Hydrogen Electrolyzer

Hydrogen Electrolyzer


Hydrogen electrolyser is an apparatus that generates hydrogen using a chemical process (electrolysis). It is capable of splitting oxygen and hydrogen molecules with the use of electricity. By using a hydrogen electrolyzer, hydrogen may be created sustainably without releasing carbon dioxide into the atmosphere. This supports the establishment of a decarbonized economy and stimulates market growth. The market for hydrogen electrolysers is being boosted by the increase in demand for methanol in a variety of applications, including biofuel, windshield washer fluid, formaldehyde, acetic acid, and fuel cells. Methanol is produced using a hydrogen electrolyzer, which is also being used more frequently to produce ammonia and refine oil. This fuels the expansion of the market progress.

Global hydrogen electrolyzer market is expected to grow at a significant growth rate of 8% during the forecast period (2023-2030). The power generation units across the globe shifting from traditional battery-based systems for power storage to novel technologies such as hydrogen electrolyzers are driving the market outlook. In addition, surging need for highly efficient and low-space utilizing energy storage systems to handle the electricity produced from solar, wind, and hydropower generation units are primary factors driving the global hydrogen electrolyzers market during the forecast period. In additional in January 2023, Enapter S.r.l received a contract from Adsensys, one of the leading suppliers of fuels, for supplying an AEM Multicore electrolyzer. This electrolyzer can produce about 450 kilograms of green hydrogen per day.
  • Based on product, the market is classified into Alkaline Electrolyzer, PEM Electrolyzer and Solid Oxide Electrolyzer. Currently, PEM electrolyzer captured substantial share in the global hydrogen electrolyzer market. It is mainly owing to its high current densities, compact system design, and rapid response toward current fluctuations. The ongoing adoption of various policies and norms by developing nations to increase the share of renewables in the overall energy mix is set to boost the product adoption.
  • Based on capacity, the market is segmented into ≤ 500 kW, > 500 kW - 2 MW, above 2 MW. Currently > 500 kW - 2 MW segment acquired considerable market share in hydrogen electrolyzer market owing to ongoing electrification programs across off grid/rural areas along with growing industrialization will fuel the market outlook. However, the electrolyzer with capacity above 2 MW are expected to grow at a higher pace during the forecast period.
  • Based on application, the market is segmented Power Generation, Transportation, Industry Energy, Industry Feedstock, Building Heating & Power and Others. Currently power generation segment caters considerable growth. It is mainly owing to an increasing proportion of renewables coupled with increasing infrastructural investments across the commercial sector and the growing need for energy imports will energize the industry dynamics.
  • For a better understanding of the market adoption of the hydrogen electrolyzer, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Europe region emerged as the most significant global hydrogen electrolyzer market, with a 44.11% market revenue share in 2022. Due to the increased adoption of hydrogen electrolyzer the purification of atmosphere, Europe now dominates the hydrogen electrolyzer. The region's expanding hydrogen electrolyzer market results from the rising prevalence of decarbonisation is anticipated to fuel the market growth. During the anticipated period, Europe is anticipated to hold the greatest market share in the hydrogen electrolyzers sector. Germany, the UK, France, Denmark, Austria, Spain, the Netherlands, Norway, and the rest of Europe's markets have all been researched. Currently, fewer than 2% of Europe's energy needs are met by hydrogen, which is mostly used in the production of fertilizers and plastics. The remaining 96% of the continent's energy needs are met by natural gas.
  • Some of the major players operating in the market include Green Hydrogen Systems A/S, Areva H2gen Inc., Giner Inc., Enapter S.r.l., MVS Engineering Pvt. Ltd, Pure Energy Centre, Cummins Inc, ITM Power plc, McPhy Energy S.A, Siemens AG.


1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Main Objective
1.3. Stakeholders
1.4. Limitation
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the Hydrogen Electrolyzer Market
2.2. Research Methodology for the Global Hydrogen Electrolyzer Market
2.3. Respondent Profile
3 MARKET KEY INSIGHTS
4 EXECUTIVE SUMMARY
5 GLOBAL HYDROGEN ELECTROLYZER MARKET COVID-19 IMPACT
6 GLOBAL HYDROGEN ELECTROLYZER MARKET REVENUE (USD MN), 2023-2030F
7 MARKET INSIGHTS BY PRODUCT
7.1. Alkaline Electrolyzer
7.2. PEM Electrolyzer
7.3. Solid Oxide Electrolyzer
8 MARKET INSIGHTS BY CAPACITY
8.1. ≤ 500 kW
8.2. > 500 kW - 2 MW
8.3. Above 2 MW
9 MARKET INSIGHTS BY APPLICATION
9.1. Power Generation
9.2. Transportation
9.3. Industry Energy
9.4. Industry Feedstock
9.5. Building Heating & Power
9.6. Others
10 MARKET INSIGHTS BY REGION
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Rest of North America
10.2. Europe
10.2.1. Germany
10.2.2. United Kingdom
10.2.3. France
10.2.4. Spain
10.2.5. Italy
10.2.6. Rest of Europe
10.3. Asia Pacific
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Rest of Asia-Pacific
10.4. Rest of World
11 HYDROGEN ELECTROLYZER MARKET DYNAMICS
11.1. Market Drivers
11.2. Market Challenges
11.3. Impact Analysis
12 HYDROGEN ELECTROLYZER MARKET OPPORTUNITIES
13 HYDROGEN ELECTROLYZER MARKET TRENDS
15 DEMAND AND SUPPLY SIDE ANALYSIS
15.1. Demand Side Analysis
15.2. Supply Side Analysis
16 VALUE CHAIN ANALYSIS
17 COMPETITIVE SCENARIO
17.1. Porter’s Five Forces Analysis
17.2. Competitive Landscape
18 COMPANY PROFILED
18.1. Green Hydrogen A/s
18.2. Areva H2gen
18.3. Giner Inc.
18.4. Enapter S.r.l.
18.5. MVS Engineering Pvt. Ltd
18.6. Pure Energy Centre
18.7. Cummins Inc.
18.8. ITM Power plc
18.9. McPhy Energy S.A
18.10. Siemens AG
19 DISCLAIMER

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