The global electrolyzer market is anticipated to grow at a considerable CAGR of 22.7% during the forecast period. Increasing demand for Hydrogen for various applications is boosting the global electrolyzer market growth. Hydrogen gas is a highly proficient, clean-burning fuel mainly used to produce chemicals such as ammonia and methanol. Ammonia (NH3) is an essential part of fertilizers used in agriculture industries. Ammonia is a basic building block for ammonium nitrate fertilizer, which releases nitrogen, an essential nutrient for growing plants, including farm crops and lawns. As per the news published by the American Chemical Society (ACS Publications and C&EN), between 75% to 90% of the ammonia produced across the globe is used in fertilizer. Additionally, around 50% of the global food production relies on ammonia fertilizer, to sustain food production for billions of people. Ammonia is also used to purify water supplies and as a building block in the manufacturing of several products such as plastics, explosives, fabrics, pesticides, and dyes. Thus, such factors have accelerated the trading activities for ammonia owing to the rising demand and several benefits associated. According to the Observatory of Economic Complexity, in 2020, the top importers of ammonia were India ($1.4 billion), the US ($781 million), South Korea ($412 million), Morocco ($328 million), and Brazil ($322 million), which shows the increasing demand for ammonia across the globe.
Browse the full report description of “Electrolyzer Market Size, Share & Trends Analysis Report by Type (Traditional Alkaline Electrolyzer and Polymer Electrolyte Membrane (PEM) Electrolyzer), and by Application (Power Generation, Transportation, Industry Energy, Industry Feedstock, Building Heat & Power, and Others) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/electrolyzer-market
In addition, hydrogen is also used in the hydrocracking process to produce gasoline, diesel, and other petroleum products in the petroleum industry for different uses. Newly commercialized hydrogen applications, such as fuel cells, are opening new opportunities for transportation and other energy-related industries. For instance, in June 2021, the Indian manufacturer of Liquified Natural Gas (LNG), Air Products India announced to add of grey, blue, and green hydrogen solutions to address significant energy and environmental challenges. The gas has already been utilized as a fuel for cooling power plant generators and provides a promising means for electrical grid stabilization. Hydrogen and fuel cells can provide energy for use in diverse applications, including distributed or combined-heat-and-power, backup power, portable power, systems for storing and enabling renewable energy, and several others, hence further bolstering the demand for the electrolyzer market.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including Nel ASA, Asahi Kasei Corp., Shandong Saikesaisi Hydrogen Energy Co., Ltd., Teledyne Energy Systems, Inc., Siemens AG, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Electrolyzer Market Report Segment
By Type
By Application
Global Electrolyzer Market Report Segment by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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