Electrolysis Stack Market Share

North American Market Forecast   

North America industry is estimated to hold largest revenue share of 40% by 2037. The growth of market can be ascribed to the surging demand for hydrogen for various applications in countries such as Canada, and the U.S.A. Moreover, there has a been rising awareness among the government and the people to use hydrogen to fuel zero-emission vehicles, is further projected to increase the growth of the market in the region. In addition, the demand for hydrogen fuel cell vehicles has increased in the region, that is further expected to surge the market’s growth in the region. As per the estimates, there are more than 14,000 hydrogen powered vehicles in the United States on the road, and nearly all are present in California.

Europe Market Forecast

On the other hand, the Europe region is predicted to witness a large growth over the forecast period, backed by the growing popularity of green fertilizers for sustainable farming practices. Furthermore, there has been a surge in awareness among the enterprises leading to demand for electrolysis processes for the production of hydrogen, that can be used as a fuel. Hence, it is expected to drive the market’s growth in the Europe region in the upcoming years.