Product Code: MCN1907SS
Introduction to Europe Power Supply Equipment Market for Water Electrolysis
The Europe power supply equipment market (excluding U.K.) for water electrolysis was valued at $191.5 million in 2023, and it is expected to grow at a CAGR of 30.43% and reach $2,092.6 million by 2032. Supportive government initiatives, stringent net zero goals, and increasing interest in hydrogen fuel cell vehicles, green ammonia, green methanol, and similar applications are anticipated to fuel the growth of the power supply equipment market for water electrolysis.
KEY MARKET STATISTICS |
Forecast Period | 2023 - 2032 |
2023 Evaluation | $191.5 Million |
2032 Forecast | $2,092.6 Million |
CAGR | 30.43% |
Market Introduction
The Europe power supply equipment market for water electrolysis is poised for significant growth driven by various factors. Supportive government policies, including subsidies, incentives, and regulatory frameworks aimed at promoting renewable energy and achieving carbon neutrality, are serving as key drivers. The continent's ambitious net zero targets, coupled with increasing awareness of the importance of decarbonization, are further propelling demand for power supply equipment for water electrolysis. Moreover, the rising adoption of hydrogen fuel cell vehicles, as well as the growing demand for green hydrogen in industries such as transportation, manufacturing, and energy production, is contributing to market expansion. Additionally, the emergence of applications like green ammonia and green methanol is boosting the demand for electrolysis equipment. As a result, manufacturers and stakeholders in the Europe power supply equipment market for water electrolysis are poised to capitalize on these opportunities and play a pivotal role in facilitating the transition towards a sustainable and low-carbon economy.
Market Segmentation:
Segmentation 1: by Application
- Alkaline Electrolyzer
- Proton Exchange Membrane (PEM) Electrolyzer
- Solid Oxide Electrolytic Cell (SOEC) Electrolyzer
- Anion Exchange Membrane (AEM) Electrolyzer
Segmentation 2: by Equipment Type
- Rectifier
- Thyristor Rectifier
- IGBT Rectifier
- Others
- Transformer
- Others
Segmentation 3: by Country
- Germany
- France
- Spain
- Netherlands
- Rest-of-Europe
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the power supply equipment used in the water electrolysis process, including rectifiers, transformers, and others. Moreover, the study provides the reader with a detailed understanding of the power supply equipment market for water electrolysis by different applications (alkaline electrolyzer, proton exchange membrane (PEM) electrolyzer, solid oxide electrolytic cell (SOEC) electrolyzer, and anion exchange membrane (AEM) electrolyzer).
Growth/Marketing Strategy: The power supply equipment market for water electrolysis has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include partnerships, agreements, and collaborations.
Competitive Strategy: The key players in the power supply equipment market for water electrolysis analyzed and profiled in the study involve power supply equipment manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the Europe power supply equipment market for water electrolysis has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Some of the prominent names established in this market are:
- AEG Power Solutions B.V.
- Ingeteam
- Comeca Group
- Nidec Industrial Solutions
- Danfoss Drives
- Prodrive Technologies
- FRIEM SPA
- ABB
- KraftPowercon
- Mak Plus Power Systems
- MUNK GmbH
Table of Contents
Executive Summary
Scope of the Study
1 Markets
- 1.1 Industry Outlook
- 1.1.1 Trends: Current and Future
- 1.1.1.1 Rising Interest in Green Hydrogen as a Clean Energy Source
- 1.1.1.2 Advancements in Power Electronics
- 1.1.2 Supply Chain Analysis
- 1.1.3 Ecosystem of Power Supply Equipment Market for Water Electrolysis
- 1.1.3.1 Consortiums and Associations
- 1.1.3.2 Regulatory/Certification Bodies
- 1.1.3.3 Government Programs
- 1.1.4 Total Addressable Market for Hydrogen & Serviceable Market for Electrolyzer, by 2050
- 1.1.5 Key Strategies Adopted Across Globe: Sustainable Hydrogen
- 1.1.6 Recent and Upcoming Key Green Hydrogen Projects (2020-2024)
- 1.1.7 Impact of COVID-19 on the Power Supply Equipment Market for Water Electrolysis
- 1.2 Snapshot of Water Electrolysis Market
- 1.2.1 Leading Countries in the Water Electrolysis Market
- 1.2.2 Leading Companies in the Water Electrolysis Market
- 1.2.3 Water Electrolysis Market Projections
- 1.3 Snapshot of Green Hydrogen Market
- 1.3.1 Leading Countries in the Green Hydrogen Market
- 1.3.2 Leading Companies in the Green Hydrogen Market
- 1.3.3 Green Hydrogen Market Projections
- 1.4 Business Dynamics
- 1.4.1 Business Drivers
- 1.4.1.1 Shift toward Renewable Energy Integration
- 1.4.1.2 Government Support for Renewable Hydrogen Production
- 1.4.2 Business Challenges
- 1.4.2.1 Expensive Hydrogen Technology
- 1.4.2.2 High Energy Losses during the Electrolysis Process
- 1.4.3 Business Strategies
- 1.4.4 Product Developments
- 1.4.5 Market Developments
- 1.4.6 Corporate Strategies
- 1.4.7 Mergers and Acquisitions
- 1.4.8 Partnerships and Joint Ventures
- 1.4.9 Business Opportunities
- 1.4.9.1 Advancements in Electrolysis Technology
- 1.4.9.2 Lucrative Demand for Water Electrolysis from End-User Industries
- 1.5 Start-Up Landscape
- 1.5.1 Key Start-Ups in the Ecosystem
2 Region
- 2.1 Europe
- 2.1.1 Market
- 2.1.1.1 Key Producers and Suppliers in Europe
- 2.1.1.2 Business Drivers
- 2.1.1.3 Business Challenges
- 2.1.2 Application
- 2.1.2.1 Europe Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
- 2.1.3 Product
- 2.1.3.1 Europe Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
- 2.1.4 Europe (by Country)
- 2.1.4.1 Germany
- 2.1.4.1.1 Market
- 2.1.4.1.1.1 Buyer Attributes
- 2.1.4.1.1.2 Key Producers and Suppliers in Germany
- 2.1.4.1.1.3 Regulatory Landscape
- 2.1.4.1.1.4 Business Drivers
- 2.1.4.1.1.5 Business Challenges
- 2.1.4.1.2 Application
- 2.1.4.1.2.1 Germany Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
- 2.1.4.1.3 Products
- 2.1.4.1.3.1 Germany Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
- 2.1.4.2 France
- 2.1.4.2.1 Market
- 2.1.4.2.1.1 Buyer Attribute
- 2.1.4.2.1.2 Key Producers and Suppliers in France
- 2.1.4.2.1.3 Regulatory Landscape
- 2.1.4.2.1.4 Business Drivers
- 2.1.4.2.1.5 Business Challenges
- 2.1.4.2.2 Application
- 2.1.4.2.2.1 France Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
- 2.1.4.2.3 Product
- 2.1.4.2.3.1 France Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
- 2.1.4.3 Netherlands
- 2.1.4.3.1 Market
- 2.1.4.3.1.1 Buyer Attribute
- 2.1.4.3.1.2 Key Producers and Suppliers in the Netherlands
- 2.1.4.3.1.3 Regulatory Landscape
- 2.1.4.3.1.4 Business Drivers
- 2.1.4.3.1.5 Business Challenges
- 2.1.4.3.2 Application
- 2.1.4.3.2.1 Netherlands Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
- 2.1.4.3.3 Product
- 2.1.4.3.3.1 Netherlands Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
- 2.1.4.4 Spain
- 2.1.4.4.1 Market
- 2.1.4.4.1.1 Buyer Attribute
- 2.1.4.4.1.2 Key Producers and Suppliers in Spain
- 2.1.4.4.1.3 Regulatory Landscape
- 2.1.4.4.1.4 Business Drivers
- 2.1.4.4.1.5 Business Challenges
- 2.1.4.4.2 Application
- 2.1.4.4.2.1 Spain Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
- 2.1.4.4.3 Product
- 2.1.4.4.3.1 Spain Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
- 2.1.4.5 Rest-of-Europe
- 2.1.4.5.1 Market
- 2.1.4.5.1.1 Buyer Attribute
- 2.1.4.5.1.2 Key Producers and Suppliers in Rest-of-Europe
- 2.1.4.5.1.3 Business Drivers
- 2.1.4.5.1.4 Business Challenges
- 2.1.4.5.2 Application
- 2.1.4.5.2.1 Rest-of-Europe Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
- 2.1.4.5.3 Product
- 2.1.4.5.3.1 Rest-of-Europe Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
- 2.2 U.K.
- 2.2.1 Market
- 2.2.1.1 Buyer Attributes
- 2.2.1.2 Key Producers and Suppliers in the U.K.
- 2.2.1.3 Regulatory Landscape
- 2.2.1.4 Business Drivers
- 2.2.1.5 Business Challenges
- 2.2.2 Application
- 2.2.2.1 U.K. Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
- 2.2.3 Product
- 2.2.3.1 U.K. Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
3 Markets - Competitive Benchmarking & Company Profiles
- 3.1 Competitive Benchmarking
- 3.1.1 Competitive Position Matrix
- 3.1.2 Product Matrix for Key Companies, Equipment Type
- 3.1.3 Market Share Analysis of Key Companies, 2022
- 3.2 Company Profiles
- 3.2.1 AEG Power Solutions B.V.
- 3.2.1.1 Company Overview
- 3.2.1.1.1 Role of AEG Power Solutions B.V. in the Power Supply Equipment Market for Water Electrolysis
- 3.2.1.1.2 Product Portfolio
- 3.2.1.1.3 Production Sites
- 3.2.1.2 Corporate Strategies
- 3.2.1.2.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
- 3.2.1.3 Analyst View
- 3.2.2 Ingeteam
- 3.2.2.1 Company Overview
- 3.2.2.1.1 Role of Ingeteam in the Power Supply Equipment Market for Water Electrolysis
- 3.2.2.1.2 Product Portfolio
- 3.2.2.1.3 Production Sites
- 3.2.2.2 Business Strategies
- 3.2.2.2.1 Product Development
- 3.2.2.3 Corporate Strategies
- 3.2.2.3.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
- 3.2.2.4 R&D Analysis
- 3.2.2.5 Analyst View
- 3.2.3 Comeca Group
- 3.2.3.1 Company Overview
- 3.2.3.1.1 Role of Comeca Group in the Power Supply Equipment Market for Water Electrolysis
- 3.2.3.1.2 Product Portfolio
- 3.2.3.1.3 Production Sites
- 3.2.3.2 Analyst View
- 3.2.4 Nidec Industrial Solutions
- 3.2.4.1 Company Overview
- 3.2.4.1.1 Role of Nidec Industrial Solutions in the Power Supply Equipment Market for Water Electrolysis
- 3.2.4.1.2 Product Portfolio
- 3.2.4.1.3 Production Sites
- 3.2.4.2 Business Strategies
- 3.2.4.2.1 Market Development
- 3.2.4.3 Corporate Strategies
- 3.2.4.3.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
- 3.2.4.4 Analyst View
- 3.2.5 Danfoss Drives
- 3.2.5.1 Company Overview
- 3.2.5.1.1 Role of Danfoss Drives in the Power Supply Equipment Market for Water Electrolysis
- 3.2.5.1.2 Product Portfolio
- 3.2.5.1.3 Production Sites
- 3.2.5.2 Corporate Strategies
- 3.2.5.2.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
- 3.2.5.3 Analyst View
- 3.2.6 Prodrive Technologies
- 3.2.6.1 Company Overview
- 3.2.6.1.1 Role of Prodrive Technologies in the Power Supply Equipment Market for Water Electrolysis
- 3.2.6.1.2 Product Portfolio
- 3.2.6.1.3 Production Sites
- 3.2.6.2 Analyst View
- 3.2.7 FRIEM SPA
- 3.2.7.1 Company Overview
- 3.2.7.1.1 Role of FRIEM SPA in the Power Supply Equipment Market for Water Electrolysis
- 3.2.7.1.2 Product Portfolio
- 3.2.7.1.3 Production Sites
- 3.2.7.2 Corporate Strategies
- 3.2.7.2.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
- 3.2.7.3 Analyst View
- 3.2.8 ABB
- 3.2.8.1 Company Overview
- 3.2.8.1.1 Role of ABB in the Power Supply Equipment Market for Water Electrolysis
- 3.2.8.1.2 Product Portfolio
- 3.2.8.1.3 Production Sites
- 3.2.8.2 Corporate Strategies
- 3.2.8.2.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
- 3.2.8.3 R&D Analysis
- 3.2.8.4 Analyst View
- 3.2.9 KraftPowercon
- 3.2.9.1 Company Overview
- 3.2.9.1.1 Role of KraftPowercon in the Power Supply Equipment Market for Water Electrolysis
- 3.2.9.1.2 Product Portfolio
- 3.2.9.1.3 Production Sites
- 3.2.9.2 Analyst View
- 3.2.10 Mak Plus Power Systems
- 3.2.10.1 Company Overview
- 3.2.10.1.1 Role of Mak Plus Power Systems in the Power Supply Equipment Market for Water Electrolysis
- 3.2.10.1.2 Product Portfolio
- 3.2.10.1.3 Production Sites
- 3.2.10.2 Analyst View
- 3.2.11 MUNK GmbH
- 3.2.11.1 Company Overview
- 3.2.11.1.1 Role of MUNK GmbH in the Power Supply Equipment Market for Water Electrolysis
- 3.2.11.1.2 Product Portfolio
- 3.2.11.1.3 Production Sites
- 3.2.11.2 Analyst View
- 3.2.12 SMA Solar Technology AG
- 3.2.12.1 Company Overview
- 3.2.12.1.1 Role of SMA Solar Technology AG in the Power Supply Equipment Market for Water Electrolysis
- 3.2.12.1.2 Product Portfolio
- 3.2.12.1.3 Production Sites
- 3.2.12.1.4 R&D Analysis
- 3.2.12.2 Analyst View
4 Research Methodology