Green Hydrogen Electrolyzers Market: Current Analysis and Forecast (2022-2028)
Emphasis on Grade (Rutile and Anatase); Process (Sulfate and Chloride); Application (Paints & Coatings, Plastics, Paper & Pulp, Cosmetics, and Others); and Region/Country
The global Green Hydrogen Electrolyzers Market is expected to grow at a significant rate of 16% during the forecast period. Green hydrogen is the production of hydrogen by water electrolysis, so the electricity is sourced from zero-carbon (renewable) energies. Electrolysis is the process of utilizing electricity to split water into hydrogen and oxygen. The different processes used for hydrogen production include traditional alkaline electrolysis, solid oxide, and PEM electrolysis. The technical and economic advantages of hydrogen electrolyzer include producing pure hydrogen, and producing hydrogen on-site, and is expected to be a low-cost method for producing highly efficient hydrogen during the foreseeable future.
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, and Siemens AG.
Insights Presented in the Report
“Amongst technology, PEM electrolyzer category to witness robust CAGR during the forecast period”
Based on the technology, the green hydrogen electrolyzer market is segmented into Alkaline electrolyzers, PEM electrolyzers, and SO electrolyzers. The PEM electrolyzer captured a substantial share of the global green hydrogen electrolyzer market. It is mainly owing to its high current densities, compact system design, and rapid response toward current fluctuations. The ongoing adoption of various policies and norms by developing nations to increase the share of renewables in the overall energy mix is set to boost product adoption. Moreover, growing electricity demand along with the increasing deployment of green hydrogen generation methods will further facilitate business growth. However, the introduction of government policies to promote clean energy sources along with shifting consumer focus toward the reduction of carbon footprints will favor the alkaline electrolyzer.
“Amongst application, power generation category to witness robust CAGR during the forecast period”
Based on application, the green hydrogen electrolyzer market is segmented into power generation, transportation, industry energy, industry feedstock, building heating & power, and others. The power generation segment caters considerable market share. It is mainly owing to an increasing proportion of renewables coupled with increasing infrastructural investments across the commercial sector and the growing need for energy imports that will energize the industry dynamics. In addition, surging investments in the development of technologies for the desulfurization of petroleum products along with the upgrade & expansion of refineries to comply with clean energy targets will augment the market demand for hydrogen electrolyzers.
“Europe to hold a significant share in the market”
Europe is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the de-carbonization strategy of the European Commission which is part of the EU Green deal and includes the latest push of the region for wider adoption of low-carbon technologies including clean hydrogen. The European Commission is setting up a “Hydrogen Energy Network” with the help of an informal group of experts composed of representatives from the ministries who oversee energy policies in the EU member states. The “hydrogen Initiative” declaration has been signed by 28 countries promoting the usage of sustainable hydrogen technologies. This aims to accelerate the H2 technologies market in energy and transport.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Green Hydrogen Electrolyzers market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Green Hydrogen Electrolyzers Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Green Hydrogen Electrolyzers market were the three major steps undertaken to create and analyze the adoption of Green Hydrogen Electrolyzers in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Green Hydrogen Electrolyzers market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Green Hydrogen Electrolyzers market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Green Hydrogen Electrolyzers market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as technology, capacity, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Green Hydrogen Electrolyzers market. Further, we conducted factor analysis using dependent and independent variables such as various technology, capacity, and application. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Green Hydrogen Electrolyzers market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Green Hydrogen Electrolyzers market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Green Hydrogen Electrolyzers market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Green Hydrogen Electrolyzers market in terms of the product offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Green Hydrogen Electrolyzers market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of technology, capacity, and application in the global Green Hydrogen Electrolyzers market.
The main objective of the Global Green Hydrogen Electrolyzers Market Study
The current & future market trends of the global Green Hydrogen Electrolyzers market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Green Hydrogen Electrolyzers market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type of technology, capacity, and application.
- Define and analysis of the regulatory framework for the Green Hydrogen Electrolyzers
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Green Hydrogen Electrolyzers market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Green Hydrogen Electrolyzers market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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