Global Electrolyzers Market by Technology (Alkaline, Proton Exchange Membrane (PEM), Solid Oxide Electrolyzer, AEM), Application (Energy, Mobility, Industrial, Grid Injection), Power Rating (2,000 kW), Region

Anion Exchange Membrane Technology Segment to be Fastest-Growing Market from 2023 to 2028

The global electrolyzers market is estimated to grow from USD 0.5 billion in 2023 to USD 57.2 billion by 2030; it is expected to record a CAGR of 97.7% during the forecast period. Growing investments in hydrogen-related infrastructure and projects from both the public and private sectors contribute to the growth of the electrolyzers industry. These investments accelerate the adoption and commercialization of electrolyzer technology. Government subsidies and regulatory frameworks aimed at promoting clean energy technologies further drive the growth of electrolyzers market.

Alkaline Electrolyzers: The largest segment of the electrolyzers market, by technology

Based on Technology, the electrolyzers market has been segmented into alkaline electrolyzers (AE), proton exchange membrane (PEM), solid oxide electrolyzers (SOE), and anion exchange membrane (AEM). The alkaline electrolyzers segment is expected to be the largest segment during the forecast period. Alkaline electrolyzers are experiencing growth as it among the established and commercially proven electrolysis technologies. Hydrogen is being investigated as a clean energy source by industries such as chemicals, refineries, and transportation. Alkaline electrolyzers are crucial in supplying hydrogen to these industries to reduce carbon emissions. According to industry experts, the energy efficiency of devices based on alkaline electrolyzer technology ranges between 55 and 60 percent and is highly dependent on electrolyzer capacity and hydrogen delivery pressure.

By Power Rating, < 500 kW segment is expected to be the fastest growing segment during the forecast period

Based on the Power Rating, the electrolyzers market is segmented into < 500 kW, 500 - 2,000 kW, and >2,000 kW. The < 500 kW segment is expected to be the fastest growing segment of the electrolyzers market during the forecast period. Smaller capacity electrolyzers provide a solution for local energy production in places where grid connection is limited or inconsistent. They enable on-site hydrogen generation, minimising reliance on centralised energy sources. Electrolyzers with power rating < 500 kW and 500 - 2,000 kW is also mostly utilized for grid injection, and power generation applications.

Asia-Pacific is expected to be the second largest growing region in the electrolyzers market

Asia Pacific is expected to be the second largest region in the electrolyzers market during the forecast period. Asia Pacific is one of the rapid growing economic region in the world with highest population in the world. Asia Pacific has the highest greenhouse gas emission in the world. To overcome such issues, Asia Pacific adopted green technology to efficiently meet the growing energy needs and reduce GHG emissions which presents opportunities for the electrolyzers. For example, The India Energy Storage Alliance’s (IESA) MIGHT (Mobility and Infrastructure with Green Hydrogen Technologies) initiative aims to investigate options for India to utilize the potential of green hydrogen technologies for green energy acceleration and clean transportation uptake.

Breakdown of Primaries

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:

By Company Type: Tier 1 - 60%, Tier 2 - 25%, and Tier 3 - 15%
By Designation: C-Level - 35%, Director Level - 25%, and Others - 40%
By Region: North America - 25%, Europe - 25%, Asia Pacific - 30%, Rest of the World - 20%

Note: Others include sales managers, engineers, and regional managers
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The electrolyzers market is dominated by a few major players that have a wide regional presence. The leading players in the electrolyzers market are thyssenkrupp nucera (Germany), John Cockerill (Belgium), Nel ASA (Norway), Plug Power Inc. (US), and Siemens Energy (Germany). The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.

Research Coverage

The report defines, describes, and forecasts the global electrolyzers market by, source, technology, generation and delivery mode, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the electrolyzers market.

Key Benefits of Buying the Report

Government initiatives at the national and international levels amplify the impact of investment on the electrolyzer market. Robust policy frameworks, often accompanied by financial incentives, subsidies, and regulatory support, encourage widespread adoption of electrolyzers for green hydrogen production. Factors such as high initial cost and lack of infrastructure restrain the growth of the market. The growing energy transition towards renewable energy sources and rapid urbanization are expected to present lucrative opportunities for the players operating in the electrolyzers market.
Product Development/ Innovation: The electrolyzers market is witnessing significant product development and innovation, driven by the growing demand for environmentally friendly, safe and sustainable products. Companies are investing in developing advanced electrolyzer technologies for various applications.
Market Development: Nel ASA has finalized an agreement valued at around USD 12.9 million, supplying 40 MW of alkaline electrolyzer equipment to HyCC, a leading partner in the production of green hydrogen for its H2eron project located in Delfzijl, Netherlands.
Market Diversification: John Cockerill announced to enter into the US hydrogen market by acquiring manufacturing space in Baytown, Houston, Texas, for a new gigafactory. The facility is expected to produce 1GW per year of electrolyzers
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include thyssenkrupp nucera (Germany), John Cockerill (Belgium), Nel ASA (Norway), Plug Power Inc. (US), and Siemens Energy (Germany), among others in the electrolyzers market.

1 Introduction

1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Electrolyzers Market: Segmentation
1.3.2 Regional Scope
1.3.3 Years Considered
1.3.4 Currency Considered
1.3.5 Units Considered
1.4 Limitations
1.5 Stakeholders
1.6 Summary of Changes
1.7 Recession Impact

2 Research Methodology

2.1 Research Data
Figure 2 Electrolyzers Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Breakdown of Primary Interviews
Figure 3 Breakdown of Primaries
2.2 Data Triangulation
Figure 4 Data Triangulation Methodology
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
Figure 5 Electrolyzers Market: Bottom-Up Approach
2.3.2 Top-Down Approach
Figure 6 Electrolyzers Market: Top-Down Approach
2.3.3 Demand-Side Analysis
Figure 7 Key Metrics Considered to Analyze Demand for Electrolyzers
2.3.3.1 Demand-Side Assumptions
2.3.3.2 Demand-Side Calculations
Table 1 Global Market Size Estimation, by Technology, 2022
2.3.4 Supply-Side Analysis
Figure 8 Key Metrics Considered to Assess Supply of Electrolyzers
Figure 9 Electrolyzers Market: Supply-Side Analysis
2.3.4.1 Supply-Side Assumptions
Figure 10 Electrolyzers Market: Market Share Analysis
2.4 Forecast Assumptions
2.5 Research Limitations
2.6 Risk Assessment
2.7 Impact of Recession on Electrolyzers Market

3 Executive Summary

Table 2 Electrolyzers Market Snapshot
Figure 11 Alkaline Electrolyzer Segment to Dominate Electrolyzers Market, by Technology, in 2030
Figure 12 Mobility Segment to Lead Electrolyzers Market, by Application, in 2030
Figure 13 < 500 kW Segment to Account for Largest Share of Electrolyzers Market, by Power Rating, in 2030
Figure 14 Europe Held Largest Share of Electrolyzers Market in 2022

4 Premium Insights

4.1 Attractive Opportunities for Players in Electrolyzers Market
Figure 15 Increasing Demand for Green Hydrogen and Clean Energy to Drive Electrolyzers Market During Forecast Period
4.2 Electrolyzers Market, by Region
Figure 16 Asia-Pacific to be Fastest Growing Electrolyzers Market During Forecast Period
4.3 Electrolyzers Market, by Technology
Figure 17 Alkaline Electrolyzer Segment Dominated Electrolyzers Market in 2022
4.4 Electrolyzers Market, by Application
Figure 18 Mobility Segment Held Largest Share of Electrolyzers Market in 2022
4.5 Electrolyzers Market, by Power Rating
Figure 19 >2,000 kW Segment Accounted for Largest Share of Electrolyzers Market in 2022
4.6 Electrolyzers Market in Europe, by Application and Country
Figure 20 Mobility Applications and Germany Dominated Electrolyzers Market in Europe in 2022

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
Figure 21 Electrolyzers Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Favorable Government Initiatives and Policies Supporting Green Hydrogen Production
5.2.1.2 Substantial Financial Support by Public and Private Investors
5.2.1.3 Growing Demand for Green Ammonia as Sustainable Fuel for Power Generation
5.2.2 Restraints
5.2.2.1 Limited Availability of Platinum Group Metals (Pgms)
Table 3 Global Shares of Critical Materials
5.2.2.2 Intermittency of Renewable Energy Sources
5.2.3 Opportunities
5.2.3.1 Increasing Campaigns to Achieve Net Zero and Meet Electrolyzer Installation Targets
5.2.3.2 Rising Deployment of Electrolyzers in Onsite Hydrogen Refueling Stations (Hrs)
5.2.4 Challenges
5.2.4.1 Lack of Necessaryinfrastructure to Bolster Hydrogen Markets
5.3 Trends/Disruptions Impacting Customers’ Businesses
Figure 22 Trends/Disruptions Impacting Customers’ Businesses
5.4 Supply Chain Analysis
Figure 23 Electrolyzers Market: Supply Chain Analysis
5.4.1 Raw Material Providers
5.4.2 Processed Material Providers
5.4.3 Subcomponent Providers
5.4.4 Electrolyzer Manufacturers
5.4.5 End-users
Table 4 Role of Participants in Electrolyzers Ecosystem
5.5 Ecosystem/Market Map
Figure 24 Electrolyzers Market Map
5.6 Technology Analysis
5.7 Patent Analysis
Figure 25 Electrolyzers Market: Patents Applied and Granted, 2012-2022
5.7.1 List of Major Patents
Table 5 Electrolyzers: Innovations and Patent Registrations, August 2018-November 2022
5.8 Regulatory Landscape
5.8.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 6 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 7 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 8 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 RoW: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.8.2 Electrolyzers Market: Regulatory Framework
Table 10 Electrolyzers Market: Regulatory Framework, by Region
5.9 Key Conferences and Events
Table 11 Electrolyzers Market: List of Key Conferences and Events, 2023-2024
5.10 Trade Analysis
5.10.1 Export Scenario
Table 12 Export Data for HS Code 280410-Compliant Products, by Country, 2020-2022 (USD Thousand)
Figure 26 Export Data for HS Code 280410-Compliant Products, by Country, 2020-2022 (USD Thousand)
5.10.2 Import Scenario
Table 13 Import Data for HS Code 280410-Compliant Products, by Country, 2020-2022 (USD Thousand)
Figure 27 Import Data for HS Code 280410-Compliant Products, by Country, 2020-2022 (USD Thousand)
5.11 Pricing Analysis
5.11.1 Indicative Pricing Analysis, by Technology
Table 14 Indicative Pricing Analysis, by Technology, 2022 (USD/kW)
5.11.2 Average Selling Price Trend, by Region
Table 15 Average Selling Price Trend, by Region, 2020-2023 (USD/kW)
5.12 Case Study Analysis
5.12.1 Rwe Produced Hydrogen on Large Scale Using Sunfire's Electrolyzer System
5.12.2 Storage and Transportation of Renewable Energy from Offshore to Onshore in Northwestern Europe and UK
5.12.3 National Renewable Energy Laboratory Developed High-Performance Electrolyzer Components in Collaboration with Electric Hydrogen
5.13 Porter's Five Forces Analysis
Figure 28 Electrolyzers Market: Porter's Five Forces Analysis
Table 16 Electrolyzers Market: Porter's Five Forces Analysis
5.13.1 Threat of Substitutes
5.13.2 Bargaining Power of Suppliers
5.13.3 Bargaining Power of Buyers
5.13.4 Threat of New Entrants
5.13.5 Intensity of Competitive Rivalry
5.14 Key Stakeholders and Buying Criteria
5.14.1 Key Stakeholders in Buying Process
Figure 29 Influence of Stakeholders on Buying Process for Top Three Applications
Table 17 Influence of Stakeholders on Buying Process for Top Three Applications (%)
5.14.2 Buying Criteria
Figure 30 Key Buying Criteria for Top Three Applications
Table 18 Key Buying Criteria for Top Three Applications
5.15 Techno-Economic Roadmap for Electrolyzers
5.16 China vs. Global Competitive Landscape, by Electrolyzer Manufacturing Capacity

6 Electrolyzers Market, by Technology

6.1 Introduction
Figure 31 Electrolyzers Market Share, by Technology, 2022 (%)
Table 19 Electrolyzers Market, by Technology, 2020-2022 (kW)
Table 20 Electrolyzers Market, by Technology, 2023-2030 (kW)
Table 21 Electrolyzers Market, by Technology, 2020-2022 (USD Million)
Table 22 Electrolyzers Market, by Technology, 2023-2030 (USD Million)
6.2 Alkaline Electrolyzer (Ae)
6.2.1 Preference for Mature and Cost-Effective Technology to Contribute to Segmental Growth
Table 23 Alkaline Electrolyzer (Ae): Electrolyzers Market, by Region, 2020-2022 (kW)
Table 24 Alkaline Electrolyzer (Ae): Electrolyzers Market, by Region, 2023-2030 (kW)
Table 25 Alkaline Electrolyzer (Ae): Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 26 Alkaline Electrolyzer (Ae): Electrolyzers Market, by Region, 2023-2030 (USD Million)
6.3 Proton Exchange Membrane (Pem)
6.3.1 High Flexibility and Ability to Couple with Dynamic and Intermittent Renewable Energy Sources to Drive Segmental Growth
Table 27 Proton Exchange Membrane (Pem): Electrolyzers Market, by Region, 2020-2022 (kW)
Table 28 Proton Exchange Membrane (Pem): Electrolyzers Market, by Region, 2023-2030 (kW)
Table 29 Proton Exchange Membrane (Pem): Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 30 Proton Exchange Membrane (Pem): Electrolyzers Market, by Region, 2023-2030 (USD Million)
6.4 Solid Oxide Electrolyzer (Soe)
6.4.1 Growing Need for Energy-Efficient Equipment in Hydrogen Production to Foster Segmental Growth
Table 31 Solid Oxide Electrolyzer (Soe): Electrolyzers Market, by Region, 2020-2022 (kW)
Table 32 Solid Oxide Electrolyzer (Soe): Electrolyzers Market, by Region, 2023-2030 (kW)
Table 33 Solid Oxide Electrolyzer (Soe): Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 34 Solid Oxide Electrolyzer (Soe): Electrolyzers Market, by Region, 2023-2030 (USD Million)
6.5 Anion Exchange Membrane (Aem)
6.5.1 Advantages Such as Sustainable and Low-Cost Hydrogen Production to Propel Segmental Growth
Table 35 Anion Exchange Membrane (Aem): Electrolyzers Market, by Region, 2020-2022 (kW)
Table 36 Anion Exchange Membrane (Aem): Electrolyzers Market, by Region, 2023-2030 (kW)
Table 37 Anion Exchange Membrane (Aem): Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 38 Anion Exchange Membrane (Aem): Electrolyzers Market, by Region, 2023-2030 (USD Million)

7 Electrolyzers Market, by Power Rating

7.1 Introduction
Figure 32 Electrolyzers Market Share, by Power Rating, 2022 (%)
Table 39 Electrolyzers Market, by Power Rating, 2020-2022 (USD Million)
Table 40 Electrolyzers Market, by Power Rating, 2023-2030 (USD Million)
7.2 < 500 kW
7.2.1 Increasing Deployment of Small-Scale Renewable Energy Projects to Boost Demand
7.3 500-2,000 kW
7.3.1 Rising Demand for Green Hydrogen to Drive Market
7.4 >2,000 kW
7.4.1 Surging Investments in High-Capacity Hydrogen Generation Plants to Fuel Market Growth

8 Electrolyzers Market, by Application

8.1 Introduction
Figure 33 Electrolyzers Market, by Application, 2022 (%)
Table 41 Electrolyzers Market, by Application, 2020-2022 (kW)
Table 42 Electrolyzers Market, by Application, 2023-2030 (kW)
Table 43 Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 44 Electrolyzers Market, by Application, 2023-2030 (USD Million)
8.2 Energy
Table 45 Energy: Electrolyzers Market, by Region, 2020-2022 (kW)
Table 46 Energy: Electrolyzers Market, by Region, 2023-2030 (kW)
Table 47 Energy: Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 48 Energy: Electrolyzers Market, by Region, 2023-2030 (USD Million)
Table 49 Energy: Electrolyzers Market, by Type, 2020-2022 (kW)
Table 50 Energy: Electrolyzers Market, by Type, 2023-2030 (kW)
Table 51 Energy: Electrolyzers Market, by Type, 2020-2022 (USD Million)
Table 52 Energy: Electrolyzers Market, by Type, 2023-2030 (USD Million)
8.2.1 Power Generation
8.2.1.1 Increasing Use of Green Hydrogen to Store Excess Energy Generated from Renewable Energy Sources to Drive Segmental Growth
8.2.2 Combined Heat and Power (Chp)
8.2.2.1 Shift Toward Green Hydrogen-based Chp Plants to Reduce Emissions to Contribute to Segmental Growth
8.3 Mobility
8.3.1 Rising Government Investments Supporting Transition to Clean Fuels to Fuel Market Growth
Table 53 Mobility: Electrolyzers Market, by Region, 2020-2022 (kW)
Table 54 Mobility: Electrolyzers Market, by Region, 2023-2030 (kW)
Table 55 Mobility: Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 56 Mobility: Electrolyzers Market, by Region, 2023-2030 (USD Million)
8.4 Industrial
Table 57 Industrial: Electrolyzers Market, by Region, 2020-2022 (kW)
Table 58 Industrial: Electrolyzers Market, by Region, 2023-2030 (kW)
Table 59 Industrial: Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 60 Industrial: Electrolyzers Market, by Region, 2023-2030 (USD Million)
Table 61 Industrial: Electrolyzers Market, by Type, 2020-2022 (kW)
Table 62 Industrial: Electrolyzers Market, by Type, 2023-2030 (kW)
Table 63 Industrial: Electrolyzers Market, by Type, 2020-2022 (USD Million)
Table 64 Industrial: Electrolyzers Market, by Type, 2023-2030 (USD Million)
8.4.1 Chemicals Industry
8.4.1.1 Growing Demand for Green Ammonia and Methanol to Propel Segmental Growth
8.4.2 Other Industries
8.5 Grid Injection
8.5.1 Increased Penetration of Renewables in Energy Systems to Foster Market Growth
Table 65 Grid Injection: Electrolyzers Market, by Region, 2020-2022 (kW)
Table 66 Grid Injection: Electrolyzers Market, by Region, 2023-2030 (kW)
Table 67 Grid Injection: Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 68 Grid Injection: Electrolyzers Market, by Region, 2023-2030 (USD Million)

9 Electrolyzers Market, by Region

9.1 Introduction
Figure 34 Europe Accounted for Largest Share of Electrolyzers Market in 2022
Table 69 Electrolyzers Market, by Region, 2020-2022 (kW)
Table 70 Electrolyzers Market, by Region, 2023-2030 (kW)
Table 71 Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 72 Electrolyzers Market, by Region, 2023-2030 (USD Million)
9.2 Europe
Figure 35 Europe: Electrolyzers Market Snapshot
9.2.1 Impact of Recession on Electrolyzers Market in Europe
9.2.2 Europe: Electrolyzers Project List
Table 73 Europe: Electrolyzers Project List
9.2.3 By Technology
Table 74 Europe: Electrolyzers Market, by Technology, 2020-2022 (USD Million)
Table 75 Europe: Electrolyzers Market, by Technology, 2023-2030 (USD Million)
9.2.4 By Application
Table 76 Europe: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 77 Europe: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.2.5 By Country
Table 78 Europe: Electrolyzers Market, by Country, 2020-2022 (kW)
Table 79 Europe: Electrolyzers Market, by Country, 2023-2030 (kW)
Table 80 Europe: Electrolyzers Market, by Country, 2020-2022 (USD Million)
Table 81 Europe: Electrolyzers Market, by Country, 2023-2030 (USD Million)
9.2.5.1 Germany
9.2.5.1.1 Ongoing Large-Scale Green Hydrogen Projects to Propel Market
Table 82 Germany: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 83 Germany: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.2.5.2 UK
9.2.5.2.1 Rise in Electrolyzer Manufacturing Capacity to Drive Market
Table 84 UK: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 85 UK: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.2.5.3 France
9.2.5.3.1 Rising Government Focus on Hydrogen R&D Projects to Fuel Market Growth
Table 86 France: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 87 France: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.2.5.4 Denmark
9.2.5.4.1 Substantial Efforts to Decarbonize Mobility Sector to Support Market Growth
Table 88 Denmark: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 89 Denmark: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.2.5.5 Austria
9.2.5.5.1 Strong Focus on Decarbonizing Steel and Chemicals Industries to Foster Market Growth
Table 90 Austria: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 91 Austria: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.2.5.6 Netherlands
9.2.5.6.1 Availability of Subsidies to Enhance Electrolyzer Capacity to Fuel Market Growth
Table 92 Netherlands: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 93 Netherlands: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.2.5.7 Norway
9.2.5.7.1 Accelerated Demand for Electrolyzers for Industrial Applications to Drive Market
Table 94 Norway: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 95 Norway: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.2.5.8 Rest of Europe
Table 96 Rest of Europe: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 97 Rest of Europe: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.3 North America
9.3.1 Impact of Recession on Electrolyzers Market in North America
9.3.2 North America: Electrolyzers Project List
Table 98 North America: Electrolyzers Project List
9.3.3 By Technology
Table 99 North America: Electrolyzers Market, by Technology, 2020-2022 (USD Million)
Table 100 North America: Electrolyzers Market, by Technology, 2023-2030 (USD Million)
9.3.4 By Application
Table 101 North America: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 102 North America: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.3.5 By Country
Table 103 North America: Electrolyzers Market, by Country, 2020-2022 (kW)
Table 104 North America: Electrolyzers Market, by Country, 2023-2030 (kW)
Table 105 North America: Electrolyzers Market, by Country, 2020-2022 (USD Million)
Table 106 North America: Electrolyzers Market, by Country, 2023-2030 (USD Million)
9.3.5.1 US
9.3.5.1.1 National Hydrogen Strategy to Support Market Growth
Table 107 US: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 108 US: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.3.5.2 Canada
9.3.5.2.1 Presence of Hydro-Powered Electrolyzer Facilities to Contribute to Market Growth
Table 109 Canada: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 110 Canada: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.4 Asia-Pacific
Figure 36 Asia-Pacific: Electrolyzers Market Snapshot
9.4.1 Impact of Recession on Electrolyzers Market in Asia-Pacific
9.4.2 Electrolyzers Project List in Asia-Pacific
Table 111 Asia-Pacific: Electrolyzers Project List
9.4.3 By Technology
Table 112 Asia-Pacific: Electrolyzers Market, by Technology, 2020-2022 (USD Million)
Table 113 Asia-Pacific: Electrolyzers Market, by Technology, 2023-2030 (USD Million)
9.4.4 By Application
Table 114 Asia-Pacific: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 115 Asia-Pacific: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.4.5 By Country
Table 116 Asia-Pacific: Electrolyzers Market, by Country, 2020-2022 (kW)
Table 117 Asia-Pacific: Electrolyzers Market, by Country, 2023-2030 (kW)
Table 118 Asia-Pacific: Electrolyzers Market, by Country, 2020-2022 (USD Million)
Table 119 Asia-Pacific: Electrolyzers Market, by Country, 2023-2030 (USD Million)
9.4.5.1 China
9.4.5.1.1 Increasing Investments in Large-Scale Projects and Low-Cost of Electrolyzers to Propel Market
Table 120 China: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 121 China: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.4.5.2 Japan
9.4.5.2.1 Rising Number of Hydrogen Refueling Stations and Hydrogen Vehicles to Drive Market
Table 122 Japan: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 123 Japan: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.4.5.3 Australia
9.4.5.3.1 Implementation of National Hydrogen Strategy to Boost Market Growth
Table 124 Australia: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 125 Australia: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.4.5.4 Rest of Asia-Pacific
Table 126 Rest of Asia-Pacific: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 127 Rest of Asia-Pacific: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.5 RoW
9.5.1 Impact of Recession on Electrolyzers Market in RoW
9.5.2 RoW: Electrolyzers Project List
Table 128 RoW: Electrolyzers Project List
9.5.3 By Technology
Table 129 RoW: Electrolyzers Market, by Technology, 2020-2022 (USD Million)
Table 130 RoW: Electrolyzers Market, by Technology, 2023-2030 (USD Million)
9.5.4 By Application
Table 131 RoW: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 132 RoW: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.5.5 By Country
Table 133 RoW: Electrolyzers Market, by Region, 2020-2022 (kW)
Table 134 RoW: Electrolyzers Market, by Region, 2023-2030 (kW)
Table 135 RoW: Electrolyzers Market, by Region, 2020-2022 (USD Million)
Table 136 RoW: Electrolyzers Market, by Region, 2023-2030 (USD Million)
9.5.5.1 Egypt
9.5.5.1.1 Rising Government Investments in Green Hydrogen Projects to Contribute to Market Growth
Table 137 Egypt: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 138 Egypt: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.5.5.2 GCC Countries
9.5.5.2.1 Saudi Arabia
9.5.5.2.1.1 Implementation of National Hydrogen Strategy to Boost Demand
Table 139 Saudi Arabia: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 140 Saudi Arabia: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.5.5.2.2 Other GCC Countries
Table 141 Other GCC Countries: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 142 Other GCC Countries: Electrolyzers Market, by Application, 2023-2030 (USD Million)
9.5.5.3 Other Countries
Table 143 Other Countries: Electrolyzers Market, by Application, 2020-2022 (USD Million)
Table 144 Other Countries: Electrolyzers Market, by Application, 2023-2030 (USD Million)

10 Competitive Landscape

10.1 Overview of Strategies Adopted by Key Players
Table 145 Key Developments in Electrolyzers Market, 2019-2023
10.1.1 Product Portfolio
10.1.2 Regional Focus
10.1.3 Strategic Development/Partnership
10.1.4 Investment and Expansion/Product Launch
10.2 Market Share Analysis of Key Players
Table 146 Electrolyzers Market: Degree of Competition
Figure 37 Market Share Analysis of Top Players, 2022
10.3 Market Evaluation Framework
Table 147 Market Evaluation Framework, 2019-2023
10.4 Five-Year Revenue Analysis of Top Market Players
Figure 38 Electrolyzers Market: Revenue Analysis of Top Market Players, 2018-2022
10.5 Company Evaluation Matrix
10.5.1 Stars
10.5.2 Emerging Leaders
10.5.3 Pervasive Players
10.5.4 Participants
Figure 39 Electrolyzers Market: Company Evaluation Matrix, 2022
10.6 Company Footprint
Table 148 Technology Footprint: Key Players
Table 149 Application Footprint: Key Players
Table 150 Power Rating Footprint: Key Players
Table 151 Region Footprint: Key Players
Table 152 Overall Company Footprint: Key Players
10.7 Start-Ups/Small and Medium-Sized Enterprises (SMEs) Evaluation Matrix
10.7.1 Progressive Companies
10.7.2 Responsive Companies
10.7.3 Dynamic Companies
10.7.4 Starting Blocks
Figure 40 Electrolyzers Market: Start-Ups/SMEs Evaluation Matrix, 2022
10.8 Competitive Benchmarking
Table 153 Electrolyzers Market: List of Key Start-Ups/SMEs
Table 154 Technology Competitive Benchmarking: Start-Ups/SMEs
10.9 Recent Developments
10.9.1 Deals
Table 155 Electrolyzers Market: Deals, 2019-2023
10.9.2 Product Launches
Table 156 Electrolyzers Market: Product Launches, 2019-2023
10.9.3 Others
Table 157 Electrolyzers Market: Others, 2019-2023

11 Company Profiles

11.1 Key Players
(Business Overview, Products Offered, Recent Developments, and Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
11.1.1 Thyssenkrupp Nucera
Table 158 Thyssenkrupp Nucera: Company Overview
Figure 41 Thyssenkrupp Nucera: Company Snapshot
Table 159 Thyssenkrupp Nucera: Products/Solutions/Services Offered
Table 160 Thyssenkrupp Nucera: Product/Solution/Service Specifications
Table 161 Thyssenkrupp Nucera: Deals
Table 162 Thyssenkrupp Nucera: Others
11.1.2 John Cockerill
Table 163 John Cockerill: Company Overview
Table 164 John Cockerill: Products/Solutions/Services Offered
Table 165 John Cockerill: Product/Solution/Service Specifications
Table 166 John Cockerill: Deals
Table 167 John Cockerill: Others
11.1.3 Nel Asa
Table 170 Nel Asa: Product/Solution/Service Specifications
Table 171 Nel Asa: Product Launches
Table 172 Nel Asa: Deals
Table 173 Nel Asa: Others
11.1.4 Siemens Energy
Table 174 Siemens Energy: Company Overview
Figure 43 Siemens Energy: Company Snapshot
Table 175 Siemens Energy: Products/Solutions/Services Offered
Table 176 Siemens Energy: Product/Solution/Service Specifications
Table 177 Siemens Energy: Deals
Table 178 Siemens Energy: Others
11.1.5 Plug Power Inc.
Table 179 Plug Power Inc.: Company Overview
Table 180 Plug Power Inc.: Products/Solutions/Services Offered
Table 181 Plug Power Inc.: Product/Solution/Service Specifications
Table 182 Plug Power Inc.: Deals
Table 183 Plug Power Inc.: Others
11.1.6 Enapter S.R.L.
Table 184 Enapter S.R.L.: Company Overview
Figure 45 Enapter S.R.L.: Company Snapshot
Table 185 Enapter S.R.L.: Products/Solutions/Services Offered
Table 186 Enapter S.R.L.: Product/Solution/Service Specifications
Table 187 Enapter S.R.L.: Product Launches
Table 188 Enapter S.R.L.: Deals
Table 189 Enapter S.R.L.: Others
11.1.7 Cummins Inc.
Table 190 Cummins Inc.: Company Overview
Figure 46 Cummins Inc.: Company Snapshot
Table 191 Cummins Inc.: Products/Solutions/Services Offered
Table 192 Cummins Inc.: Deals
Table 193 Cummins Inc.: Others
11.1.8 Itm Power PLC
Table 194 Itm Power PLC: Company Overview
Figure 47 Itm Power PLC: Company Snapshot
Table 195 Itm Power PLC: Products/Solutions/Services Offered
Table 196 Itm Power PLC: Deals
Table 197 Itm Power PLC: Others
11.1.9 Mcphy Energy SA
Table 198 Mcphy Energy SA: Company Overview
Figure 48 Mcphy Energy SA: Company Snapshot
Table 199 Mcphy Energy SA: Products/Solutions/Services Offered
Table 200 Mcphy Energy SA: Deals
Table 201 Mcphy Energy SA: Others
11.1.10 Peric Hydrogen Technologies Co. Ltd
Table 202 Peric Hydrogen Technologies Co. Ltd.: Company Overview
Table 203 Peric Hydrogen Technologies Co. Ltd.: Products/Solutions/Services Offered
Table 204 Peric Hydrogen Technologies Co. Ltd.: Deals
11.1.11 Longi
Table 205 Longi: Company Overview
Figure 49 Longi: Company Snapshot
Table 206 Longi: Products/Solutions/Services Offered
Table 207 Longi: Product Launches
Table 208 Longi: Deals
Table 209 Longi: Others
11.1.12 Sunfire GmbH
Table 210 Sunfire GmbH: Company Overview
Table 211 Sunfire GmbH: Products/Solutions/Services Offered
Table 212 Sunfire GmbH: Deals
Table 213 Sunfire GmbH: Others
11.1.13 Bloom Energy
Table 214 Bloom Energy: Company Overview
Table 215 Bloom Energy: Products/Solutions/Services Offered
Table 216 Bloom Energy: Product/Solution/Service Specifications
Table 217 Bloom Energy: Deals
Table 218 Bloom Energy: Others
11.1.14 H-Tec Systems GmbH
Table 219 H-Tec Systems GmbH: Company Overview
Table 220 H-Tec Systems GmbH: Products/Solutions/Services Offered
Table 221 H-Tec Systems GmbH: Product Launches
Table 222 H-Tec Systems GmbH: Deals
Table 223 H-Tec Systems GmbH: Others
11.1.15 Beijing Sinohy Energy Co. Ltd
Table 224 Beijing Sinohy Energy Co. Ltd.: Company Overview
Table 225 Beijing Sinohy Energy Co. Ltd.: Products/Solutions/Services Offered
Table 226 Beijing Sinohy Energy Co. Ltd.: Deals
11.1.16 Asahi Kasei Corporation
Table 227 Asahi Kasei Corporation: Company Overview
Figure 51 Asahi Kasei Corporation: Company Snapshot
Table 228 Asahi Kasei Corporation: Products/Solutions/Services Offered
Table 229 Asahi Kasei Corporation: Deals
Table 230 Asahi Kasei Corporation: Others
11.1.17 Next Hydrogen
Table 231 Next Hydrogen: Company Overview
Figure 52 Next Hydrogen: Company Snapshot
Table 232 Next Hydrogen: Products/Solutions/Services Offered
Table 233 Next Hydrogen: Deals
Table 234 Next Hydrogen: Others
11.2 Other Players
11.2.1 Oxeon Energy, LLC
11.2.2 Green Hydrogen Systems
11.2.3 Erre due S.P.A.
11.2.4 Hydrogenpro
11.2.5 Igas Energy GmbH
11.2.6 Topsoe
11.2.7 H2E Power
11.2.8 Ohmium
*Details on Business Overview, Products Offered, Recent Developments, and Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) Might Not be Captured in Case of Unlisted Companies

12 Appendix

12.1 Insights from Industry Experts
12.2 Discussion Guide
12.3 Knowledgestore: The Subscription Portal
12.4 Customization Options

Executive Summary

Companies Profiled

Thyssenkrupp Nucera
John Cockerill
Nel Asa
Siemens Energy
Plug Power Inc.
Enapter S.R.L.
Cummins Inc.
Itm Power PLC
Mcphy Energy SA
Peric Hydrogen Technologies Co. Ltd
Longi
Sunfire GmbH
Bloom Energy
H-Tec Systems GmbH
Beijing Sinohy Energy Co. Ltd
Asahi Kasei Corporation
Next Hydrogen
Oxeon Energy, LLC
Green Hydrogen Systems
Erre due S.P.A.
Hydrogenpro
Igas Energy GmbH
Topsoe
H2E Power
Ohmium

Methodology

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Global Electrolyzers Market by Technology (Alkaline, Proton Exchange Membrane (PEM), Solid Oxide Electrolyzer, AEM), Application (Energy, Mobility, Industrial, Grid Injection), Power Rating (2,000 kW), Region - Forecast to 2030

Alkaline Electrolyzers: The largest segment of the electrolyzers market, by technology

By Power Rating, < 500 kW segment is expected to be the fastest growing segment during the forecast period

Asia-Pacific is expected to be the second largest growing region in the electrolyzers market

Breakdown of Primaries

Research Coverage

Key Benefits of Buying the Report

Table of Contents

Executive Summary

Companies Profiled

Methodology

Alkaline Electrolyzers: The largest segment of the electrolyzers market, by technology

By Power Rating, < 500 kW segment is expected to be the fastest growing segment during the forecast period

Asia-Pacific is expected to be the second largest growing region in the electrolyzers market

Breakdown of Primaries

Research Coverage

Key Benefits of Buying the Report

Table of Contents

Executive Summary

Companies Profiled

Methodology

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