According to the report titled ‘Global Hydrogen Electrolyzer Market (Value, Volume) - Analysis By Product, Application, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with Market Study Report LLC, global hydrogen electrolyzer market  is anticipated to record notable gains during 2021-2026.
 

As per the report findings, global hydrogen electrolyzer market growth is fueled by rising demand for highly efficient and low space utilizing energy storage systems to manage electricity produced from wind, solar, and hydropower generation units.
 

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In addition, establishments of many renewable power generation plants across the world, alongside increasing investments by several organizations for the development of sustainable technologies are further augmenting industry outlook.
 

Based on product, the market is bifurcated into alkaline electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer. The alkaline electrolyzer segment is slated to witness rapid expansion over the forecast period. These electrolyzers use sodium or potassium hydroxide based aqueous alkaline solution as an electrolyte and are supplied by major companies like Tianjin Mainland Hydrogen Equipment Co. Ltd.
 

The segmentation of global hydrogen electrolyzer market based on application spectrum includes power plants, industrial gases, energy storage, power to gas, and others. The power plants segment holds a considerable market share presently, owing to wide adoption of electrolyzers in automotive industry for fuel cell electric vehicles as hydrogen is capable of storing large amount of energy and release it when required for industrial use.
 

Regionally speaking, North America is currently leading the market forecast, accreditable to government investments to facilitate renewable energy production in the region and minimize electricity production from coal powered stations.
 

Major players like Loop Energy, Inc., Green Hydrogen Systems, ERGOSUP, Areva H2Gen GmbH, Giner, Inc., Plug Power, Inc., ITM Power plc, McPhy Energy S.A., Hydrogenics Corporation, and Nel ASA are profiled in global hydrogen electrolyzer report.