The Electrolyzers Global Market Report 2023 by The Business Research Company, provides electrolyzers market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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In accordance with the insights delineated in The Business Research Company’s seminal report, “Electrolyzers Global Market Report 2023,” a salient revelation emerges concerning the robust expansion of the global electrolyzers market. Notably, the market burgeoned from a valuation of $0.29 billion in 2022 to an augmented figure of $0.32 billion in 2023, emblematic of a commendable compound annual growth rate (CAGR) of 10.2%. However, this growth trajectory is not devoid of externalities, as the confluence of global events, particularly the Russia-Ukraine war, introduced perturbations to the anticipated resurgence of the global economy post the COVID-19 pandemic.
The ramifications of this geopolitical conflict resonate globally, inducing economic sanctions on several nations, instigating a notable uptick in commodity prices, and precipitating disruptions in the intricate web of global supply chains. Consequently, this tumultuous landscape has contributed to an escalation in inflation across a spectrum of goods and services, casting a pervasive impact on myriad markets worldwide. Amidst this intricate milieu, the electrochemical domain, specifically the electrolyzers market, exhibits resilience and adaptability.
Prognosticating the trajectory ahead, the forecast posits a trajectory of continued expansion, with the global electrolyzers market poised to attain a size of $0.48 billion by 2027, propelled by a robust CAGR of 10.5%. This trajectory is underpinned by multifarious factors, chief among them being the pervasive integration of technological advancements within the electrolyzers landscape.
Growing demand for fuel cell-based automotive is significantly contributing to the growth of the electrolyzers market. A fuel cell-based automotive is an electrically driven vehicle that utilizes hydrogen as an energy source by a fuel cell that generates electricity. The electrolyzers support the operation of fuel cell-based automotive by providing hydrogen to be used as fuel.
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The electrolyzers market is segmented:
1) By Product: Alkaline Electrolyzer, PEM Electrolyzer, Solid Oxide Electrolyzers
2) By Capacity: Less than 500 kW, 500 kW to 2 MW, Above 2 MW
3) By Application: Power Plants, Steel Plants, Electronics And Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV’s, Power to Gas, Other Applications
Top 5 Major Players:
A discernible trend gaining ascendancy within the realm of electrolyzers is the paradigm shift ushered in by technological innovation. Technological advancement, as the vanguard of progress, has manifested in noteworthy discoveries that catalyze the evolution of technology. A compelling instance of this is the pioneering work conducted by researchers at the Technion Israel Institute of Technology in October 2019. Their seminal achievement, E-TAC, represents a groundbreaking electrolysis technology for electrochemical-thermally activated water splitting, boasting an extraordinary energy efficiency rate of 98.7% in the production of hydrogen from water. This exemplar underscores the symbiotic relationship between scientific innovation and the burgeoning electrolyzers market, positioning technology as the lodestar guiding the industry toward unprecedented efficiency and sustainability.
The electrolyzers market report table of contents includes:
1. Executive Summary
2. Electrolyzers Market Characteristics
3. Electrolyzers Market Trends And Strategies
4. Electrolyzers Market – Macro Economic Scenario
5. Electrolyzers Market Size And Growth
….
26. Africa Electrolyzers Market
27. Electrolyzers Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electrolyzers Market
29. Electrolyzers Market Future Outlook and Potential Analysis
30. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Electrolyzers Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Electrolyzers Market, Segmentation By Capacity, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Electrolyzers Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
…
Table 46: Nel ASA Financial Performance
Table 47: Asahi Kasei Corporation Financial Performance
Table 48: Hydrogenics Financial Performance
Table 49: Areva H2gen Financial Performance
Table 50: Siemens AG Financial Performance
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