Electrolyzers Market – Global Forecast to 2030
전해조 시장 – 기술(알칼리 전해 장치, 양성자 교환막, 고체 산화물 전해 장치, 음이온 교환막), 용도(에너지, 이동성, 산업, 그리드 인젝션), 전력 정격 및 지역별 – 2030년까지의 세계 예측
Electrolyzers Market by Technology (Alkaline Electrolyzer, Proton Exchange Membrane, Solid Oxide Electrolyzer, Anion Exchange Membrane), Application (Energy, Mobility, Industrial, Grid Injection), Power Rating and Region – Global Forecast to 2030
조사회사 | MarketsandMarkets |
출판년월 | 2024년12월 |
페이지 수 | 312 |
도표 수 | 325 |
라이센스 | Single User License |
가격 | USD 4,950 |
구성 | 영문조사보고서 |
전해조 시장은 2024년에 37억 5,000만 달러에 달할 것으로 예상되며, 예측 기간 동안 연평균 성장률(CAGR) 65.9%로 성장해 2030년까지 780억 1,000만 달러에 달하면 MarketsandMarkets는 예측하고 있습니다.
세계의 전해조 시장은 현재 성장하고 있으며, 업계 전체의 탈탄소화를 실현하는 중요한 요소가 되는 그린 수소의 수요 증가가 성장 촉진 요인이 되고 있습니다. 탄소라는 원대한 목표를 달성하기 위해 신재생에너지와 수소기술에 많은 투자를 하고 있습니다. 전해조의 효율의 진보에 더해, 태양광이나 풍력 등의 재생 가능 에너지원 비용의 저하에 의해, 채용은 한층 더 진행되고 있습니다. 에너지 저장 및 산업 생산에서 대규모 도입이 촉진되었습니다. 관민 부문의 협력 발전도 혁신을 촉진하고 전해조의 세계적인 거점을 확대하는 데 도움이됩니다.
MarketsandMarkets는 시장 성장 촉진 요인과 저해 요인을 다음과 같습니다.
- 성장 촉진 요인
- 그린 수소 제조를 지원하는 정부의 유리한 장려책과 정책
- 넷 제로 배출 목표에 따른 깨끗한 재생 가능 에너지에 대한 견고한 수요 증가
- 성장 저해 요인
- 제한적 백금족 금속(PGM) 가용성
- 재생 가능 에너지원 간헐성
「전해조 시장 – 기술(알칼리 전해 장치, 양성자 교환막, 고체 산화물 전해 장치, 음이온 교환막), 용도(에너지, 이동성, 산업, 그리드 인젝션), 전력 정격 및 지역별 – 2030년까지의 세계 예측 – Electrolyzers Market by Technology (Alkaline Electrolyzer, Proton Exchange Membrane, Solid Oxide Electrolyzer, Anion Exchange Membrane), Application (Energy, Mobility, Industrial, Grid Injection), Power Rating and Region – Global Forecast to 2030」는 세계의 전해조 시장을 주요 세그먼트별로 분석·예측한 MarketsandMarkets의 시장 조사 보고서입니다.
주요 게재 내용
- 시장 개관
- 시장 역학
- 고객 기업에 영향을 미치는 동향/디스럽션
- 공급체인 분석
- 에코시스템 분석
- 기술 분석
- 주요 기술
- 알칼리 전해 장치
- 양성자 교환막 전해 장치
- 음이온 교환막 전해 장치
- 고체 산화물 전해 장치
- 보완 기술
- 재생 가능 에너지 통합
- 에너지 저장
- 관련 기술
- 수소 연료 전지
- 디지털화 및 자동화
- 특허 분석
- 법규 환경
- 주요 회의 및 행사 2024-2025년
- 주요 기술
- 무역 분석
- 가격 분석
- 양성자 교환막(PEM) 전해조 제조 비용 분석
- 사례 연구 분석
- 파이브포스 분석
- 주요 이해관계자 및 구매 기준
- 전해조의 테크노 이코노믹 로드맵
- 중국과 세계의 경쟁력 다이어그램: 전해조 생산 능력별
- 인공지능(AI)/생성 AI가 전해조에 미치는 영향
- 전해조 시장의 거시경제 전망
- 투자 및 자금 조달 시나리오
- 전해조 시장 – 전력 정격별
- 500KW 미만
- 500-2000KW
- 2000KW 초과
- 전해조 시장 – 용도별
- 에너지
- 발전
- CHP
- 모빌리티
- 산업
- 과학
- 기타 산업
- 그리드 주입
- 에너지
- 전해조 시장 – 기술
- 전해조 시장 – 지역
- 경쟁 세력도
- 기업 정보
Report Overview
The Electrolyzers market is expected to grow from an estimated in USD 3.75 billion in 2024 to USD 78.01 billion by 2030, at a CAGR of 65.9% during the forecast period.
The global electrolyzer market is currently growing, and it is increasingly being driven by the demand for green hydrogen as a key enabler of decarbonization across industries. Governments and companies around the world are investing heavily in renewable energy and hydrogen technologies to meet ambitious net-zero carbon targets. Advancement in electrolyzer efficiency, as well as declining costs of renewable energy sources such as solar and wind, are further driving its adoption. These strategic initiatives involving subsidies, incentives, and research funding are prompting large-scale deployment, mainly in transportation, energy storage, and industrial manufacturing. The development of public-private sector collaborations is also helping to foster innovation and an expansion of the global footprint for electrolyzers.

“<500 KW market by technology, is expected to be the fastest growing segment from 2024 to 2030.”
The <500 KW segment is the fastest-growing market segment in electrolyzers by power rating due to its versatility and aptness for decentralized and small-scale hydrogen production. These systems are being widely used in hydrogen refueling stations, industrial processes, and residential energy storage. Due to their compact size, lower front-end costs, and easy installation, they are more suitable for regions focusing on localized green hydrogen production. The segment is also witnessing growth due to the increasing demand for on-site hydrogen generation in renewable energy integration and mobility solutions, especially in regions with limited access to large-scale hydrogen infrastructure.
“Anion Exchange Membrane Electrolyzer, by technology, is expected to be the fastest-growing market from 2024 to 2030”
The AEM electrolyzer segment is growing at the highest rate by technology type, because of its cost-effectiveness and the ability to operate without requiring expensive materials such as platinum or iridium. AEM-based electrolyzers use non-precious catalysts, which is a huge attraction for lowering the production costs of hydrogen in the overall chains. They share the advantages of both alkaline and PEM technologies, with respect to their efficiency in compact designs. Additionally, their compatibility for producing hydrogen on-site using renewable energy sources increases their adoption as industries and governments request sustainable and affordable means of producing green hydrogen.
“Asia Pacific having highest CAGR for the forecasted period in Electrolyzers market.”
Asia Pacific is the fastest-growing region in the electrolyzer market due to strong government initiatives and investments in green hydrogen to meet energy transition goals and carbon neutrality targets. Countries like China, Japan, South Korea, and India are also at the forefront of hydrogen adoption, which is driven by robust industrial demand, renewable integration, and decarbonization strategies. Furthermore, significant growth is initiated due to the region’s large manufacturing base, low-cost production capabilities, and supportive policies in terms of subsidies and incentives for clean energy projects. In addition, the rapid increase in hydrogen infrastructure projects along with partnerships worldwide makes Asia Pacific a prime market for further expansion of electrolyzers.

In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the ELECTROLYZER market.
- By Company Type: Tier 1- 60%, Tier 2- 25%, and Tier 3- 15%
- By Designation: C-level Executives – 33%, Director Level- 24%, and Others- 43%
- By Region: North America – 25%, Europe – 25%, Asia Pacific – 30%, RoW-20%
Note: Other designations include sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined based on their total revenue as of 2023. Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: <USD 500 million.
The Electrolyzer market is dominated by a few major players that have a wide regional presence. Some of the major players in the electrolyzer market Siemens Energy (Germany), Nel ASA (Norway), thyssenkrupp nucera (Germany), John Cockerill (Belgium), and Plug Power Inc. (US), among others. The major strategy adopted by the players includes new product launches, joint ventures, acquisitions, and expansions.

Research Coverage:
The report defines, describes, and forecasts the electrolyzer market by mounting type, voltage range, type, application, verticals, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product launches, mergers and acquisitions, and recent developments associated with the electrolyzer market. Competitive analysis of upcoming startups in the electrolyzer market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants electrolyzer market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Favorable government initiatives and policies supporting green hydrogen production, Substantial growing demand for clean and renewable energies to align with net zero emission goals), restraints (Limited availability of platinum group metals (PGMs), Intermittency of renewable energy sources), opportunities (Declining cost of renewable energy sources, Increasing Adoption of Green Hydrogen in Transport Application), and challenges (Lack of infrastructure to bolster hydrogen markets)
- Product Development/ Innovation: The electrolyzer market is seeing substantial product development and innovation, driven by rising environmental concerns. Companies are investing in improved electrolyzer technology to manufacture advanced electrolyzer technologies.
- Market Development: In November 2023, Siemens Energy and Air Liquide inaugurated a new gigawatt electrolyzer factory in Berlin. The establishment of the new factory by Siemens Energy is turning electrolyzers into a widely produced item, setting the groundwork for the expansion of the hydrogen economy. To transform hydrogen into a pivotal element for a climate-neutral future, it must be accessible in substantial volumes and at competitive prices.
- Market Diversification: In December 2023, John Cockerill has entered the North American market with the groundbreaking of its first alkaline electrolyzer gigafactory in Baytown, Texas. The event was attended by Belgian Prime Minister Alexander De Croo, John Cockerill CEO François Michel, and President Americas Nicolas de Coignac, marking a significant milestone in the company’s US energy sector expansion.
- Competitive Assessment: In-depth analysis of market share, growth plans, and service offerings of top companies in the electrolyzer market, including Siemens Energy (Germany), Nel ASA (Norway), thyssenkrupp nucera (Germany), John Cockerill (Belgium), Plug Power Inc. (US), among others.
Table of Contents
1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 25
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED 25
1.3.2 INCLUSIONS AND EXCLUSIONS 26
1.3.3 YEARS CONSIDERED 27
1.4 CURRENCY CONSIDERED 27
1.5 UNIT CONSIDERED 27
1.6 LIMITATIONS 27
1.7 STAKEHOLDERS 28
1.8 SUMMARY OF CHANGES 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
2.2 SECONDARY AND PRIMARY RESEARCH 30
2.2.1 SECONDARY DATA 30
2.2.1.1 List of key secondary sources 30
2.2.1.2 Key data from secondary sources 30
2.2.2 PRIMARY DATA 31
2.2.2.1 List of primary interview participants 31
2.2.2.2 Key industry insights 31
2.2.2.3 Breakdown of primaries 32
2.2.2.4 Key data from primary sources 33
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 33
2.4 MARKET SIZE ESTIMATION METHODOLOGY 34
2.4.1 BOTTOM-UP APPROACH 35
2.4.2 TOP-DOWN APPROACH 35
2.4.3 DEMAND-SIDE ANALYSIS 37
2.4.3.1 Calculations for demand-side analysis 37
2.4.3.2 Assumptions for demand-side analysis 38
2.4.4 SUPPLY-SIDE ANALYSIS 39
2.4.4.1 Calculations for supply-side analysis 40
2.4.4.2 Assumptions for supply-side analysis 40
2.5 RESEARCH ASSUMPTIONS 40
2.6 RESEARCH LIMITATIONS 41
2.6.1 RISK ASSESSMENT 41
3 EXECUTIVE SUMMARY 42
4 PREMIUM INSIGHTS 46
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTROLYZERS MARKET 46
4.2 ELECTROLYZERS MARKET, BY COUNTRY 47
4.3 ELECTROLYZERS MARKET, BY TECHNOLOGY 47
4.4 ELECTROLYZERS MARKET, BY APPLICATION 48
4.5 ELECTROLYZERS MARKET, BY POWER RATING 48
4.6 ELECTROLYZERS MARKET IN NORTH AMERICA, BY POWER RATING AND COUNTRY 49
5 MARKET OVERVIEW 50
5.1 INTRODUCTION 50
5.2 MARKET DYNAMICS 50
5.2.1 DRIVERS 51
5.2.1.1 Government-led initiatives to boost green hydrogen development 51
5.2.1.2 Growing emphasis on net-zero emissions 51
5.2.1.3 Rising demand for green ammonia 52
5.2.2 RESTRAINTS 52
5.2.2.1 Scarcity of materials that can endure prolonged operations 52
5.2.2.2 Reduced system efficiency due to intermittency 53
5.2.3 OPPORTUNITIES 53
5.2.3.1 Declining cost of renewable energy 53
5.2.3.2 Rising adoption of hydrogen vehicles 53
5.2.4 CHALLENGES 54
5.2.4.1 Inadequate support structures for seamless incorporation of electrolyzer technology 54
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 55
5.4 SUPPLY CHAIN ANALYSIS 56
5.5 ECOSYSTEM ANALYSIS 57
5.6 TECHNOLOGY ANALYSIS 59
5.6.1 KEY TECHNOLOGIES 59
5.6.1.1 Alkaline electrolyzers 59
5.6.1.2 Proton exchange membrane electrolyzers 59
5.6.1.3 Anion exchange membrane electrolyzers 60
5.6.1.4 Solid oxide electrolyzers 60
5.6.2 COMPLEMENTARY TECHNOLOGIES 61
5.6.2.1 Renewable energy integration 61
5.6.2.2 Energy storage 61
5.6.3 ADJACENT TECHNOLOGIES 61
5.6.3.1 Hydrogen fuel cells 61
5.6.3.2 Digitalization and automation 62
5.7 PATENT ANALYSIS 63
5.8 REGULATORY LANDSCAPE 65
5.8.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 65
5.8.2 REGULATORY FRAMEWORKS AND POLICIES 68
5.9 KEY CONFERENCES AND EVENTS, 2024–2025 70
5.10 TRADE ANALYSIS 70
5.10.1 EXPORT DATA (HS CODE 280410) 70
5.10.2 IMPORT DATA (HS CODE 280410) 72
5.11 PRICING ANALYSIS 73
5.11.1 AVERAGE SELLING PRICE TREND OF ELECTROLYZERS, BY REGION, 2020–2023 73
5.11.2 AVERAGE SELLING PRICE TREND OF ELECTROLYZERS, BY TECHNOLOGY, 2020–2023 74
5.12 MANUFACTURING COST ANALYSIS OF PEM ELECTROLYZERS, 2023 74
5.13 CASE STUDY ANALYSIS 75
5.13.1 SUNFIRE GMBH PROVIDED RWE WITH HIGH-TEMPERATURE SOEC ELECTROLYZERS THAT HELPED ACHIEVE NET-ZERO EMISSION GOALS 75
5.13.2 AUTHORITIES HOLDING JURISDICTION ASSISTED TÜV SÜD SUCCESSFULLY ROLL OUT CERTIFICATIONS OF ELECTROLYZERS 75
5.13.3 NATIONAL RENEWABLE ENERGY LABORATORY AND ELECTRIC HYDROGEN COLLABORATED TO DEVELOP RENEWABLE HYDROGEN TECHNOLOGY 76
5.14 PORTER’S FIVE FORCES ANALYSIS 77
5.14.1 THREAT OF SUBSTITUTES 78
5.14.2 BARGAINING POWER OF SUPPLIERS 78
5.14.3 BARGAINING POWER OF BUYERS 78
5.14.4 THREAT OF NEW ENTRANTS 78
5.14.5 INTENSITY OF COMPETITIVE RIVALRY 79
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 79
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 79
5.15.2 BUYING CRITERIA 80
5.16 TECHNO-ECONOMIC ROADMAP FOR ELECTROLYZERS 81
5.17 CHINA VS. GLOBAL COMPETITIVE LANDSCAPE, BY ELECTROLYZER MANUFACTURING CAPACITY, 2022 81
5.18 IMPACT OF AI/GENERATIVE AI ON ELECTROLYZERS MARKET 82
5.18.1 AI/GENERATIVE AI APPLICATIONS IN ELECTROLYZERS MARKET 82
5.18.2 IMPACT OF AI/GENERATIVE AI, BY APPLICATION 82
5.18.3 IMPACT OF AI/GENERATIVE AI, BY REGION 83
5.19 MACROECONOMIC OUTLOOK FOR ELECTROLYZERS MARKET 83
5.19.1 ENERGY TRANSITION AND POLICY SHIFTS 84
5.19.2 R&D INVESTMENTS 84
5.19.3 INFRASTRUCTURE GROWTH 84
5.19.4 CLIMATE CHANGE 84
5.20 INVESTMENT AND FUNDING SCENARIO 85
5.21 BUSINESS MODELS FOR ELECTROLYZER FIRMS IN GREEN HYDROGEN 86
5.22 HYDROGEN ISLANDS: NEW FRONTIER FOR CLEAN ENERGY 87
6 ELECTROLYZERS MARKET, BY POWER RATING 88
6.1 INTRODUCTION 89
6.2 <500 KW 90
6.2.1 SUITABILITY FOR SMALL-SCALE HYDROGEN PRODUCTION APPLICATIONS TO FUEL MARKET GROWTH 90
6.3 500–2,000 KW 91
6.3.1 RISING INVESTMENTS IN HYDROGEN ECOSYSTEMS TO OFFER LUCRATIVE GROWTH OPPORTUNITIES 91
6.4 >2,000 KW 92
6.4.1 INCREASING INVESTMENTS IN HIGH-CAPACITY HYDROGEN GENERATION PLANTS TO FOSTER MARKET GROWTH 92
7 ELECTROLYZERS MARKET, BY APPLICATION 94
7.1 INTRODUCTION 95
7.2 ENERGY 97
7.2.1 POWER GENERATION 99
7.2.1.1 Emphasis on decarbonizing electricity grids to offer lucrative growth opportunities 99
7.2.2 CHP 100
7.2.2.1 Reduced energy wastage and low operational costs to boost demand 100
7.3 MOBILITY 101
7.3.1 SUITABILITY FOR HEAVY-DUTY AND LONG-HAUL VEHICLES TO FUEL MARKET GROWTH 101
7.4 INDUSTRIAL 103
7.4.1 CHEMICALS 105
7.4.1.1 Rising focus on boosting green chemical manufacturing to fuel market growth 105
7.4.2 OTHER INDUSTRIES 106
7.5 GRID INJECTION 106
7.5.1 GROWING INVESTMENT IN GREEN HYDROGEN INFRASTRUCTURE TO ACCELERATE DEMAND 106
8 ELECTROLYZERS MARKET, BY TECHNOLOGY 109
8.1 INTRODUCTION 110
8.2 ALKALINE ELECTROLYZER 112
8.2.1 ABILITY TO OPERATE AT WIDE TEMPERATURE RANGE TO DRIVE MARKET 112
8.3 PROTON EXCHANGE MEMBRANE 114
8.3.1 GROWING FOCUS ON REDUCING RELIANCE ON PRECIOUS METALS TO DRIVE DEMAND 114
8.4 SOLID OXIDE ELECTROLYZER 116
8.4.1 REDUCED REQUIREMENT OF ELECTRICITY FOR SPLITTING WATER INTO HYDROGEN AND OXYGEN TO BOOST DEMAND 116
8.5 ANION EXCHANGE MEMBRANE 118
8.5.1 SUITABILITY FOR DECENTRALIZED AND RENEWABLE ENERGY-POWERED HYDROGEN PRODUCTION TO FOSTER MARKET GROWTH 118
9 ELECTROLYZERS MARKET, BY REGION 120
9.1 INTRODUCTION 121
9.2 ASIA PACIFIC 123
9.2.1 CHINA 128
9.2.1.1 Surging investments in green hydrogen projects to foster market growth 128
9.2.2 JAPAN 130
9.2.2.1 Rising number of partnerships and collaborations to boost demand 130
9.2.3 AUSTRALIA 131
9.2.3.1 Favorable policies and schemes to accelerate demand 131
9.2.4 INDIA 132
9.2.4.1 Growing need to reduce reliance on fossil fuel imports to drive market 132
9.2.5 REST OF ASIA PACIFIC 133
9.3 EUROPE 134
9.3.1 GERMANY 141
9.3.1.1 Growing number of projects to scale up green hydrogen production to foster market growth 141
9.3.2 UK 142
9.3.2.1 Increasing strategic investments in green hydrogen infrastructure to fuel market growth 142
9.3.3 FRANCE 143
9.3.3.1 Rising funding for startups and research centers to drive market 143
9.3.4 DENMARK 145
9.3.4.1 Presence of strong renewable energy base to accelerate demand 145
9.3.5 AUSTRIA 147
9.3.5.1 Increasing number of high-impact green hydrogen projects to offer lucrative growth opportunities 147
9.3.6 NETHERLANDS 148
9.3.6.1 Growing emphasis on achieving net-zero emissions to accelerate demand 148
9.3.7 NORWAY 150
9.3.7.1 Abundance of renewable energy resources to boost demand 150
9.3.8 REST OF EUROPE 151
9.4 NORTH AMERICA 153
9.4.1 US 158
9.4.1.1 Rising emphasis on establishing large-scale manufacturing facilities to boost demand 158
9.4.2 CANADA 159
9.4.2.1 Abundance of clean energy resources to foster market growth 159
9.5 ROW 161
9.5.1 EGYPT 167
9.5.1.1 Government-led initiatives to partner with global players to offer lucrative growth opportunities 167
9.5.2 GCC 168
9.5.2.1 Increasing investments in green hydrogen production to boost demand 168
9.5.2.2 Saudi Arabia 168
9.5.2.3 Other GCC countries 169
9.5.3 OTHER COUNTRIES 170
10 COMPETITIVE LANDSCAPE 172
10.1 OVERVIEW 172
10.1.1 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024 172
10.2 MARKET SHARE ANALYSIS, 2023 175
10.3 MARKET EVALUATION FRAMEWORK 177
10.4 REVENUE ANALYSIS, 2019–2023 178
10.5 BRAND/PRODUCT COMPARISON 179
10.6 COMPANY VALUATION AND FINANCIAL METRICS, 2024 180
10.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 181
10.7.1 STARS 181
10.7.2 EMERGING LEADERS 181
10.7.3 PERVASIVE PLAYERS 181
10.7.4 PARTICIPANTS 181
10.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 183
10.7.5.1 Overall product footprint 183
10.7.5.2 Region footprint 185
10.7.5.3 Technology footprint 186
10.7.5.4 Application footprint 187
10.7.5.5 Power rating footprint 188
10.8 COMPANY EVALUATION MATRIX: STARTUPS/ SMES, 2023 189
10.8.1 PROGRESSIVE COMPANIES 189
10.8.2 RESPONSIVE COMPANIES 189
10.8.3 DYNAMIC COMPANIES 189
10.8.4 STARTING BLOCKS 189
10.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 191
10.8.5.1 Detailed list of key startups/SMEs 191
10.8.5.2 Competitive benchmarking of key startups/SMEs 192
10.9 COMPETITIVE SCENARIO 192
10.9.1 PRODUCT LAUNCHES 192
10.9.2 DEALS 194
10.9.3 EXPANSIONS 195
10.9.4 OTHER DEVELOPMENTS 196
11 COMPANY PROFILES 199
11.1 KEY PLAYERS 199
11.1.1 THYSSENKRUPP NUCERA 199
11.1.1.1 Business overview 199
11.1.1.2 Products/Solutions/Services offered 200
11.1.1.3 Recent developments 201
11.1.1.3.1 Deals 201
11.1.1.3.2 Expansions 203
11.1.1.3.3 Other developments 203
11.1.1.4 MnM view 205
11.1.1.4.1 Key strengths 205
11.1.1.4.2 Strategic choices 205
11.1.1.4.3 Weaknesses and competitive threats 206
11.1.2 JOHN COCKERILL 207
11.1.2.1 Business overview 207
11.1.2.2 Products/Solutions/Services offered 207
11.1.2.3 Recent developments 208
11.1.2.3.1 Deals 208
11.1.2.3.2 Expansions 209
11.1.2.3.3 Other developments 210
11.1.2.4 MnM view 211
11.1.2.4.1 Key strengths 211
11.1.2.4.2 Strategic choices 211
11.1.2.4.3 Weaknesses and competitive threats 211
11.1.3 NEL ASA 212
11.1.3.1 Business overview 212
11.1.3.2 Products/Solutions/Services offered 214
11.1.3.3 Recent developments 215
11.1.3.3.1 Product launches 215
11.1.3.3.2 Deals 216
11.1.3.3.3 Expansions 218
11.1.3.3.4 Other developments 219
11.1.3.4 MnM view 223
11.1.3.4.1 Key strengths 223
11.1.3.4.2 Strategic choices 223
11.1.3.4.3 Weaknesses and competitive threats 223
11.1.4 SIEMENS ENERGY 224
11.1.4.1 Business overview 224
11.1.4.2 Products/Solutions/Services offered 226
11.1.4.3 Recent developments 226
11.1.4.3.1 Deals 226
11.1.4.3.2 Expansions 227
11.1.4.3.3 Other developments 228
11.1.4.4 MnM view 229
11.1.4.4.1 Key strengths 229
11.1.4.4.2 Strategic choices 229
11.1.4.4.3 Weaknesses and competitive threats 229
11.1.5 PLUG POWER INC. 230
11.1.5.1 Business overview 230
11.1.5.2 Products/Solutions/Services offered 231
11.1.5.3 Recent developments 232
11.1.5.3.1 Deals 232
11.1.5.3.2 Expansions 234
11.1.5.3.3 Other developments 235
11.1.5.4 MnM view 238
11.1.5.4.1 Key strengths 238
11.1.5.4.2 Strategic choices 238
11.1.5.4.3 Weaknesses and competitive threats 238
11.1.6 ENAPTER S.R.L. 239
11.1.6.1 Business overview 239
11.1.6.2 Products/Solutions/Services offered 240
11.1.6.3 Recent developments 242
11.1.6.3.1 Product launches 242
11.1.6.3.2 Deals 243
11.1.6.3.3 Expansions 244
11.1.6.3.4 Other developments 244
11.1.7 CUMMINS INC. 247
11.1.7.1 Business overview 247
11.1.7.2 Products/Solutions/Services offered 248
11.1.7.3 Recent developments 249
11.1.7.3.1 Deals 249
11.1.7.3.2 Expansions 251
11.1.7.3.3 Other developments 252
11.1.8 ITM POWER PLC 254
11.1.8.1 Business overview 254
11.1.8.2 Products/Solutions/Services offered 255
11.1.8.3 Recent developments 256
11.1.8.3.1 Deals 256
11.1.8.3.2 Expansions 258
11.1.8.3.3 Other developments 259
11.1.9 MCPHY ENERGY S.A. 262
11.1.9.1 Business overview 262
11.1.9.2 Products/Solutions/Services offered 263
11.1.9.3 Recent developments 264
11.1.9.3.1 Deals 264
11.1.9.3.2 Other developments 266
11.1.10 LONGI 267
11.1.10.1 Business overview 267
11.1.10.2 Products/Solutions/Services offered 269
11.1.10.3 Recent developments 270
11.1.10.3.1 Product launches 270
11.1.10.3.2 Deals 270
11.1.10.3.3 Expansions 271
11.1.10.3.4 Other developments 271
11.1.11 SUNFIRE GMBH 272
11.1.11.1 Business overview 272
11.1.11.2 Products/Solutions/Services offered 272
11.1.11.3 Recent developments 273
11.1.11.3.1 Deals 273
11.1.11.3.2 Expansions 274
11.1.11.3.3 Other developments 274
11.1.12 BLOOM ENERGY 278
11.1.12.1 Business overview 278
11.1.12.2 Products/Solutions/Services offered 279
11.1.12.3 Recent developments 280
11.1.12.3.1 Deals 280
11.1.12.3.2 Expansions 280
11.1.12.3.3 Other developments 281
11.1.13 BEIJING SINOHY ENERGY CO., LTD 282
11.1.13.1 Business overview 282
11.1.13.2 Products/Solutions/Services offered 282
11.1.13.3 Recent developments 284
11.1.13.3.1 Deals 284
11.1.13.3.2 Other developments 285
11.1.14 ASAHI KASEI CORPORATION 286
11.1.14.1 Business overview 286
11.1.14.2 Products/Solutions/Services offered 288
11.1.14.3 Recent developments 288
11.1.14.3.1 Deals 288
11.1.14.3.2 Expansions 290
11.1.14.3.3 Other developments 290
11.1.15 NEXT HYDROGEN 292
11.1.15.1 Business overview 292
11.1.15.2 Products/Solutions/Services offered 293
11.1.15.3 Recent developments 293
11.1.15.3.1 Deals 293
11.1.15.3.2 Other developments 295
11.2 OTHER PLAYERS 296
11.2.1 PERIC HYDROGEN TECHNOLOGIES CO., LTD 296
11.2.2 CIPHER NEUTRON 297
11.2.3 GREEN HYDROGEN SYSTEMS 297
11.2.4 ERRE DUE S.P.A. 298
11.2.5 HYDROGENPRO 298
11.2.6 IGAS ENERGY GMBH 299
11.2.7 TOPSOE 300
11.2.8 HYGREEN ENERGY 301
11.2.9 OHMIUM 301
11.2.10 QUEST ONE GMBH 302
12 APPENDIX 303
12.1 INSIGHTS OF INDUSTRY EXPERTS 303
12.2 DISCUSSION GUIDE 303
12.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 308
12.4 CUSTOMIZATION OPTIONS 310
12.5 RELATED REPORTS 310
12.6 AUTHOR DETAILS 311
LIST OF TABLES
TABLE 1 ELECTROLYZERS MARKET: SNAPSHOT 42
TABLE 2 ROLE OF PLAYERS IN ELECTROLYZERS ECOSYSTEM 58
TABLE 3 CHARACTERISTICS OF ALKALINE ELECTROLYZERS 59
TABLE 4 CHARACTERISTICS OF PROTON EXCHANGE MEMBRANES 60
TABLE 5 CHARACTERISTICS OF ANION EXCHANGE MEMBRANE ELECTROLYZERS 60
TABLE 6 CHARACTERISTICS OF SOLID OXIDE ELECTROLYZERS 61
TABLE 7 LIST OF MAJOR PATENTS, 2020–2024 64
TABLE 8 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 65
TABLE 9 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 66
TABLE 10 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 67
TABLE 11 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 68
TABLE 12 LIST OF KEY CONFERENCES AND EVENTS, 2024–2025 70
TABLE 13 EXPORT DATA FOR HS CODE 280410-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD THOUSAND) 71
TABLE 14 IMPORT DATA FOR HS CODE 280410-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD THOUSAND) 72
TABLE 15 AVERAGE SELLING PRICE TREND OF ELECTROLYZERS, BY TECHNOLOGY, 2020–2023 (USD/KW) 74
TABLE 16 COST ANALYSIS OF PEM COMPONENTS, BY REGION/COUNTRY, 2023 (USD/KW) 74
TABLE 17 ELECTROLYZERS MARKET: PORTER’S FIVE FORCES ANALYSIS 77
TABLE 18 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%) 79
TABLE 19 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 80
TABLE 20 MAJOR HYDROGEN ISLAND PROJECTS 87
TABLE 21 ELECTROLYZERS MARKET, BY POWER RATING, 2020–2023 (USD MILLION) 89
TABLE 22 ELECTROLYZERS MARKET, BY POWER RATING, 2024–2030 (USD MILLION) 89
TABLE 23 <500 KW: ELECTROLYZERS, BY REGION, 2020–2023 (USD MILLION) 90
TABLE 24 <500 KW: ELECTROLYZERS, BY REGION, 2024–2030 (USD MILLION) 91
TABLE 25 500–2,000 KW: ELECTROLYZERS, BY REGION, 2020–2023 (USD MILLION) 91
TABLE 26 500–2,000 KW: ELECTROLYZERS, BY REGION, 2024–2030 (USD MILLION) 92
TABLE 27 >2,000 KW: ELECTROLYZERS, BY REGION, 2020–2023 (USD MILLION) 93
TABLE 28 >2,000 KW: ELECTROLYZERS, BY REGION, 2024–2030 (USD MILLION) 93
TABLE 29 ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (KW) 95
TABLE 30 ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (KW) 96
TABLE 31 ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 96
TABLE 32 ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 96
TABLE 33 ENERGY: ELECTROLYZERS MARKET, BY REGION, 2020–2023 (KW) 97
TABLE 34 ENERGY: ELECTROLYZERS MARKET, BY REGION, 2024–2030 (KW) 98
TABLE 35 ENERGY: ELECTROLYZERS MARKET, BY REGION, 2020–2023 (USD MILLION) 98
TABLE 36 ENERGY: ELECTROLYZERS MARKET, BY REGION, 2024–2030 (USD MILLION) 98
TABLE 37 ENERGY: ELECTROLYZERS MARKET, BY TYPE, 2020–2023 (KW) 98
TABLE 38 ENERGY: ELECTROLYZERS MARKET, BY TYPE, 2024–2030 (KW) 99
TABLE 39 ENERGY: ELECTROLYZERS MARKET, BY TYPE, 2020–2023 (USD MILLION) 99
TABLE 40 ENERGY: ELECTROLYZERS MARKET, BY TYPE, 2024–2030 (USD MILLION) 99
TABLE 41 MOBILITY: ELECTROLYZERS MARKET, BY REGION, 2020–2023 (KW) 101
TABLE 42 MOBILITY: ELECTROLYZERS MARKET, BY REGION, 2024–2030 (KW) 102
TABLE 43 MOBILITY: ELECTROLYZERS MARKET, BY REGION, 2020–2023 (USD MILLION) 102
TABLE 44 MOBILITY: ELECTROLYZERS MARKET, BY REGION, 2024–2030 (USD MILLION) 102
TABLE 45 INDUSTRIAL: ELECTROLYZERS MARKET, BY REGION, 2020–2023 (KW) 103
TABLE 46 INDUSTRIAL: ELECTROLYZERS MARKET, BY REGION, 2024–2030 (KW) 104
TABLE 47 INDUSTRIAL: ELECTROLYZERS MARKET, BY REGION, 2020–2023 (USD MILLION) 104
TABLE 48 INDUSTRIAL: ELECTROLYZERS MARKET, BY REGION, 2024–2030 (USD MILLION) 104
TABLE 49 INDUSTRIAL: ELECTROLYZERS MARKET, BY TYPE, 2020–2023 (KW) 104
TABLE 50 INDUSTRIAL: ELECTROLYZERS MARKET, BY TYPE, 2024–2030 (KW) 105
TABLE 51 INDUSTRIAL: ELECTROLYZERS MARKET, BY TYPE, 2020–2023 (USD MILLION) 105
TABLE 52 INDUSTRIAL: ELECTROLYZERS MARKET, BY TYPE, 2024–2030 (USD MILLION) 105
TABLE 53 GRID INJECTION: ELECTROLYZERS MARKET, BY REGION, 2020–2023 (KW) 107
TABLE 54 GRID INJECTION: ELECTROLYZERS MARKET, BY REGION, 2024–2030 (KW) 107
TABLE 55 GRID INJECTION: ELECTROLYZERS MARKET, BY REGION,
2020–2023 (USD MILLION) 107
TABLE 56 GRID INJECTION: ELECTROLYZERS MARKET, BY REGION,
2024–2030 (USD MILLION) 108
TABLE 57 ELECTROLYZERS MARKET, BY TECHNOLOGY, 2020–2023 (KW) 110
TABLE 58 ELECTROLYZERS MARKET, BY TECHNOLOGY, 2024–2030 (KW) 111
TABLE 59 ELECTROLYZERS MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION) 111
TABLE 60 ELECTROLYZERS MARKET, BY TECHNOLOGY, 2024–2030 (USD MILLION) 111
TABLE 61 ALKALINE ELECTROLYZER: ELECTROLYZERS MARKET, BY REGION,
2020–2023 (KW) 112
TABLE 62 ALKALINE ELECTROLYZER: ELECTROLYZERS MARKET, BY REGION,
2024–2030 (KW) 113
TABLE 63 ALKALINE ELECTROLYZER: ELECTROLYZERS MARKET, BY REGION,
2020–2023 (USD MILLION) 113
TABLE 64 ALKALINE ELECTROLYZER: ELECTROLYZERS MARKET, BY REGION,
2024–2030 (USD MILLION) 113
TABLE 65 PROTON EXCHANGE MEMBRANE: ELECTROLYZERS MARKET, BY REGION,
2020–2023 (KW) 114
TABLE 66 PROTON EXCHANGE MEMBRANE: ELECTROLYZERS MARKET, BY REGION,
2024–2030 (KW) 115
TABLE 67 PROTON EXCHANGE MEMBRANE: ELECTROLYZERS MARKET, BY REGION,
2020–2023 (USD MILLION) 115
TABLE 68 PROTON EXCHANGE MEMBRANE: ELECTROLYZERS MARKET, BY REGION,
2024–2030 (USD MILLION) 115
TABLE 69 SOLID OXIDE ELECTROLYZER: ELECTROLYZERS MARKET, BY REGION,
2020–2023 (KW) 116
TABLE 70 SOLID OXIDE ELECTROLYZER: ELECTROLYZERS MARKET, BY REGION,
2024–2030 (KW) 117
TABLE 71 SOLID OXIDE ELECTROLYZER: ELECTROLYZERS MARKET, BY REGION,
2020–2023 (USD MILLION) 117
TABLE 72 SOLID OXIDE ELECTROLYZER: ELECTROLYZERS MARKET, BY REGION,
2024–2030 (USD MILLION) 117
TABLE 73 ANION EXCHANGE MEMBRANE: ELECTROLYZERS MARKET, BY REGION,
2020–2023 (KW) 118
TABLE 74 ANION EXCHANGE MEMBRANE: ELECTROLYZERS MARKET, BY REGION,
2024–2030 (KW) 119
TABLE 75 ANION EXCHANGE MEMBRANE: ELECTROLYZERS MARKET, BY REGION,
2020–2023 (USD MILLION) 119
TABLE 76 ANION EXCHANGE MEMBRANE: ELECTROLYZERS MARKET, BY REGION,
2024–2030 (USD MILLION) 119
TABLE 77 ELECTROLYZERS MARKET, BY REGION, 2020–2023 (KW) 121
TABLE 78 ELECTROLYZERS MARKET, BY REGION, 2024–2030 (KW) 122
TABLE 79 ELECTROLYZERS MARKET, BY REGION, 2020–2023 (USD MILLION) 122
TABLE 80 ELECTROLYZERS MARKET, BY REGION, 2024–2030 (USD MILLION) 122
TABLE 81 ASIA PACIFIC: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2020–2023 (KW) 124
TABLE 82 ASIA PACIFIC: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2024–2030 (KW) 124
TABLE 83 ASIA PACIFIC: ELECTROLYZERS MARKET, BY TECHNOLOGY,
2020–2023 (USD MILLION) 124
TABLE 84 ASIA PACIFIC: ELECTROLYZERS MARKET, BY TECHNOLOGY,
2024–2030 (USD MILLION) 125
TABLE 85 ASIA PACIFIC: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 125
TABLE 86 ASIA PACIFIC: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 125
TABLE 87 ASIA PACIFIC: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (KW) 126
TABLE 88 ASIA PACIFIC: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (KW) 126
TABLE 89 ASIA PACIFIC: ELECTROLYZERS MARKET, BY POWER RATING,
2020–2023 (USD MILLION) 126
TABLE 90 ASIA PACIFIC: ELECTROLYZERS MARKET, BY POWER RATING,
2024–2030 (USD MILLION) 127
TABLE 91 ASIA PACIFIC: ELECTROLYZERS MARKET, BY COUNTRY, 2020–2023 (KW) 127
TABLE 92 ASIA PACIFIC: ELECTROLYZERS MARKET, BY COUNTRY, 2024–2030 (KW) 127
TABLE 93 ASIA PACIFIC: ELECTROLYZERS MARKET, BY COUNTRY,
2020–2023 (USD MILLION) 128
TABLE 94 ASIA PACIFIC: ELECTROLYZERS MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 128
TABLE 95 CHINA: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 129
TABLE 96 CHINA: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 129
TABLE 97 JAPAN: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 130
TABLE 98 JAPAN: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 130
TABLE 99 AUSTRALIA: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 131
TABLE 100 AUSTRALIA: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 131
TABLE 101 INDIA: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 132
TABLE 102 INDIA: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 132
TABLE 103 REST OF ASIA PACIFIC: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 133
TABLE 104 REST OF ASIA PACIFIC: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 134
TABLE 105 EUROPE: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2020–2023 (KW) 136
TABLE 106 EUROPE: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2024–2030 (KW) 136
TABLE 107 EUROPE: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION) 136
TABLE 108 EUROPE: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2024–2030 (USD MILLION) 137
TABLE 109 EUROPE: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (KW) 137
TABLE 110 EUROPE: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (KW) 137
TABLE 111 EUROPE: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 138
TABLE 112 EUROPE: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 138
TABLE 113 EUROPE: ELECTROLYZERS MARKET, BY POWER RATING,
2020–2023 (USD MILLION) 138
TABLE 114 EUROPE: ELECTROLYZERS MARKET, BY POWER RATING,
2024–2030 (USD MILLION) 139
TABLE 115 EUROPE: ELECTROLYZERS MARKET, BY COUNTRY, 2020–2023 (KW) 139
TABLE 116 EUROPE: ELECTROLYZERS MARKET, BY COUNTRY, 2024–2030 (KW) 139
TABLE 117 EUROPE: ELECTROLYZERS MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 140
TABLE 118 EUROPE: ELECTROLYZERS MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 140
TABLE 119 GERMANY: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 141
TABLE 120 GERMANY: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 142
TABLE 121 UK: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 143
TABLE 122 UK: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 143
TABLE 123 FRANCE: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 145
TABLE 124 FRANCE: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 145
TABLE 125 DENMARK: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 146
TABLE 126 DENMARK: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 146
TABLE 127 AUSTRIA: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 148
TABLE 128 AUSTRIA: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 148
TABLE 129 NETHERLANDS: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 149
TABLE 130 NETHERLANDS: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 149
TABLE 131 NORWAY: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 150
TABLE 132 NORWAY: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 150
TABLE 133 REST OF EUROPE: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 152
TABLE 134 REST OF EUROPE: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 152
TABLE 135 NORTH AMERICA: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2020–2023 (KW) 153
TABLE 136 NORTH AMERICA: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2024–2030 (KW) 154
TABLE 137 NORTH AMERICA: ELECTROLYZERS MARKET, BY TECHNOLOGY,
2020–2023 (USD MILLION) 154
TABLE 138 NORTH AMERICA: ELECTROLYZERS MARKET, BY TECHNOLOGY,
2024–2030 (USD MILLION) 154
TABLE 139 NORTH AMERICA: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (KW) 155
TABLE 140 NORTH AMERICA: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (KW) 155
TABLE 141 NORTH AMERICA: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 155
TABLE 142 NORTH AMERICA: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 156
TABLE 143 NORTH AMERICA: ELECTROLYZERS MARKET, BY POWER RATING,
2020–2023 (USD MILLION) 156
TABLE 144 NORTH AMERICA: ELECTROLYZERS MARKET, BY POWER RATING,
2024–2030 (USD MILLION) 156
TABLE 145 NORTH AMERICA: ELECTROLYZERS MARKET, BY COUNTRY, 2020–2023 (KW) 157
TABLE 146 NORTH AMERICA: ELECTROLYZERS MARKET, BY COUNTRY, 2024–2030 (KW) 157
TABLE 147 NORTH AMERICA: ELECTROLYZERS MARKET, BY COUNTRY,
2020–2023 (USD MILLION) 157
TABLE 148 NORTH AMERICA: ELECTROLYZERS MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 157
TABLE 149 US: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 159
TABLE 150 US: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 159
TABLE 151 CANADA: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 160
TABLE 152 CANADA: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 160
TABLE 153 ROW: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2020–2023 (KW) 161
TABLE 154 ROW: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2024–2030 (KW) 161
TABLE 155 ROW: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION) 162
TABLE 156 ROW: ELECTROLYZERS MARKET, BY TECHNOLOGY, 2024–2030 (USD MILLION) 162
TABLE 157 ROW: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (KW) 162
TABLE 158 ROW: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (KW) 163
TABLE 159 ROW: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 163
TABLE 160 ROW: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 163
TABLE 161 ROW: ELECTROLYZERS MARKET, BY POWER RATING, 2020–2023 (USD MILLION) 164
TABLE 162 ROW: ELECTROLYZERS MARKET, BY POWER RATING, 2024–2030 (USD MILLION) 164
TABLE 163 ROW: ELECTROLYZERS MARKET, BY COUNTRY, 2020–2023 (KW) 164
TABLE 164 ROW: ELECTROLYZERS MARKET, BY COUNTRY, 2024–2030 (KW) 165
TABLE 165 GCC: ELECTROLYZERS MARKET, BY COUNTRY, 2020–2023 (KW) 165
TABLE 166 GCC: ELECTROLYZERS MARKET, BY COUNTRY, 2024–2030 (KW) 165
TABLE 167 ROW: ELECTROLYZERS MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 166
TABLE 168 ROW: ELECTROLYZERS MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 166
TABLE 169 GCC: ELECTROLYZERS MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 166
TABLE 170 GCC: ELECTROLYZERS MARKET, BY COUNTRY, 2024–2030 (MILLION) 167
TABLE 171 EGYPT: ELECTROLYZERS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 167
TABLE 172 EGYPT: ELECTROLYZERS MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 168
TABLE 173 SAUDI ARABIA: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 169
TABLE 174 SAUDI ARABIA: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 169
TABLE 175 OTHER GCC COUNTRIES: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 170
TABLE 176 OTHER GCC COUNTRIES: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 170
TABLE 177 OTHER COUNTRIES: ELECTROLYZERS MARKET, BY APPLICATION,
2020–2023 (USD MILLION) 171
TABLE 178 OTHER COUNTRIES: ELECTROLYZERS MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 171
TABLE 179 ELECTROLYZERS MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2020–2024 172
TABLE 180 ELECTROLYZERS MARKET: DEGREE OF COMPETITION, 2023 175
TABLE 181 MARKET EVALUATION FRAMEWORK, 2020–2024 177
TABLE 182 ELECTROLYZERS MARKET: REGION FOOTPRINT 185
TABLE 183 ELECTROLYZERS MARKET: TECHNOLOGY FOOTPRINT 186
TABLE 184 ELECTROLYZERS MARKET: APPLICATION FOOTPRINT 187
TABLE 185 ELECTROLYZERS MARKET: POWER RATING FOOTPRINT 188
TABLE 186 ELECTROLYZERS MARKET: DETAILED LIST OF KEY STARTUPS/SMES 191
TABLE 187 ELECTROLYZERS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 192
TABLE 188 ELECTROLYZERS MARKET: PRODUCT LAUNCHES,
JANUARY 2020–NOVEMBER 2024 193
TABLE 189 ELECTROLYZERS MARKET: DEALS, JANUARY 2020–NOVEMBER 2024 194
TABLE 190 ELECTROLYZERS MARKET: EXPANSIONS, JANUARY 2020–NOVEMBER 2024 195
TABLE 191 ELECTROLYZERS MARKET: OTHER DEVELOPMENTS,
JANUARY 2020–NOVEMBER 2024 196
TABLE 192 THYSSENKRUPP NUCERA: COMPANY OVERVIEW 199
TABLE 193 THYSSENKRUPP NUCERA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 194 THYSSENKRUPP NUCERA: DEALS 201
TABLE 195 THYSSENKRUPP NUCERA: EXPANSIONS 203
TABLE 196 THYSSENKRUPP NUCERA: OTHER DEVELOPMENTS 203
TABLE 197 JOHN COCKERILL: COMPANY OVERVIEW 207
TABLE 198 JOHN COCKERILL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
TABLE 199 JOHN COCKERILL: DEALS 208
TABLE 200 JOHN COCKERILL: EXPANSIONS 209
TABLE 201 JOHN COCKERILL: OTHER DEVELOPMENTS 210
TABLE 203 NEL ASA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 214
TABLE 204 NEL ASA: PRODUCT LAUNCHES 215
TABLE 205 NEL ASA: DEALS 216
TABLE 206 NEL ASA: EXPANSIONS 218
TABLE 207 NEL ASA: OTHER DEVELOPMENTS 219
TABLE 208 SIEMENS ENERGY: COMPANY OVERVIEW 224
TABLE 209 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 226
TABLE 210 SIEMENS ENERGY: DEALS 226
TABLE 211 SIEMENS ENERGY: EXPANSIONS 227
TABLE 212 SIEMENS ENERGY: OTHER DEVELOPMENTS 228
TABLE 213 PLUG POWER INC.: COMPANY OVERVIEW 230
TABLE 214 PLUG POWER INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 231
TABLE 215 PLUG POWER INC.: DEALS 232
TABLE 216 PLUG POWER INC.: EXPANSIONS 234
TABLE 217 PLUG POWER INC.: OTHER DEVELOPMENTS 235
TABLE 218 ENAPTER S.R.L.: COMPANY OVERVIEW 239
TABLE 219 ENAPTER S.R.L.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 240
TABLE 220 ENAPTER S.R.L.: PRODUCT LAUNCHES 242
TABLE 221 ENAPTER S.R.L.: DEALS 243
TABLE 222 ENAPTER S.R.L.: EXPANSIONS 244
TABLE 223 ENAPTER S.R.L.: OTHER DEVELOPMENTS 244
TABLE 224 CUMMINS INC.: COMPANY OVERVIEW 247
TABLE 225 CUMMINS INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 248
TABLE 226 CUMMINS INC.: DEALS 249
TABLE 227 CUMMINS INC.: EXPANSIONS 251
TABLE 228 CUMMINS INC.: OTHER DEVELOPMENTS 252
TABLE 229 ITM POWER PLC: COMPANY OVERVIEW 254
TABLE 230 ITM POWER PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 255
TABLE 231 ITM POWER PLC: DEALS 256
TABLE 232 ITM POWER PLC: EXPANSIONS 258
TABLE 233 ITM POWER PLC: OTHER DEVELOPMENTS 259
TABLE 234 MCPHY ENERGY S.A.: COMPANY OVERVIEW 262
TABLE 235 MCPHY ENERGY S.A.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 263
TABLE 236 MCPHY ENERGY S.A.: DEALS 264
TABLE 237 MCPHY ENERGY S.A.: OTHER DEVELOPMENTS 266
TABLE 238 LONGI: COMPANY OVERVIEW 267
TABLE 239 LONGI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 269
TABLE 240 LONGI: PRODUCT LAUNCHES 270
TABLE 241 LONGI: DEALS 270
TABLE 242 LONGI: EXPANSIONS 271
TABLE 243 LONGI: OTHER DEVELOPMENTS 271
TABLE 244 SUNFIRE GMBH: COMPANY OVERVIEW 272
TABLE 245 SUNFIRE GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 272
TABLE 246 SUNFIRE GMBH: DEALS 273
TABLE 247 SUNFIRE GMBH: EXPANSIONS 274
TABLE 248 SUNFIRE GMBH: OTHER DEVELOPMENTS 274
TABLE 249 BLOOM ENERGY: COMPANY OVERVIEW 278
TABLE 250 BLOOM ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 279
TABLE 251 BLOOM ENERGY: DEALS 280
TABLE 252 BLOOM ENERGY: EXPANSIONS 280
TABLE 253 BLOOM ENERGY: OTHER DEVELOPMENTS 281
TABLE 254 BEIJING SINOHY ENERGY CO., LTD.: COMPANY OVERVIEW 282
TABLE 255 BEIJING SINOHY ENERGY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 282
TABLE 256 BEIJING SINOHY ENERGY CO., LTD.: DEALS 284
TABLE 257 BEIJING SINOHY ENERGY CO., LTD.: OTHER DEVELOPMENTS 285
TABLE 258 ASAHI KASEI CORPORATION: COMPANY OVERVIEW 286
TABLE 259 ASAHI KASEI CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 288
TABLE 260 ASAHI KASEI CORPORATION: DEALS 288
TABLE 261 ASAHI KASEI CORPORATION: EXPANSIONS 290
TABLE 262 ASAHI KASEI CORPORATION: OTHER DEVELOPMENTS 290
TABLE 263 NEXT HYDROGEN: COMPANY OVERVIEW 292
TABLE 264 NEXT HYDROGEN: PRODUCTS/SOLUTIONS/SERVICES OFFERED 293
TABLE 265 NEXT HYDROGEN: DEALS 293
TABLE 266 NEXT HYDROGEN: OTHER DEVELOPMENTS 295
LIST OF FIGURES
FIGURE 1 ELECTROLYZERS MARKET SEGMENTATION AND REGIONAL SCOPE 25
FIGURE 2 ELECTROLYZERS MARKET: RESEARCH DESIGN 29
FIGURE 3 DATA TRIANGULATION METHODOLOGY 34
FIGURE 4 ELECTROLYZERS MARKET: BOTTOM-UP APPROACH 35
FIGURE 5 ELECTROLYZERS MARKET: TOP-DOWN APPROACH 36
FIGURE 6 KEY METRICS CONSIDERED TO ANALYZE DEMAND
FOR ELECTROLYZERS (DEMAND SIDE) 37
FIGURE 7 KEY METRICS CONSIDERED TO ANALYZE SUPPLY OF ELECTROLYZERS 39
FIGURE 8 ELECTROLYZERS MARKET: SUPPLY SIDE ANALYSIS 39
FIGURE 9 EUROPE DOMINATED MARKET IN 2023 43
FIGURE 10 ALKALINE ELECTROLYZER TO SECURE LARGEST MARKET SHARE IN 2024 44
FIGURE 11 MOBILITY SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024 44
FIGURE 12 >500 KW SEGMENT TO DOMINATE MARKET IN 2024 45
FIGURE 13 GROWING EMPHASIS ON DECARBONIZATION AND ADOPTION OF HYDROGEN-BASED ECONOMY TO DRIVE MARKET DURING FORECAST PERIOD 46
FIGURE 14 JAPAN TO WITNESS SIGNIFICANT GROWTH RATE DURING FORECAST PERIOD 47
FIGURE 15 ALKALINE ELECTROLYZER TO DOMINATE MARKET IN 2030 47
FIGURE 16 MOBILITY SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030 48
FIGURE 17 <500 KW SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2030 48
FIGURE 18 >2,000 KW SEGMENT AND US DOMINATED MARKET IN 2023 49
FIGURE 19 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 50
FIGURE 20 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 55
FIGURE 21 SUPPLY CHAIN ANALYSIS 56
FIGURE 22 ELECTROLYZERS ECOSYSTEM 57
FIGURE 23 PATENTS APPLIED AND GRANTED, 2013–2023 63
FIGURE 24 EXPORT DATA FOR HS CODE 280410-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD THOUSAND) 71
FIGURE 25 IMPORT DATA FOR HS CODE 280410-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD THOUSAND) 72
FIGURE 26 AVERAGE SELLING PRICE TREND OF ELECTROLYZERS, BY REGION, 2020–2023 73
FIGURE 27 MANUFACTURING COST ANALYSIS OF PEM ELECTROLYZERS, 2023 74
FIGURE 28 ELECTROLYZERS MARKET: PORTER’S FIVE FORCES ANALYSIS 77
FIGURE 29 KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE APPLICATIONS 79
FIGURE 30 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 80
FIGURE 31 IMPACT OF AI/GENERATIVE AI, BY APPLICATION 83
FIGURE 32 INVESTMENT AND FUNDING SCENARIO 85
FIGURE 33 >2,000 KW SEGMENT DOMINATED MARKET IN 2023 89
FIGURE 34 MOBILITY SEGMENT HELD LARGEST MARKET SHARE IN 2023 95
FIGURE 35 ALKALINE ELECTROLYZER HELD LARGEST MARKET SHARE IN 2023 110
FIGURE 36 EUROPE ACCOUNTED FOR LARGEST MARKET SHARE IN 2023 121
FIGURE 37 ASIA PACIFIC: ELECTROLYZERS MARKET SNAPSHOT 123
FIGURE 38 EUROPE: ELECTROLYZERS MARKET SNAPSHOT 135
FIGURE 39 MARKET SHARE ANALYSIS OF COMPANIES OFFERING ELECTROLYZERS, 2023 175
FIGURE 40 ELECTROLYZERS MARKET: REVENUE ANALYSIS OF
FIVE KEY PLAYERS, 2019–2023 178
FIGURE 41 ELECTROLYZERS MARKET: BRAND/PRODUCT COMPARISON 179
FIGURE 42 COMPANY EVALUATION, 2024 180
FIGURE 43 FINANCIAL METRICS (EV/EBITDA), 2024 180
FIGURE 44 ELECTROLYZERS MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 182
FIGURE 45 ELECTROLYZERS MARKET: OVERALL PRODUCT FOOTPRINT 183
FIGURE 46 ELECTROLYZERS MARKET: MARKET FOOTPRINT 184
FIGURE 47 ELECTROLYZERS MARKET: STARTUPS/SMES EVALUATION MATRIX, 2023 190
FIGURE 48 THYSSENKRUPP NUCERA: COMPANY SNAPSHOT 200
FIGURE 49 NEL ASA: COMPANY SNAPSHOT 213
FIGURE 50 SIEMENS ENERGY: COMPANY SNAPSHOT 225
FIGURE 51 PLUG POWER INC.: COMPANY SNAPSHOT 231
FIGURE 52 ENAPTER S.R.L.: COMPANY SNAPSHOT 240
FIGURE 53 CUMMINS INC.: COMPANY SNAPSHOT 248
FIGURE 54 ITM POWER PLC: COMPANY SNAPSHOT 255
FIGURE 55 MCPHY ENERGY S.A.: COMPANY SNAPSHOT 263
FIGURE 56 LONGI: COMPANY SNAPSHOT 268
FIGURE 57 BLOOM ENERGY: COMPANY SNAPSHOT 279
FIGURE 58 ASAHI KASEI CORPORATION: COMPANY SNAPSHOT 287
FIGURE 59 NEXT HYDROGEN: COMPANY SNAPSHOT 292