Hydrogen Electrolyzer Market: By Product Type Electrolyzer, Alkaline Water Electrolyzer, Solid Oxide Electrolyzer), By Capacity, Medium ), Output Pressure, Medium, Low ), By End-User and Geography
Hydrogen Electrolyzer Market size was valued at US$ 445.3 million in 2023 and is expected to grow at a significant CAGR of 10.6% from 2024 to 2030. The global market provides a detailed overview and can be segmented by product type, capacity, output pressure, and end-user. By product type, the hydrogen electrolyzer market has been segmented into Polymer Electrolyte Membrane (PEM) Electrolyzers, Alkaline Water electrolyzers, and Solid Oxide electrolyzers. The polymer electrolyte membrane (PEM) electrolyzer segment is likely to be the largest and fastest-growing segment in terms of type.
Based on capacity, the market is segmented into High (Above 2 MW), Medium (500 kW to 2 MW, and Low (<500 kW). Among these, the high capacity (Above 2 MW) segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on output pressure, the market is segmented into High (? 40 bar), Medium (10 bar - 40 bar), Low (?10 bar). The high (? 40 bar) segment accounts for the largest share in 2021. Medium (10 bar - 40 bar) is the second-largest share during the forecast period 2021-2028. Based on the end-user has been segregated into Chemicals, Automobile, Energy, Food and beverages, Pharmaceutical & Biotechnology, Electronics, Glass, Metal Production and Fabrication, and Others. The chemicals segment is expected to dominate other segments in the hydrogen electrolyzer market. The chemicals segment is expected to witness the highest CAGR during the forecast period according to Precision Business Insights.
In June 2020, Nel Hydrogen received an order from Nikola Motor got a 85 MW alkaline electrolyzers that will produce 8 ton/day of hydrogen for fueling stations.
Study Period
2024-2030Base Year
2023CAGR
10.6%Largest Market
Asia-PacificFastest Growing Market
Asia Pacific
The electrolyte is primarily used to separate anode and cathode from each other. These systems are used to decompose water into hydrogen and oxygen by passing an electric current. Rapid industrialization across emerging economies combined with the growing commercialization of hydrogen to meet energy-efficiency targets will augment the business scenario
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2023 |
US$ 445.3 million |
Market CAGR |
10.6% |
By Product Type |
|
By Capacity |
|
By End User |
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The Hydrogen Electrolyzer Market is projected to expand at a CAGR of 10.6% during the forecast period.
The major players in the global hydrogen electrolyzer market are Asahi Kasei Corp, Cockerill JingLi Hydrogen, Gaztransport and Technigaz SA , Kobe Steel Ltd. McPhy Energy SA, Nel ASA,, Shandong Saikesaisi Hydrogen Energy Co., Ltd , SwissHydrogen SA , Teledyne Technologies Inc Versogen.
Asia Pacific is the fastest-growing region for Hydrogen Electrolyzer Market
1. Executive Summary |
2. Global Hydrogen Electrolyzer Market Introduction |
2.1. Global Hydrogen Electrolyzer Market - Taxonomy |
2.2. Global Hydrogen Electrolyzer Market - Definitions |
2.2.1. By Product Type |
2.2.2. By Capacity |
2.2.3. By Output Pressure |
2.2.4. By End User |
2.2.5. By Region |
3. Global Hydrogen Electrolyzer Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global Hydrogen Electrolyzer Market Dynamic Factors - Impact Analysis |
3.6. Global Hydrogen Electrolyzer Market Competition Landscape |
4. Global Hydrogen Electrolyzer Market Analysis,2019 - 2023 and Forecast, 2024 -2030 |
4.1. Market Analysis,2019 - 2023 and Forecast, 2024 -2030(Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global Hydrogen Electrolyzer Market, By Product Type, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
5.1. Polymer Electrolyte Membrane (PEM) Electrolyzer |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Alkaline Water Electrolyzer |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Solid Oxide Electrolyzer |
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
6. Global Hydrogen Electrolyzer Market, By Capacity, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
6.1. High (Above 2 MW) |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Medium (500 kW to 2 MW |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Low (<500 kW) |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
7. Global Hydrogen Electrolyzer Market, By Output Pressure, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
7.1. High (? 40 bar) |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Medium (10 bar - 40 bar) |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Low (?10 bar) |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8. Global Hydrogen Electrolyzer Market, By End User, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.1. Chemicals |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Automobile |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Energy |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Food and beverages |
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Pharmaceutical & Biotechnology |
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
8.6. Electronics |
8.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.6.3. Market Opportunity Analysis |
8.7. Glass |
8.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.7.3. Market Opportunity Analysis |
8.8. Metal production and Fabrication |
8.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.8.3. Market Opportunity Analysis |
8.9. Others |
8.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
8.9.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.9.3. Market Opportunity Analysis |
9. Global Hydrogen Electrolyzer Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
9.1. North America |
9.1.1. Market Analysis, 2019 - 2023and Forecast, 2024 -2030(Revenue, USD Mn) |
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.1.3. Market Opportunity Analysis |
9.2. Europe |
9.2.1. Market Analysis, 2019 - 2023and Forecast, 2024 -2030(Revenue, USD Mn) |
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.2.3. Market Opportunity Analysis |
9.3. Asia-Pacific |
9.3.1. Market Analysis, 2019 - 2023and Forecast, 2024 -2030(Revenue, USD Mn) |
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.3.3. Market Opportunity Analysis |
9.4. Latin America |
9.4.1. Market Analysis, 2019 - 2023and Forecast, 2024 -2030(Revenue, USD Mn) |
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.4.3. Market Opportunity Analysis |
9.5. Middle East and Africa |
9.5.1. Market Analysis, 2019 - 2023and Forecast, 2024 -2030(Revenue, USD Mn) |
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.5.3. Market Opportunity Analysis |
9.6. Global Hydrogen Electrolyzer Market - Opportunity Analysis Index, By Product Type, Capacity, Output Pressure, End User, and Region, 2024 -2030 |
10. North America Hydrogen Electrolyzer Market Analysis,2019 - 2023 and Forecast, 2024 -2030(Revenue, USD Mn) |
10.1. Product Type Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.1.1. Polymer Electrolyte Membrane (PEM) Electrolyzer |
10.1.2. Alkaline Water Electrolyzer |
10.1.3. Solid Oxide Electrolyzer |
10.2. Capacity Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.2.1. High (Above 2 MW) |
10.2.2. Medium (500 kW to 2 MW |
10.2.3. Low (<500 kW) |
10.3. Output Pressure Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.3.1. High (? 40 bar) |
10.3.2. Medium (10 bar - 40 bar) |
10.3.3. Low (?10 bar) |
10.4. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.4.1. Chemicals |
10.4.2. Automobile |
10.4.3. Energy |
10.4.4. Food and beverages |
10.4.5. Pharmaceutical & Biotechnology |
10.4.6. Electronics |
10.4.7. Glass |
10.4.8. Metal production and Fabrication |
10.4.9. Others |
10.5. Country Analysis 2019 - 2023 and Forecast 2024 -2030by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
10.5.1. USA |
10.5.2. Canada |
10.6. North America Hydrogen Electrolyzer Market - Opportunity Analysis Index, By Product Type, Capacity, Output Pressure, End User, and Country, 2024 -2030 |
10.7. North America Hydrogen Electrolyzer Market Dynamics Trends |
11. Europe Hydrogen Electrolyzer Market Analysis, 2019 - 2023 and Forecast, 2024 -2030(Revenue, USD Mn) |
11.1. Product Type Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.1.1. Polymer Electrolyte Membrane (PEM) Electrolyzer |
11.1.2. Alkaline Water Electrolyzer |
11.1.3. Solid Oxide Electrolyzer |
11.2. Capacity Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.2.1. High (Above 2 MW) |
11.2.2. Medium (500 kW to 2 MW |
11.2.3. Low (<500 kW) |
11.3. Output Pressure Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.3.1. High (? 40 bar) |
11.3.2. Medium (10 bar - 40 bar) |
11.3.3. Low (?10 bar) |
11.4. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.4.1. Chemicals |
11.4.2. Automobile |
11.4.3. Energy |
11.4.4. Food and beverages |
11.4.5. Pharmaceutical & Biotechnology |
11.4.6. Electronics |
11.4.7. Glass |
11.4.8. Metal production and Fabrication |
11.4.9. Others |
11.5. Country Analysis 2019 - 2023and Forecast 2024 -2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
11.5.1. Germany |
11.5.2. UK |
11.5.3. France |
11.5.4. Spain |
11.5.5. Italy |
11.5.6. Russia |
11.5.7. Rest of Europe |
11.6. Europe Hydrogen Electrolyzer Market - Opportunity Analysis Index, By Product Type, Capacity, Output Pressure, End User, and Country, 2024 -2030 |
11.7. Europe Hydrogen Electrolyzer Market Dynamics Trends |
12. Asia-Pacific Hydrogen Electrolyzer Market Analysis, 2019 - 2023 and Forecast, 2024 -2030(Revenue, USD Mn) |
12.1. Product Type Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.1.1. Polymer Electrolyte Membrane (PEM) Electrolyzer |
12.1.2. Alkaline Water Electrolyzer |
12.1.3. Solid Oxide Electrolyzer |
12.2. Capacity Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.2.1. High (Above 2 MW) |
12.2.2. Medium (500 kW to 2 MW |
12.2.3. Low (<500 kW) |
12.3. Output Pressure Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.3.1. High (? 40 bar) |
12.3.2. Medium (10 bar - 40 bar) |
12.3.3. Low (?10 bar) |
12.4. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.4.1. Chemicals |
12.4.2. Automobile |
12.4.3. Energy |
12.4.4. Food and beverages |
12.4.5. Pharmaceutical & Biotechnology |
12.4.6. Electronics |
12.4.7. Glass |
12.4.8. Metal production and Fabrication |
12.4.9. Others |
12.5. Country Analysis2019 - 2023and Forecast 2024 -2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
12.5.1. China |
12.5.2. India |
12.5.3. Japan |
12.5.4. ASEAN |
12.5.5. Australia & New Zealand |
12.5.6. Rest of Asia-Pacific |
12.6. Asia-Pacific Hydrogen Electrolyzer Market - Opportunity Analysis Index, By Product Type, Capacity, Output Pressure, End User, and Country,2024 -2030 |
12.7. Asia-Pacific Hydrogen Electrolyzer Market Dynamics Trends |
13. Latin America Hydrogen Electrolyzer Market Analysis,2019 - 2023 and Forecast, 2024 -2030(Revenue, USD Mn) |
13.1. Product Type Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.1.1. Polymer Electrolyte Membrane (PEM) Electrolyzer |
13.1.2. Alkaline Water Electrolyzer |
13.1.3. Solid Oxide Electrolyzer |
13.2. Capacity Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.2.1. High (Above 2 MW) |
13.2.2. Medium (500 kW to 2 MW |
13.2.3. Low (<500 kW) |
13.3. Output Pressure Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.3.1. High (? 40 bar) |
13.3.2. Medium (10 bar - 40 bar) |
13.3.3. Low (?10 bar) |
13.4. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.4.1. Chemicals |
13.4.2. Automobile |
13.4.3. Energy |
13.4.4. Food and beverages |
13.4.5. Pharmaceutical & Biotechnology |
13.4.6. Electronics |
13.4.7. Glass |
13.4.8. Metal production and Fabrication |
13.4.9. Others |
13.5. Country Analysis 2019 - 2023and Forecast 2024 -2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
13.5.1. Brazil |
13.5.2. Mexico |
13.5.3. Rest of Latin America |
13.6. Latin America Hydrogen Electrolyzer Market - Opportunity Analysis Index, By Product Type, Capacity, Output Pressure, End User, and Country, 2024 -2030 |
13.7. Latin America Hydrogen Electrolyzer Market Dynamics Trends |
14. Middle East and Africa Hydrogen Electrolyzer Market Analysis, 2019 - 2023 and Forecast, 2024 -2030(Revenue, USD Mn) |
14.1. Product Type Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.1.1. Polymer Electrolyte Membrane (PEM) Electrolyzer |
14.1.2. Alkaline Water Electrolyzer |
14.1.3. Solid Oxide Electrolyzer |
14.2. Capacity Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.2.1. High (Above 2 MW) |
14.2.2. Medium (500 kW to 2 MW |
14.2.3. Low (<500 kW) |
14.3. Output Pressure Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.3.1. High (? 40 bar) |
14.3.2. Medium (10 bar - 40 bar) |
14.3.3. Low (?10 bar) |
14.4. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.4.1. Chemicals |
14.4.2. Automobile |
14.4.3. Energy |
14.4.4. Food and beverages |
14.4.5. Pharmaceutical & Biotechnology |
14.4.6. Electronics |
14.4.7. Glass |
14.4.8. Metal production and Fabrication |
14.4.9. Others |
14.5. Country Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
14.5.1. Gulf Cooperation Council (GCC) Countries |
14.5.2. South Africa |
14.5.3. Rest of MEA |
14.6. MEA Hydrogen Electrolyzer Market - Opportunity Analysis Index, By Product Type, Capacity, Output Pressure, End User, and Country, 2024 -2030 |
14.7. MEA Hydrogen Electrolyzer Market Dynamics Trends |
15. Competition Landscape |
15.1. Strategic Dashboard of Top Market Players |
15.2. Company Profiles (Introduction, Financial Analysis, KeyOfferings, Key Developments, Strategies, and SWOT Analysis) |
15.2.1. Asahi Kasei Corp. |
15.2.2. Cockerill JingLi Hydrogen |
15.2.3. Gaztransport and Technigaz SA |
15.2.4. Kobe Steel Ltd. |
15.2.5. McPhy Energy SA |
15.2.6. Nel ASA |
15.2.7. Shandong Saikesaisi Hydrogen Energy Co., Ltd |
15.2.8. SwissHydrogen SA |
15.2.9. Teledyne Technologies Inc |
15.2.10. Versogen |
16. Research Methodology |
17. Key Assumptions and Acronyms |
Key Market Players