Selbyville, Delaware Market Study Report LLC has added a new report on Electrolyzer market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Electrolyzer market in tandem with its competitive terrain.
With rapid urbanization, ongoing development of renewable energy technologies, and rising investments toward hydrogen infrastructure, the electrolyzer market is slated to record significant gains over the forthcoming timeframe.
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Electrolysis of water is basically the decomposition of water into hydrogen and oxygen. This is achieved be passing an electric current through water. An electrolyzer is an equipment which utilizes electrical energy to break water into oxygen and hydrogen. The hydrogen can further be stored for being used later as fuel in a fuel cell vehicle for power to gas applications or to power a stationery-based fuel cell system.
Subsequently, just like fuel cells, electrolyzers comprise of a cathode and an anode which is detached by an electrolyte. Different types of electrolyzers function in different ways, majorly because of the diverse kind of electrolyte material involved. The electrolyzers market is forecast to register tremendous gains over the coming years because of the several advantages of using an electrolyzer.
In comparison to gas supplied in high-pressure cylinders, using electrolyzers is considered as one of the cheaper methods. The method can also be produced during the time of its use or directly at the location, besides it not even necessary to store it. Additionally, the hydrogen formed is also very pure.
The electrolyzer market is bifurcated in terms of product, capacity, application, and regional landscape.
In terms of application, the overall electrolyzer market is categorized into building heating & power, industry feedstock, transportation, power generation, and others. Among these, the power generation segment will witness substantial growth as increasing demand for electricity along with shifting trends toward sustainable power generation sources will positively influence the product adoption.
Growing demand for energy on account of expanding industrial base along with increasing power demand will propel the business outlook for the industry energy segment. Building heating & power segment is slated to witness remunerative growth over the coming years. Increasing investments toward sustainable heating technologies along with rapid urban area development, primarily across developing nations, will boost the industry growth.
From a regional frame of reference, apart from Asia-Pacific, Europe, and North America, the rest of the world will also witness tremendous growth owing to the ongoing development of sustainable energy technologies and the rapidly increasing investments toward hydrogen infrastructure.
Major strides in the field of electrolysis are being taken across the globe. Citing an example, in South Africa, the members Anglo American and Plug Power of FCHEA (Fuel Cell and Hydrogen Energy Association) are developing hydrogen systems mainly for a fuel cell-driven heavy-duty mining truck. Nel, another member of FCHEA would be supplying a 3.5 MW electrolyzer which is solar powered for producing hydrogen for the heavy-duty truck.
Scope of the Report
- The report analyses the Electrolyzer market By Value.
- The report analyses the Electrolyzer market by Product Type.
- The report assesses the Electrolyzer market by Application Type.
- The Global Electrolyzer Market has been analysed by Region (North America, Europe, Asia Pacific) and by Country (United States, Canada, Germany, Italy, France, United Kingdom, India, China, Japan, South Korea)
- Also, the attractiveness of the market has been presented by region, product type. Also, the trends, drivers and challenges of the industry has been analysed in the report.
- The report presents the analysis of Electrolyzer market for the historical period of 2015-2019 and the forecast period of 2020-2026.
Full Report Summary At: https://www.marketstudyreport.com/reports/electrolyzer-market
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