Europe, US & China Electrolyzer Market Research Report Forecast to 2030
The Europe, US & China Electrolyzer market is expected to grow at a CAGR of 20.15% over the forecast duration of 2023-2030. The Europe, US & China Electrolyzer market was valued at USD 1,260.4 million in 2022 and is expected to reach USD 5,122.7 million by 2030.
The rapidly increasing demand for hydrogen fuel cells in the current automobile market has helped the companies to record a considerable revenue over the period. The utilization of clean energy has become a recent trend which is foreseen to increase soon and hence emerges as a major growth factor for the market.
The increasing demand for better electric vehicles which can cover a longer range of distance will help the market to produce a considerable return over the period. The active support provided by the government to the key market players for the introduction of clean energy into the society has played a major role to boost the economy of electrolyzer market to a great extent.
Market SegmentationBased on this Product Type, the Europe, US & China electrolyzer market has been classified into Proton Exchange Membrane (PEM) Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer, and Anion Exchange Membrane (AEM).
Based on the components, the Europe, US & China electrolyzer market has been classified into Bipolar Plates, Stacks, and others.
Based on the application, the Europe, US & China electrolyzer market has been classified into Chemical/Refining Industry, Electronics, Energy, Transport, Metal Production & Fabrication, Pharma & Biotech, Food & Beverages, and others.
Country-wise Europe, US & China electrolyzer market has been divided into Germany, France, Spain, Italy, UK, US, and China. China held the largest market share of 21.19% in 2022 due to the high availability of raw materials, rapid industrialization, and commercialization in the region, especially with the growth of the consumer goods and automotive industry.
Major PlayersThe key market players are Siemens, H-Tec Systems Gmbh, Enapter, Hystar, Plug Power Inc, Cummins Inc, Dana Limited, and Elringklinger AG.