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North America Small Capacity Electrolyzer Market Size

Report ID: GMI8893
Published Date: Apr 2024
Report Format: PDF

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North America Small Capacity Electrolyzer Market

North America Small Capacity Electrolyzer Market size was valued at USD 2.2 Million in 2023 and is anticipated to grow at a CAGR of 27.8% from 2024 to 2032. An electrolyzer is a device used to split water (H₂O) into its constituent elements, hydrogen (H₂) and oxygen (O₂), through the process of electrolysis. It typically operates at lower production rates compared to industrial-scale electrolyzers and is designed for smaller-scale applications or experimental purposes.

North America Small Capacity Electrolyzer Market

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Growing emphasis on transitioning to clean and renewable energy sources to mitigate climate change along with efforts to meet targets to reduce greenhouse gas emissions will drive the market growth. For instance, Colorado updated its statutory targets in 2023, which aims to reduce 26% of greenhouse gas emissions by 2025 and 100% by 2050. Moreover, technological advancements in electrolyzer design and materials to improve efficiency, performance, and cost-effectiveness will sway the business statistics.

North America Small Capacity Electrolyzer Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Small Capacity Electrolyzer Market Size in 2023:	USD 2.2 Million
Forecast Period:	2024 - 2032
2032 Value Projection:	USD 20.3 Million
Historical Data for:	2019 to 2023
No. of Pages:	100
Tables, Charts & Figures:	150
Segments covered:	Product, Capacity, Application and Region
Growth Drivers:	Transition toward clean energy alternatives Increasing hydrogen demand Favorable private and public-sector measures
Pitfalls & Challenges:	Lack of infrastructure

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

North America small capacity electrolyzer market size reached USD 2.2 million in 2023 and is set to expand at 27.8% CAGR till 2032, driven by growing emphasis on transitioning to clean and renewable energy sources to mitigate climate change.

North America alkaline small capacity electrolyzer market held a decent share in 2023 and is projected exceed USD 0.5 million by 2032, driven by lower capital costs combined with advanced product developments.

U.S. small capacity electrolyzer industry held a decent share in 2023 and is set to grow at over USD 51 million by 2032, driven by growing government support for green hydrogen infrastructure and electrolyzer deployment.

Bloom Energy, Cipher Neutron, Giner Inc., Green Hydrogen Systems, h2e Power, ITM Power PLC, LARSEN & TOUBRO LIMITED, McPhy Energy S.A., Plug Power Inc. among others.