NEWARK, Del, Sept. 13, 2023 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI) report, growth in the United States hydrogen electrolyzers market is anticipated to escalate between 2023 and 2033 at a CAGR of 23.8%. By 2033, its value is projected to be over US$ 790.8 Million. In 2023, the market is likely to surpass a valuation of about US$ 93.2 Million.
A device known as a hydrogen-producing electrolyzer produces hydrogen through the chemical process of electrolysis. It has the electrical ability to split hydrogen and oxygen molecules apart.
Hydrogen is produced sustainably using a hydrogen electrolyzer. There is no discharge of carbon dioxide into the atmosphere. As a result, the economy can become decarbonized, and the market can develop.
In the United States, the hydrogen electrolyzer sector is a rapidly developing industry. The necessity to reduce carbon emissions and the expanding demand for sustainable energy sources are its main driving forces.
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Electrolyzers are devices that use electricity to turn freshwater into oxygen and hydrogen, offering a clean and renewable energy source. Hydrogen can be produced by electrolysis and used as a fuel for power plants, transportation, and industrial processes.
Other factors that are boosting demand for hydrogen electrolyzers in the United States include legislative initiatives to reduce carbon emissions and increased financial support for renewable energy sources. If new, more efficient electrolyzer technologies were created, the market would thrive.
Increasing demand for hydrogen electrolyzers is mostly being driven by government initiatives to reduce carbon emissions. The USA government is implementing laws and regulations to encourage the use of renewable energy sources such as hydrogen fuel. For instance, the General Services Administration (GSA) of the United States has said that by 2025, it will only use renewable energy sources for its portfolio of federal real estate.
Key Takeaways from the United States Hydrogen Electrolyzer Market Study:
- Based on product type, the PEM electrolyzer segment is anticipated to generate a share of around 45% from 2023 to 2033.
- In 2023, top 2 regions across the United States are projected to hold a considerable share of about 70.0%.
- The United States hydrogen electrolyzer industry is anticipated to broaden 8.7x from 2023 to 2033.
- During the forecast period, the United States hydrogen electrolyzer industry is anticipated to expand at a CAGR of 23.8%.
- In 2023, value of the United States hydrogen electrolyzer industry is set to be US$ 93.2 Million.
“Primary end users of hydrogen electrolyzers are power generation, chemical, and petrochemical industries. These industries are looking for high-performance solutions that are reasonably priced, have a long lifespan, and need little upkeep.” – Says a lead analyst.
Competitive Landscape: United States Hydrogen Electrolyzer Market
The hydrogen electrolyzer market in the United States has a fair amount of consolidation. Due to increasing number of startups in the chemical and refining industries, both domestic and foreign businesses in the market face intense rivalry.
Hydro-processing in refineries has been using more hydrogen recently, and this is projected to provide manufacturers with favorable growth prospects. Opportunities are also expected to surge as the number of vehicles powered by hydrogen expands in the transportation sector.
For instance,
- Bloom Energy and LSB Industries Inc. announced in May 2022 that it would be constructing a new manufacturing facility in Oklahoma, United States. The company wants to create solid oxide electrolyzers with the development of its new facility.
Key Companies Profiled:
- ABB Ltd.
- Bloom Energy
- Nel Hydrogen
- Air Liquide
- Plug Power Inc.
- Giner Inc.
- Ballard Power Systems
- ITM Power Plc
- Siemens AG
- Tianjin Mainland Hydrogen Equipment Co. Ltd
- Gaztransport & Technigaz
- Pure Energy Centre
- Idroenergy
- Erredue SpA
- Swiss Hydrogen SA
- Shandong Saikesaisi Hydrogen Energy Co., Ltd.
- Next Hydrogen
Find More Valuable Insights into the United States Hydrogen Electrolyzer Market:
The research report analyzes the market demand trends of hydrogen electrolyzers in the United States. The market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of hydrogen electrolyzers.
As per Future Market Insights (FMI) research scope, the USA hydrogen electrolyzer market has been studied and segmented on the basis of product type (polymer electrolyte membrane electrolyzer, alkaline electrolyzer, solid oxide electrolyzer), capacity (low, medium, high), outlet pressure (low, medium, high), end-use industry (ammonia, methanol, refining/ hydrocarbon processing, electronics, energy, power to gas, transport, metal production & fabrication, pharma & biotech, food & beverages, glass industry), and region (West, Midwest, South, Northeast).
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The industrial automation division of Future Market Insights (FMI) research offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
USA Hydrogen Electrolyzer Market Segmentation:
By Product Type:
- Polymer Electrolyte Membrane (PEM) Electrolyzer
- Alkaline Electrolyzer
- Solid Oxide Electrolyzer
By Capacity:
- Low (<= 150 kW)
- Medium (150kW to 1mW)
- 150 to 400 kW
- 400 to 750kW
- 750 to 1mW
- High (> 1mW)
- 150 to 400 kW
- 400 to 750kW
- 750 to 1mW
By Outlet Pressure:
- Low (≤10 bar)
- Medium (10 bar to 40 bar)
- High (≥ 40 bar)
By End-use Industry:
- Ammonia
- Methanol
- Refinery/Hydrocarbon Processing
- Electronics
- Energy
- Power to Gas
- Transport
- Metal Production & Fabrication
- Pharma & Biotech
- Food & Beverages
- Glass Industry
- Others
By Region:
- West USA
- Midwest USA
- Northeast USA
- South USA
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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