According to the research 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, global hydrogen electrolyzer market is expected to register an appreciable growth rate through 2026.
 

Global hydrogen electrolyzer market growth is largely fueled by uptick in demand for high efficiently energy storage systems with a minimal footprint to handle electricity generated from wind, solar, and hydropower generation units.
 

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Rising establishments of renewable power generation units globally, along with increasing investments by companies in sustainable technologies are further adding momentum to the industry expansion, claims the study.
 

Based on product type, global hydrogen electrolyzer market is fragmented into alkaline electrolyzer, proton exchange membrane electrolyzer, and solud oxide electrolyzer, among which, the foremost segment currently leads the industry growth.
 

Alkaline electrolyzer functions on the principle of transmission of hydroxide ions through the electrolyte. The ions are transmitted from the cathode to the anode, simultaneously triggering the production of hydrogen on the cathode. These electrolyzer utilize sodium or potassium hydroxide based liquid alkaline solution as an electrolyte.
 

In terms of application scope, global hydrogen electrolyzer industry is divided into energy storage, power plants, power to gas, industrial gases, and others. Among these, power plants currently holds a considerable industry share and will likely showcase a strong growth curve in the upcoming years.
 

Considering the regional outlook, North America (United States, Canada), Europe (Germany, United Kingdom, France, Italy), and Asia Pacific (India, Australia, Japan, China) are the key contributors to the overall hydrogen electrolyzer industry remuneration.
 

Expert analysts claim that North America market is slated to record notable hike in the upcoming years, attributable to large scale government investments towards boosting renewable energy production units and decreasing reliance on electricity generated from coal-powered stations.
 

Prominent players in global hydrogen electrolyzer industry sphere are Loop Energy Inc., Green Hydrogen, Ergosup, Areva H2Gen (acquired by GTT), Giner Inc., Plug Power Inc., ITM Power plc, McPhy Energy SAS, Cummins Inc., and Nel ASA.