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Electrolyzer Market

FMI Unveils how the Adoption of Hydrogen Fuel Cell in the Automobiles Industry Increase the Demand for Electrolyzer. The Market Valuation is US$ 9.79 Bn in 2023

Electrolyzer Market By Type, Application, Capacity, End-User & Region – Forecast 2023–2033

Electrolyzer Market Outlook

The electrolyzer market is estimated to secure a progressive CAGR of 32.21% during the forecast period. According to FMI, the market is projected to be valued at US$ 159.74 Bn by 2033, up from US$ 9.79 Bn in 2023.

The market share of electrolyzers is expected to grow due to the increased development of innovative power solutions technologies and clean hydrogen production techniques. The growing environmental securities and large-scale renewable integration increased the demand for electrolyzers during the foreseen time.

The government initiatives plans and growing investment in renewable resources are increasing the market expansion in the coming years. On the other hand, rising industrial feedstock and developing hydrogen plants to reduce carbon emissions are estimated to increase the adoption of the electrolyzer.

Moreover, a decline in production cost and the launching of new products increase the demand for electrolyzers during the forecast period. The growing transportation sector and power plant industry are estimated to propel the market expansion during the foreseen time. The rising process of hydrocracking and the large consumption of electrolyzer boost the market share during the forecast period.

The demand for petroleum and related products by vehicle owners all over the globe has been surging the adoption of electrolyzers in recent years. In addition, the use of hydrogen to produce large-scale gasoline is growing the market during the forecast period.

The end-user industries, including oil refineries and chemicals, are accelerating huge demand for electrolyzers in recent years. The electricity grid and coal gasification uplift the market share. The rising Electric vehicles and other petroleum vehicles are rapidly growing with considerable revenue and are flourishing the market size during the forecast period.

Increasing demand for fuel-clean energy and rising awareness related to global warming is increasing the adoption of electrolyzers in recent years. The introduction of modern technologies, R&D activities, the presence of prominent vendors, and the growing production of hydrogen accelerated the market opportunities during the foreseen time. The rising fuel cell vehicles in the automobile sector and the increasing number of steel plants securing high revenue in the market in recent times.

The rising cost of electricity to process electrolyzers may decline the market growth during the forecast period. Consumption of economical alternatives to hydrogen fuel cells is another challenge that may limit the market growth.

Attributes

Details

Electrolyzer Market (2023)

US$ 9.79 Bn

Electrolyzer Market (2033)

US$ 159.74 Bn

Electrolyzer Market CAGR (2023-2033)

32.21%

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Global Electrolyzer Market Historical Analysis and Forecast Outlook

The growing industries such as power plants, automobiles, petroleum, steel plant, industrial gases, photovoltaics, and electronics are increasing the electrolyzer market size during the forecast period. However, the market for electrolyzer increased from US$ 7.40 Bn between 2018 and 2022 with an aggressive CAGR of 32.21%.

The adoption of innovative products and new advanced technologies are improving the market for electrolyzers during the forecast period. The presence of gasoline vehicles due to rowing the prices of petrol is accelerating the demand for electrolyzers in recent times.

  • Short Term (2022 to 2025): The rising power plants, electricity demand and generating electronic devices are accelerating the market size in this time frame.
  • Medium Term (2025 to 2028): The growing infrastructure and presence of prominent players are increasing the production of electrolyzers in the coming period.
  • Long Term (2028 to 2032): The innovation of electric vehicles contributed huge revenue in boosting the market during the forecast period.

The market valuation is US$ 159.74 Bn during the forecast period, with a CAGR of 32.21%.

Comparative View of Adjacent Global Electrolyzer Market

Electrolyzer Market:

Differentiating Aspects

Electrolyzer Market

CAGR

32.21%

Market Valuation in 2023

US$ 9.79 Bn

Projected Market Value in 2033

US$ 159.74 Bn

Driver

The growing transportation sector and power plant industry are estimated to propel the market expansion.

Opportunity

The government initiatives plans and growing investment in renewable resources are increasing the market opportunities.

Key Trend

Rising industrial feedstock and developing hydrogen plants to reduce carbon emissions are estimated to increase the adoption of the electrolyzer.

Hydrogen Electrolyzer Market:

Differentiating Aspects

Hydrogen Electrolyzer Market

CAGR

24.2%

Market Valuation in 2023

US$ 530 Mn

Projected Market Value in 2033

US$ 4.6 Bn

Driver

Increasing demand for green energy, surging investment and high carbon footprint.

Opportunity

The growing transportation sector and produced sustainable chemicals.

Key Trend

The rising infrastructure, clean energy, presence of key vendors and growing electric vehicles increase market trends.

PEM Water Electrolyzer Market:

Differentiating Aspects

PEM Water Electrolyzer Market

CAGR

42.2%

Market Valuation in 2023

US$ 10489.53 Bn

Projected Market Value in 2033

US$ 354610.83 Bn

Driver

The rising steel plants, power plants and electronics sector increase the PEM water electrolyzer.

Opportunity

The growing EV stations and rising investment increases the market opportunities.

Key Trend

The rising demand for generating electricity and hydrogen fueling infrastructure increases market trends.

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Nikhil Kaitwade
Principal Consultant
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Category-wise Insights

Which Segment to Remain Dominant in the Type Category in the Electrolyzer?

The alkaline electrolyzer segment dominates the global market due to holding a significant share of 59% during the forecast period. The potassium hydroxide, hydroxide ions, and electrodes are the alkaline electrolyte solutions used for nickel catalysts. The rising power plant and energy generators are increasing the adoption of alkaline electrolyzers during the forecast period.

The development of photovoltaics in the end-use industries is increasing the demand for alkaline electrolyzers during the foreseen period. The rising manufacturing of steel and production of electrolysis increases alkaline electrolyzer demand by manufacturers. On the other hand, the PEM segment is the second leading segment after the alkaline electrolyzer during the forecast period. It has been widely used in solar and wind energy and for hydrogen generators in recent times.

Which Category is Most Preferred in the Application Segment?

The power plant segment dominates the global market by occupying a significant share during the forecast period. Growing demand for energy and power by end-use industries such as steel plants, industrial gases, and electronics is increasing the adoption of power plants.

The growing production of fuel cells and rising consumer preferences among electric vehicles are increasing the power plant market size during the forecast period. The power generation equipment with hydrogen combined leads to producing a large amount of energy, accelerating the demand for power plants during the forecast period.

The use of hydrogen in steam turbines is likely to acquire maximum revenue in the market over the forecast period. On the other hand, the electronics and photovoltaics segments are contributing a significant share of the global market due to the rising demand for electrolysis. The growing steel demand and decarbonizing increased the market expansion during the forecast period.

Country-wise Insights

Growing Power Industry Dominates the US Electrolyzer Market

The US market for electrolyzers dominates the global market by capturing the highest number of shares during the forecast period. The rising manufacturing companies and power industry are accelerating the demand for electrolyzers in recent years. The growing infrastructure and rising consumption of power by end-users are increasing the US electrolyzers market growth during the forecast period.

The rapid investment, rising refineries, and hydrogen gas are improving the market size on a large scale during the forecast period. The presence of prominent vendors and launching new devices are expanding the market in the coming years.

Infrastructure Availability Performs Better Role in the UK Market Expansion

The UK capture is likely to have a significant share of the global market during the forecast period. Due to the rising automobile sector and rising power plant infrastructure surging the market growth during the forecast period. The rising investment companies and presence of key market players in the UK contribute a huge revenue during the forecast period. The rising demand for clean energy and the growing electronic sector is anticipated to build a major reason to raise the UK electrolyzer market share during the forecast period.

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Rising Electricity Demand Accelerates the Market in Asian Countries

The Asia Pacific is the fastest-growing region in the global market for electrolyzers during the forecast period. The rising demand for electricity for commercial use is increasing the market share in recent times. The countries such as Japan and Korea are the top-most leading in the region during the forecast period.

Asian Countries

Description

Japan

The rising government policies, urbanization, and renewable resources are expanding the Japan electrolyzer market size. In addition, the growing demand for electricity and high consumption of electrolyzers boosting the Japanese market in recent years. The prominent manufacturers, growing advanced technologies, and focus on power alternatives are increasing the market share.

Korea

The Korean nation secures a relevant share during the forecast period. The rising focus on renewable energy and the several government laws to reduce carbon emissions boost market expansion. The growing investment in the public and private sectors and focus on green hydrogen production are increasing the Korean electrolyzer market in recent years.

Start-up Ecosystems

How Start-up Companies are Improving the Market for Electrolyzer

Start-up companies are popping up all around the globe during the forecast period. A few of the top start-ups in the market for electrolyzer are as follows:

Start-ups SeeO2 Energy Inc
Founded Year 2018
Description

SeeO2 Energy Inc is a Canadian-based start-up founded in the year 2018. The start-up focused on CO2 (Converting Carbon Dioxide) by adopting fuel-cell technology for clean fuels and chemicals.

Start-ups Utility
Founded Year 2019
Description

Utility is a USA-based start-up company that provides the most affordable and reliable electrochemical power systems by adopting Oxide Ion Chip. The company uses sintering and printing technologies that enable terawatts. They are producing large-scale power plants with a low cost to drive consumers' attractions.

Start-ups EvolOH
Founded Year 2020
Description EvolOH is a USA-based start-up founded in 2020 that adopts electrolyzer technology that turns electrons into gas. The growing production of Green Hydrogen, feedstock, and clean fuel for sustainable industries. The start-up develops Green Hydrogen with the help of renewable energy and water electrolysis in recent times are growing the market heights.

These start-ups continue to shine in the global market during the foreseen time and achieve their goals.

Competitive Landscape

The number of prominent vendors is advancing the global market during the forecast period. These vendors play an essential role in the market by collecting better revenue during the forecast period. These players are focusing on the end-users requirements as per their demand in recent years.

These players are making several marketing strategies to acquire a maximum share during the foreseen time. The rising R&D activities and generating power through modern technologies uplift the market during the forecast period. Some of the marketing tactics adopted by these players include collaborations, partnerships, mergers, acquisitions, agreements, and product launches.

Recent Developments in the Electrolyzer are:

In Jan 2022, Logan Energy Company deals an agreement with Green Hydrogen Systems to provide electrolysis equipment in England. A container of 40 feet is likely to be utilized to form an electrolytic system in the coming period.

Some of the Key Companies in the Market are

  • Green Hydrogen
  • Linde Plc
  • NeL ASA,
  • Siemens Energy
  • Next Hydrogen
  • Suzhou Green Energy Co.
  • ITM Power PLC
  • Siemens Energy
  • Plug Power Inc
  • ErrDue Spa
  • Sunfire GnmH
  • Cockerill Jingli Hydrogen
  • Cummins Inc
  • Air Products Inc
  • Air Liquide
  • Others

Segmentation by Category in the Market for Electrolyzer

By Type:

  • Solid Oxide Electrolyzer
  • PEM Electrolyzer
  • Alkaline Electrolyzer

By Application:

  • Power Plant
  • Photovoltaics
  • Steel Plant
  • Electronics
  • Power to Gas
  • Energy Storage for Fuel Cells
  • Industrial Gases
  • Others

By Capacity:

  • 500 KW
  • 500KW - 2 MW
  • Above 2 MW

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

Frequently Asked Questions

The electrolyzer market valuation is at US$ 9.79 Bn.

The electrolyzer market is registering a CAGR of 32.21% during the forecast period.

North America holds the most opportunities in the electrolyzer market.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyer’s

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2018-2022 and Forecast, 2023-2033

    4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2018-2022

    4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2023-2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018-2022 and Forecast 2023-2033, By Product

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Product, 2018-2022

    5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Product, 2023-2033

        5.3.1. Alkaline

        5.3.2. PEM

        5.3.3. Solid Oxide

    5.4. Y-o-Y Growth Trend Analysis By Product, 2018-2022

    5.5. Absolute $ Opportunity Analysis By Product, 2023-2033

6. Global Market Analysis 2018-2022 and Forecast 2023-2033, By Capacity

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Capacity, 2018-2022

    6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Capacity, 2023-2033

        6.3.1. Less than 500 kW

        6.3.2. 500 kW to 2 MW

        6.3.3. Above 2 MW

    6.4. Y-o-Y Growth Trend Analysis By Capacity, 2018-2022

    6.5. Absolute $ Opportunity Analysis By Capacity, 2023-2033

7. Global Market Analysis 2018-2022 and Forecast 2023-2033, By Application

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Application, 2018-2022

    7.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Application, 2023-2033

        7.3.1. Power Generation

        7.3.2. Transportation

        7.3.3. Industry Energy

        7.3.4. Industry Feedstock

        7.3.5. Building Heat and Power

        7.3.6. Others

    7.4. Y-o-Y Growth Trend Analysis By Application, 2018-2022

    7.5. Absolute $ Opportunity Analysis By Application, 2023-2033

8. Global Market Analysis 2018-2022 and Forecast 2023-2033, By Region

    8.1. Introduction

    8.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2018-2022

    8.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2023-2033

        8.3.1. North America

        8.3.2. Latin America

        8.3.3. Europe

        8.3.4. Asia Pacific

        8.3.5. MEA

    8.4. Market Attractiveness Analysis By Region

9. North America Market Analysis 2018-2022 and Forecast 2023-2033, By Country

    9.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    9.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2023-2033

        9.2.1. By Country

            9.2.1.1. U.S.

            9.2.1.2. Canada

        9.2.2. By Product

        9.2.3. By Capacity

        9.2.4. By Application

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Product

        9.3.3. By Capacity

        9.3.4. By Application

    9.4. Key Takeaways

10. Latin America Market Analysis 2018-2022 and Forecast 2023-2033, By Country

    10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2023-2033

        10.2.1. By Country

            10.2.1.1. Brazil

            10.2.1.2. Mexico

            10.2.1.3. Rest of Latin America

        10.2.2. By Product

        10.2.3. By Capacity

        10.2.4. By Application

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Product

        10.3.3. By Capacity

        10.3.4. By Application

    10.4. Key Takeaways

11. Europe Market Analysis 2018-2022 and Forecast 2023-2033, By Country

    11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2023-2033

        11.2.1. By Country

            11.2.1.1. Germany

            11.2.1.2. U.K.

            11.2.1.3. France

            11.2.1.4. Spain

            11.2.1.5. Italy

            11.2.1.6. Rest of Europe

        11.2.2. By Product

        11.2.3. By Capacity

        11.2.4. By Application

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Product

        11.3.3. By Capacity

        11.3.4. By Application

    11.4. Key Takeaways

12. Asia Pacific Market Analysis 2018-2022 and Forecast 2023-2033, By Country

    12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2023-2033

        12.2.1. By Country

            12.2.1.1. China

            12.2.1.2. Japan

            12.2.1.3. South Korea

            12.2.1.4. Singapore

            12.2.1.5. Thailand

            12.2.1.6. Indonesia

            12.2.1.7. Australia

            12.2.1.8. New Zealand

            12.2.1.9. Rest of Asia Pacific

        12.2.2. By Product

        12.2.3. By Capacity

        12.2.4. By Application

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Product

        12.3.3. By Capacity

        12.3.4. By Application

    12.4. Key Takeaways

13. MEA Market Analysis 2018-2022 and Forecast 2023-2033, By Country

    13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2023-2033

        13.2.1. By Country

            13.2.1.1. GCC Countries

            13.2.1.2. South Africa

            13.2.1.3. Israel

            13.2.1.4. Rest of MEA

        13.2.2. By Product

        13.2.3. By Capacity

        13.2.4. By Application

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Product

        13.3.3. By Capacity

        13.3.4. By Application

    13.4. Key Takeaways

14. Key Countries Market Analysis

    14.1. U.S.

        14.1.1. Pricing Analysis

        14.1.2. Market Share Analysis, 2022

            14.1.2.1. By Product

            14.1.2.2. By Capacity

            14.1.2.3. By Application

    14.2. Canada

        14.2.1. Pricing Analysis

        14.2.2. Market Share Analysis, 2022

            14.2.2.1. By Product

            14.2.2.2. By Capacity

            14.2.2.3. By Application

    14.3. Brazil

        14.3.1. Pricing Analysis

        14.3.2. Market Share Analysis, 2022

            14.3.2.1. By Product

            14.3.2.2. By Capacity

            14.3.2.3. By Application

    14.4. Mexico

        14.4.1. Pricing Analysis

        14.4.2. Market Share Analysis, 2022

            14.4.2.1. By Product

            14.4.2.2. By Capacity

            14.4.2.3. By Application

    14.5. Germany

        14.5.1. Pricing Analysis

        14.5.2. Market Share Analysis, 2022

            14.5.2.1. By Product

            14.5.2.2. By Capacity

            14.5.2.3. By Application

    14.6. U.K.

        14.6.1. Pricing Analysis

        14.6.2. Market Share Analysis, 2022

            14.6.2.1. By Product

            14.6.2.2. By Capacity

            14.6.2.3. By Application

    14.7. France

        14.7.1. Pricing Analysis

        14.7.2. Market Share Analysis, 2022

            14.7.2.1. By Product

            14.7.2.2. By Capacity

            14.7.2.3. By Application

    14.8. Spain

        14.8.1. Pricing Analysis

        14.8.2. Market Share Analysis, 2022

            14.8.2.1. By Product

            14.8.2.2. By Capacity

            14.8.2.3. By Application

    14.9. Italy

        14.9.1. Pricing Analysis

        14.9.2. Market Share Analysis, 2022

            14.9.2.1. By Product

            14.9.2.2. By Capacity

            14.9.2.3. By Application

    14.10. China

        14.10.1. Pricing Analysis

        14.10.2. Market Share Analysis, 2022

            14.10.2.1. By Product

            14.10.2.2. By Capacity

            14.10.2.3. By Application

    14.11. Japan

        14.11.1. Pricing Analysis

        14.11.2. Market Share Analysis, 2022

            14.11.2.1. By Product

            14.11.2.2. By Capacity

            14.11.2.3. By Application

    14.12. South Korea

        14.12.1. Pricing Analysis

        14.12.2. Market Share Analysis, 2022

            14.12.2.1. By Product

            14.12.2.2. By Capacity

            14.12.2.3. By Application

    14.13. Singapore

        14.13.1. Pricing Analysis

        14.13.2. Market Share Analysis, 2022

            14.13.2.1. By Product

            14.13.2.2. By Capacity

            14.13.2.3. By Application

    14.14. Thailand

        14.14.1. Pricing Analysis

        14.14.2. Market Share Analysis, 2022

            14.14.2.1. By Product

            14.14.2.2. By Capacity

            14.14.2.3. By Application

    14.15. Indonesia

        14.15.1. Pricing Analysis

        14.15.2. Market Share Analysis, 2022

            14.15.2.1. By Product

            14.15.2.2. By Capacity

            14.15.2.3. By Application

    14.16. Australia

        14.16.1. Pricing Analysis

        14.16.2. Market Share Analysis, 2022

            14.16.2.1. By Product

            14.16.2.2. By Capacity

            14.16.2.3. By Application

    14.17. New Zealand

        14.17.1. Pricing Analysis

        14.17.2. Market Share Analysis, 2022

            14.17.2.1. By Product

            14.17.2.2. By Capacity

            14.17.2.3. By Application

    14.18. GCC Countries

        14.18.1. Pricing Analysis

        14.18.2. Market Share Analysis, 2022

            14.18.2.1. By Product

            14.18.2.2. By Capacity

            14.18.2.3. By Application

    14.19. South Africa

        14.19.1. Pricing Analysis

        14.19.2. Market Share Analysis, 2022

            14.19.2.1. By Product

            14.19.2.2. By Capacity

            14.19.2.3. By Application

    14.20. Israel

        14.20.1. Pricing Analysis

        14.20.2. Market Share Analysis, 2022

            14.20.2.1. By Product

            14.20.2.2. By Capacity

            14.20.2.3. By Application

15. Market Structure Analysis

    15.1. Competition Dashboard

    15.2. Competition Benchmarking

    15.3. Market Share Analysis of Top Players

        15.3.1. By Regional

        15.3.2. By Product

        15.3.3. By Capacity

        15.3.4. By Application

16. Competition Analysis

    16.1. Competition Deep Dive

        16.1.1. Air Liquide S.A.

            16.1.1.1. Overview

            16.1.1.2. Product Portfolio

            16.1.1.3. Profitability by Market Segments

            16.1.1.4. Sales Footprint

            16.1.1.5. Strategy Overview

                16.1.1.5.1. Marketing Strategy

                16.1.1.5.2. Product Strategy

                16.1.1.5.3. Channel Strategy

        16.1.2. Air Products and Chemicals Inc.

            16.1.2.1. Overview

            16.1.2.2. Product Portfolio

            16.1.2.3. Profitability by Market Segments

            16.1.2.4. Sales Footprint

            16.1.2.5. Strategy Overview

                16.1.2.5.1. Marketing Strategy

                16.1.2.5.2. Product Strategy

                16.1.2.5.3. Channel Strategy

        16.1.3. Asahi Kasei Corporation

            16.1.3.1. Overview

            16.1.3.2. Product Portfolio

            16.1.3.3. Profitability by Market Segments

            16.1.3.4. Sales Footprint

            16.1.3.5. Strategy Overview

                16.1.3.5.1. Marketing Strategy

                16.1.3.5.2. Product Strategy

                16.1.3.5.3. Channel Strategy

        16.1.4. Cummins Inc.

            16.1.4.1. Overview

            16.1.4.2. Product Portfolio

            16.1.4.3. Profitability by Market Segments

            16.1.4.4. Sales Footprint

            16.1.4.5. Strategy Overview

                16.1.4.5.1. Marketing Strategy

                16.1.4.5.2. Product Strategy

                16.1.4.5.3. Channel Strategy

        16.1.5. ITM Power plc

            16.1.5.1. Overview

            16.1.5.2. Product Portfolio

            16.1.5.3. Profitability by Market Segments

            16.1.5.4. Sales Footprint

            16.1.5.5. Strategy Overview

                16.1.5.5.1. Marketing Strategy

                16.1.5.5.2. Product Strategy

                16.1.5.5.3. Channel Strategy

        16.1.6. Linde plc

            16.1.6.1. Overview

            16.1.6.2. Product Portfolio

            16.1.6.3. Profitability by Market Segments

            16.1.6.4. Sales Footprint

            16.1.6.5. Strategy Overview

                16.1.6.5.1. Marketing Strategy

                16.1.6.5.2. Product Strategy

                16.1.6.5.3. Channel Strategy

        16.1.7. McPhy Energy S.A.

            16.1.7.1. Overview

            16.1.7.2. Product Portfolio

            16.1.7.3. Profitability by Market Segments

            16.1.7.4. Sales Footprint

            16.1.7.5. Strategy Overview

                16.1.7.5.1. Marketing Strategy

                16.1.7.5.2. Product Strategy

                16.1.7.5.3. Channel Strategy

        16.1.8. Nel ASA

            16.1.8.1. Overview

            16.1.8.2. Product Portfolio

            16.1.8.3. Profitability by Market Segments

            16.1.8.4. Sales Footprint

            16.1.8.5. Strategy Overview

                16.1.8.5.1. Marketing Strategy

                16.1.8.5.2. Product Strategy

                16.1.8.5.3. Channel Strategy

        16.1.9. Plug Power Inc.

            16.1.9.1. Overview

            16.1.9.2. Product Portfolio

            16.1.9.3. Profitability by Market Segments

            16.1.9.4. Sales Footprint

            16.1.9.5. Strategy Overview

                16.1.9.5.1. Marketing Strategy

                16.1.9.5.2. Product Strategy

                16.1.9.5.3. Channel Strategy

        16.1.10. Siemens AG

            16.1.10.1. Overview

            16.1.10.2. Product Portfolio

            16.1.10.3. Profitability by Market Segments

            16.1.10.4. Sales Footprint

            16.1.10.5. Strategy Overview

                16.1.10.5.1. Marketing Strategy

                16.1.10.5.2. Product Strategy

                16.1.10.5.3. Channel Strategy

17. Assumptions & Acronyms Used

18. Research Methodology

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List of Tables

Table 1: Global Market Value (US$ Mn) Forecast by Region, 2018-2033

Table 2: Global Market Volume (Units) Forecast by Region, 2018-2033

Table 3: Global Market Value (US$ Mn) Forecast by Product, 2018-2033

Table 4: Global Market Volume (Units) Forecast by Product, 2018-2033

Table 5: Global Market Value (US$ Mn) Forecast by Capacity, 2018-2033

Table 6: Global Market Volume (Units) Forecast by Capacity, 2018-2033

Table 7: Global Market Value (US$ Mn) Forecast by Application, 2018-2033

Table 8: Global Market Volume (Units) Forecast by Application, 2018-2033

Table 9: North America Market Value (US$ Mn) Forecast by Country, 2018-2033

Table 10: North America Market Volume (Units) Forecast by Country, 2018-2033

Table 11: North America Market Value (US$ Mn) Forecast by Product, 2018-2033

Table 12: North America Market Volume (Units) Forecast by Product, 2018-2033

Table 13: North America Market Value (US$ Mn) Forecast by Capacity, 2018-2033

Table 14: North America Market Volume (Units) Forecast by Capacity, 2018-2033

Table 15: North America Market Value (US$ Mn) Forecast by Application, 2018-2033

Table 16: North America Market Volume (Units) Forecast by Application, 2018-2033

Table 17: Latin America Market Value (US$ Mn) Forecast by Country, 2018-2033

Table 18: Latin America Market Volume (Units) Forecast by Country, 2018-2033

Table 19: Latin America Market Value (US$ Mn) Forecast by Product, 2018-2033

Table 20: Latin America Market Volume (Units) Forecast by Product, 2018-2033

Table 21: Latin America Market Value (US$ Mn) Forecast by Capacity, 2018-2033

Table 22: Latin America Market Volume (Units) Forecast by Capacity, 2018-2033

Table 23: Latin America Market Value (US$ Mn) Forecast by Application, 2018-2033

Table 24: Latin America Market Volume (Units) Forecast by Application, 2018-2033

Table 25: Europe Market Value (US$ Mn) Forecast by Country, 2018-2033

Table 26: Europe Market Volume (Units) Forecast by Country, 2018-2033

Table 27: Europe Market Value (US$ Mn) Forecast by Product, 2018-2033

Table 28: Europe Market Volume (Units) Forecast by Product, 2018-2033

Table 29: Europe Market Value (US$ Mn) Forecast by Capacity, 2018-2033

Table 30: Europe Market Volume (Units) Forecast by Capacity, 2018-2033

Table 31: Europe Market Value (US$ Mn) Forecast by Application, 2018-2033

Table 32: Europe Market Volume (Units) Forecast by Application, 2018-2033

Table 33: Asia Pacific Market Value (US$ Mn) Forecast by Country, 2018-2033

Table 34: Asia Pacific Market Volume (Units) Forecast by Country, 2018-2033

Table 35: Asia Pacific Market Value (US$ Mn) Forecast by Product, 2018-2033

Table 36: Asia Pacific Market Volume (Units) Forecast by Product, 2018-2033

Table 37: Asia Pacific Market Value (US$ Mn) Forecast by Capacity, 2018-2033

Table 38: Asia Pacific Market Volume (Units) Forecast by Capacity, 2018-2033

Table 39: Asia Pacific Market Value (US$ Mn) Forecast by Application, 2018-2033

Table 40: Asia Pacific Market Volume (Units) Forecast by Application, 2018-2033

Table 41: MEA Market Value (US$ Mn) Forecast by Country, 2018-2033

Table 42: MEA Market Volume (Units) Forecast by Country, 2018-2033

Table 43: MEA Market Value (US$ Mn) Forecast by Product, 2018-2033

Table 44: MEA Market Volume (Units) Forecast by Product, 2018-2033

Table 45: MEA Market Value (US$ Mn) Forecast by Capacity, 2018-2033

Table 46: MEA Market Volume (Units) Forecast by Capacity, 2018-2033

Table 47: MEA Market Value (US$ Mn) Forecast by Application, 2018-2033

Table 48: MEA Market Volume (Units) Forecast by Application, 2018-2033

Nikhil Kaitwade
Principal Consultant
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List of Charts

Figure 1: Global Market Value (US$ Mn) by Product, 2023-2033

Figure 2: Global Market Value (US$ Mn) by Capacity, 2023-2033

Figure 3: Global Market Value (US$ Mn) by Application, 2023-2033

Figure 4: Global Market Value (US$ Mn) by Region, 2023-2033

Figure 5: Global Market Value (US$ Mn) Analysis by Region, 2018-2033

Figure 6: Global Market Volume (Units) Analysis by Region, 2018-2033

Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2023-2033

Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2023-2033

Figure 9: Global Market Value (US$ Mn) Analysis by Product, 2018-2033

Figure 10: Global Market Volume (Units) Analysis by Product, 2018-2033

Figure 11: Global Market Value Share (%) and BPS Analysis by Product, 2023-2033

Figure 12: Global Market Y-o-Y Growth (%) Projections by Product, 2023-2033

Figure 13: Global Market Value (US$ Mn) Analysis by Capacity, 2018-2033

Figure 14: Global Market Volume (Units) Analysis by Capacity, 2018-2033

Figure 15: Global Market Value Share (%) and BPS Analysis by Capacity, 2023-2033

Figure 16: Global Market Y-o-Y Growth (%) Projections by Capacity, 2023-2033

Figure 17: Global Market Value (US$ Mn) Analysis by Application, 2018-2033

Figure 18: Global Market Volume (Units) Analysis by Application, 2018-2033

Figure 19: Global Market Value Share (%) and BPS Analysis by Application, 2023-2033

Figure 20: Global Market Y-o-Y Growth (%) Projections by Application, 2023-2033

Figure 21: Global Market Attractiveness by Product, 2023-2033

Figure 22: Global Market Attractiveness by Capacity, 2023-2033

Figure 23: Global Market Attractiveness by Application, 2023-2033

Figure 24: Global Market Attractiveness by Region, 2023-2033

Figure 25: North America Market Value (US$ Mn) by Product, 2023-2033

Figure 26: North America Market Value (US$ Mn) by Capacity, 2023-2033

Figure 27: North America Market Value (US$ Mn) by Application, 2023-2033

Figure 28: North America Market Value (US$ Mn) by Country, 2023-2033

Figure 29: North America Market Value (US$ Mn) Analysis by Country, 2018-2033

Figure 30: North America Market Volume (Units) Analysis by Country, 2018-2033

Figure 31: North America Market Value Share (%) and BPS Analysis by Country, 2023-2033

Figure 32: North America Market Y-o-Y Growth (%) Projections by Country, 2023-2033

Figure 33: North America Market Value (US$ Mn) Analysis by Product, 2018-2033

Figure 34: North America Market Volume (Units) Analysis by Product, 2018-2033

Figure 35: North America Market Value Share (%) and BPS Analysis by Product, 2023-2033

Figure 36: North America Market Y-o-Y Growth (%) Projections by Product, 2023-2033

Figure 37: North America Market Value (US$ Mn) Analysis by Capacity, 2018-2033

Figure 38: North America Market Volume (Units) Analysis by Capacity, 2018-2033

Figure 39: North America Market Value Share (%) and BPS Analysis by Capacity, 2023-2033

Figure 40: North America Market Y-o-Y Growth (%) Projections by Capacity, 2023-2033

Figure 41: North America Market Value (US$ Mn) Analysis by Application, 2018-2033

Figure 42: North America Market Volume (Units) Analysis by Application, 2018-2033

Figure 43: North America Market Value Share (%) and BPS Analysis by Application, 2023-2033

Figure 44: North America Market Y-o-Y Growth (%) Projections by Application, 2023-2033

Figure 45: North America Market Attractiveness by Product, 2023-2033

Figure 46: North America Market Attractiveness by Capacity, 2023-2033

Figure 47: North America Market Attractiveness by Application, 2023-2033

Figure 48: North America Market Attractiveness by Country, 2023-2033

Figure 49: Latin America Market Value (US$ Mn) by Product, 2023-2033

Figure 50: Latin America Market Value (US$ Mn) by Capacity, 2023-2033

Figure 51: Latin America Market Value (US$ Mn) by Application, 2023-2033

Figure 52: Latin America Market Value (US$ Mn) by Country, 2023-2033

Figure 53: Latin America Market Value (US$ Mn) Analysis by Country, 2018-2033

Figure 54: Latin America Market Volume (Units) Analysis by Country, 2018-2033

Figure 55: Latin America Market Value Share (%) and BPS Analysis by Country, 2023-2033

Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023-2033

Figure 57: Latin America Market Value (US$ Mn) Analysis by Product, 2018-2033

Figure 58: Latin America Market Volume (Units) Analysis by Product, 2018-2033

Figure 59: Latin America Market Value Share (%) and BPS Analysis by Product, 2023-2033

Figure 60: Latin America Market Y-o-Y Growth (%) Projections by Product, 2023-2033

Figure 61: Latin America Market Value (US$ Mn) Analysis by Capacity, 2018-2033

Figure 62: Latin America Market Volume (Units) Analysis by Capacity, 2018-2033

Figure 63: Latin America Market Value Share (%) and BPS Analysis by Capacity, 2023-2033

Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Capacity, 2023-2033

Figure 65: Latin America Market Value (US$ Mn) Analysis by Application, 2018-2033

Figure 66: Latin America Market Volume (Units) Analysis by Application, 2018-2033

Figure 67: Latin America Market Value Share (%) and BPS Analysis by Application, 2023-2033

Figure 68: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023-2033

Figure 69: Latin America Market Attractiveness by Product, 2023-2033

Figure 70: Latin America Market Attractiveness by Capacity, 2023-2033

Figure 71: Latin America Market Attractiveness by Application, 2023-2033

Figure 72: Latin America Market Attractiveness by Country, 2023-2033

Figure 73: Europe Market Value (US$ Mn) by Product, 2023-2033

Figure 74: Europe Market Value (US$ Mn) by Capacity, 2023-2033

Figure 75: Europe Market Value (US$ Mn) by Application, 2023-2033

Figure 76: Europe Market Value (US$ Mn) by Country, 2023-2033

Figure 77: Europe Market Value (US$ Mn) Analysis by Country, 2018-2033

Figure 78: Europe Market Volume (Units) Analysis by Country, 2018-2033

Figure 79: Europe Market Value Share (%) and BPS Analysis by Country, 2023-2033

Figure 80: Europe Market Y-o-Y Growth (%) Projections by Country, 2023-2033

Figure 81: Europe Market Value (US$ Mn) Analysis by Product, 2018-2033

Figure 82: Europe Market Volume (Units) Analysis by Product, 2018-2033

Figure 83: Europe Market Value Share (%) and BPS Analysis by Product, 2023-2033

Figure 84: Europe Market Y-o-Y Growth (%) Projections by Product, 2023-2033

Figure 85: Europe Market Value (US$ Mn) Analysis by Capacity, 2018-2033

Figure 86: Europe Market Volume (Units) Analysis by Capacity, 2018-2033

Figure 87: Europe Market Value Share (%) and BPS Analysis by Capacity, 2023-2033

Figure 88: Europe Market Y-o-Y Growth (%) Projections by Capacity, 2023-2033

Figure 89: Europe Market Value (US$ Mn) Analysis by Application, 2018-2033

Figure 90: Europe Market Volume (Units) Analysis by Application, 2018-2033

Figure 91: Europe Market Value Share (%) and BPS Analysis by Application, 2023-2033

Figure 92: Europe Market Y-o-Y Growth (%) Projections by Application, 2023-2033

Figure 93: Europe Market Attractiveness by Product, 2023-2033

Figure 94: Europe Market Attractiveness by Capacity, 2023-2033

Figure 95: Europe Market Attractiveness by Application, 2023-2033

Figure 96: Europe Market Attractiveness by Country, 2023-2033

Figure 97: Asia Pacific Market Value (US$ Mn) by Product, 2023-2033

Figure 98: Asia Pacific Market Value (US$ Mn) by Capacity, 2023-2033

Figure 99: Asia Pacific Market Value (US$ Mn) by Application, 2023-2033

Figure 100: Asia Pacific Market Value (US$ Mn) by Country, 2023-2033

Figure 101: Asia Pacific Market Value (US$ Mn) Analysis by Country, 2018-2033

Figure 102: Asia Pacific Market Volume (Units) Analysis by Country, 2018-2033

Figure 103: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023-2033

Figure 104: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023-2033

Figure 105: Asia Pacific Market Value (US$ Mn) Analysis by Product, 2018-2033

Figure 106: Asia Pacific Market Volume (Units) Analysis by Product, 2018-2033

Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Product, 2023-2033

Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Product, 2023-2033

Figure 109: Asia Pacific Market Value (US$ Mn) Analysis by Capacity, 2018-2033

Figure 110: Asia Pacific Market Volume (Units) Analysis by Capacity, 2018-2033

Figure 111: Asia Pacific Market Value Share (%) and BPS Analysis by Capacity, 2023-2033

Figure 112: Asia Pacific Market Y-o-Y Growth (%) Projections by Capacity, 2023-2033

Figure 113: Asia Pacific Market Value (US$ Mn) Analysis by Application, 2018-2033

Figure 114: Asia Pacific Market Volume (Units) Analysis by Application, 2018-2033

Figure 115: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2023-2033

Figure 116: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2023-2033

Figure 117: Asia Pacific Market Attractiveness by Product, 2023-2033

Figure 118: Asia Pacific Market Attractiveness by Capacity, 2023-2033

Figure 119: Asia Pacific Market Attractiveness by Application, 2023-2033

Figure 120: Asia Pacific Market Attractiveness by Country, 2023-2033

Figure 121: MEA Market Value (US$ Mn) by Product, 2023-2033

Figure 122: MEA Market Value (US$ Mn) by Capacity, 2023-2033

Figure 123: MEA Market Value (US$ Mn) by Application, 2023-2033

Figure 124: MEA Market Value (US$ Mn) by Country, 2023-2033

Figure 125: MEA Market Value (US$ Mn) Analysis by Country, 2018-2033

Figure 126: MEA Market Volume (Units) Analysis by Country, 2018-2033

Figure 127: MEA Market Value Share (%) and BPS Analysis by Country, 2023-2033

Figure 128: MEA Market Y-o-Y Growth (%) Projections by Country, 2023-2033

Figure 129: MEA Market Value (US$ Mn) Analysis by Product, 2018-2033

Figure 130: MEA Market Volume (Units) Analysis by Product, 2018-2033

Figure 131: MEA Market Value Share (%) and BPS Analysis by Product, 2023-2033

Figure 132: MEA Market Y-o-Y Growth (%) Projections by Product, 2023-2033

Figure 133: MEA Market Value (US$ Mn) Analysis by Capacity, 2018-2033

Figure 134: MEA Market Volume (Units) Analysis by Capacity, 2018-2033

Figure 135: MEA Market Value Share (%) and BPS Analysis by Capacity, 2023-2033

Figure 136: MEA Market Y-o-Y Growth (%) Projections by Capacity, 2023-2033

Figure 137: MEA Market Value (US$ Mn) Analysis by Application, 2018-2033

Figure 138: MEA Market Volume (Units) Analysis by Application, 2018-2033

Figure 139: MEA Market Value Share (%) and BPS Analysis by Application, 2023-2033

Figure 140: MEA Market Y-o-Y Growth (%) Projections by Application, 2023-2033

Figure 141: MEA Market Attractiveness by Product, 2023-2033

Figure 142: MEA Market Attractiveness by Capacity, 2023-2033

Figure 143: MEA Market Attractiveness by Application, 2023-2033

Figure 144: MEA Market Attractiveness by Country, 2023-2033

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