The Electrolyzers Market expects to grow from USD 324.37 million in 2020 to USD 528.81 million by 2028, at a CAGR of 6.5% during the forecast period 2021-2028.
In the process of electrolysis, an electrolyzer uses electricity to break water into hydrogen and oxygen. The electrolyzer system generates hydrogen gas by electrolysis. The remaining oxygen is either released into the atmosphere or caught and stored to supply other industrial processes or, in certain situations, medicinal gases. The hydrogen gas can be compressed or liquefied for storage, and because hydrogen is an energy carrier, it can be utilized to power any hydrogen fuel cell electric application, including trains, buses, vehicles, and data centers. Typically, these devices are employed in stationary, portable, and power generation systems, such as fuel cell-powered cars and portable gadgets.
The factors driving the market are growing Electrolyzers across the globe, favorable regulatory policies toward developing hydrogen infrastructure, electrolyzers adoption, technological development, and accelerating investments toward renewable energy technologies to reduce carbon emissions. The factors restraining the market growth are the lower availability of workforce, the highly corrosive effect of liquid electrolyte used in high-temperature values, limited ability to operate at low loads, and the inability to operate at high pressure. Increased in renewable energy technologies, integration in Hydrogen fuel and electric power generation, allowing flexibility to shift production, electric vehicle use, and technological advancements are expected to provide market growth opportunities.
This study delivers a comprehensive analysis of type, product, and region. The type segment includes Alkaline Electrolyzer, PEM Electrolyzer, and Solid Oxide Electrolyzer. The Alkaline Electrolyzer segment held the largest market share, owing to the shifting trends toward hydrogen generation capacity and growing demand for hydrogen. Furthermore, because of their technical excellence and widespread consumer awareness, these systems are widely used in large-scale initiatives. The Capacity segment includes <500 kW, 500 kW - 2 MW, and above 2 MW. <500 kW segment holds the largest market share, owing to the increasing electricity demand across various industrial establishments, growing demand across a wide array of applications, and shifting trends toward sustainable power generation sources. The application segment includes Power Generation, Transportation, Industry Energy, Industry Feedstock, and Building Heating & Power. The power Generation segment holds the largest market share, owing to the demand from the industrial sector for on-site electrolyzer setup, Increasing investment towards renewable energy generation, and innovative technology in power generation.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Europe holds the largest market share in Germany, owing to the several initiatives from the European government for encouraging decarbonization, wide-scale product adoption, and emerging hydrogen-based technologies. The Asia-Pacific region is anticipated to grow and holds the largest share in China due to rapid technological advancement, deployment of sustainable energy technologies, and increasing demand for electricity across heating, transportation, and industrial activities.
Some of the notable players in the market are Hydrogenics, Proton Onsite, Siemens, Toshiba, Air Liquide, McPhy Energy, ITM Power, Idroenergy, Kobelco Eco-solutions, Areva H2Gen, IHT, Nel Hydrogen, McPhy Energy S.A., Accagen SA, and Next Hydrogen a Beijing CEI Technology Co.Ltd.
Electrolyzers Market Analysis and Forecast, Type
Electrolyzers Market Analysis and Forecast, Product
Electrolyzers Market Analysis and Forecast, Application
Electrolyzers Market Analysis and Forecast, Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Type
4.3.2. Market Attractiveness Analysis By Capacity
4.3.3. Market Attractiveness Analysis By Application
4.3.4. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Favorable regulatory policies toward development of hydrogen infrastructure
5.2.2. Electrolyzers adoption,
5.2.3. Technological development
5.2.4. Accelerating investments toward renewable energy technologies to reduce carbon emissions
5.3. Restrains
5.3.1. Lower availability of workforce
5.3.2. High corrosive effect of liquid electrolyte used in high-temperature values
5.3.3. Limited ability to operate at low loads
5.3.4. The inability to operate at high pressure.
5.4. Opportunities
5.4.1. Increased in renewable energy technologies
5.4.2. Integration in Hydrogen fuel and electric power generation
5.4.3. Allowing flexibility to shift Capacityion
5.4.4. Use of electric vehicles
5.4.5. The technological advancements
6. Global Electrolyzers Market Analysis and Forecast, By Type
6.1. Segment Overview
6.2. Alkaline Electrolyzer
6.3. PEM Electrolyzer
6.4. Solid Oxide Electrolyzer
7. Global Electrolyzers Market Analysis and Forecast, By Capacity
7.1. Segment Overview
7.2. <500 kW
7.3. 500 kW - 2 MW
7.4. above 2 MW
8. Global Electrolyzers Market Analysis and Forecast, By Application
8.1. Segment Overview
8.2. Power Generation
8.3. Transportation
8.4. Industry Energy
8.5. Industry Feedstock
8.6. Building Heating & Power
9. Global Electrolyzers Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Electrolyzers Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in Global Electrolyzers Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.2.5. Competitive Situations and Trends
10.2.6. Capacity Launches and Developments
10.2.7. Partnerships, Collaborations, and Agreements
10.2.8. Mergers & Acquisitions
10.2.9. Expansions
11. Company Profiles
11.1. Hydrogenics
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Capacity Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Proton Onsite
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Capacity Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Siemens
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Capacity Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Toshiba
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Capacity Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Air Liquide
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Capacity Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. McPhy Energy
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Capacity Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. ITM Power
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Capacity Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Idroenergy
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Capacity Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. Kobelco Eco-solutions
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Capacity Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Areva H2Gen
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Capacity Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
11.11. IHT
11.11.1. Business Overview
11.11.2. Company Snapshot
11.11.3. Company Market Share Analysis
11.11.4. Company Capacity Portfolio
11.11.5. Recent Developments
11.11.6. SWOT Analysis
11.12. Nel Hydrogen
11.12.1. Business Overview
11.12.2. Company Snapshot
11.12.3. Company Market Share Analysis
11.12.4. Company Capacity Portfolio
11.12.5. Recent Developments
11.12.6. SWOT Analysis
11.13. McPhy Energy S.A.,
11.13.1. Business Overview
11.13.2. Company Snapshot
11.13.3. Company Market Share Analysis
11.13.4. Company Capacity Portfolio
11.13.5. Recent Developments
11.13.6. SWOT Analysis
11.14. Accagen SA,
11.14.1. Business Overview
11.14.2. Company Snapshot
11.14.3. Company Market Share Analysis
11.14.4. Company Capacity Portfolio
11.14.5. Recent Developments
11.14.6. SWOT Analysis
11.15. Next Hydrogen a Beijing CEI Technology Co. Ltd.
11.15.1. Business Overview
11.15.2. Company Snapshot
11.15.3. Company Market Share Analysis
11.15.4. Company Capacity Portfolio
11.15.5. Recent Developments
11.15.6. SWOT Analysis
List of Table
1. Global Electrolyzers Market, By Type, 2018-2028 (USD Million)
2. Global Alkaline Electrolyzer, Electrolyzers Market, By Region, 2018-2028 (USD Million)
3. Global PEM Electrolyzer, Electrolyzers Market, By Region, 2018-2028 (USD Million)
4. Global Solid Oxide Electrolyzer, Electrolyzers Market, By Region, 2018-2028 (USD Million)
5. Global Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
6. Global <500 kW, Electrolyzers Market, By Region, 2018-2028 (USD Million)
7. Global 500 kW - 2 MW, Electrolyzers Market, By Region, 2018-2028 (USD Million)
8. Global above 2 MW, Electrolyzers Market, By Region, 2018-2028 (USD Million)
9. Global Electrolyzers Market, By Application, 2018-2028 (USD Million)
10. Global Power Generation, Electrolyzers Market, By Region, 2018-2028 (USD Million)
11. Global Transportation, Electrolyzers Market, By Region, 2018-2028 (USD Million)
12. Global Industry Energy, Electrolyzers Market, By Region, 2018-2028 (USD Million)
13. Global Industry Feedstock, Electrolyzers Market, By Region, 2018-2028 (USD Million)
14. Global Building Heating & Power, Electrolyzers Market, By Region, 2018-2028 (USD Million)
15. North America Electrolyzers Market, By Type, 2018-2028 (USD Million)
16. North America Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
17. North America Electrolyzers Market, By Application, 2018-2028 (USD Million)
18. U.S. Electrolyzers Market, By Type, 2018-2028 (USD Million)
19. U.S. Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
20. U.S. Electrolyzers Market, By Application, 2018-2028 (USD Million)
21. Canada Electrolyzers Market, By Type, 2018-2028 (USD Million)
22. Canada Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
23. Canada Electrolyzers Market, By Application, 2018-2028 (USD Million)
24. Mexico Electrolyzers Market, By Type, 2018-2028 (USD Million)
25. Mexico Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
26. Mexica Electrolyzers Market, By Application, 2018-2028 (USD Million
27. Europe Electrolyzers Market, By Type, 2018-2028 (USD Million)
28. Europe Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
29. Europe Electrolyzers Market, By Application, 2018-2028 (USD Million)
30. Germany Electrolyzers Market, By Type, 2018-2028 (USD Million)
31. Germany Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
32. Germany Electrolyzers Market, By Application, 2018-2028 (USD Million)
33. France Electrolyzers Market, By Type, 2018-2028 (USD Million)
34. France Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
35. France Electrolyzers Market, By Application, 2018-2028 (USD Million)
36. U.K. Electrolyzers Market, By Type, 2018-2028 (USD Million)
37. U.K. Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
38. U.K. Electrolyzers Market, By Application, 2018-2028 (USD Million)
39. Italy Electrolyzers Market, By Type, 2018-2028 (USD Million)
40. Italy Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
41. Italy Electrolyzers Market, By Application, 2018-2028 (USD Million)
42. Spain Electrolyzers Market, By Type, 2018-2028 (USD Million)
43. Spain Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
44. Spain Electrolyzers Market, By Application, 2018-2028 (USD Million)
45. Asia Pacific Electrolyzers Market, By Type, 2018-2028 (USD Million)
46. Asia Pacific Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
47. Asia Pacific Electrolyzers Market, By Application, 2018-2028 (USD Million)
48. Japan Electrolyzers Market, By Type, 2018-2028 (USD Million)
49. Japan Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
50. Japan Electrolyzers Market, By Application, 2018-2028 (USD Million)
51. China Electrolyzers Market, By Type, 2018-2028 (USD Million)
52. China Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
53. China Electrolyzers Market, By Application, 2018-2028 (USD Million)
54. India Electrolyzers Market, By Type, 2018-2028 (USD Million)
55. India Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
56. India Electrolyzers Market, By Application, 2018-2028 (USD Million)
57. South America Electrolyzers Market, By Type, 2018-2028 (USD Million)
58. South America Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
59. South America Electrolyzers Market, By Application, 2018-2028 (USD Million)
60. Brazil Electrolyzers Market, By Type, 2018-2028 (USD Million)
61. Brazil Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
62. Brazil Electrolyzers Market, By Application, 2018-2028 (USD Million)
63. Middle East and Africa Electrolyzers Market, By Type, 2018-2028 (USD Million)
64. Middle East and Africa Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
65. Middle East and Africa Electrolyzers Market, By Application, 2018-2028 (USD Million)
66. UAE Electrolyzers Market, By Type, 2018-2028 (USD Million)
67. UAE Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
68. UAE Electrolyzers Market, By Application, 2018-2028 (USD Million)
69. South Africa Electrolyzers Market, By Type, 2018-2028 (USD Million)
70. South Africa Electrolyzers Market, By Capacity, 2018-2028 (USD Million)
71. South Africa Electrolyzers Market, By Application, 2018-2028 (USD Million)
List of Figures
1. Global Electrolyzers Market Segmentation
2. Global Electrolyzers Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Electrolyzers Market Attractiveness Analysis By Type
9. Global Electrolyzers Market Attractiveness Analysis By Capacity
10. Global Electrolyzers Market Attractiveness Analysis By Application
11. Global Electrolyzers Market Attractiveness Analysis By Region
12. Global Electrolyzers Market: Dynamics
13. Global Electrolyzers Market Share by Type (2021 & 2028)
14. Global Electrolyzers Market Share by Capacity (2021 & 2028)
15. Global Electrolyzers Market Share by Regions (2021 & 2028)
16. Global Electrolyzers Market Share by Company (2020)
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