The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Growing demand for fuel cell-based automotive are expected to drive innovation in electrolyzers manufacturing, thus driving the market during the forecast period.

The global electrolyzers market is expected to grow from $0.29 billion in 2022 to $0.32 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The electrolyzers market size is expected to grow to $0.48 billion in 2027 at a CAGR of 10.5%.

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Global Electrolyzers Market Segments Include:

• By Product: Alkaline Electrolyzer, PEM Electrolyzer, Solid Oxide Electrolyzers
• By Capacity: Less than 500 kW, 500 kW to 2 MW, Above 2 MW
• By Application: Power Plants, Steel Plants, Electronics And Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV’s, Power to Gas, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe is the largest region in the global electrolyzers market in 2021.

Major Market Players in the electrolyzers market include Nel ASA, Asahi Kasei Corporation, Hydrogenics, Areva H2gen, Siemens AG, McPhy Energy S.A., ITM Power PLC, Erredue SpA, Enapter, Next Hydrogen.

Technological advancements are a key trend gaining popularity in the electrolyzers market. Technological advancement is a discovery of knowledge that advances technology. For instance, in October 2019, Technion Israel Institute of Technology researchers, an Israel-based public research university developed E-TAC, a new electrolysis technology for electrochemical – thermally activated water splitting. This technology provides an energy efficiency of 98.7% for the production of hydrogen from water.

The Electrolyzers Global Market Report 2023  provides a electrolyzers market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032).  The electrolyzers market forecast analyzes electrolyzers market size, electrolyzers market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Electrolyzes refer to a device that uses electricity to separate the hydrogen and oxygen molecules that make up water to generate hydrogen through a chemical reaction known as electrolysis. It is used for process that helps to separates water into hydrogen and oxygen.

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