The global hydrogen electrolyzer market is expected to grow at a CAGR of 24.2% over the forecast period of 2022 to 2032. The market valuation is set to reach US$ 3.7 Bn by the end of 2032. Rising demand for hydrogen gas across various end-use sectors is estimated to drive growth in the hydrogen electrolyzer market during the forthcoming years.
Development of new technologies to reduce the operational cost of hydrogen is anticipated to fuel the market. Moreover, rising awareness about the harmful effects of carbon emissions worldwide are set to create new growth opportunities in the market.
Higher adoption of renewable energy sources and increasing onsite hydrogen production are set to boost the demand for hydrogen electrolyzers in the upcoming decade. Apart from that, surging demand for carbon-free steel in various industries such as automotive is projected to create new growth opportunities in the steel manufacturing sector.
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Increasing initiatives taken by several automotive manufacturers to reduce carbon emission from vehicles is another vital factor that would propel sales of hydrogen electrolyzers in future. Surging development of green energy worldwide is also expected to drive the market.
Key Takeaways: Hydrogen Electrolyzer Market
- By product type, sales of PEM electrolyzers are expected to grow at a CAGR of 25.2% during the forecast period.
- By outlet pressure, the low (<= 10 bar) segment is anticipated to dominate the market and is expected to account for about 2/3rd of the share.
- By end use, the transportation segment is projected to lead the hydrogen electrolyzer market and create an absolute $ opportunity worth US$ 905.5 Mn in 2032.
- In terms of region, the Europe hydrogen electrolyzers market is estimated to exhibit a CAGR of 24.1%.
“Increasing demand for hydrogen fuel due to rising investments in novel programs for reducing carbon emissions globally is set to create new growth opportunities for companies in the hydrogen electrolyzers market,” says a FMI analyst.
Competitive Landscape: Hydrogen Electrolyzer Market
Some of the key players present in the global hydrogen electrolyzer market include Siemens AG, Nel Hydrogen, McPhy Energy, ITM Power Plc, Tianjin Mainland Hydrogen Equipment Co. Ltd, Gaztransport & Technigaz, Giner Inc., GreenHydrogen Systems, iGas Energy GmbH, Beijing CEI Technology Co., Ltd., Next Hydrogen, Air Liquide, Ballard Power Systems, Enapter , Plug Power Inc., Bloom Energy, Pure Energy Centre, Shandong Saikesaisi Hydrogen Energy Co., Ltd., Idroenergy, Erredue SpA, and SwissHydrogen SA among others.
Manufacturers are strategically collaborating with technology companies for co-developing new products and gaining a competitive edge. A few others are looking forward to helping the oil and gas industry by providing technologically advanced products.
More Valuable Insights on Hydrogen Electrolyzer Market:
The research report analyzes the market demand trend for hydrogen electrolyzer. The global market is based on macroeconomic factors, market trends & market background.
As per Future Market Insights’ research scope, the hydrogen electrolyzer market report is studied and analyzed in the following segments such as by product type (PEM electrolyzer, alkaline electrolyzer, and solid oxide electrolyzer), capacity (low (<= 150 kW), medium (150kW–1mW) [150-400 kW, 400-750kW, 750-1mW], and high (> 1mW) [1 – 10 mW, 10 – 20 mW, above 20 mW], outlet pressure (low (<= 10 bar), medium (150 bar–40 bar), and high (> 40 bar)), end use (ammonia, methanol, refining/ hydrocarbon, electronics, energy, power to gas, transport, metal production & fabrication, pharma & biotech, food & beverages, glass industry, and others), and regions (North America, Latin America, Europe, East Asia, South Asia Pacific, and the Middle East & Africa). The hydrogen electrolyzer market report gives us qualitative and quantitative information about the companies.
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Hydrogen Electrolyzer Market Outlook by Category
By Product Type:
- Proton Exchange Membrane (PEM) Electrolyzer
- Alkaline Electrolyzer
- Solid Oxide Electrolyzer
By Capacity:
- Low (<= 150 kW)
- Medium (150kW–1mW)
- 150-400 kW
- 400-750kW
- 750-1mW
- High (> 1mW)
- 1 – 10 mW
- 10 – 20 mW
- Above 20 mW
By Outlet Pressure:
- Low (<= 10 Bar)
- Medium (150 Bar–40 Bar)
- High (> 40 Bar)
By End Use:
- Ammonia
- Methanol
- Refining/ Hydrocarbon
- Electronics
- Energy
- Power to Gas
- Transport
- Metal Production & Fabrication
- Pharma & Biotech
- Food & Beverages
- Glass Industry
- Other Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
- Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
- Global Hydrogen Electrolyzer Market Demand Analysis 2017–2021 and Forecast, 2022–2032
5.1. Historical Market Volume (Units) Analysis, 2017–2021
5.2. Current and Future Market Volume (Units) Projections, 2022–2032
5.3. Y-o-Y Growth Trend Analysis
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