About Hydrogen Electrolyzer
Electrolysis is a promising alternative for hydrogen production through renewable resources. In electrolysis, electricity is used to split water into oxygen and hydrogen in a system known as an electrolyzer. A hydrogen electrolyzer is a system with an electrolyte solution, in which the electrodes such as anode and cathode have been placed. The anode is connected to the positive side whereas the cathode is connected to the negative side.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.1% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that German, France, and Switzerland Manufacturers will contribute the maximum growth to Global Hydrogen Electrolyzer market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nel ASA (Norway), McPhy Energy (France), Hydrogenics GmbH (Germany), Tianjin Mainland Hydrogen Equipment (China), Giner (United States), Siemens (Germany), Areva H2Gen (France), GreenHydrogen (Denmark), IGas Energy Plc (United Kingdom) and Accagen SA (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Pure Energy Centre (United Kingdom) and IHT (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Hydrogen Electrolyzer market by Type (Polymer Electrolyte Membrane (PEM) Electrolyzer, Alkaline Electrolyzer and Solid Oxide Electrolyzer) and Region.
On the basis of geography, the market of Hydrogen Electrolyzer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2023. If we see Market by Industry, the sub-segment i.e. Conventional Industry {Food Industry, Glass Industry, Chemical industry, Steel Industry, Power Industry, and Others} will boost the Hydrogen Electrolyzer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Size, the sub-segment i.e. Small & Medium Units will boost the Hydrogen Electrolyzer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Hydrogen Is Already Outcompeting Fossil Fuels in Several Places in the World
Market Growth Drivers:
A Rise in the Use of Hydrogen in Refinery Hydro-Processing, Increased Need for Eliminating High Hydrogen Transport Costs, Rise in Demand for Eco-Friendly Fuels as an Energy Source and Supportive Government Regulations towards Use of Hydrogen
Challenges:
The Market is Highly Concentrated As there are Already Established Players
Opportunities:
Decreasing Electrolyzer CAPEX and Hydrogen Has Potential to Become a Preferred Fuel Alternative In The Future
Market Leaders and their expansionary development strategies
Renewable energy startup Ohmium International announced the start of India's first green hydrogen electrolyzer gigafactory that will turn power from renewable sources into carbon-free hydrogen. The Bengaluru plant will have an initial manufacturing capacity of 500 MW per year, with plans to scale to 2 GW (2000 MW), the firm said in a statement.
Key Target Audience
Hydrogen Electrolyzer Manufacturers, Hydrogen Electrolyzer Sub Component Manufacturers, Hydrogen Electrolyzer Traders/Distributors, Hydrogen Electrolyzer Importer/Exporter, Regulatory & Government Bodies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.