Key Highlights
• The primary application of hydrogen gas, which burns cleanly, is to create compounds like methanol and ammonia. A fundamental component of fertilizers used in the agriculture sector is ammonia (NH3). Fuel cells and other recently commercialized hydrogen uses are creating new opportunities in the transportation and other energy-related sectors. The gas offers a viable way to stabilize the electrical grid and has already been used as a fuel for cooling power plant units. The processes of coal gasification, steam methane reforming, and electrolysers, which use water electrolysis, are the main sources of hydrogen gas.
• The market size of the worldwide Hydrogen Electrolyzer Market surpassed USD XX billion in 2022, and by 2032, it is projected to reach USD XX billion, boosting at a CAGR of XX%.
• In March 2022 Man Energy Solutions declared it would invest up to USD 500 million in H-Tec Systems, a subsidiary. The extensive global sales network and substantial project management expertise of Man Energy Solutions will be advantageous to H-Tec. Additionally, it will have direct access to the Volkswagen Group's knowledge and experience, particularly when it comes to issues with production scaling and the supplier-based series manufacturing industry.
• Hydrogen electrolyzer employ a diaphragm. We can achieve decarbonization and meet the needs of the energy sector by employing hydrogen energy as a substitute for fossil fuels. Given that hydrogen is a green fuel since hydrogen gas emits nearly little carbon dioxide, many countries are focusing on creating a sustainable hydrogen economy. Through research and development activities, producers on the market are attempting to enhance the devices' efficiency as a catalyst and membrane. Additionally, the world's growing population and increased efforts to electrify more rural regions are contributing factors to the peak energy demand. Utility demand for power has increased as a result of the rate of urbanization and the emergence of new, expensive infrastructure projects. Positive regulatory policies that have been enacted by various authorities to assist low carbon technologies have had an impact on the market size. For instance, on April 3, 2020, the Fukushima Hydrogen Energy Research Field (FH2R) in Japan had an electrolysis system for alkaline water constructed by the Japanese company Asahi Kasei. In September 2020, the core FH2R operation got underway as the hydrogen supply operation continued. The effectiveness of the system in response to changing power input was satisfactorily assessed. The advancement of electrolysis's economic viability may be significantly aided by these research and development initiatives. The requirement for hydrogen is also increasing in the industries that are anticipated to lead the global market during the study period, including semiconductor, glass, mining, food & beverage, and chemical.
Scope of the Industry Profile
Key Players
• Linde PLC (Irland)
• Suzhou Green Hydrogen Energy Co., Ltd. (China)
• Air Types Inc. (US)
• Cummins, Inc. (US)
• Sunfire GmbH (Germany)
• Next Hydrogen (Canada)
• Green Hydrogen (UK)
• ErreDue SPA (Italy)
• NeL ASA (Norway)
• Cockerill Jingli Hydrogen (Belgium)
Segmentation
By Type
• Alkaline Electrolyzer
• PEM Electrolyzer
• Solid Oxide Electrolyzer
By Application
• Power Generation
• Transportation
• Pharma & Biotech
• Food & Beverages
• Others
By Capacity
• Low(<=150KW)
• Medium(150KW-1MW)
• High(1MW<)
What to Expect from Industry Profile
1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Hydrogen Electrolyzer market in the world.
2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Hydrogen Electrolyzer market.
3. Leading company profiles reveal details of key Hydrogen Electrolyzer market players’ global operations, strategies, financial performance & their recent developments.
4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Hydrogen Electrolyzer market with forecast for decade by both market share (%) & revenue (USD Million).
Recent Development
• In January 2022 Logan Energy in Edinburgh and Green Hydrogen Systems have a contract for the delivery of electrolysis equipment for a project in England. As part of ambitions to create a local hydrogen economy in Dorset, England, the electrolytic systems will be installed in a 40-foot container as a fully functional green hydrogen factory. Logan Energy runs these systems, which are made by Green Hydrogen Systems. The purchase includes two GHS Provide A90 systems with a combined capacity of 0.9 MW for the production of green hydrogen using renewable energy.
• In March 2022 Man Energy Solutions declared it would invest up to USD 500 million in H-Tec Systems, a subsidiary. The extensive global sales network and substantial project management expertise of Man Energy Solutions will be advantageous to H-Tec. Additionally, it will have direct access to the Volkswagen Group's knowledge and experience, particularly when it comes to issues with production scaling and the supplier-based series manufacturing industry.
• In October 2021 Plug Power completed the acquisition of United Hydrogen and GINER ELX in June 2020. The acquisition is expected to bring better sales leading to larger market share across the globe.
Segment Insights
By Type
In 2022, the classic alkaline electrolyzer segment held the lion's share of the global electrolyzer market. In these systems, an alkaline electrolyte solution, such as potassium hydroxide, is used to separate the electrodes and nickel-based catalysts. Because of their greater longevity, demand for these systems is rising quickly. It is widely employed in a variety of industrial applications, such as steel manufacturing facilities, power plants, electronics, and plastic photovoltaics. In 2022, PEM type accounted for a sizeable percentage of the global market. These systems are the most often utilized hydrogen generators when coupled with intermittent renewable energy sources (wind and solar), due to their high efficiency and capacity to cycle quickly.
By Application
In 2022, the power plants sector held a dominant 26.71% share of the global market. In order to time-shift the delivery of electricity for use in electric grid applications, power generation machinery such as fuel cells, reciprocating engines, combustion turbines, and steam turbines are integrated with hydrogen production and storage. Since electrolysis systems are largely utilized in photovoltaic (PV), solar thermal (STC), and hybrid photovoltaic/thermal (PV/T) systems, the electronics & photovoltaics category accounted for a sizeable percentage of the market in 2021. Another significant market segment is the steel production sector. An increasing amount of attention has been paid to the growing use of hydrogen fuel as a means of decarbonizing the sector.
Regional Insights
In Asia Pacific, the demand for fuel cell-based automobiles—such as electric cars and buses—is on the rise. Furthermore, China, Japan, and South Korea have made firm commitments to invest in fuel cell-based vehicle initiatives in order to decrease the world's increasing reliance on gasoline. Recent studies have shown that switching from gasoline to FCEVs in the transportation sector can reduce overall GHG emissions by 72%, and that FCEVs are becoming both technologically and economically competitive with current models. In the next years, these factors are anticipated to support the growth of the electrolyser market. Additionally, China began work on a hydrogen city in Wuhan, investing about USD 290 million in the endeavour. The government is concentrating on the development of large-scale on-site hydrogen production for grid balancing, power to gas, and hydrogen refuelling stations (HRS) that are environmentally benign power storage solutions. Many key players are enabling firms to improve their market presence to shape the business environment.
1 INTRODUCTION
1.1 Study Objectives
1.2 Market Definitions
1.2.1 Inclusions & Exclusions
1.2.2 Region: Inclusions & Exclusions
1.2.3 Study Scope
1.2.3.1 Markets Covered
1.2.3.2 Regional Scope
1.2.3.3 Years Considered
1.2.4 Currency Considered
1.2.5 Limitations
1.2.6 Summary Of Report (Chapter Wise Summary)
2 RESEARCH METHODOLOGY
2.1 Research Data
2.1.1 Secondary & Primary Research
2.1.2 Secondary Data
2.1.2.1 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Sources
2.2 Market Breakdown & Data Triangulation
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 EXECUTIVE SUMMARY
4 ACROSS THE GLOBE
4.1 Upcoming Attractive Market Opportunities
4.2 Country Wise Market Growth
4.3 Segment Wise Market Growth
5 MARKET OVERVIEW
5.1 Market Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 PORTOR’S Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Market Premium insights (Enterprise license)
5.4.1 Case Study Analysis
5.4.2 Country Wise Import & Export Data (If
Applicable)
5.4.3 Regulatory Bodies & Authorization
Across the Globe
5.4.4 Key Conferences & Events: 2022 &
2023
5.4.5 Top Patents for The Market: 2022
6 HYDROGEN ELECTROLYZER MARKET OVERVIEW, BY APPLICATION
6.1 Global Market Revenue & Share Analysis, By Application
6.1.1 Power Generation
6.1.2 Transportation
6.1.3 Pharma & Biotech
6.1.4 Food & Beverages
6.1.5 Others
6.2 Global Market Revenue & Share Analysis, 2018 – 2022
6.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
6.4 Key Takeaways
7 HYDROGEN ELECTROLYZER MARKET OVERVIEW, BY CAPACITY
7.1 Global Market Revenue & Share Analysis, By Capacity
7.1.1 Low(<=150KW)
7.1.2 Medium(150KW-1MW)
7.1.3 High(1MW<)
7.2 Global Market Revenue & Share Analysis, 2018 – 2022
7.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
7.4 Key Takeaways
8 HYDROGEN
ELECTROLYZER MARKET OVERVIEW, BY TYPE
8.1 Global Market Revenue & Share Analysis, By Type
8.1.1 Alkaline Electrolyzer
8.1.2 PEM Electrolyzer
8.1.3 Solid Oxide Electrolyzer
8.2 Global Market Revenue & Share Analysis, 2018 – 2022
8.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
8.4 Key Takeaways
9 HYDROGEN ELECTROLYZER MARKET OVERVIEW, BY REGION
9.1 Global Market Revenue & Share Analysis, By Region
9.1.1 North America
9.1.2 Europe
9.1.3 Asia Pacific
9.1.4 Middle East & Africa
9.1.5 South America
9.2 Global Market Revenue & Share Analysis, 2018 – 2022
9.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
9.4 Key Takeaways
10 NORTH AMERICA MARKET
ANALYSIS
10.1 North America Market Revenue & Share Analysis, By
Application
10.2 North America Market Revenue & Share Analysis, By Capacity
10.3 North America Market Revenue & Share Analysis, By Type
10.4 North America Market Revenue & Share Analysis, By Country
10.4.1 US
10.4.2 Canada
10.4.3 Mexico
10.5 Key Takeaways
11 EUROPE MARKET ANALYSIS
11.1 Europe Market Revenue & Share Analysis, By Application
11.2 Europe Market Revenue & Share Analysis, By Capacity
11.3 Europe Market Revenue & Share Analysis, By Type
11.4 Europe Market Revenue & Share Analysis, By Country
11.4.1 UK
11.4.2 Italy
11.4.3 Spain
11.4.4 Germany
11.4.5 France
11.4.6 Rest of Europe
11.5 Key Takeaways
12 ASIA PACIFIC MARKET ANALYSIS
12.1 APAC Market Revenue & Share Analysis, By Application
12.2 APAC Market Revenue & Share Analysis, By Capacity
12.3 APAC Market Revenue & Share Analysis, By Type
12.4 APAC Market Revenue & Share Analysis, By Country
12.4.1 China
12.4.2 Japan
12.4.3 India
12.4.4 South Korea
12.4.5 Rest of APAC
12.5 Key Takeaways
13 MIDDLE EAST & AFRICA MARKET
ANALYSIS
13.1 MEA Market Revenue & Share Analysis, By Application
13.2 MEA Market Revenue & Share Analysis, By Capacity
13.3 MEA Market Revenue & Share Analysis, By Type
13.4 MEA Market Revenue & Share Analysis, By Country
13.4.1 GCC
13.4.2 South Africa
13.4.3 Rest of MEA
13.5 Key Takeaways
14 SOUTH AMERICA MARKET ANALYSIS
14.1 SA Market Revenue & Share Analysis, By Application
14.2 SA Market Revenue & Share Analysis, By Capacity
14.3 SA Market Revenue & Share Analysis, By Type
14.4 SA Market Revenue & Share Analysis, By Country
14.4.1 Brazil
14.4.2 Argentina
14.4.3 Rest of SA
14.5 Key Takeaways
15 COMPETITIVE SCENARIO
15.1 Overview
15.2 Key Players Market Share Analysis
15.3 Recent Developments & Type Launches
15.4 Mergers & Acquisitions
15.5 Partnerships, Agreements & Collaborations
16 COMPANY PROFILES
16.1 Overview
16.2 Key players
16.2.1 Linde PLC (Irland)
16.2.1.1 Business Overview
16.2.1.2 Types Offered
16.2.1.3 Financial Insights
16.2.1.4 Strategic Developments
16.2.1.4.1 New Type Launches
16.2.1.4.2 Agreements & Collaborations
16.2.1.5 Business Aspects (NOISE Analysis)
16.2.1.5.1 Key Strengths
16.2.1.5.2 Opportunities
16.2.1.5.3 Weaknesses & Competitive Threats
16.2.1.5.4 Needs & Improvements
16.2.2 Suzhou Green Hydrogen Energy Co., Ltd.
(China)
16.2.3 Air Types Inc. (US)
16.2.4 Cummins, Inc. (US)
16.2.5 Sunfire GmbH (Germany)
16.2.6 Next Hydrogen (Canada)
16.2.7 Green Hydrogen (UK)
16.2.8 ErreDue SPA (Italy)
16.2.9 NeL ASA (Norway)
16.2.10 Cockerill Jingli Hydrogen (Belgium)
17 DISCLAIMER
18 APPENDIX
