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Electrolyzer Market Size
- Report ID: GMI4787
- Published Date: May 2023
- Report Format: PDF
Electrolyzer Market Size
Electrolyzer Market size surpassed USD 2.8 billion in 2022 and is anticipated to expand at a staggering CAGR of 24.5% from 2023 to 2032 owing to the increasing focus toward environmental-friendly power generation solutions in line with the rising electricity demand.
Rising deployments of clean hydrogen generation methods will boost the business scenario. The rising consumer shift toward environmental security coupled with the large-scale integration of renewables will sway the industry trend. Significant measures and laws to reduce carbon emissions along with the introduction of various projects by government authorities will boost the industry growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Electrolyzer Market Size in 2022: | USD 2.8 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 24.5% |
| 2032 Value Projection: | USD 78 Billion |
| Historical Data for: | 2019 to 2021 |
| No. of Pages: | 350 |
| Tables, Charts & Figures: | 512 |
| Segments covered: | Product, Capacity, Application, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Growing electricity demand across various industrial and commercial facilities along with an increasing focus on alternative power sources will augment the electrolyzer market landscape. Lack of appropriate infrastructure along with high initial investment are some of the challenges obstructing the business growth. However, favorable government policies, incentives, and norms for probable infrastructure growth and growing consumer inclination toward the acceptance of sustainable energy sources will foster the industry trends.
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Electrolyzer Market Scope
