PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1516123
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1516123
North America Small Capacity Electrolyzer Market size is estimated to grow at 27.8% CAGR between 2024 and 2032, driven by the increasing focus on renewable energy sources, particularly hydrogen, for decarbonization efforts. The rollout of government initiatives and incentives is promoting the development of hydrogen infrastructure and adoption of clean energy.
Significant advancements in electrolyzer technologies, such as PEM and alkaline electrolyzers are enhancing efficiency and reliability, further driving their adoption. The rising investments in electrolysis projects and partnerships between industry stakeholders are also pushing the regional industry growth. For instance, in March 2024, Ohio-based Power to Hydrogen (P2H2), a U.S. startup supported by Shell, Amazon, and NASA, introduced the first-ever industrial-scale anion-exchange-membrane (AEM) electrolyzer stack for producing low-cost green hydrogen at scale.
The overall market is segregated into product, capacity, application, and country.
Based on product, the North America small capacity electrolyzer industry from the solid oxide segment is anticipated to grow at notable rate between 2024 and 2032 due to their efficiency and suitability for various applications, including power-to-gas and industrial processes. Solid oxide electrolyzers offer exceptional durability and operate at high temperatures for enabling efficient hydrogen production. The advancements in solid oxide electrolyzer technology will also provide enhanced performance and reliability.
In terms of application, the North America small capacity electrolyzer market from the industry feedstock segment is projected to grow at substantial rate through 2032. This is due to the increasing demand for green hydrogen as a sustainable feedstock in industries like chemicals, refineries, and manufacturing. The launch of government incentives is promoting clean energy and decarbonization initiatives. Rapid advancements in electrolyzer technologies coupled with the growing need for reducing carbon emissions in industrial processes are also boosting the segment growth.
Canada small capacity electrolyzer industry size is predicted to witness substantial gains between 2024 and 2032, attributed to the increasing investments in renewable energy projects, particularly hydrogen production. Government initiatives are promoting clean energy and carbon reduction goals in the region. Rapid advancements in electrolyzer technology and partnerships between industry stakeholders are accelerating the appeal of these electrolyzers. The rising demand for green hydrogen as a sustainable energy source and feedstock in various industries is boosting the regional market expansion.