Portland, OR, Aug. 25, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global porous electrodes for electrolyzer market generated $26.2 million in 2020, and is projected to reach $345 million by 2030, witnessing a CAGR of 29.5% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Increase in concern about carbon emissions, decrease in costs of renewable energy, and reduced specific energy consumption for hydrogen production drive the growth of the global porous electrodes for electrolyzer market. However, limited technological advancements restrains the market to some extent. On the other hand, favorable government policies encouraging electric vehicles and technological advancements to improve energy efficiency present new opportunities in the upcoming years.
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COVID-19 scenario:
- Due to the outbreak of the COVID-19 pandemic, the world faced a troublesome situation and several countries were under strict lockdown, which led to shutdown of industries, halt in operations and procurements along restrictions on cross-border trade activities.
- The electric vehicles as well as water electrolysis market suffered a moderate blow, which affected the demand for porous electrodes for electrolyzers.
- The disruptions in supply chain and uncertainty in stock market due to cross border trade restrictions, hampered the imports of raw materials for the manufacturing of porous electrodes.
The report offers detailed segmentation of the global porus electrodes for electrolyzer market based on electrode material, electrolyzer type, and region.
Based on electrode material, the silver segment held the highest market share in 2020, holding more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, this segment is estimated to register the highest CAGR of 29.9% from 2021 to 2030. The report includes analysis on other segments such as titanium, nickel, and others.
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Based on electrolyzer type, the alkaline electrolyzer segment held the largest market share in 2020, holding nearly three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the PEM electrolyzer segment is projected to register the highest CAGR of 29.9% from 2021 to 2030.
Based on region, Europe contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the global porous electrodes for electrolyzer market, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 29.8% during the forecast period.
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Leading players of the global porous electrodes for electrolyzer market analyzed in the report include Air Liquide, Cocker Jingli Hydrogen, Cummins Inc, Enapter, Graphite India Limited, ITM Power, McPhy Energy, Nel Hydrogen, Plug Power, and Titanium Tantalum Products Limited.
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