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1390867

電解槽市場レポート:製品・容量・用途・地域別、2023-2028年

Electrolyzer Market Report by Product, Capacity, Application, and Region 2023-2028

出版日: | 発行: IMARC | ページ情報: 英文 147 Pages | 納期: 2~3営業日

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価格
価格表記: USDを日本円(税抜)に換算
本日の銀行送金レート: 1USD=155.76円
電解槽市場レポート:製品・容量・用途・地域別、2023-2028年
出版日: 2023年11月24日
発行: IMARC
ページ情報: 英文 147 Pages
納期: 2~3営業日
  • 全表示
  • 概要
  • 図表
  • 目次
概要

概要

世界の電解槽市場規模は2022年に4億6,170万米ドルに達しました。今後、IMARC Groupは、市場は2028年までに7億9,630万米ドルに達し、2022年から2028年の間に9.51%の成長率(CAGR)を示すと予測しています。再生可能エネルギーを推進する政府の数多くのイニシアティブ、様々な分野での水素需要の高まり、持続可能な開発への焦点の強化、技術の継続的な進歩は、市場を推進する主な要因の一部です。

電解槽は、電気分解として知られる電気化学的プロセスを利用して、水やその他の化合物を構成元素に分解する装置です。電解槽は電解質溶液と2つの電極で構成され、通常、金属や金属酸化物などの導電性材料で作られています。電解液に電流を流すと、電極で化学反応が起こる。電解質は、クリーンで汎用性の高いエネルギーキャリアである水素の製造に重要な役割を果たします。再生可能な電力を利用することで、燃料電池、エネルギー貯蔵、輸送、工業プロセスなどの用途で大きな可能性を秘めたグリーン水素を製造することができます。

再生可能エネルギー源の統合は、市場の重要な促進要因です。太陽光発電や風力発電などの再生可能エネルギー発電は、断続的な発電パターンを示します。電解槽は、発電量が多い期間に、余剰の再生可能エネルギーを水の電気分解によって水素に変換するソリューションを提供します。このプロセスは、エネルギー貯蔵とグリッド・バランシングを可能にし、再生可能エネルギーの断続性の課題に効果的に対処します。さらに、輸送、暖房、発電の燃料として水素を利用することへの関心の高まりが、市場に明るい見通しをもたらしています。さらに、鉄鋼生産、アンモニア生産、合成燃料などのさまざまな用途で、炭素排出を削減するための水素の統合が模索されており、これが市場の成長を後押ししています。技術の継続的な進歩は、世界市場の拡大にさらに貢献しています。

電解槽市場の動向と促進要因:

有利な政府のイニシアチブと政策

数々の有利な政府の取り組みや政策の実施は、市場に大きな影響を与えています。世界各国は再生可能エネルギーの導入と脱炭素戦略を積極的に推進しており、電解槽はこうした取り組みにおいて重要な役割を果たしています。各国政府は、電解槽の導入と水素製造を促進するために、補助金、助成金、税制優遇措置、有利な規制などの支援政策を実施しています。これらのイニシアチブは、電解技術への投資を刺激し、研究開発を奨励し、市場環境を整えることを目的としています。強力な政府支援の存在は、投資家と利害関係者に安定と信頼をもたらし、市場の成長を促進します。

水素需要の増大

水素需要の増大も市場を牽引する重要な要因です。水素は、輸送、産業、発電など様々な分野の脱炭素化を実現する可能性を秘めた、クリーンで汎用性の高いエネルギーキャリアとして注目を集めています。水素の製造、特に再生可能エネルギー源を利用した電気分解によって生成されるグリーン水素の製造には不可欠です。燃料電池の燃料、工業プロセスの原料、再生可能エネルギーの貯蔵媒体としての水素需要の高まりは、メーカーに大きな市場機会をもたらしています。持続可能なエネルギーソリューションとしての水素への関心の高まりが、技術への投資を促進し、市場の拡大に寄与しています。

技術の進歩とコスト削減

技術の進歩とコスト削減が市場成長の主な原動力となっています。長年にわたり、効率性、拡張性、耐久性の向上につながる技術の進歩が著しいです。研究開発の努力は、触媒材料、膜技術、電極設計、システム統合の強化に集中してきました。これらの進歩は、より高い性能、より長いシステム寿命、メンテナンス要件の低減をもたらしました。システムのコストが下がり続けるにつれて、経済的に実行可能になり、より幅広い用途や産業にとって魅力的なものとなっています。継続的な技術の進歩とコスト削減努力は市場競争力を強化し、それによって市場は世界的に拡大しています。

本レポートで扱う主な質問

  • 世界の電解槽市場はこれまでどのように推移してきたか?
  • 世界の電解槽市場における促進要因、抑制要因、機会は何か?
  • 各駆動要因、抑制要因、機会が世界の電解槽市場に与える影響は?
  • 主要な地域市場は?
  • 最も魅力的な電解槽市場はどの国か?
  • 製品別の市場内訳は?
  • 電解槽市場で最も魅力的な製品は?
  • 容量別の市場内訳は?
  • 電解槽市場で最も魅力的な容量は?
  • 用途別の市場内訳は?
  • 電解槽市場で最も魅力的な用途は?
  • 世界の電解槽市場の競争構造は?
  • 世界の電解槽市場における主要プレイヤー/企業は?

目次

第1章 序文

第2章 調査範囲と調査手法

  • 調査目的
  • 利害関係者
  • データソース
    • 一次情報
    • 二次情報
  • 市場推定
    • ボトムアップアプローチ
    • トップダウンアプローチ
  • 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

  • 概要
  • 主要産業動向

第5章 世界の電解槽市場

  • 市場概要
  • 市場実績
  • COVID-19の影響
  • 市場予測

第6章 市場内訳:製品別

  • アルカリ電解槽
    • 市場動向
    • 市場展望
  • PEM電解槽
    • 市場動向
    • 市場予測
  • 固体酸化物電解槽
    • 市場動向
    • 市場予測

第7章 市場内訳:容量別

  • 500kW未満
    • 市場動向
    • 市場予測
  • 500kW以上2MW未満
    • 市場動向
    • 市場予測
  • 2MW以上
    • 市場動向
    • 市場予測

第8章 市場内訳:用途別

  • 発電
    • 市場動向
    • 市場予測
  • 運輸
    • 市場動向
    • 市場予測
  • エネルギー産業
    • 市場動向
    • 市場予測
  • 業界原料
    • 市場動向
    • 市場予測
  • ビル熱電併給
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測

第9章 市場内訳:地域別

  • 北米
    • 米国
      • 市場動向
      • 市場予測
    • カナダ
      • 市場動向
      • 市場予測
  • アジア太平洋
    • 中国
      • 市場動向
      • 市場予測
    • 日本
      • 市場動向
      • 市場予測
    • インド
      • 市場動向
      • 市場予測
    • 韓国
      • 市場動向
      • 市場予測
    • オーストラリア
      • 市場動向
      • 市場予測
    • インドネシア
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • 欧州
    • ドイツ
      • 市場動向
      • 市場予測
    • フランス
      • 市場動向
      • 市場予測
    • 英国
      • 市場動向
      • 市場予測
    • イタリア
      • 市場動向
      • 市場予測
    • スペイン
      • 市場動向
      • 市場予測
    • ロシア
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • ラテンアメリカ
    • ブラジル
      • 市場動向
      • 市場予測
    • メキシコ
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • 中東・アフリカ地域
    • 市場動向
    • 市場内訳:国別
    • 市場予測

第10章 SWOT分析

  • 概要
  • 強み
  • 弱み
  • 機会
  • 脅威

第11章 バリューチェーン分析

第12章 ポーターのファイブフォース分析

  • 概要
  • 買い手の交渉力
  • 供給企業の交渉力
  • 競合の程度
  • 新規参入業者の脅威
  • 代替品の脅威

第13章 価格分析

第14章 競合情勢

  • 市場構造
  • 主要企業
  • 主要企業のプロファイル
    • Air Liquide S.A.
    • Air Products and Chemicals Inc.
    • Asahi Kasei Corporation
    • Cummins Inc.
    • ITM Power plc
    • Linde plc
    • McPhy Energy S.A.
    • Nel ASA
    • Plug Power Inc.
    • Siemens AG
    • Titanium Tantalum Products Limited
    • Toshiba Corporation
図表

List of Figures

  • Figure 1: Global: Electrolyzer Market: Major Drivers and Challenges
  • Figure 2: Global: Electrolyzer Market: Sales Value (in Million US$), 2017-2022
  • Figure 3: Global: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 4: Global: Electrolyzer Market: Breakup by Product (in %), 2022
  • Figure 5: Global: Electrolyzer Market: Breakup by Capacity (in %), 2022
  • Figure 6: Global: Electrolyzer Market: Breakup by Application (in %), 2022
  • Figure 7: Global: Electrolyzer Market: Breakup by Region (in %), 2022
  • Figure 8: Global: Electrolyzer (Alkaline Electrolyzer) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 9: Global: Electrolyzer (Alkaline Electrolyzer) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 10: Global: Electrolyzer (PEM Electrolyzer) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 11: Global: Electrolyzer (PEM Electrolyzer) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 12: Global: Electrolyzer (Solid Oxide Electrolyzer) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 13: Global: Electrolyzer (Solid Oxide Electrolyzer) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 14: Global: Electrolyzer (Less than 500 kW) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 15: Global: Electrolyzer (Less than 500 kW) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 16: Global: Electrolyzer (500 kW to 2 MW) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 17: Global: Electrolyzer (500 kW to 2 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 18: Global: Electrolyzer (Above 2 MW) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 19: Global: Electrolyzer (Above 2 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 20: Global: Electrolyzer (Power Generation) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 21: Global: Electrolyzer (Power Generation) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 22: Global: Electrolyzer (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 23: Global: Electrolyzer (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 24: Global: Electrolyzer (Industry Energy) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 25: Global: Electrolyzer (Industry Energy) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 26: Global: Electrolyzer (Industry Feedstock) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 27: Global: Electrolyzer (Industry Feedstock) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 28: Global: Electrolyzer (Building Heat and Power) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 29: Global: Electrolyzer (Building Heat and Power) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 30: Global: Electrolyzer (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 31: Global: Electrolyzer (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 32: North America: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 33: North America: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 34: United States: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 35: United States: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 36: Canada: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 37: Canada: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 38: Asia-Pacific: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 39: Asia-Pacific: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 40: China: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 41: China: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 42: Japan: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 43: Japan: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 44: India: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 45: India: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 46: South Korea: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 47: South Korea: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 48: Australia: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 49: Australia: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 50: Indonesia: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 51: Indonesia: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 52: Others: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 53: Others: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 54: Europe: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 55: Europe: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 56: Germany: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 57: Germany: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 58: France: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 59: France: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 60: United Kingdom: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 61: United Kingdom: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 62: Italy: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 63: Italy: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 64: Spain: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 65: Spain: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 66: Russia: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 67: Russia: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 68: Others: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 69: Others: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 70: Latin America: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 71: Latin America: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 72: Brazil: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 73: Brazil: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 74: Mexico: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 75: Mexico: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 76: Others: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 77: Others: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 78: Middle East and Africa: Electrolyzer Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 79: Middle East and Africa: Electrolyzer Market: Breakup by Country (in %), 2022
  • Figure 80: Middle East and Africa: Electrolyzer Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 81: Global: Electrolyzer Industry: SWOT Analysis
  • Figure 82: Global: Electrolyzer Industry: Value Chain Analysis
  • Figure 83: Global: Electrolyzer Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Electrolyzer Market: Key Industry Highlights, 2022 and 2028
  • Table 2: Global: Electrolyzer Market Forecast: Breakup by Product (in Million US$), 2023-2028
  • Table 3: Global: Electrolyzer Market Forecast: Breakup by Capacity (in Million US$), 2023-2028
  • Table 4: Global: Electrolyzer Market Forecast: Breakup by Application (in Million US$), 2023-2028
  • Table 5: Global: Electrolyzer Market Forecast: Breakup by Region (in Million US$), 2023-2028
  • Table 6: Global: Electrolyzer Market: Competitive Structure
  • Table 7: Global: Electrolyzer Market: Key Players
目次
Product Code: SR112023A4752

Abstract

The global electrolyzer market size reached US$ 461.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 796.3 Million by 2028, exhibiting a growth rate (CAGR) of 9.51% during 2022-2028. Numerous government initiatives promoting renewable energy, the growing demand for hydrogen in various sectors, an enhanced focus on sustainable development and continual advancements in technologies are some of the major factors propelling the market.

An electrolyzer is a device that utilizes an electrochemical process known as electrolysis to split water or other compounds into their constituent elements. It consists of an electrolyte solution and two electrodes, typically made of conductive materials such as metals or metal oxides. When an electric current is passed through the electrolyte, it triggers chemical reactions at the electrodes. They play a crucial role in the production of hydrogen, which is considered a clean and versatile energy carrier. By utilizing renewable electricity, they can produce green hydrogen, which has significant potential in applications such as fuel cells, energy storage, transportation, and industrial processes.

The integration of renewable energy sources is a significant driving factor for the market. Renewable energy, such as solar and wind power, exhibits intermittent generation patterns. Electrolyzers provide a solution for converting excess renewable energy into hydrogen through water electrolysis during periods of high generation. This process allows for energy storage and grid balancing, effectively addressing the intermittency challenge of renewables. Moreover, the growing interest in utilizing hydrogen as a fuel for transportation, heating, and power generation is creating a positive outlook for the market. Additionally, various applications like steel production, ammonia production, and synthetic fuels are exploring the integration of hydrogen to reduce carbon emissions, which is propelling the market growth. Continual advancements in technologies are further contributing to the expansion of the global market.

Electrolyzer Market Trends/Drivers:

Favorable Government Initiatives and Policies

The implementation of numerous favorable government initiatives and policies have a significant impact on the market. Various countries around the world are actively promoting the adoption of renewable energy sources and decarbonization strategies, and electrolyzers play a crucial role in these efforts. Governments are implementing supportive policies such as subsidies, grants, tax incentives, and favorable regulations to accelerate the deployment of electrolyzers and the production of hydrogen. These initiatives aim to stimulate investment in electrolysis technologies, encourage research and development, and create a conducive market environment. The presence of robust government support provides stability and confidence for investors and stakeholders, fostering the growth of the market.

Growing Demand for Hydrogen

The increasing demand for hydrogen is another key factor driving the market. Hydrogen is gaining attention as a clean and versatile energy carrier with the potential to decarbonize various sectors such as transportation, industry, and power generation. They are essential for the production of hydrogen, especially green hydrogen, which is generated through electrolysis using renewable energy sources. The rising demand for hydrogen as a fuel for fuel cells, a feedstock for industrial processes, and a storage medium for renewable energy is creating a significant market opportunity for manufacturers. The growing interest in hydrogen as a sustainable energy solution is driving investments in technologies and contributing to the expansion of the market.

Technological Advancements and Cost Reduction

Technological advancements and cost reduction is majorly driving the market growth. Over the years, significant progress has been made in technologies, leading to improved efficiency, scalability, and durability. Research and development efforts have focused on enhancing catalyst materials, membrane technologies, electrode designs, and system integration. These advancements have resulted in higher performance, increased system lifetimes, and reduced maintenance requirements. As the costs of systems continue to decline, they become more economically viable and attractive to a wider range of applications and industries. Continual technological advancements and cost reduction efforts are augmenting market competitiveness, thereby expanding the market globally.

Electrolyzer Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global electrolyzer market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product, capacity and application.

Breakup by Product:

Alkaline Electrolyzer

PEM Electrolyzer

Solid Oxide Electrolyzer

Alkaline electrolyzer represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the product. This includes alkaline, PEM, and solid oxide electrolyzers. According to the report, alkaline electrolyzer represented the largest segment.

Alkaline electrolyzers are relatively cost efficient as compared to other types. This makes them an attractive option for applications where the primary focus is on producing hydrogen at a lower cost. The cost advantage of alkaline variants stems from the use of abundant and inexpensive materials, such as nickel-based catalysts, in the electrode construction. They also have high efficiency levels, contributing to their popularity. They can achieve high current densities, resulting in greater hydrogen production rates per unit of size. This efficiency makes them suitable for applications with high hydrogen demand, such as industrial processes and large-scale energy storage. Furthermore, their enhanced reliability and durability are contributing to their increased uptake. Their robust design and simpler operation make them less prone to performance issues and easier to maintain.

Breakup by Capacity:

Less than 500 kW

500 kW to 2 MW

Above 2 MW

500 kW to 2 MW accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the capacity. This includes Less than 500 kW, 500 kW to 2 MW, and Above 2 MW. According to the report, 500 kW to 2 MW represented the largest segment.

Electrolyzers within the 500 kW to 2 MW range are considered suitable for a wide range of applications, including industrial processes, energy storage, and hydrogen production for fueling stations. They offer a significant capacity to meet the demand for hydrogen in various sectors while remaining manageable in terms of installation space, operational requirements, and cost. Additionally, this capacity range aligns well with the needs of the emerging hydrogen economy. As the demand for hydrogen continues to grow, particularly in industries aiming to reduce carbon emissions and transition to cleaner energy sources, products in the 500 kW to 2 MW range provide a viable solution. They can cater to mid-sized hydrogen production requirements and contribute to the scaling up of hydrogen infrastructure.

Breakup by Application:

Power Generation

Transportation

Industry Energy

Industry Feedstock

Building Heat and Power

Others

Power generation represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes power generation, transportation, industry energy, industry feedstock, building heat and power, and others. According to the report, power generation represented the largest segment.

One of the main drivers for the significant product adoption in the power generation sector is the increasing focus on renewable energy integration. By utilizing excess renewable energy during periods of high generation, electrolyzers can convert and store it as hydrogen. This stored hydrogen can then be used as a flexible and clean energy source for power generation when renewable energy supply is low or intermittent. They enable the coupling of renewable energy sources with hydrogen production, thereby contributing to a more sustainable and reliable power generation system. Additionally, They offer a potential solution for the long-term storage of renewable energy. As renewable energy sources are subject to fluctuations and seasonal variations, electrolyzers can store the surplus energy during periods of high production and convert it into hydrogen, which can be stored for an extended period. This stored hydrogen can then be utilized during times of high demand or low renewable energy availability, ensuring a stable and continuous power supply.

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Europe exhibits a clear dominance, accounting for the largest electrolyzer market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Europe is continually making efforts to encourage renewable energy adoption and decarbonization. The region aims to reduce greenhouse gas emissions and transition to cleaner energy sources. This focus on sustainability has created a favorable environment for the development and deployment of electrolyzers, which are essential for renewable energy integration and hydrogen production. Several countries in this region have implemented supportive policies, such as feed-in tariffs, subsidies, and carbon pricing mechanisms, to incentivize the adoption of technologies and promote the growth of the hydrogen economy.

Moreover, Europe has a well-developed infrastructure and market for hydrogen. The region has made significant investments in hydrogen refueling stations, hydrogen-powered transportation, and hydrogen utilization in industrial processes. This existing infrastructure provides a solid foundation for the expansion of electrolyzer installations and the wider adoption of hydrogen as an energy carrier.

Competitive Landscape:

Top companies in the market are investing in research and development activities to improve technologies, enhance efficiency, increase durability, and reduce costs. R&D efforts focus on developing advanced materials, catalysts, and membrane technologies to optimize performance and address key challenges in the industry. They are continually developing and commercializing new models with improved features and capabilities. This includes developing products with higher production capacities, better integration with renewable energy sources, enhanced control systems, and improved safety features. The aim is to meet the evolving demands of various industries and applications. Apart from this, these major players are also forming partnerships and collaborations with other industry players, research institutions, and energy companies to leverage expertise, share knowledge, and accelerate technology development. Collaborations enable companies to access new markets, jointly conduct research projects, and facilitate the integration of products into broader hydrogen value chains.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Air Liquide S.A.

Air Products and Chemicals Inc.

Asahi Kasei Corporation

Cummins Inc.

ITM Power plc

Linde plc

McPhy Energy S.A.

Nel ASA

Plug Power Inc.

Siemens AG

Titanium Tantalum Products Limited

Toshiba Corporation

Recent Developments:

In 2022, Siemens AG secured an order from European Energy, a Danish developer and operator of green energy projects, for the delivery of an electrolyzer plant. The company is developing a large-scale commercial production facility of e-methanol, wherein the hydrogen will be provided by the 50 mega-watt (MW) plant by Siemens Energy. This is a crucial moment in the green transition as these companies aim to move forward with the decarbonization of the shipping industry.

Cummins Inc. announced the launch of Accelera by Cummins, a new brand for its New Power business unit, in 2023. It is expected to provide a diverse portfolio of zero-emissions solutions while empowering customers to accelerate their transition to a sustainable future. This will assist the company in achieving industry-wide decarbonization across diverse applications.

Air Liquide S.A. and Siemens AG formed a joint venture in 2022 for the European production of large-scale renewable hydrogen electrolyzers. Both the companies have agreed to offer R&D capacities to the co-development of next generation technologies within the framework of the partnership.

Key Questions Answered in This Report:

  • How has the global electrolyzer market performed so far, and how will it perform in the coming years?
  • What are the drivers, restraints, and opportunities in the global electrolyzer market?
  • What is the impact of each driver, restraint, and opportunity on the global electrolyzer market?
  • What are the key regional markets?
  • Which countries represent the most attractive electrolyzer market?
  • What is the breakup of the market based on the product?
  • Which is the most attractive product in the electrolyzer market?
  • What is the breakup of the market based on the capacity?
  • Which is the most attractive capacity in the electrolyzer market?
  • What is the breakup of the market based on the application?
  • Which is the most attractive application in the electrolyzer market?
  • What is the competitive structure of the global electrolyzer market?
  • Who are the key players/companies in the global electrolyzer market?

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Electrolyzer Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Product

  • 6.1 Alkaline Electrolyzer
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 PEM Electrolyzer
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Solid Oxide Electrolyzer
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast

7 Market Breakup by Capacity

  • 7.1 Less than 500 kW
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 500 kW to 2 MW
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Above 2 MW
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast

8 Market Breakup by Application

  • 8.1 Power Generation
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Transportation
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Industry Energy
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast
  • 8.4 Industry Feedstock
    • 8.4.1 Market Trends
    • 8.4.2 Market Forecast
  • 8.5 Building Heat and Power
    • 8.5.1 Market Trends
    • 8.5.2 Market Forecast
  • 8.6 Others
    • 8.6.1 Market Trends
    • 8.6.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 Air Liquide S.A.
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
      • 14.3.1.3 Financials
      • 14.3.1.4 SWOT Analysis
    • 14.3.2 Air Products and Chemicals Inc.
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
      • 14.3.2.3 Financials
      • 14.3.2.4 SWOT Analysis
    • 14.3.3 Asahi Kasei Corporation
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
      • 14.3.3.3 Financials
      • 14.3.3.4 SWOT Analysis
    • 14.3.4 Cummins Inc.
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
      • 14.3.4.3 Financials
      • 14.3.4.4 SWOT Analysis
    • 14.3.5 ITM Power plc
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
      • 14.3.5.3 Financials
      • 14.3.5.4 SWOT Analysis
    • 14.3.6 Linde plc
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
      • 14.3.6.3 Financials
    • 14.3.7 McPhy Energy S.A.
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
      • 14.3.7.3 Financials
    • 14.3.8 Nel ASA
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
      • 14.3.8.3 Financials
    • 14.3.9 Plug Power Inc.
      • 14.3.9.1 Company Overview
      • 14.3.9.2 Product Portfolio
      • 14.3.9.3 Financials
    • 14.3.10 Siemens AG
      • 14.3.10.1 Company Overview
      • 14.3.10.2 Product Portfolio
      • 14.3.10.3 Financials
      • 14.3.10.4 SWOT Analysis
    • 14.3.11 Titanium Tantalum Products Limited
      • 14.3.11.1 Company Overview
      • 14.3.11.2 Product Portfolio
    • 14.3.12 Toshiba Corporation
      • 14.3.12.1 Company Overview
      • 14.3.12.2 Product Portfolio
      • 14.3.12.3 Financials
      • 14.3.12.4 SWOT Analysis