤10 bar). The high (≥ 40 bar) segment accounts for the largest share in 2021. Medium (10 bar – 40 bar) is the second-largest share during the forecast period 2021-2028. Based on the end-user has been segregated into Chemicals, Automobile, Energy, Food and beverages, Pharmaceutical & Biotechnology, Electronics, Glass, Metal Production and Fabrication, and Others. The chemicals segment is expected to dominate other segments in the hydrogen electrolyzer market. The chemicals segment is expected to witness the highest CAGR during the forecast period according to Precision Business Insights.

Key Development:

In June 2020, Nel Hydrogen received an order from Nikola Motor got a 85 MW alkaline electrolyzers that will produce 8 ton/day of hydrogen for fueling stations.