Electrolyzers Market Share

On the basis of geographical analysis, the global electrolyzers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Europe is estimated to hold largest revenue share by 2036, on the back of increasing demand for hydrogen as a fuel from the automotive industry, and several initiatives from the government to encourage decarbonizing. In addition, growing electricity demand is also expected to drive the region’s market growth in the coming years. As per the data provided by Eurostat, the total electricity generation in the European Union was 2,780 TWh in 2019. More than half (56.4 %) of the net electricity generated in the EU in 2019 came from non-combustible primary sources. Moreover, the market in North America is assessed to acquire the largest share, which can be credited to the high usage of hydrogen in industries namely, refining, petrochemicals, fertilizers and glass purification, and strong presence of market players in the region.