Japan Hydrogen Electrolyzer Market

Japan region of hydrogen electrolyzer market is valued at US$ 2,651.32 thousand in 2019 and is estimated to grow at a CAGR of 21% over the forecast period to reach a US$ 37,435.68 thousand by 2029

Japan is growing at a faster pace for the hydrogen electrolyzer market owing to rising government funding and support for the development of hydrogen technology and hydrogen production projects to support the clean and green economy

For instance, in 2019, as per the Ministry of Trade, Economy and industry, Japanese industries and the Japanese government have allocated around US$ 748 million for the projects related to hydrogen technology to support the clean economy in the country

Further demand for the hydrogen electrolyzer in Japan is driven by a surge in the commercial project with rising funding from the government for the development of emerging and innovative technologies for hydrogen related research and pilot projects

These projects are supported by several leading organizations and companies in Japan, which includes Japan Oil, Gas and Metals, New Energy and Industrial Technology Development Organization (NEDO) and National Corporation (JOGMEC), etc. 

Further several private financial banks and government banks in Japan are also providing support for the development of the hydrogen electrolyzer and hydrogen-related technologies in the country. For instance, in July 2019, NEXI launched 'Loan Insurance for Green Innovation, which is applied for the projects related to hydrogen-related technologies and provides an increased commercial risk coverage rate by up to 97.5%. It may create massive demand for the growth of the hydrogen electrolyzer market in this country

Further increasing installation of the hydrogen electrolyzer plants in Japan due to lack of presence of fossil fuels and growing demand for cleaners and green energy has created a massive demand for the hydrogen electrolyzer market in this country. For instance, on 20th April 2020, one of the largest ‘single-stack’ green hydrogen electrolyzer with a 10MW project has started in Fukushima, Japan

Further increasing installation of the hydrogen electrolyzer plants in Japan due to lack of fossil fuels and growing demand for clean and green energy has created a massive demand for the growth of the hydrogen electrolyzer market in this country. For instance, on 20th April 2020, one of the largest ‘single-stack’ green hydrogen electrolyzer with a 10MW project has started in Fukushima, Japan

Further on 17th April 2017, Hitachi Zosen Corporation has provided a Hydro Spring hydrogen generation system which utilizes a solid polymer electrolyzer with a capacity of around 24 Nm3 /h for Toyota Motor Kyushu’s Miyata Plant in Japan. This project has lifted the hydrogen generation capacity to support fuel cell-powered forklifts using hydrogen in the industry. It created a massive demand for the hydrogen electrolyzer market in Japan

Also, increasing demand for hydrogen with the growing adoption of fuel cell vehicles by the Japanese has impelled the demand for the hydrogen electrolyzers market. For instance, as of 5th March 2018, Japan has around 101 hydrogen stations, which serves around 40,000 fuel-cell vehicles and is projected to increase 80,000 vehicles by 2030 whereas the total target to establish hydrogen stations reached about 160 stations by 2020 and about 320 stations by 2025. It created a massive demand for the hydrogen electrolyzer in the country

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