Electrolyzer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global electrolyzer market reached a value of US$ 421 Million in 2021. Looking forward, the publisher expects the market to reach US$ 732 Million by 2027, exhibiting a CAGR of 9.45% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor

An electrolyzer is a system that relies on electricity for carbon-free hydrogen production using renewable and nuclear resources. It comprises pumps, vents, storage tanks, separators, and other components. It is nowadays gaining traction around the world for generating electricity with zero emissions compared to fossil fuels that release harmful gases in the environment. At present, it is available in a wide range of sizes and functions, ranging from small industrial plants installed in shipping containers to large-scale centralized production facilities that can deliver hydrogen via trucks.

Electrolyzer Market Trends:

Due to rising environmental concerns among individuals and increasing awareness about the harmful impact of burning fossil fuels, there is a significant rise in the demand for clean fuels across the globe. This can also be attributed to stringent policies implemented by governing authorities of numerous countries to control greenhouse gas (GHG) emissions from the automotive industry. Besides this, there is an increase in the adoption of electrolyzers to power hydrogen fuel cell electric trains, buses, trucks, and other vehicles. Moreover, rising sales of electric vehicles (EVs) are driving the demand for hydrogen refueling stations and electrolyzers. Apart from this, they are used to supply industrial gas in the steel industry, flat glass plants, and semi-conductor applications. They are also utilized in natural gas grids to lower carbon heating and refineries to remove sulfur from fossil fuels. Furthermore, electrolyzers find applications in the production of green chemicals, such as methanol, fertilizers, ammonia, and liquid jet fuel. Besides this, the increasing adoption of wind and solar panels for electricity generation is projected to offer lucrative growth opportunities to market players operating in the industry.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global electrolyzer market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, capacity and application.

Breakup by Product:

Alkaline Electrolyzer
PEM Electrolyzer
Solid Oxide Electrolyzer

Breakup by Capacity:

Less than 500 kW
500 kW to 2 MW
Above 2 MW

Breakup by Application:

Power Generation
Transportation
Industry Energy
Industry Feedstock
Building Heat and Power
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Air Liquide S.A., Air Products and Chemicals Inc., Asahi Kasei Corporation, Cummins Inc., ITM Power plc, Linde plc, McPhy Energy S.A., Nel ASA, Plug Power Inc., Siemens AG, Titanium Tantalum Products Limited and Toshiba Corporation.

Key Questions Answered in this Report:

How has the global electrolyzer market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global electrolyzer market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the capacity?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global electrolyzer market and who are the key players?
What is the degree of competition in the industry?

Frequently Asked Questions about the Global Electrolyzer Market

What is the estimated value of the Global Electrolyzer Market?

The Global Electrolyzer Market was estimated to be valued at $421 Million in 2021.

What is the growth rate of the Global Electrolyzer Market?

The growth rate of the Global Electrolyzer Market is 9.6%, with an estimated value of $732 Million by 2027.

What is the forecasted size of the Global Electrolyzer Market?

The Global Electrolyzer Market is estimated to be worth $732 Million by 2027.

Who are the key companies in the Global Electrolyzer Market?

Key companies in the Global Electrolyzer Market include Air Liquide S.A., Air Products, Chemicals Inc., Asahi Kasei Corporation, Cummins Inc., ITM Power plc, Linde plc, McPhy Energy S.A. and Plug Power Inc..

Report Attribute	Details
No. of Pages	143
Published	February 2022
Forecast Period	2021 - 2027
Estimated Market Value ( USD ) in 2021	$ 421 Million
Forecasted Market Value ( USD ) by 2027	$ 732 Million
Compound Annual Growth Rate	9.6%
Regions Covered	Global
No. of Companies Mentioned	13

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

4.1 Overview
4.2 Key Industry Trends

5 Global Electrolyzer Market

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Product

6.1 Alkaline Electrolyzer
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 PEM Electrolyzer
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Solid Oxide Electrolyzer
6.3.1 Market Trends
6.3.2 Market Forecast

7 Market Breakup by Capacity

7.1 Less than 500 kW
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 500 kW to 2 MW
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Above 2 MW
7.3.1 Market Trends
7.3.2 Market Forecast

8 Market Breakup by Application

8.1 Power Generation
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Transportation
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Industry Energy
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Industry Feedstock
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Building Heat and Power
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast

9 Market Breakup by Region

9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast

10 SWOT Analysis

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Air Liquide S.A.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Air Products and Chemicals Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Asahi Kasei Corporation
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 Cummins Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 ITM Power plc
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Linde plc
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.7 McPhy Energy S.A.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.8 Nel ASA
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.9 Plug Power Inc.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.10 Siemens AG
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Titanium Tantalum Products Limited
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Toshiba Corporation
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis

List of Figures

Figure 1: Global: Electrolyzer Market: Major Drivers and Challenges
Figure 2: Global: Electrolyzer Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Electrolyzer Market: Breakup by Product (in %), 2021
Figure 5: Global: Electrolyzer Market: Breakup by Capacity (in %), 2021
Figure 6: Global: Electrolyzer Market: Breakup by Application (in %), 2021
Figure 7: Global: Electrolyzer Market: Breakup by Region (in %), 2021
Figure 8: Global: Electrolyzer (Alkaline Electrolyzer) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Electrolyzer (Alkaline Electrolyzer) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Electrolyzer (PEM Electrolyzer) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Electrolyzer (PEM Electrolyzer) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Electrolyzer (Solid Oxide Electrolyzer) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Electrolyzer (Solid Oxide Electrolyzer) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Electrolyzer (Less than 500 kW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Electrolyzer (Less than 500 kW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Electrolyzer (500 kW to 2 MW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Electrolyzer (500 kW to 2 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Electrolyzer (Above 2 MW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Electrolyzer (Above 2 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Electrolyzer (Power Generation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Electrolyzer (Power Generation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Electrolyzer (Transportation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Electrolyzer (Transportation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Electrolyzer (Industry Energy) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Electrolyzer (Industry Energy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Electrolyzer (Industry Feedstock) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Electrolyzer (Industry Feedstock) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Electrolyzer (Building Heat and Power) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Electrolyzer (Building Heat and Power) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Electrolyzer (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Electrolyzer (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: North America: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: North America: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: United States: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: United States: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Canada: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Canada: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Asia-Pacific: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Asia-Pacific: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: China: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: China: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Japan: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Japan: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: India: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: India: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: South Korea: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: South Korea: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Australia: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Australia: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Indonesia: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Indonesia: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Others: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Others: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Europe: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Europe: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Germany: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Germany: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: France: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: France: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: United Kingdom: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: United Kingdom: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Italy: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Italy: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Spain: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Spain: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Russia: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Russia: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Latin America: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Latin America: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Brazil: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Brazil: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Mexico: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Mexico: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Others: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Others: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Middle East and Africa: Electrolyzer Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Middle East and Africa: Electrolyzer Market: Breakup by Country (in %), 2021
Figure 80: Middle East and Africa: Electrolyzer Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Global: Electrolyzer Industry: SWOT Analysis
Figure 82: Global: Electrolyzer Industry: Value Chain Analysis
Figure 83: Global: Electrolyzer Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Electrolyzer Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Electrolyzer Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 3: Global: Electrolyzer Market Forecast: Breakup by Capacity (in Million US$), 2022-2027
Table 4: Global: Electrolyzer Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Electrolyzer Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Electrolyzer Market: Competitive Structure
Table 7: Global: Electrolyzer Market: Key Players