Global Market for Electrolyzers, 2024-2039

Table of Contents

1.0 Summary and Scope

• 1.1 Executive Summary
• 1.2 Scope of the Study
• 1.3 Acronyms

2.0 Introduction

• 2.1 Hydrogen as a Source of Energy
• 2.2 Methods of Producing Hydrogen
  • 2.2.1 Steam-Methane Reforming
  • 2.2.2 Electrolysis
• 2.3 Electrolyzer Technology
  • 2.3.1 Evaluating Electrolyzers
  • 2.3.2 Electrolyzer Components
  • 2.3.3 Electrolyzer Efficiency
• 2.4 Electrolyzer Types
  • 2.4.1 AWE Electrolyzers
  • 2.4.2 PEM Electrolyzers
  • 2.4.3 SOEC Electrolyzers
  • 2.4.4 AEM Electrolyzers
  • 2.4.5 Comparative Assessment
• 2.5 Deployment Prerequisites
  • 2.5.1 Water Availability
  • 2.5.2 Land Availability
• 2.6 Electrolysis Costs
  • 2.6.1 Cost Considerations
  • 2.6.2 Utilization Rate Impact
  • 2.6.3 Cost of Electricity

3.0 Growth Drivers & Barriers

• 3.1 Growth Drivers
  • 3.1.1 Demand for Green Hydrogen
  • 3.1.2 Climate Change
  • 3.1.3 Rising Fossil Fuel Prices
  • 3.1.4 Renewable Energy Deployments
  • 3.1.5 Shift to a Hydrogen Economy
  • 3.1.6 Automation
• 3.2 Barriers to Growth
  • 3.2.1 Cost-Related Barriers
  • 3.2.2 Mechanical Properties as Barriers
  • 3.2.3 Other Challenges
  • 3.2.4 Factors Behind Delays and Cancellations
• 3.3 Role of Raw Materials
  • 3.3.1 Platinum
  • 3.3.2 Iridium
  • 3.3.3 Titanium
  • 3.3.4 Scandium and Yttrium
  • 3.3.5 Nickel
  • 3.3.6 Cobalt
  • 3.3.7 Ruthenium
• 3.4 Raw Material Supply Constraints

4.0 AWE Electrolyzers

• 4.1 Description
• 4.2 Regular AWE vs. Pressurized AWE Electrolyzers
• 4.3 Areas of R&D
  • 4.3.1 Current Density
  • 4.3.2 Diaphragm Thickness
• 4.4 Operating Temperatures
• 4.5 AWE Electrolyzer Characteristics
• 4.6 Cost of AWE Electrolyzers
• 4.7 Raw Material Requirements
• 4.8 Pros and Cons
  • 4.8.1 Pros
  • 4.8.2 Cons
• 4.9 Key Players
• 4.10 Wrap-Up

5.0 PEM Electrolyzers

• 5.1 Description
• 5.2 Operation
• 5.3 Characteristics
• 5.4 Current Density
• 5.5 Cost of PEM Electrolyzers
• 5.6 Raw Materials
• 5.7 Pros & Cons
  • 5.7.1 Pros
  • 5.7.2 Cons
• 5.8 Key Players
• 5.9 Wrap-Up

6.0 SOEC Electrolyzers

• 6.1 Description
• 6.2 Operation
• 6.3 Characteristics
• 6.4 Current Density
• 6.5 Cost of SOEC Electrolyzers
• 6.6 Raw Materials
• 6.7 R&D
• 6.8 Pros and Cons
  • 6.8.1 Pros
  • 6.8.2 Cons
• 6.9 Key Players
• 6.10 Wrap-Up

7.0 AEM Electrolyzers

• 7.1 Description
• 7.2 Operation
• 7.3 Assessment
• 7.4 Current Density
• 7.5 Characteristics
• 7.6 Raw Materials
• 7.7 Cost of AEM Electrolyzers
• 7.8 Pros and Cons
  • 7.8.1 Pros
  • 7.8.2 Cons
• 7.9 Key Players
• 7.10 Wrap-Up

8.0 Overall Electrolyzer Analysis

• 8.1 Overview
• 8.2 Cold Start
• 8.3 Flexibility
• 8.4 Renewable Energy Fluctuations
• 8.5 Diaphragm Thickness
• 8.6 R&D
• 8.7 Cost Declines

9.0 Electrolyzer Initiatives

• 9.1 C-Cell Electrolyzers
• 9.2 2x40-GW Green Hydrogen Initiatives
• 9.3 REFHYNE Project
• 9.4 Green Octopus
• 9.5 GreenHyScale Project

10.0 Market Developments

• 10.1 Global Manufacturing Capacity
  • 10.1.1 Current Manufacturing Capacity
  • 10.1.2 Projected Manufacturing Capacity
• 10.2 Competitive Landscape
  • 10.2.1 New Market Entrants
  • 10.2.2 IPOs
  • 10.2.3 M&As

11.0 Vendor Profiles

• 11.1 Companies Marketing Multiple Electrolyzer-Types
  • 11.1.1 Air Liquide - PEM & AWE
  • 11.1.2 Asahi Kasei Corporation - AWE & AEM
  • 11.1.3 Cummins - AWE & PEM
  • 11.1.4 Horizon - AEM & PEM
  • 11.1.5 HydroStar - AEM & PEM
  • 11.1.6 John Cockerill Group (JCG) - AWE & PEM
  • 11.1.7 Nel Hydrogen - AWE & PEM
  • 11.1.8 Thyssenkrupp Nucera - AWE & SOEC
  • 11.1.9 PERIC Hydrogen Technologies Co. - AWE & PEM
  • 11.1.10 Plug Power - AWE & PEM
  • 11.1.11 Shanghai Electric - AWE & PEM
  • 11.1.12 Sunfire - AWE & SOEC
  • 11.1.13 Sungrow Power Supply Co. - AWE & PEM
  • 11.1.14 Other Vendors with Multiple Technologies
• 11.2 Companies Marketing AWE Electrolyzers
  • 11.2.1 Green Hydrogen Systems A/S - AWE
  • 11.2.2 HydrogenPro AS - AWE
  • 11.2.3 Hysata - AWE
  • 11.2.4 Larsen & Toubro - AWE
  • 11.2.5 LONGi Hydrogen - AWE
  • 11.2.6 Tianjin Mainland Hydrogen Equipment Co., Ltd. - AWE
  • 11.2.7 Other AWE Electrolyzer Vendors
• 11.3 Companies Marketing PEM Electrolyzers
  • 11.3.1 H2B2 Electrolysis Technologies - PEM
  • 11.3.2 ITM Power - PEM
  • 11.3.3 Ohmium International, Inc. - PEM
  • 11.3.4 Quest One (formerly H-TEC Systems) - PEM
  • 11.3.5 Siemens Energy - PEM
  • 11.3.6 Other PEM Electrolyzer Vendors
• 11.4 Companies Marketing SOEC Electrolyzers
  • 11.4.1 Bloom Energy - SOEC
  • 11.4.2 Ceres Power - SOEC
  • 11.4.3 FuelCell Energy - SOEC
  • 11.4.4 Genvia - SOEC
  • 11.4.5 Topsoe - SOEC
  • 11.4.6 Other SOEC Electrolyzer Vendors
• 11.5 Companies Marketing AEM Electrolyzers
  • 11.5.1 Cipher Neutron - AEM
  • 11.5.2 Enapter - AEM
  • 11.5.3 EvolOH, Inc. - AEM
  • 11.5.4 Next Hydrogen - AEM
  • 11.5.5 Other AEM Electrolyzer Vendors

12.0 Other Electrolyzer Technologies

• 12.1 Modular Bio-Electrochemical Systems
• 12.2 Microbial Fuel Cells

13.0 Regional Developments

• 13.1 Overview
• 13.2 Asia-Pacific
  • 13.2.1 Australia
  • 13.2.2 China
  • 13.2.3 India
  • 13.2.4 Japan
  • 13.2.5 Singapore
  • 13.2.6 South Korea
• 13.3 EMEA
  • 13.3.1 France
  • 13.3.2 Germany
  • 13.3.3 Spain
  • 13.3.4 U.K.
  • 13.3.5 Nordic Countries
  • 13.3.6 Other European Countries
  • 13.3.7 Middle East & Africa
• 13.4 Americas
  • 13.4.1 U.S.
  • 13.4.2 Canada
  • 13.4.3 Latin America

14.0 Market Size and Forecast

• 14.1 Global Electrolyzer Manufacturing Capacity
  • 14.1.1 Manufacturing Capacity Overview
  • 14.1.2 Electrolyzer Manufacturing Capacity Growth
  • 14.1.3 Electrolyzer Manufacturing Share by Region
  • 14.1.4 Electrolyzer Manufacturing Share by Technology
• 14.2 APAC Electrolyzer Manufacturing Capacity
  • 14.2.1 China
  • 4.2.2 RoAPAC
• 14.3 EMEA Electrolyzer Manufacturing Capacity
• 14.4 Americas Electrolyzer Manufacturing Capacity
• 14.5 Electrolyzer Manufacturing Revenue
  • 14.5.1 Factors Impacting Costs
  • 14.5.2 Electrolyzer Manufacturing Costs
• 14.6 Global Capacity and Revenue
  • 14.6.1 Global Capacity
  • 14.6.2 Global Revenue
• 14.7 Asia-Pacific Capacity & Revenue
  • 14.7.1 APAC Capacity
  • 14.7.2 APAC Revenue
• 14.8 Chinese Capacity & Revenue
  • 14.8.1 Chinese Capacity
  • 14.8.2 Chinese Revenue
• 14.9 Rest of APAC Capacity & Revenue
  • 14.9.1 RoAPAC Capacity
  • 14.9.2 RoAPAC Revenue
• 14.10 EMEA Capacity & Revenue
  • 14.10.1 EMEA Capacity
  • 14.10.2 EMEA Revenue
• 14.11 Americas Capacity & Revenue
  • 14.11.1 Americas Capacity
  • 14.11.2 Americas Revenue

15.0 Conclusion

List of Tables

• Table 1: Global Cumulative Electrolyzer Manufacturing Capacity by Region, 2024-2031
• Table 2: Global Cumulative Electrolyzer Manufacturing Capacity by Region, 2032-2039
• Table 3: Global Annual Electrolyzer Manufacturing Capacity by Region, 2024-2031
• Table 4: Global Annual Electrolyzer Manufacturing Capacity by Region, 2032-2039
• Table 5: Global Cumulative Manufacturing Capacity of Electrolyzers by Technology, 2024-2031
• Table 6: Global Cumulative Manufacturing Capacity of Electrolyzers by Technology, 2032-2039
• Table 7: Global Annual Manufacturing Capacity of Electrolyzers by Technology, 2024-2031
• Table 8: Global Annual Manufacturing Capacity of Electrolyzers by Technology, 2032-2039
• Table 9: APAC Cumulative Electrolyzer Manufacturing Capacity, 2024-2031
• Table 10: APAC Cumulative Electrolyzer Manufacturing Capacity, 2032-2039
• Table 11: APAC Annual Electrolyzer Manufacturing Capacity, 2024-2031
• Table 12: APAC Annual Electrolyzer Manufacturing Capacity, 2032-2039
• Table 13: Chinese Cumulative Electrolyzer Manufacturing Capacity, 2024-2031
• Table 14: Chinese Cumulative Electrolyzer Manufacturing Capacity, 2032-2039
• Table 15: Chinese Annual Electrolyzer Manufacturing Capacity, 2024-2031
• Table 16: Chinese Annual Electrolyzer Manufacturing Capacity, 2032-2039
• Table 17: RoAPAC Cumulative Electrolyzer Manufacturing Capacity, 2024-2031
• Table 18: RoAPAC Cumulative Electrolyzer Manufacturing Capacity, 2032-2039
• Table 19: RoAPAC Annual Electrolyzer Manufacturing Capacity, 2024-2031
• Table 20: RoAPAC Annual Electrolyzer Manufacturing Capacity, 2032-2039
• Table 21: EMEA Cumulative Electrolyzer Manufacturing Capacity by Technology, 2024-2031
• Table 22: EMEA Cumulative Electrolyzer Manufacturing Capacity by Technology, 2032-2039
• Table 23: EMEA Annual Electrolyzer Manufacturing Capacity by Technology, 2024-2031
• Table 24: EMEA Annual Electrolyzer Manufacturing Capacity by Technology, 2032-2039
• Table 25: America Cumulative Electrolyzer Manufacturing Capacity by Technology, 2024-2031
• Table 26: America Cumulative Electrolyzer Manufacturing Capacity by Technology, 2032-2039
• Table 27: America Annual Electrolyzer Manufacturing Capacity by Technology, 2024-2031
• Table 28: America Annual Electrolyzer Manufacturing Capacity by Technology, 2032-2039
• Table 29: Global Electrolyzer Manufacturing Costs Except China, 2024-2031
• Table 30: Global Electrolyzer Manufacturing Costs Except China, 2032-2039
• Table 31: Chinese Electrolyzer Manufacturing Costs, 2024-2031
• Table 32: Chinese Electrolyzer Manufacturing Costs, 2032-2039
• Table 33: Global Electrolyzer Capacity, 2024-2031
• Table 34: Global Electrolyzer Capacity, 2032-2039
• Table 35: Global Electrolyzer Manufacturing Revenue, 2024-2031
• Table 36: Global Electrolyzer Manufacturing Revenue, 2032-2039
• Table 37: Asia-Pacific Electrolyzer Manufacturing Capacity in Million kWs, 2024-2031
• Table 38: Asia-Pacific Electrolyzer Manufacturing Capacity in Million kWs, 2032-2039
• Table 39: Asia-Pacific Electrolyzer Manufacturing Revenue, 2024-2031
• Table 40: Asia-Pacific Electrolyzer Manufacturing Revenue, 2032-2039
• Table 41: Chinese Electrolyzer Capacity, 2024-2031
• Table 42: Chinese Electrolyzer Capacity, 2032-2039
• Table 43: Chinese Electrolyzer Manufacturing Revenue, 2024-2031
• Table 44: Chinese Electrolyzer Manufacturing Revenue, 2032-2039
• Table 45: RoAPAC Electrolyzer Capacity, 2024-2031
• Table 46: RoAPAC Electrolyzer Capacity, 2032-2039
• Table 47: RoAPAC Electrolyzer Manufacturing Revenue, 2024-2031
• Table 48: RoAPAC Electrolyzer Manufacturing Revenue, 2032-2039
• Table 49: EMEA Electrolyzer Capacity in Million kWs, 2024-2031
• Table 50: Americas Electrolyzer Manufacturing Capacity in Million kWs, 2032-2039
• Table 51: Americas Electrolyzer Manufacturing Revenue, 2024-2031
• Table 52: Americas Electrolyzer Manufacturing Revenue, 2032-2039

List of Figures

• Figure 1: Global Cumulative & Annual Electrolyzer Manufacturing Capacity (in GW), 2024-2039
• Figure 2: Global Share of Cumulative Electrolyzer Manufacturing Capacity by Region, 2024
• Figure 3: Global Share of Cumulative Electrolyzer Manufacturing Capacity by Region, 2039
• Figure 4: Global Share of Cumulative Electrolyzer Manufacturing Capacity by Technology, 2024
• Figure 5: Global Share of Cumulative Electrolyzer Manufacturing Capacity by Technology, 2039
• Figure 6: APAC Cumulative Electrolyzer Manufacturing Capacity, 2024-2039
• Figure 7: EMEA Cumulative Electrolyzer Manufacturing Capacity (in GW), 2024-2039
• Figure 8: America Cumulative Electrolyzer Manufacturing Capacity, 2024-2039
• Figure 9: Electrolyzer Manufacturing Revenue Share by Technology - 2024-2039