Vancouver, Nov. 21, 2023 (GLOBE NEWSWIRE) — The global hydrogen electrolyzer market size is expected to reach USD 3901.7 Million in 2032 and register a steady revenue CAGR of 24.2% over the forecast period, according to the latest analysis by Emergen Research. Rising government initiative to promote hydrogen production is another major factor driving the market revenue growth. Electrolysis stands as a prominent method for hydrogen production, aligning with the goal of the Hydrogen Energy Earthshot initiative. The aim is to reduce the cost of clean hydrogen by 80%, bringing it down to USD 1 per kilogram within a decade. Hydrogen generated through electrolysis has the potential to yield no greenhouse gas emissions, contingent upon origin of the electricity utilized. It is crucial to account for various aspects related to the electricity source, such as its cost, efficiency, and emissions stemming from electricity generation when assessing the advantages and economic feasibility of electrolysis-based hydrogen production.
(GlobeNewsWire)