Product Code: GVR-4-68040-341-9
Hydrogen Electrolyzer Market Size & Trends
The global hydrogen electrolyzer market was estimated at USD 517.80 million in 2023 and is expected to grow at a CAGR of 98.1% from 2024 to 2030. This market stands at the forefront of a monumental shift towards sustainable energy solutions. This valuation underscores the emerging importance of hydrogen as a key player in the transition to green energy, driven by the pressing need to combat climate change and reduce global carbon emissions.
Governments around the world are increasingly implementing stringent policies and offering incentives to promote the adoption of clean energy technologies, including hydrogen. This regulatory push, combined with significant public and private investments in hydrogen infrastructure, is setting the stage for rapid market growth. Hydrogen electrolyzers, which play a critical role in producing green hydrogen from renewable energy sources, are gaining traction as indispensable tools in this global energy transition.
Technological advancements are significantly bolstering the market, making hydrogen production more efficient and cost-effective. Continuous improvements in materials, design, and engineering are enhancing the performance and scalability of electrolyzers, facilitating their adoption across various sectors such as transportation, industrial processes, and energy storage. The integration of hydrogen production with renewable energy sources, like wind and solar power, is particularly transformative.
By utilizing excess renewable energy to produce hydrogen, challenges related to energy storage and grid stability are effectively addressed, paving the way for a more resilient and sustainable energy system. This synergy between hydrogen and renewable energy not only supports the broader adoption of clean energy technologies but also reinforces the crucial role of hydrogen electrolyzers in achieving a carbon-neutral future. As the market continues to evolve, hydrogen electrolyzers are poised to become central to the global energy landscape, driving innovation and fostering an environmentally sustainable energy ecosystem.
Global Hydrogen Electrolyzer Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global hydrogen electrolyzer market based on the technology, application, power rating, and region:
- Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Alkaline Electrolyzer (AE)
- Proton Exchange Membrane (PEM)
- Solid Oxide Electrolyzer (SOE)
- Anion Exchange Membrane (AEM)
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Energy
Power Generation
CHP
Chemical
Industries
- Grid Injection
- Power Generation Outlook (Revenue, USD Million, 2018 - 2030)
- <500 kW
- 500-2,000 kW
- >2,000 kW
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
U.S.
Canada
Mexico
Germany
France
UK
Russia
Norway
Italy
China
Japan
India
Australia
Brazil
Argentina
Qatar
Saudi Arabia
South Africa
Kuwait
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Projects & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Hydrogen Electrolyzer Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospects Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Technology Framework
- 3.5. Regulatory Framework
- 3.5.1. Standards & Compliances
- 3.5.2. Regulatory Impact Analysis
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Market Challenges Analysis
- 3.6.4. Market Opportunity Analysis
- 3.7. Business Environment Analysis
- 3.7.1. Industry analysis - porter's five forces analysis
- 3.7.2. Industry analysis - Pestle analysis
- 3.8. Emerging trends & technologies in the Hydrogen Electrolyzer
Chapter 4. Hydrogen Electrolyzer Market: Technology estimates & trend analysis
- 4.1. Definition & scope
- 4.2. Technology movement analysis & market share, 2023 & 2030
- 4.3. Alkaline Electrolyzer (AE)
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 4.4. Proton Exchange Membrane (PEM)
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 4.5. Solid Oxide Electrolyzer
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 4.6. Anion Exchange Membrane (AEM)
- 4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
Chapter 5. Hydrogen Electrolyzer Market: Application Estimates & Trend Analysis
- 5.1. Definition & Scope
- 5.2. Application Movement Analysis & Market Share, 2023 & 2030
- 5.3. Energy
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 5.3.2. Power Generation
- 5.3.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 5.3.3. CHP
- 5.3.3.2. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 5.4. Mobility
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 5.5. Industrial
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 5.5.2. Chemical
- 5.5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 5.5.3. Industries
- 5.5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 5.6. Grid Injection
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
Chapter 6. Hydrogen Electrolyzer Market: Power Generation Estimates & Trend Analysis
- 6.1. Definition & Scope
- 6.2. Power Generation Movement Analysis & Market Share, 2023 & 2030
- 6.3. <500 KW
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 6.4. 500-2,000 KW
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 6.5. >2,000 KW
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
Chapter 7. Hydrogen Electrolyzer Market: Regional Estimates & Trend Analysis
- 7.1. Key Takeaways
- 7.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 7.3. North America
- 7.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.3.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.3.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.3.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.3.5. U.S.
- 7.3.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.3.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.3.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.3.5.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.3.6. Canada
- 7.3.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.3.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.3.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.3.6.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.3.7. Mexico
- 7.3.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.3.7.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.3.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.3.7.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.4. Europe
- 7.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.4.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.4.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.4.5. Germany
- 7.4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.4.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.4.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.4.5.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.4.6. U.K.
- 7.4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.4.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.4.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.4.6.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.4.7. France
- 7.4.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.4.7.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.4.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.4.7.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.4.8. Italy
- 7.4.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.4.8.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.4.8.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.4.8.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.4.9. Norway
- 7.4.9.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.4.9.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.4.9.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.4.9.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.4.10. Russia
- 7.4.10.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.4.10.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.4.10.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.4.10.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.5. Asia Pacific
- 7.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.5.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.5.5. China
- 7.5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.5.4.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.5.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.5.4.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.5.6. India
- 7.5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.5.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.5.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.5.5.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.5.6. Japan
- 7.5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.5.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.5.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.5.6.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.5.7. Australia
- 7.5.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.5.7.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.5.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.5.7.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.6. Central & South America
- 7.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.6.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.6.5. Brazil
- 7.6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.6.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.6.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.6.5.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.6.6. Argentina
- 7.6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.6.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.6.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.6.6.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.7. Middle East & Africa
- 7.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.7.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.7.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.7.5. Qatar
- 7.7.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.7.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.7.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.7.5.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.7.6. Saudi Arabia
- 7.7.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.7.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.7.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.7.6.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.7.7. South Africa
- 7.7.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.7.7.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.7.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.7.7.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
- 7.7.8. Kuwait
- 7.7.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million, MW)
- 7.7.8.2. Market estimates and forecasts, by Technology, 2018 - 2030 (USD Million, MW)
- 7.7.8.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million, MW)
- 7.7.8.4. Market estimates and forecasts, by Power Generation, 2018 - 2030 (USD Million, MW)
Chapter 8. Competitive Landscape
- 8.1. Key Players & Recent Developments & Their Impact on the Industry
- 8.2. Key Company/Competition Categorization (Key innovators, Market leaders, emerging players)
- 8.3. List of key Component Suppliers and Channel Partners
- 8.4. Company Market Share & Position Analysis, 2023
- 8.5. Company Heat Map Analysis
- 8.6. Competitive Dashboard Analysis
- 8.7. Strategy Mapping
- 8.7.1. Expansion
- 8.7.2. Collaboration/ Partnerships/ Agreements
- 8.7.3. New Application launches
- 8.7.4. Mergers & Acquisitions
- 8.7.5. Research & Development
- 8.7.6. Others
- 8.8. List of Potential Customers, by Material
Chapter 9. Company Listing / Profiles
- 9.1. thyssenkrupp nucera
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.2. John Cockerill
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.3. Nel ASA
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.4. Plug Power Inc.
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.5. Siemens Energy
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.6. Enapter S.r.l.
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.7. Cummins Inc.
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.8. ITM Power
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.9. McPhy Energy S.A.
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.10. Topsoe
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
Chapter 10. Strategic Recommendations/ Analyst Perspective