The global hydrogen electrolyzer market size at a CAGR of over 8% during the forecast period
NEW YORK, July 1, 2019 /PRNewswire/ --
Global Hydrogen Electrolyzers Market: About this market
Hydrogen electrolyzers are used to generate hydrogen by breaking water into oxygen and hydrogen using electricity. Our hydrogen electrolyzer market analysis considers the sales of alkaline hydrogen electrolyzers and PEM hydrogen electrolyzers. Our analysis also considers the sales of hydrogen electrolyzers in the Americas, APAC, and EMEA. In 2018, the alkaline segment had a significant share, and this trend is expected to continue over the forecast period. Factors such as stable operating environment will play a vital role in the alkaline segment to maintain its market position. Also, our global hydrogen electrolyzer market looks at factors such as integration of renewables with hydrogen electrolyzers, growing adoption of fuel-cell-powered vehicles, and rising demand for hydrogen electrolyzers from the industrial sector. However, competition from alternate technologies of hydrogen production, high cost of hydrogen production using electrolyzers, and infrastructure challenges associated with hydrogen refueling facilities may hamper the growth of the hydrogen electrolyzers industry over the forecast period.
Read the full report: https://www.reportlinker.com/p05791397/?utm_source=PRN
Global Hydrogen Electrolyzers Market: Overview
Growing adoption of fuel cell-powered vehicles
Fuel cell technology is gaining popularity in the automotive sector and is being widely adopted by several EV and material handling equipment manufacturers. Unlike conventional batteries, fuel cell systems do not contain harmful materials. With the growth in the adoption of fuel cell vehicles, the demand for on-site hydrogen generation will increase. This is expected to accelerate the growth of the global hydrogen electrolyzer market size at a CAGR of over 8% during the forecast period.
Rising usage of fuel cells in the stationary power sector
Fuel cells have no moving parts, have a higher energy density and, thus require less maintenance and space. Moreover, they are not affected by changing weather conditions and provides reliable energy. The growing need for reliable power supplies in developed countries is expected to increase the adoption of fuel cells in the stationary power sector.
For the detailed list of factors that will drive the global hydrogen electrolyzer market size during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of a few players, the global hydrogen electrolyzer market is concentrated. Our robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several hydrogen electrolyzers manufacturers, that include Hydrogenics Corp., ITM Power Plc, McPhy Energy SA, Nel ASA, and Siemens AG.
Also, the hydrogen electrolyzer market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all future growth opportunities.
Read the full report: https://www.reportlinker.com/p05791397/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001
View original content:http://www.prnewswire.com/news-releases/the-global-hydrogen-electrolyzer-market-size-at-a-cagr-of-over-8-during-the-forecast-period-300878707.html
SOURCE Reportlinker
