Global Electrolyzers for Green Hydrogen Market by Technology, Capacity, Application - Forecast 2024-2030

The Electrolyzers for Green Hydrogen Market size was estimated at USD 2.12 billion in 2023, USD 2.87 billion in 2024, and is expected to grow at a CAGR of 36.07% to reach USD 18.38 billion by 2030.

Electrolyzers play a crucial role in green hydrogen generation by splitting water into hydrogen and oxygen using electrical energy from renewable sources. Green hydrogen is an eco-friendly energy source derived from renewable resources, including solar or wind power through electrolysis. The green hydrogen electrolyzer comprises producing, distributing, and utilizing electrolyzers specifically designed for generating green hydrogen. The urgency to combat climate change by reducing greenhouse gas emissions has prompted governments worldwide to implement supportive policies and regulations promoting clean energy adoption. These initiatives include setting ambitious targets for renewable energy generation, providing incentives for research and development (R&D), and offering subsidies for green hydrogen production facilities, increasing the demand for electrolyzers for green hydrogen generation. The development of digitized and automated electrolyzers for efficient green hydrogen production has further expanded the scope of the market worldwide. Moreover, the growing demand for green hydrogen across various end-use sectors, including automotive and metal manufacturing, presents significant opportunities for deploying electrolyzers in green hydrogen generation. High capital costs associated with installing electrolyzers and the initial investment required for renewable energy infrastructure may limit market growth.

Additionally, the technical limitations associated with efficiency and energy requirements, scalability, and durability negatively impact the electrolyzers for the green hydrogen market. Ongoing technological advancements in electrolyzer design, materials, and technologies to improve efficiency levels, reduce operational costs, and enhance durability are expected to bolster the availability of electrolyzers for green hydrogen in the coming years. Moreover, the potential deployment of electrolyzers for onsite green hydrogen development is expected to create growth opportunities for the electrolyzers for the green hydrogen market.

Regional Insights

The global market for electrolyzers for green hydrogen is witnessing significant growth in the Americas, driven by increasing demand for clean energy and decarbonization efforts across various countries. In North America, stringent regulations to reduce carbon emissions drive investments in green hydrogen production. The U.S. Department of Energy actively provides funding to advance clean hydrogen technologies. Canadian initiatives and projects to facilitate collaboration between industry stakeholders have further encouraged the deployment and development associated with electrolyzers for green hydrogen. Europe, the Middle East, and Africa represent highly developing electrolyzers for the green hydrogen market due to ambitious targets by regional governments for renewable hydrogen capacity expansion and establishing national strategies with significant investments for green hydrogen generation. Rich in solar resources, the Middle East increasingly embraces green hydrogen production to diversify its energy sector. With rapid industrialization and urbanization in the Asia-Pacific region, countries including China, Japan, and India drive the growing demand for electrolyzers for green hydrogen. China's 14th Five-Year Plan includes targets for hydrogen production, while Japan aims to achieve a carbon-neutral society by 2050 with its basic hydrogen strategy, further encouraging the demand for electrolyzers for green hydrogen in the Asia-Pacific region. Promoting research and development, fostering public-private partnerships, and streamlining permitting processes are expected to support electrolyzers for the green hydrogen market in the coming years.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electrolyzers for Green Hydrogen Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electrolyzers for Green Hydrogen Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Electrolyzers for Green Hydrogen Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Agfa-Gevaert N.V., AquaHydrex, Inc., Avium, LLC, Bloom Energy Corporation, Cummins Inc., Enapter S.r.l., ErreDue SpA, Green Hydrogen Systems A/S, H-TEC SYSTEMS GmbH, H2U Technologies, Inc., Hysata Pty Ltd, Iberdrola, S.A., ITM Power plc, John Cockerill, LONGi Green Energy Technology Co., Ltd., Nel ASA, Next Hydrogen Corporation, Ohmium International, Inc., OxEon Energy, LLC, Plug Power Inc., Siemens AG, SunFire GmbH, Sungrow Power Supply Co., Ltd., thyssenkrupp AG, and Topsoe A/S.

Market Segmentation & Coverage

This research report categorizes the Electrolyzers for Green Hydrogen Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Technology
  • Alkaline Water Electrolysis (AWE)
  • Proton-Exchange-Membrane/ Polymer-Electrolyte-Membrane (PEM)
  • Solid-Oxide Electrolyzers (SOEL)
• Capacity
  • 10 kw to 100 Mw
  • Less than 10Mw
  • More than 100 Mw
• Application
  • Chemicals
  • Iron & Steel
  • Renewable Energy
  • Transportation

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

The report offers valuable insights on the following aspects

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as

1. What is the market size and forecast of the Electrolyzers for Green Hydrogen Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electrolyzers for Green Hydrogen Market?
3. What are the technology trends and regulatory frameworks in the Electrolyzers for Green Hydrogen Market?
4. What is the market share of the leading vendors in the Electrolyzers for Green Hydrogen Market?
5. Which modes and strategic moves are suitable for entering the Electrolyzers for Green Hydrogen Market?

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