Electrolyzers Market Share Expected to Reach $78.01 billion by 2030

The global electrolyzers market share is expected to grow from estimated $3.75 billion in 2024 to $78.01 billion by 2030, at a CAGR of 65.9% during the forecast period.
The global Electrolyzers Market Share [https://www.marketsandmarkets.com/Market-Reports/electrolyzers-market-23889518.html?utm_source=abnewswire.com&utm_medium=referral] is expected to grow from estimated USD 3.75 billion in 2024 to USD 78.01 billion by 2030, at a CAGR of 65.9% during the forecast period. This growth mainly comes in response to supportive government initiatives that encourage renewable energy technologies as well as advancements in the electrolysis process. Electrolyzers play a crucial role in the production of hydrogen since they split water into hydrogen and oxygen using electricity that can be generated from renewable sources, such as solar and wind energies. As nations accelerate efforts to decarbonize and reduce the reliance on fossil fuels, electrolyzers are increasingly important in diverse applications involving power generation, transportation, or industrial processes. The recent interest in hydrogen fuel cells and green ammonia production further underlines the potential of the electrolyser market as the basis of global energy transition towards sustainable solutions.

Regional Analysis

Europe is the leading region for the Electrolyzer Market primarily due to its strengthened commitment to decarbonization and a more developed framework for adopting renewable energy. Most European countries have launched ambitious hydrogen strategies and policies, such as the European Green Deal and the "Fit for 55" package, which give priority to the production of green hydrogen to reach net-zero emission goals. The region sees considerable investment in renewable energy infrastructure, especially solar and wind power with seamless integration with technologies such as electrolyzers. Furthermore, Europe has an impressive industrial base and proactive collaborations between governments, private enterprises, and research institutions: a confluence that helps establish innovation and the scaling of electrolyzer production. This strategic focus puts Europe at the helm of the race toward a global hydrogen economy.

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Anion exchange membrane, by Technology

Anion exchange membrane (AEM) is now becoming the most rapidly growing technology in the Electrolyzers Market, owing to its unique combination of cost-effectiveness and performance efficiency. While PEM systems are rather expensively made using precious metal catalysts, non-precious metal catalysts are used in AEM, making them much cheaper. Besides this, the possibility of low-energy operation and compatibility with renewable sources makes it even more attractive during transition into green hydrogen. Membrane technology and scalability in the manufacturing processes further increase the efficiency of and robustness of AEM-based electrolyzers faster and make them favourites for those industries that look for low-cost, environmentally friendly hydrogen production.

The

Key Players

Some of the major players in the Electrolyzers Market as Siemens Energy (Germany), Nel ASA (Norway), thyssenkrupp nucera (Germany), John Cockerill (Belgium), Plug Power Inc. (US), among others. The major strategies adopted by these players include new product launches, acquisitions, joint ventures, and expansions.

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Thyssenkrupp nucera

Thyssenkrupp nucera is a cleantech company and a leading provider of hydrogen and chlorine technologies. thyssenkrupp nucera, formerly known as Uhde Chlorine Engineers, was established as a joint venture between Industrie De Nora and thyssenkrupp AG. The company primarily deals in the supply of clean energy with green hydrogen at an industrial scale. thyssenkrupp nucera offers chlor-alkali and alkaline water electrolysis procedures for producing sustainable aviation fuels, hydrogen, chlorine, and others. The net hydrogen produced through its electrolyzers can cater to a very wide scope of applications: ranging from energy-notably, mobility-and various other industries. In addition, the company provides solutions for integrating grid-scale renewable energy and industrial-scale hydrogen use. thyssenkrupp nucera is also engaged in engineering, procurement, and construction of electrochemical plants. In 2022, the company signed an engineering and supply contract with Shell plc to set up a 200 MW green hydrogen facility in Rotterdam, Netherlands. The company enjoys a good presence in Japan and Germany.

John Cockerill

John Cockerill, formerly known as CMI Group, designs, integrates, upgrades, and maintains equipment across energy, defense, steelmaking, environmental, and general industrial sectors. It also serves energy, environment, transport, hydrogen, solar, cooling, wind, nuclear, innovation, mobility, maintenance, water treatment, air & gas treatment, and waste to energy sector. The company has a solid presence in metals, heat treatment, surface treatment, and industrial project services, providing a wide array of solutions designed to meet diverse industrial needs. Through its hydrogen division, the company supplies alkaline electrolyzers for various applications, including energy, industry, and mobility.for various applications, such as energy, industrial, and mobility. The company also offers electrolyzers through its joint venture Cockerill Jingli Hydrogen (CJH). John Cockerill provides the most robust electrolyzers in the market, with the capacity to generate up to 1,300 Nm per hour, equating to 6.5 MW.The company has a presence in 24 countries across 5 continents. In December 2023, John Cockerill has entered the North American market with the groundbreaking of its first alkaline electrolyzer gigafactory in Baytown, Texas.

Nel ASA

Nel ASA is a hydrogen company specializing in electrolysers, hydrogen generation plants, hydrogen refueling stations, distributed energy systems, and energy storage. It designs solutions to produce and distribute hydrogen generated from renewable energy sources. The company also focuses on providing turnkey solutions for hydrogen energy storage. Various industries and energy & gas companies are major end users of its hydrogen technology. Nel ASA operates through two business segments: FUELING and Electrolyzer. It serves Electrolyzer Market through its Electrolyzer business segment. Under this, the company offers hydrogen production equipment and plants based on electrolyzer technology and power-to-gas systems. Nel ASA specializes in alkaline and proton exchange membrane (PEM) electrolyzers. It produces green hydrogen by harnessing energy from renewable sources such as solar and wind. The electrolyzers offered by the company have applications in various industries, such as chemicals, refining, metals, electronics, and others. The company has operations worldwide and a presence in approximately 20 countries. It has manufacturing facilities in Notodden, Norway; Wallingford, UK; and Connecticut, US. Its production facilities in Norway and Connecticut are utilized to manufacture electrolyzers. Since its establishment, the company has delivered approximately 2,700 proton exchange membrane (PEM) electrolyzers and 800 alkaline electrolyzers in more than 80 countries worldwide.

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