Global Hydrogen Electrolyzer Market Accounted for US$ 346.9 Mn in 2022, Growing at a CAGR of 8.2% over the Forecast Period (2023 – 2031)

A hydrogen electrolyzer is a device that uses electricity to split water (H2O) into its constituent elements: hydrogen (H2) and oxygen (O2). This process is called electrolysis, and it involves passing an electric current through an electrolyte (usually water) to drive a chemical reaction.

The basic components of a hydrogen electrolyzer include:

• Electrolyte: This is the medium through which the electric current passes. In most cases, distilled water is used as the electrolyte. However, electrolytes with additives or special properties can be used to enhance the efficiency and durability of the electrolyzer.
• Electrodes: Electrodes are typically made of conductive materials, such as metals like platinum, iridium, or nickel. There are two types of electrodes:
  • Anode: The anode is the electrode connected to the positive terminal of the power source. At the anode, water molecules are oxidized, releasing oxygen gas (O2) and electrons (e^-).
  • Cathode: The cathode is the electrode connected to the negative terminal of the power source. At the cathode, electrons from the anode combine with hydrogen ions (H+) in the electrolyte to form hydrogen gas (H2).
• Power Source: A direct current (DC) power source is used to provide the electrical energy needed for the electrolysis process. The voltage and current supplied by the power source determine the rate of hydrogen and oxygen gas production.
• Separator: A separator is used to prevent the mixing of hydrogen and oxygen gases that are produced during electrolysis. This is important because hydrogen and oxygen gases are highly flammable when mixed together.

Surging Need for Producing High-Purity Hydrogen: Driving the Adoption of Proton Exchange Membrane (Pem) Electrolyzer in the Global Hydrogen Electrolyzer Market

PEM electrolyzers offer several advantages that make them well-suited for applications where high-purity hydrogen is essential:

• High Purity: PEM electrolyzers are capable of producing high-purity hydrogen gas (typically 99.999% pure or higher). This level of purity is often required for applications such as fuel cells used in automotive, aerospace, and stationary power generation.
• Efficiency: PEM electrolyzers are known for their high efficiency, especially at partial load conditions. This means they can respond quickly to changes in electricity supply and demand, making them suitable for intermittent renewable energy sources like wind and solar.
• Compact Design: These electrolyzers are relatively compact and lightweight compared to other types of electrolyzers, such as alkaline electrolyzers. This makes them more suitable for decentralized and mobile applications, propelling its dominance in the global hydrogen electrolyzer market.
• Fast Start-up and Shutdown: They can start up and shut down rapidly, allowing for dynamic response to changes in hydrogen demand. This feature is particularly important in applications like hydrogen refuelling stations for fuel cell vehicles.
• No Alkali Metals: Unlike alkaline electrolyzers, PEM electrolyzers do not require alkali metals as electrolyte materials. This eliminates concerns related to the handling and disposal of hazardous materials.
• Low Maintenance: PEM electrolyzers typically have lower maintenance requirements compared to other types of electrolyzers in the global hydrogen electrolyzer market, which can reduce operating costs over the long term.

Government bodies and industries around the world are investing in hydrogen infrastructure and technologies to support the transition to a low-carbon and hydrogen-based economy. PEM electrolyzers are a critical component of this infrastructure, enabling the production of clean hydrogen from renewable energy sources and contributing to efforts to reduce greenhouse gas emissions. All these factor account for PEM electrolyzers dominant market share in the global hydrogen electrolyzer market.

Transportation Showcasing Promising Applications in the Global Hydrogen Electrolyzer Market

• Zero-Emissions Vehicles: Hydrogen fuel cell vehicles (FCVs) are considered zero-emission vehicles because they produce no harmful tailpipe emissions. This makes hydrogen a compelling option for reducing greenhouse gas emissions and improving air quality, particularly in the transportation sector, boosting the growth of the global hydrogen electrolyzer market.
• Longer Driving Range: Hydrogen FCVs typically offer longer driving ranges compared to battery electric vehicles (BEVs). This is particularly important for applications like long-haul trucking, where extended range is essential.
• Fast Refuelling: Hydrogen refuelling is much quicker than recharging electric vehicle batteries. This “fast refuelling” characteristic is crucial for fleet operators and individuals who require rapid turnaround times.
• Versatility: Hydrogen can be used in various modes of transportation, including passenger vehicles, trucks, buses, trains, ships, and even aircraft. This versatility makes it suitable for a wide range of applications in the global hydrogen electrolyzer market.
• Reducing Dependency on Fossil Fuels: Hydrogen production using electrolyzers can be powered by renewable energy sources, such as wind and solar. This reduces the transportation sector’s reliance on fossil fuels and aligns with clean energy and sustainability goals.
• Energy Storage Integration: Hydrogen can play a role in energy storage for transportation. Excess renewable energy can be used to produce hydrogen through electrolysis, which can then be stored and used to power vehicles when needed.
• Government Support: Many government bodies around the world are providing incentives and support for the adoption of hydrogen fuel cell vehicles and associated infrastructure, including hydrogen production through electrolysis.

Global Hydrogen Electrolyzer Market Report Summary

• Heavy-Duty Applications: Hydrogen is particularly well-suited for heavy-duty and commercial transportation, including trucks, buses, and trains. These applications benefit from the high energy density and quick refuelling properties of hydrogen, pushing the global hydrogen electrolyzer market.
• Reducing Carbon Footprint: Hydrogen produced through electrolysis using renewable energy sources can significantly reduce the carbon footprint of the transportation sector, helping countries meet their emissions reduction targets.
• Hydrogen Ecosystem Development: The growth of hydrogen refueling infrastructure is expanding, making it increasingly viable for consumers and businesses to adopt hydrogen FCVs. Manufacturers, energy companies, and governments are investing in developing this ecosystem.

Report SnapshotGlobal Hydrogen Electrolyzer Market

Key operating players in the global hydrogen electrolyzer market are:

• Air Liquide
• Bloom Energy
• Cockerill Jingli Hydrogen
• Cummins, Inc.
• ECPlaza Network Inc.
• Enapter
• Fuel Cell Store
• McPhy Energy
• Nel ASA
• Ohmium
• Proton Onsit
• Shandong Saikesaisi Hydrogen Energy Co, Ltd.
• Siemens Energy
• TianJin Mainland Hydrogen Equipment Co., Ltd
• Other Market Participants

Global Hydrogen Electrolyzer Market Insights

Global Hydrogen Electrolyzer Market

By  Product

• Alkaline Electrolyzer
• PEM Electrolyzer
• Solid Oxide Electrolyzer

By Capacity

• 120-1000kW
• 1000kW- 2000kW
• More than 2000kW

By Application

• Energy and Power generation
• Methanol production
• Ammonia production
• Petroleum Refining
• Agriculture
• Transportation
• Metal production and fabrication
• Glass Production
• Pharmaceutical
• Others

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

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***Exclusive for Multi-User and Enterprise User.

Global Hydrogen Electrolyzer Market

By Product

By Capacity

By Application

By Region

**Note: The report covers cross-segmentation analysis by region further into countries

The Niche Research approach encompasses both primary and secondary research methods to provide comprehensive insights. While primary research is the cornerstone of our studies, we also incorporate secondary research sources such as company annual reports, premium industry databases, press releases, industry journals, and white papers.

Within our primary research, we actively engage with various industry stakeholders, conducting paid interviews and surveys. Our meticulous analysis extends to every market participant in major countries, allowing us to thoroughly examine their portfolios, calculate market shares, and segment revenues.

Our data collection primarily focuses on individual countries within our research scope, enabling us to estimate regional market sizes. Typically, we employ a bottom-up approach, meticulously tracking trends in different countries. We analyze growth drivers, constraints, technological innovations, and opportunities for each country, ultimately arriving at regional figures.Our process begins by examining the growth prospects of each country. Building upon these insights, we project growth and trends for the entire region. Finally, we utilize our proprietary model to refine estimations and forecasts.

Our data validation standards are integral to ensuring the reliability and accuracy of our research findings. Here’s a breakdown of our data validation processes and the stakeholders we engage with during our primary research:

• Supply Side Analysis: We initiate a supply side analysis by directly contacting market participants, through telephonic interviews and questionnaires containing both open-ended and close-ended questions. We gather information on their portfolios, segment revenues, developments, and growth strategies.
• Demand Side Analysis: To gain insights into adoption trends and consumer preferences, we reach out to target customers and users (non-vendors). This information forms a vital part of the qualitative analysis section of our reports, covering market dynamics, adoption trends, consumer behavior, spending patterns, and other related aspects.
• Consultant Insights: We tap into the expertise of our partner consultants from around the world to obtain their unique viewpoints and perspectives. Their insights contribute to a well-rounded understanding of the markets under investigation.
• In-House Validation: To ensure data accuracy and reliability, we conduct cross-validation of data points and information through our in-house team of consultants and utilize advanced data modeling tools for thorough verification.

The forecasts we provide are based on a comprehensive assessment of various factors, including:

• Market Trends and Past Performance (Last Five Years): We accurately analyze market trends and performance data from preceding five years to identify historical patterns and understand the market’s evolution.
• Historical Performance and Growth of Market Participants: We assess the historical performance and growth trajectories of key market participants. This analysis provides insights into the competitive landscape and individual company strategies.
• Market Determinants Impact Analysis (Next Eight Years): We conduct a rigorous analysis of the factors that are projected to influence the market over the next eight years. This includes assessing both internal and external determinants that can shape market dynamics.
• Drivers and Challenges for the Forecast Period:Identify the factors expected to drive market growth during the forecast period, as well as the challenges that the industry may face. This analysis aids in deriving an accurate growth rate projection.
• New Acquisitions, Collaborations, or Partnerships: We keep a close watch on any new acquisitions, collaborations, or partnerships within the industry. These developments can have a significant impact on market dynamics and competitiveness.
• Macro and Micro Factors Analysis:A thorough examination of both macro-level factors (e.g., economic trends, regulatory changes) and micro-level factors (e.g., technological advancements, consumer preferences) that may influence the market during the forecast period.
• End-User Sentiment Analysis: To understand the market from the end-user perspective, we conduct sentiment analysis. This involves assessing the sentiment, preferences, and feedback of the end-users, which can provide valuable insights into market trends.
• Perspective of Primary Participants: Insights gathered directly from primary research participants play a crucial role in shaping our forecasts. Their perspectives and experiences provide valuable qualitative data.
• Year-on-Year Growth Trend: We utilize a year-on-year growth trend based on historical market growth and expected future trends. This helps in formulating our growth projections, aligning them with the market’s historical performance.

Research process adopted by TNR involves multiple stages, including data collection, validation, quality checks, and presentation. It’s crucial that the data and information we provide add value to your existing market understanding and expertise. We have also established partnerships with business consulting, research, and survey organizations across regions and globally to collaborate on regional analysis and data validation, ensuring the highest level of accuracy and reliability in our reports.