Market Research Report
Electrolyzers: Water Electrolysis Units for Industry, Transportation and Energy Storage
|Published by||Navigant Research||Product code||830770|
|Published||Content info||36 Pages; 32 Tables, Charts & Figures
Delivery time: 1-2 business days
|Electrolyzers: Water Electrolysis Units for Industry, Transportation and Energy Storage|
|Published: May 1, 2019||Content info: 36 Pages; 32 Tables, Charts & Figures||
The process of water electrolysis, which extracts hydrogen by running an electric current through water, is growing in popularity as green hydrogen (hydrogen produced with renewable electricity) is becoming more prevalent in the hydrogen space. To date, as much as 95% of all hydrogen has been produced using fossil fuels. Manufacturers are scaling up their electrolyzer offerings, and double-digit megawatt projects are being built.
Only 1%-4% of hydrogen is produced with electrolyzers in 2019. However, with greater emphasis on decarbonization, increasing renewables integration, and decreasing capital costs of electrolyzers, Navigant Research expects significant growth in the electrolyzer market. While most hydrogen is used in the industrial sector, significant growth is expected in the mobility sector, due to expansion in the fuel cell vehicle market, and in the hydrogen storage segment. One of the strongest drivers will be in the variability of renewables, primarily wind and solar PV. As grid operators aim to balance the grid during periods of surplus electricity from renewables, this electricity can be used in electrolysis to produce hydrogen for seasonal storage.
This Navigant Research report analyzes the global market for electrolyzers based on geographic region and hydrogen end-use. The study provides an analysis of current market issues, opportunities, drivers, and key market players regarding electrolyzers. Global market forecasts for capacity and revenue extend through 2028. The report also examines end-use segments broken down into industry, mobility, and storage.