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APAC Electrolyzer Market Value to Expand at Significant CAGR through 2026
Published Date: 2020-10-27
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According to the Graphical Research new growth forecast report titled “Asia Pacific Electrolyzer Market Share By Product (Alkaline Electrolyzer, PEM Electrolyzer, Solid Oxide Electrolyzer), By Capacity (< 500 kW, 500 kW – 2 MW, Above 2 MW), By Application (Power Generation, Transportation, Industry Energy, Industry Feedstock, Building Heating & Power), Industry Analysis Report, Country Outlook (China, Japan, India, Australia), Price Trends, Competitive Market Share & Forecast, 2020 – 2026”, to Expand at Significant CAGR through 2026.
Asia Pacific Electrolyzer Market size will witness growth on account of rising investments toward sustainable energy technologies and ongoing government policies to strengthen the power networks. Wide scale utilization as an industrial feedstock coupled with regulatory initiatives for development of hydrogen infrastructure will stimulate the product deployment. In addition, upgradation of transmission & distribution networks in line with surging electricity demand will augment the business landscape.
Shifting consumer inclination toward adoption of sustainable energy technologies to limit sulfur content and carbon emission will accelerate the industry potential. Ongoing government electrification programs along with increasing proportion of renewable power resources will further augment the business landscape. Moreover, rising urbanization rate across the emerging economies coupled with rapid expansion of hydrogen refueling networks will boost the industry potential.
Stringent government norms to adopt less carbon emission vehicles along with increasing demand for FCEV’s automobiles will drive the PEM electrolyzer market share. Paradigm shift toward expansion of hydrogen generation capacity along with decreasing overall product cost will further fuel the product deployment. Furthermore, increasing applicability across chemical, mining, glass, food & beverage and semiconductor industry will complement the business outlook.
Above 2 MW capacity electrolyzer industry is anticipated to grow on account of increasing demand for large capacity hydrogen production systems and flourishing industrial sector. In addition, wide adoption of these units across the chemical industry for processing chemicals will favor the business scenario. Stringent regulatory norms toward emission reduction coupled with focused R&D activities will further positively sway the industry potential.
Favorable government policies encouraging the usage of hydrogen as an energy carter along with growing consumer focus toward reliable power will stimulate the Australia electroloyzer market. Moreover, development of efficient and smart establishments coupled with shifting trends toward generation of power from fossil fuels will amplify the business landscape. Growing investments toward large scale on-site hydrogen production for renewable energy storage, grid balancing & power to gas stations and hydrogen refueling stations will further escalate the industry dynamics.
Prominent players operating across Asia Pacific market consists of Toshiba, Siemens, ITM Power, Acta, Next Hydrogen, Air Liquide, Hydrogenics, Green Hydrogen, Kobelco Eco-solutions, and Proton Onsit. The companies are focusing toward new product development in line with acquisitions and mergers to enhance their industry presence.