Hydrogen Electrolysers Market Synopsis

Hydrogen Electrolysers Market Size Was Valued at USD 525.06 Million in 2023 and is Projected to Reach USD 3716.50 Million by 2032, Growing at a CAGR of 24.29% From 2024-2032.

Hydrogen Electrolysis are machines that divide water molecules into hydrogen and oxygen gasses by electrolysis using electricity. Water molecules disintegrate when an electric current is sent through them; hydrogen gas is collected at the cathode and oxygen gas is collected at the anode. The production of pure hydrogen for several industrial uses and energy storage options depends heavily on these electrolyzers.

• Electrolysis-generated hydrogen is becoming a sustainable energy carrier for various applications, including transportation, industrial operations, power production, and energy storage. This demand for high-quality hydrogen is driving significant investments in Electrolysers technology by both private and public sectors. For Instance, Europe aims to produce and import 20 million tons of renewable hydrogen by 2030, requiring a significant expansion of hydrogen technologies across sectors and the development of a dedicated European infrastructure for hydrogen production, storage, and transport.
• As the number of countries committed to achieving net zero emissions continues to rise, 131 countries, covering 88% of global greenhouse gas emissions, have announced targets by April 2022. The goal is to limit the global temperature increase to 1.5°C by 2050. This requires mitigating emissions from all energy end uses, with 70% achieved through energy efficiency, electrification, and renewables. For instance, Electrolysers are crucial for producing low-emission hydrogen from renewable or nuclear electricity. In 2022, the pace of new capacity entering operation slowed down by 45%, but Electrolysers manufacturing capacity increased by over 25%, reaching nearly 11 GW per year. The realization of all pipeline projects could lead to an installed electrolyser capacity of 170-365 GW by 2030.
• The need for hydrogen electrolysers is predicted to expand as a result of global carbon neutrality initiatives, government regulations, and investments. Industries are turning to hydrogen to satisfy decarbonization goals, and hydrogen infrastructure development is accelerating. Strategic collaborations and technical advancements boost market growth.

Hydrogen Electrolysers Market Trend Analysis

Increasing Demand for Green Hydrogen

• The market for hydrogen Electrolysers is expanding significantly due to the rising need for green hydrogen. This shift is the result of a global movement toward renewable energy sources and decarbonization. Reducing carbon emissions is an important goal for governments and organizations in the fight against climate change, and green hydrogen is emerging as an essential part of the provide. By generating up to 10 million tons of green hydrogen by 2030, for instance, the European Union's ambitious hydrogen policy seeks to drastically reduce CO2 emissions. ​

• For instance, Globally, the industry has announced more than 1,000 large-scale project proposals as of the end of January 2023. Since the previous publication, more than 350 new proposals have been announced. Of the total, 795 aim to be fully or partially commissioned through 2030 and represent total investments of USD 320 billion of direct investments into hydrogen value chains through 2030 (up from USD 240 billion).
• Green hydrogen is being increasingly adopted by industries like steel, chemicals, and transportation to decarbonize operations. In the steel industry, green hydrogen can replace coal, reducing carbon emissions. For Instance, the HYBRIT initiative, run by SSAB, LKAB, and Vattenfall, is focusing on producing a fossil-free sponge using green hydrogen, potentially cutting Sweden’s total carbon emissions by 10%. In transportation, fuel cell vehicles powered by green hydrogen offer a zero-emission alternative to traditional internal combustion engines, with companies like Toyota and Hyundai leading the charge in commercializing hydrogen fuel cell vehicles.

• Based on the pie chart provided, the green hydrogen production capacity until 2030 is distributed as follows, North America, with 70% of the capacity, followed by Asia-Pacific at 17%, Middle East and Africa at 8%, and Europe at 5%. This demonstrates North America's significant investment and commitment to renewable energy and decarbonization. The Asia-Pacific region, with its growing industrial base and renewable energy initiatives, also shows significant capacity. The Middle East and Africa, with their abundant renewable resources, contribute to the global green hydrogen landscape.

Focus on Renewable Energy Storage

• Electrolysers and hydrogenation technologies are widely used in industries and public life to achieve carbon neutrality. Electrochemical battery storage and hydrogen energy storage are used in vehicles, community energy supply, and grid stabilization due to their environment-friendly characteristics. Electrochemical battery storage stores electricity and discharges it for demand coverage, while hydrogen energy storage supplies power and heat through fuel cells with by-product water. Hydrogen is suitable for long-term storage, such as seasonal and annual storage, due to its high gravimetric density and stability.
• For Instance, Germany's WindGas project converts wind energy into hydrogen through electrolysis, which is then injected into the natural gas grid or used in industrial applications. In Australia, the Yara Pilbara Fertilizer plant uses solar power to produce green hydrogen, which is stored and used in ammonia production, demonstrating the potential of hydrogen storage to support both energy and industrial needs.
• Hydrogen storage is a promising solution for decentralized energy systems, allowing local storage and renewable energy usage. It reduces the need for costly grid infrastructure upgrades, benefiting rural and remote areas. The scalability of hydrogen storage allows for large-scale projects to store significant amounts of energy, supporting national grids, while smaller systems can be implemented in localized settings. This flexibility caters to diverse energy needs, from industrial complexes to individual households.

Hydrogen Electrolysers Market Segment Analysis:

Hydrogen Electrolysers Market is segmented on the basis of type, application, and end-users.

By Type, Proton Exchange Membrane Electrolysers segment is expected to dominate the market during the forecast period

• Proton exchange membrane (PEM) electrolysis is a crucial industrial method for capturing high-purity hydrogen for chemical applications and energy storage. This method is increasingly popular in Europe and other regions due to higher renewable energy penetration. Hydrogen can be used for power generation, natural gas grid supplementation, vehicle fueling, and as a high-value chemical feedstock for green fertilizer production. The cost and energy used in PEM Electrolysers manufacturing are primarily due to cell stack manufacturing processes. electrolysis technology uses liquid electrolyte and ion exchange membranes, which overcome the disadvantages of alkaline liquid systems by using deionized water as the carrier fluid and enabling differential pressure operation.
• PEM Electrolyserss are safe, reliable, and low-maintenance, making them suitable for various applications, including small-scale distributed hydrogen production units. They offer fast response times, making them ideal for dynamic operation and grid balancing. Their modular design allows for easy adaptation to varying production needs, making them a leading choice for hydrogen production, and ensuring market dominance in the forecast period.and

By Application, Low Capacity segment held the largest share of 53.22% in 2023

• The low segment is expected to largest share of the hydrogen Electrolysers market due to its versatility and compatibility with various applications. These Electrolyserss are ideal for hydrogen refueling stations, industrial processes, and energy storage systems. The demand for low outlet pressure Electrolysers, especially for fuel cell electric vehicles (FCEVs), is driven by the expansion of hydrogen refueling infrastructure. Low-pressure Electrolyserss are crucial for on-site hydrogen production at refueling stations, providing convenient and efficient refueling experiences for FCEV drivers.
• Their affordability, versatility, and technological advancements. These smaller Electrolysers are ideal for residential and commercial users and suitable for heating, power generation, and transportation. They can be easily integrated into existing infrastructure, making them more competitive and reliable for decentralized hydrogen production. This segment holds the largest share of the hydrogen electrolyzers market.

Hydrogen Electrolysers Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast Period

• North America is expected to dominate the hydrogen electrolyzers market due to its focus on clean energy initiatives and decarbonization in industries like transportation, power generation, and manufacturing. The US has invested in hydrogen-related projects, such as hydrogen fueling stations and partnerships between automakers and energy companies. Additionally, North America's robust technological infrastructure and established research and development ecosystem enable continuous innovation and improvement of hydrogen electrolysis technologies, making them more efficient and cost-effective over time. Advanced Electrolysers technologies are being deployed in pilot projects and commercial applications, showcasing their scalability and reliability.
• The U.S. government cemented its commitment to hydrogen and clean fuel technologies in 2023, aligning to achieve a carbon-neutral power sector by 2035 and net zero emissions by 2050. In addition, The Department of Energy (DOE) has launched a USD 7 billion program to develop regional clean hydrogen hubs across the US. These hubs aim to integrate hydrogen production, consumption, and distribution networks, reducing clean hydrogen costs and establishing a sustainable hydrogen market. The DOE selected specific projects for funding negotiations in October 2023 after a thorough evaluation process. North America's diverse industrial base uses hydrogen for refining, chemicals, steel, and transportation. Hydrogen Electrolyserss offer cost-effective, environmentally friendly hydrogen production, reducing emissions and enhancing energy efficiency.

Hydrogen Electrolysers Market Top Key Players:

• Giner Inc. (U.S.)
• Plug Power Inc. (U.S.)
• Bloom Energy (U.S.)
• Next Hydrogen (Canada)
• Ballard Power Systems (Canada)
• Siemens AG (Germany)
• iGas Energy GmbH (Germany)
• Enapter (Germany)
• ITM Power Plc (UK)
• Pure Energy Centre (UK)
• McPhy Energy (France)
• Air Liquide (France)
• Gaztransport & Technigaz (France)
• GreenHydrogen Systems (Denmark)
• Nel Hydrogen (Norway)
• Idroenergy (Italy)
• Erredue S.p.A (Italy)
• SwissHydrogen SA (Switzerland)
• Tianjin Mainland Hydrogen Equipment Co. Ltd (China)
• Beijing CEI Technology Co., Ltd. (China)
• Shandong Saikesaisi Hydrogen Energy Co Ltd. (China), and Other Major Players

Key Industry Developments in the Hydrogen Electrolysers Market:

• In May 2024, Plug Power Inc. a global leader in comprehensive hydrogen solutions for the green hydrogen economy, announced the signing of a memorandum of understanding (MOU) with Allied Green Ammonia (AGA), an Australian Company focused on green ammonia production, to supply up to 3 gigawatts (GW) of Plug Electrolysers capacity for AGA’s upcoming hydrogen to ammonia facility proposed for the Northern Territory of Australia.
• In November 2023, Air Liquide and Siemens Energy officially inaugurated their joint venture gigawatt Electrolysers factory today in Berlin. The mass production of Electrolysers components will allow the manufacturing of low-carbon hydrogen at an industrial scale and competitive cost, and foster an innovative European ecosystem. The state-of-the-art gigawatt factory will ramp up to an annual production capacity of three gigawatts by 2025. With two global leading companies in their field combining their expertise, this Franco-German partnership plays a pivotal role in the emergence of a sustainable hydrogen economy needed to forge the energy transition

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. HYDROGEN ELECTROLYSERS MARKET BY TYPE (2017-2032)
   1. HYDROGEN ELECTROLYSERS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. PROTON EXCHANGE MEMBRANE ELECTROLYSERS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. ALKALINE ELECTROLYSERS
   5. SOLID OXIDE ELECTROLYSERS
7. HYDROGEN ELECTROLYSERS MARKET BY CAPACITY (2017-2032)
   1. HYDROGEN ELECTROLYSERS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. LOW (<= 150 KW)
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. MEDIUM (150KW - 1MW)
   5. HIGH (> 1MW)
8. HYDROGEN ELECTROLYSERS MARKET BY OUTLET PRESSURE (2017-2032)
   1. HYDROGEN ELECTROLYSERS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. LOW (<= 10 BAR)
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. MEDIUM (150 BAR - 40 BAR)
   5. HIGH (> 40 BAR)
9. HYDROGEN ELECTROLYSERS MARKET BY END-USER (2017-2032)
   1. HYDROGEN ELECTROLYSERS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. METHANOL
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. REFINING/ HYDROCARBON
   5. AMMONIA
   6. ELECTRONICS
   7. FOOD & BEVERAGE
   8. OTHERS
10. HYDROGEN ELECTROLYSERS MARKET BY DISTRIBUTION CHANNEL (2017-2032)
    1. HYDROGEN ELECTROLYSERS MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. DIRECT SALES
       1. Introduction And Market Overview
       2. Historic And Forecasted Market Size in Value (2017 – 2032F)
       3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
       4. Key Market Trends, Growth Factors And Opportunities
       5. Geographic Segmentation Analysis
    4. INDIRECT SALES
11. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Positioning
       2. Hydrogen Electrolysers Market Share By Manufacturer (2023)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. GINER INC. (U.S.)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. PLUG POWER INC. (U.S.)
    4. BLOOM ENERGY (U.S.)
    5. NEXT HYDROGEN (CANADA)
    6. BALLARD POWER SYSTEMS (CANADA)
    7. SIEMENS AG (GERMANY)
    8. IGAS ENERGY GMBH (GERMANY)
    9. ENAPTER (GERMANY)
    10. ITM POWER PLC (UK)
    11. PURE ENERGY CENTRE (UK)
    12. MCPHY ENERGY (FRANCE)
    13. AIR LIQUIDE (FRANCE)
    14. GAZTRANSPORT & TECHNIGAZ (FRANCE)
    15. GREENHYDROGEN SYSTEMS (DENMARK)
    16. NEL HYDROGEN (NORWAY)
    17. IDROENERGY (ITALY)
    18. ERREDUE S.P.A (ITALY)
    19. SWISSHYDROGEN SA (SWITZERLAND)
    20. TIANJIN MAINLAND HYDROGEN EQUIPMENT CO. LTD (CHINA)
    21. BEIJING CEI TECHNOLOGY CO., LTD. (CHINA)
    22. SHANDONG SAIKESAISI HYDROGEN ENERGY CO LTD. (CHINA)
12. GLOBAL HYDROGEN ELECTROLYSERS MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Type
       4. Historic And Forecasted Market Size By Capacity
       5. Historic And Forecasted Market Size By Outlet Pressure
       6. Historic And Forecasted Market Size By End User
       7. Historic And Forecasted Market Size By Distribution Channel
       8. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
13. INVESTMENT ANALYSIS
14. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies