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North America Small Capacity Electrolyzer Market Trends

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

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North America Small Capacity Electrolyzer Market Trends

Growing consumer focus in green hydrogen as a clean energy carrier along with shifting trends toward decentralized and distributed energy systems will enable local production, storage, and utilization of energy resources will foster the industry trends. Ongoing government implementation of supportive policies, incentives, and regulations to promote the adoption of renewable energy and hydrogen technologies will strengthen the product demand. For instance, in 2022, federal government in the U.S. announced critical incentives under the Inflation Reduction Act which comprises of a credit to fund manufacturing projects.

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.