Hydrogen Electrolyzer Market report has been recently added by Value Market Research, this monitoring report establishes facts based on current scenarios, historical records of future forecast for 2020 to 2027. The Hydrogen Electrolyzer market was valued at USD 310.1 MN in 2020 and is predicted to grow. At a CAGR of over 6% during the forecast period. A hydrogen electrolyzer or simply electrolyzer is an assembly that uses electricity to break down water into hydrogen and oxygen. This occurs through an electrochemical reaction that does not require external components or moving parts. The assembly consists of an anode, a cathode, and an electrolyte. In this process, hydrogen is produced through electrolysis and then compressed and stored to power the engine during periods with high energy requirements. Electrolysis is reliable and can produce ultra-pure hydrogen (>99.999%) in a non-polluting manner when the power source is renewable. Hydrogen turns green by electrolysis. The electrolyzer produces very pure hydrogen at a much cheaper rate than the gas supplied in a high-pressure cylinder. It can be built directly on location, eliminating the need for storage.
Hydrogen generated from the electrolysis process is considered the green fuel of the future. Governments around the world are highly focused on creating sustainable hydrogen, for which electrolysers are expected to play a significant role in the coming years. The global hydrogen electrolyzer market is highly fragmented. Acta SpA, Ballard Power Systems, Hypersolar, Inc., ITM Power, Kingker Eco-Technologies Co., Ltd., Plug Power Inc., Proton Power Control Pvt Ltd, and Quantum Fuel Systems Technologies Worldwide, Inc. market. New companies are entering the hydrogen electrolyzer market through innovative product launches.
Market segmentation covered in the report:
By type
Polymer Electrolyte Membrane (PEM) Electrolyzerly
alkaline water electrolyzer
solid oxide electrolyzer
By application
chemicals
automobile
energy
Food and Beverages
Pharmaceutical and Biotechnology
Electronics
glass
other
By region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Source: https://www.valuemarketresearch.com/report/hydrogen-electrolyzer-market
Nishtha Sarabhai after working for three years in a Bank switched to writing to balance her work and home. She is a mother of two beautiful kids. She enjoys writing on Aerospace, Science and new invcentions. She has been with VMR news since its inception.