Market Overview:
The global electrolyzer market is expected to grow from USD 1.5 billion in 2018 to USD 3.8 billion by 2030, at a CAGR of 13.9% during the forecast period. The growth of the market can be attributed to the increasing demand for hydrogen as a fuel source and rising concerns about climate change and air pollution. Based on type, the traditional alkaline electroliser segment is expected to lead the global electrolyzer market during the forecast period. This growth can be attributed to its low cost and easy installation compared with other types of electrolyzers such as PEM electrolisers.
Product Definition:
An electrolyzer is a device that uses electricity to produce hydrogen and oxygen from water. The importance of electrolyzers is that they can be used to produce hydrogen for fuel cells or to power other devices.
Traditional Alkaline Electroliser:
Traditional alkaline electrolyser is an old technology used in household water softeners. It works on the basic principal of adding extra anion and cation to the water to make it acidic. The traditional alkaline electrolyser uses zinc or calcium as a base metal for adding acid, which reacts with magnesium sulfate (Epsom salt) added to the water. This process makes hard water easy and soft; making it fit for human consumption without any health issues related to drinking hard water.
PEM Electroliser:
PEM electrolyser is a device used in electrolyzer for producing electricity from chemical energy. It is also known as PEM or piezoelectric electric motor. Piezoelectricity generated by the cell can be utilized to generate electrical energy using transformer, which steps up (increases) or steps down (decreases) the voltage level of AC inputted into it.
Electrolyzer uses water as its working fluid and produces Hydrogen.
Application Insights:
The steel plant application segment led the market in 2017 and is projected to witness significant growth over the forecast period. The growing demand for steel from construction, automotive and other industries is expected to drive the product demand in this segment.
Electrolyzers find their major use in power plants as they produce high quality of electricity with low emissions compared to fossil-based plants. Increasing focus on renewable energy production has propelled growth of electrochemical industry which includes electrolyzer as it produces clean electricity from sources like solar, wind and water; thus driving its demand across various applications globally.
Power generation accounted for a major share due to increasing investments in renewable energy projects such as solar photovoltaic or wind farms coupled with government support policies that aim at reducing carbon footprint globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a growing demand for electricity generation owing to rapid industrialization, urbanization, and economic development. In addition, countries such as China and India are among the top 10 producers of PV modules globally. This can be attributed to high consumer awareness regarding renewable energy along with government support for FDI in emerging economies of Asia Pacific region.
North America accounted for a significant share in terms of revenue due to increasing investments by companies operating electrolyzers such as Wartsila Corporation (UPS), Avista Technologies Inc., PGE (USA) Inc., Clean Energy Fuels Corp., etc.; which resulted into increased production capacity from 2016 till mid-2017 period.
Growth Factors:
- Increasing demand for hydrogen as a fuel source
- Growing popularity of fuel cells
- Rising demand for clean energy sources
- Proliferation of electric vehicles
- Stringent environmental regulations
Scope Of The Report
Report Attributes
Report Details
Report Title
Electrolyzer Market Research Report
By Type
Traditional Alkaline Electroliser, PEM Electroliser
By Application
Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV's, Power to Gas, Others
By Companies
Proton On-Site, 718th Research Institute of CSIC, Teledyne Energy Systems, Hydrogenics, Nel Hydrogen, Suzhou Jingli, Beijing Zhongdian, McPhy, Siemens, TianJin Mainland, Areva H2gen, Shandong Saksay Hydrogen Energy, Yangzhou Chungdean Hydrogen Equipment, Asahi Kasei, Idroenergy Spa, Erredue SpA, ShaanXi HuaQin, Kobelco Eco-Solutions, ELB Elektrolysetechnik GmbH, ITM Power, Toshiba
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Electrolyzer Market Report Segments:
The global Electrolyzer market is segmented on the basis of:
Types
Traditional Alkaline Electroliser, PEM Electroliser
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV's, Power to Gas, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Proton On-Site
- 718th Research Institute of CSIC
- Teledyne Energy Systems
- Hydrogenics
- Nel Hydrogen
- Suzhou Jingli
- Beijing Zhongdian
- McPhy
- Siemens
- TianJin Mainland
- Areva H2gen
- Shandong Saksay Hydrogen Energy
- Yangzhou Chungdean Hydrogen Equipment
- Asahi Kasei
- Idroenergy Spa
- Erredue SpA
- ShaanXi HuaQin
- Kobelco Eco-Solutions
- ELB Elektrolysetechnik GmbH
- ITM Power
- Toshiba
Highlights of The Electrolyzer Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Traditional Alkaline Electroliser
- PEM Electroliser
- By Application:
- Power Plants
- Steel Plant
- Electronics and Photovoltaics
- Industrial Gases
- Energy Storage or Fueling for FCEV's
- Power to Gas
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electrolyzer Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An electrolyzer is a device that converts electricity into hydrogen and oxygen gas.
Some of the key players operating in the electrolyzer market are Proton On-Site, 718th Research Institute of CSIC, Teledyne Energy Systems, Hydrogenics, Nel Hydrogen, Suzhou Jingli, Beijing Zhongdian, McPhy, Siemens, TianJin Mainland, Areva H2gen, Shandong Saksay Hydrogen Energy, Yangzhou Chungdean Hydrogen Equipment, Asahi Kasei, Idroenergy Spa, Erredue SpA, ShaanXi HuaQin, Kobelco Eco-Solutions, ELB Elektrolysetechnik GmbH, ITM Power, Toshiba.
The electrolyzer market is expected to grow at a compound annual growth rate of 13.9%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electrolyzer Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electrolyzer Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electrolyzer Market - Supply Chain
4.5. Global Electrolyzer Market Forecast
4.5.1. Electrolyzer Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electrolyzer Market Size (000 Units) and Y-o-Y Growth
4.5.3. Electrolyzer Market Absolute $ Opportunity
5. Global Electrolyzer Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Electrolyzer Market Size and Volume Forecast by Type
5.3.1. Traditional Alkaline Electroliser
5.3.2. PEM Electroliser
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Electrolyzer Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Electrolyzer Market Size and Volume Forecast by Application
6.3.1. Power Plants
6.3.2. Steel Plant
6.3.3. Electronics and Photovoltaics
6.3.4. Industrial Gases
6.3.5. Energy Storage or Fueling for FCEV's
6.3.6. Power to Gas
6.3.7. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Electrolyzer Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Electrolyzer Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Electrolyzer Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Electrolyzer Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Electrolyzer Demand Share Forecast, 2019-2026
9. North America Electrolyzer Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Electrolyzer Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Electrolyzer Market Size and Volume Forecast by Application
9.4.1. Power Plants
9.4.2. Steel Plant
9.4.3. Electronics and Photovoltaics
9.4.4. Industrial Gases
9.4.5. Energy Storage or Fueling for FCEV's
9.4.6. Power to Gas
9.4.7. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Electrolyzer Market Size and Volume Forecast by Type
9.7.1. Traditional Alkaline Electroliser
9.7.2. PEM Electroliser
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Electrolyzer Demand Share Forecast, 2019-2026
10. Latin America Electrolyzer Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Electrolyzer Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Electrolyzer Market Size and Volume Forecast by Application
10.4.1. Power Plants
10.4.2. Steel Plant
10.4.3. Electronics and Photovoltaics
10.4.4. Industrial Gases
10.4.5. Energy Storage or Fueling for FCEV's
10.4.6. Power to Gas
10.4.7. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Electrolyzer Market Size and Volume Forecast by Type
10.7.1. Traditional Alkaline Electroliser
10.7.2. PEM Electroliser
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Electrolyzer Demand Share Forecast, 2019-2026
11. Europe Electrolyzer Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Electrolyzer Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Electrolyzer Market Size and Volume Forecast by Application
11.4.1. Power Plants
11.4.2. Steel Plant
11.4.3. Electronics and Photovoltaics
11.4.4. Industrial Gases
11.4.5. Energy Storage or Fueling for FCEV's
11.4.6. Power to Gas
11.4.7. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Electrolyzer Market Size and Volume Forecast by Type
11.7.1. Traditional Alkaline Electroliser
11.7.2. PEM Electroliser
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Electrolyzer Demand Share, 2019-2026
12. Asia Pacific Electrolyzer Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Electrolyzer Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Electrolyzer Market Size and Volume Forecast by Application
12.4.1. Power Plants
12.4.2. Steel Plant
12.4.3. Electronics and Photovoltaics
12.4.4. Industrial Gases
12.4.5. Energy Storage or Fueling for FCEV's
12.4.6. Power to Gas
12.4.7. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Electrolyzer Market Size and Volume Forecast by Type
12.7.1. Traditional Alkaline Electroliser
12.7.2. PEM Electroliser
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Electrolyzer Demand Share, 2019-2026
13. Middle East & Africa Electrolyzer Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Electrolyzer Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Electrolyzer Market Size and Volume Forecast by Application
13.4.1. Power Plants
13.4.2. Steel Plant
13.4.3. Electronics and Photovoltaics
13.4.4. Industrial Gases
13.4.5. Energy Storage or Fueling for FCEV's
13.4.6. Power to Gas
13.4.7. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Electrolyzer Market Size and Volume Forecast by Type
13.7.1. Traditional Alkaline Electroliser
13.7.2. PEM Electroliser
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Electrolyzer Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Electrolyzer Market: Market Share Analysis
14.2. Electrolyzer Distributors and Customers
14.3. Electrolyzer Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Proton On-Site
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. 718th Research Institute of CSIC
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Teledyne Energy Systems
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hydrogenics
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Nel Hydrogen
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Suzhou Jingli
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Beijing Zhongdian
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. McPhy
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Siemens
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. TianJin Mainland
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Areva H2gen
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Shandong Saksay Hydrogen Energy
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Yangzhou Chungdean Hydrogen Equipment
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Asahi Kasei
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Idroenergy Spa
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Erredue SpA
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. ShaanXi HuaQin
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Kobelco Eco-Solutions
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. ELB Elektrolysetechnik GmbH
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. ITM Power
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook