Electrolysis Stack Market Size

Electrolysis Stack Market size was over USD 538.8 Million in 2023 and is set to cross USD 25.89 Billion by the end of 2036, witnessing more than 34.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of electrolysis stack is estimated at USD 707.07 Million. The growth of the market can primarily be ascribed to the surging demand for hydrogen to produce green fuels across the globe, followed by the increase in carbon dioxide emissions. Furthermore, hydrogen is a clean fuel that does not consist of any harmful chemicals that have a bad impact on the environment, and it is predicted to increase the growth of the global electrolysis stack market. As per the estimated data, the demand for hydrogen around the world has increased to nearly 94 million metric tons in the year 2021.

Moreover, there has been an increasing prediction that the demand for energy will rise in the coming years. In addition, there has been surging development of energy efficient solutions that is expected to decrease the emission of carbon dioxide, and solve the issue related to the renewable energy sources intermittence. According to the International Energy Agency, the global energy demand is expected to rise by 40 percent from 2016 to 2040.