IDTechEx Forecasts Material Innovation to Drive the Water Electrolyzer Market
BOSTON, Dec. 11, 2023 /PRNewswire/ -- In an era marked by a global shift towards sustainable energy solutions, the hydrogen industry is at the forefront of this transformative wave. Green hydrogen, produced through water electrolysis-powered renewable energy, stands out as a key solution for decarbonizing sectors where direct electrification remains a challenge. This pivot is an essential step towards reducing emissions in heavy industries, such as petroleum refining, and transportation sectors like maritime shipping. Governments and companies worldwide are now setting ambitious targets to ramp up green hydrogen production, highlighting its potential to enhance energy security and unlock new market opportunities.
- At the core of the green hydrogen surge is the continuous innovation in electrolyzer technology.
- IDTechEx's new report, " Materials for Green Hydrogen Production 2024-2034: Technologies, Players, Forecasts ", delves into the current and prospective materials and components utilized in the four main water electrolyzer technologies.
- The electrolyzer component market is poised for significant expansion, with IDTechEx's projections estimating its market value to reach an impressive US$31.7 billion by 2034.
- In the new report " Materials for Green Hydrogen Production 2024-2034: Technologies, Players, Forecasts " by IDTechEx, a thorough analysis is presented on the current and future materials and components used in the four principal water electrolyzer technologies: alkaline water electrolyzer (AWE), proton exchange membrane electrolyzer (PEMEL), anion exchange membrane electrolyzer (AEMEL), and solid oxide electrolyzer (SOEC).