Electrolysis Stack Market Segmentation:
Application Segment Analysis
The global electrolysis stack market is segmented and analyzed for demand and supply by application into transportation industry, power & energy storage, methanol production, refining industry, ammonia production, and others. Out of which, the transportation industry segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising adoption of hydrogen as a fuel for power vehicles, as a replacement for fuels that emit large amounts of carbon dioxide into the environment. Furthermore, there has been an increase in the percentage of carbon dioxide emissions, leading to harmful effects on the environment as well as humans. As per the data reported, the number of hydrogen fueled passenger car, buses vehicles on road accounted to nearly 26,000, and 5,500.
Moreover, the global electrolysis stack market is divided on the basis of product type into proton exchange membrane (PEM) electrolyzer, alkaline electrolyzer, solid oxide electrolyzer cell, and others}. Out of these, the proton exchange membrane (PEM) segment is expected to hold the largest share by the end of the year 2035. This can be attributed to the benefits attached to the PEM in relation to the most significant source of high-purity hydrogen as compared to the others that are used in energy storage, and chemical processes. Moreover, owing to its high efficiency, it is able to produce higher rate of hydrogen, and it is predicted to boost the segment’s growth in the market.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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