Global Hydrogen Electrolyzer Market Report and Forecast 2023-2028

Global Hydrogen Electrolyzer Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global hydrogen electrolyzer market grew significantly in 2022. Aided by the escalating demand for clean energy solutions and the pivotal role of hydrogen in a low-carbon economy, the market is projected to further grow at a CAGR of 9.3% between 2023 and 2028 to reach a value of USD 787.19 million by 2028.

Hydrogen electrolyzers are devices designed to decompose water into hydrogen and oxygen using electrical energy. As the world shifts towards sustainable energy sources, hydrogen stands out as a potent contender due to its high energy content and eco-friendly nature. The hydrogen produced by electrolyzers is particularly vital because of its 'green' pedigree, differing from traditional hydrogen sourced from fossil fuels.

As per the hydrogen electrolyzer market analysis, two primary factors are driving the exponential growth of the market. Firstly, the global emphasis on reducing carbon footprints and transitioning to sustainable energy solutions is more pronounced than ever. Hydrogen, being a clean fuel, is seeing increased adoption in sectors like transportation, where fuel cell vehicles powered by hydrogen are gaining traction.

Furthermore, nations worldwide are formulating and implementing green energy policies, with hydrogen being a focal point. As governments and private entities collaborate to develop hydrogen infrastructure, including refuelling stations and pipelines, the demand for hydrogen electrolyzers, which serve as the backbone of this infrastructure, witnesses a substantial upswing.

The versatility of hydrogen also plays a pivotal role in the burgeoning hydrogen electrolyzer market growth. Beyond transportation, hydrogen is permeating sectors such as power generation, where it acts as an energy storage solution. Given the intermittent nature of renewable sources like wind and solar, hydrogen serves as an excellent medium to store and release energy as needed, ensuring power grids' reliability and resilience.

Additionally, the industrial segment is a massive consumer of hydrogen, particularly in refining, ammonia production, and metallurgy, propelling the hydrogen electrolyzer market demand. As industries seek to decarbonise their operations, green hydrogen produced by electrolyzers presents itself as a viable and environmentally conscious alternative to conventional hydrogen.

One of the most encouraging hydrogen electrolyzer market trends in the sector is the collaborative efforts by industry players, research institutions, and governments. With initiatives like the Hydrogen Council and the Green Hydrogen Catapult, stakeholders are coming together to accelerate the development of green hydrogen solutions, signifying a bright future for the market.

Market Segmentation

The market can be divided based on type, end use, and region.

Market Breakup by Type
  • PEM Electrolyzer
  • Alkaline Water Electrolyzer
  • Solid Oxide Electrolyzer
Market Breakup by End Use
  • Chemicals
  • Automobile
  • Energy
  • Glass
  • Metal
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global hydrogen electrolyzer market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Enapter S.r.l.
  • MVS Engineering Pvt. Ltd
  • Pure Energy Centre
  • Cummins, Inc
  • ITM Power plc
  • McPhy Energy S.A
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Hydrogen Electrolyzer Market Analysis
8.1 Key Industry Highlights
8.2 Global Hydrogen Electrolyzer Historical Market (2018-2022)
8.3 Global Hydrogen Electrolyzer Market Forecast (2023-2028)
8.4 Global Hydrogen Electrolyzer Market by Type
8.4.1 PEM Electrolyzer
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Alkaline Water Electrolyzer
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Solid Oxide Electrolyzer
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 Global Hydrogen Electrolyzer Market by End Use
8.5.1 Chemicals
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Automobile
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Energy
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Glass
8.5.7.1 Historical Trend (2018-2022)
8.5.7.2 Forecast Trend (2023-2028)
8.5.5 Metal
8.5.8.1 Historical Trend (2018-2022)
8.5.8.2 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Hydrogen Electrolyzer Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Hydrogen Electrolyzer Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Hydrogen Electrolyzer Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Hydrogen Electrolyzer Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Hydrogen Electrolyzer Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Hydrogen Electrolyzer Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Enapter S.r.l.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 MVS Engineering Pvt. Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Pure Energy Centre
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Cummins, Inc
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 ITM Power plc
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 McPhy Energy S.A
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investments
List of Key Figures and Tables
1. Global Hydrogen Electrolyzer Market: Key Industry Highlights, 2018 and 2028
2. Global Hydrogen Electrolyzer Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global Hydrogen Electrolyzer Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global Hydrogen Electrolyzer Historical Market: Breakup by End Use (USD Billion), 2018-2022
5. Global Hydrogen Electrolyzer Market Forecast: Breakup by End Use (USD Billion), 2023-2028
6. Global Hydrogen Electrolyzer Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Hydrogen Electrolyzer Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Hydrogen Electrolyzer Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Hydrogen Electrolyzer Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Hydrogen Electrolyzer Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Hydrogen Electrolyzer Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Hydrogen Electrolyzer Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Hydrogen Electrolyzer Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Hydrogen Electrolyzer Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Hydrogen Electrolyzer Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Hydrogen Electrolyzer Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Hydrogen Electrolyzer Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Global Hydrogen Electrolyzer Market Structure

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