Electrolyzers Market

Electrolyzers Market worth $57.2 billion by 2030

According to a research report "Electrolyzers Market by Technology (Alkaline, Proton Exchange Membrane (PEM), Solid Oxide Electrolyzer, AEM), Application (Energy, Mobility, Industrial, Grid Injection), Power Rating (<500 kW, 500-2,000 kW, >2,000 kW), Region - Global Forecast to 2030" published by MarketsandMarkets, the global electrolyzers market is projected to reach USD 57.2 billion by 2030 from an estimated USD 0.5 billion in 2023, at a CAGR of 97.7% during the forecast period. The growing demand for cleaner fuels is one of the major factors driving the electrolyzers market. Global electrolyzers demand has been increasing gradually due to goals set to achieve net zero emissions in recent years. Governments worldwide are taking proactive measures to establish the necessary infrastructure for the development of green hydrogen, with a notable focus in Asia and the European Union, alongside select American and Middle Eastern nations. The increasing investment and funding landscape have emerged as formidable catalysts propelling the electrolyzer market into a phase of rapid expansion and technological evolution. Nations have incorporated electrolyzer targets into their hydrogen strategies.With the spotlight on green hydrogen intensifying as a linchpin in the roadmap toward a net-zero future which presents a significant opportunity for the electrolyzers market. However, the risks associated with high initial investment for setting up hydrogen production plants and lack of hydrogen infrastructure have hindered the growth of the market in recent years and are expected to restrain the market's growth during the forecast period.

Browse 234 market data Tables and 52 Figures spread through 302 Pages and in-depth TOC on "Electrolyzers Market by Technology (Alkaline, Proton Exchange Membrane (PEM), Solid Oxide Electrolyzer, AEM), Application (Energy, Mobility, Industrial, Grid Injection), Power Rating (<500 kW, 500-2,000 kW, >2,000 kW), Region - Global Forecast to 2030"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/electrolyzers-market-23889518.html

The alkaline electrolyzer, by technology, is expected to be the largest segment during the forecast period.

Based on technology, the electrolyzers market has been split into alkaline electrolyzers (AE), proton exchange membrane (PEM), solid oxide electrolyzers (SOE), and anion exchange membrane (AEM). The electrolyzers market for alkaline electrolyzers is anticipated to have the biggest market share over the forecast period. Alkaline electrolyzers is established and mature electrolysis technologies. As the need for green hydrogen grows, there is a rising emphasis on lowering the cost of electrolyzers. Alkaline electrolyzers are becoming more appealing for large-scale hydrogen generation due to their relatively simple design and lower capital costs compared to other technologies.

The grid injection segment, by application, is expected to grow at the highest CAGR during the forecast period.

This report segments the electrolyzers market based on application into four segments: energy, mobility, industrial, and grid injection. The grid injection segment is expected to grow at the highest CAGR during the forecasted period, owing to the extensive decarbonization efforts in North America, Europe, and Asia Pacific. Green hydrogen can be transported using grids. Renewable energy plants produce varying amounts of energy depending on the day and season. The extra electricity produced can be converted into green hydrogen and fed back into the system. This enables solar and wind power plants to operate at full capacity. Additionally, the penetration of renewables in the energy system presents significant opportunities. Even the pipe system, which is part of the grid system, serves as a storage vessel. Hydrogen may be transported by grid injection for lower cost and is suitable for various purposes.

Asia Pacific is expected to be the fastest growing region in the electrolyzers market.

Asia Pacific is expected to be the fastest growing region in the electrolyzers market during the forecast period. The Asia Pacific region comprises major economies such as China, Japan, and Australia. The electrolyzers market in Asia Pacific is primarily fueled by the increasing foreign investments in green hydrogen projects. According to IEA, China is estimated to account for nearly half of global electrolyzers manufacturing capacity by the end of 2023. Asia Pacific is one of the leading markets for adopting green technologies to meet the government targets for reducing GHG emissions. It aims to deploy green hydrogen on a large scale. The country plans to have 200,00 green hydrogen fuel cell vehicles and 320 hydrogen refueling stations by 2025 to meet the global carbon emission standards.

Key Players

Some of the major players in the electrolyzers market are thyssenkrupp nucera (Germany) , John Cockerill (Belgium), Nel ASA (Norway), Plug Power Inc. (US), and Siemens Energy (Germany). The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, joint ventures, collaborations, investments, and expansions.

Don’t miss out on business opportunities in Electrolyzers Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Electrolyzers Market Size,  Share & Growth Report
Report Code
EP 8577
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Electrolyzers Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status

Digital Virtual Assistant - MarketsandMarkets