Comparing 12 vendors in Electrolyzers across 0 criteria.
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The Electrolyzer Manufacturers Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Electrolyzer. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 40 companies of which the Top 12 Electrolyzer Manufacturers were categorized and recognized as the quadrant leaders.
An electrolyzer system utilizes electricity to break water molecules into hydrogen and oxygen. Through this process, the electrolyzer system produces hydrogen, and the leftover oxygen is released into the atmosphere or can be captured or stored to supply other industrial processes or even medical gases in some cases. There are four main ways that electrolyzers can be commercialized: power to mobility, power to fuel, power to industry, and power to gas. Electrolyzers are available in small and large sizes. Small capacity electrolyzers are used for small-scale distributed hydrogen production. In the case of large capacity electrolyzers, hydrogen production facilities can be tied directly to renewable or other non-greenhouse-gas-emitting forms of electricity production.
The 360 Quadrant maps the electrolyzer manufacturers based on criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the Electrolyzers’ quadrant. While the top criteria for product footprint evaluation included Technologies (Alkaline Electrolysis, Proton Exchange Membrane Electrolysis, Solid Oxide Electrolysis, Anion Exchange Membrane), Application (Energy, Mobility, Industrial, Grid Injection), Power Rating (<500 kW, 500 - 2,000 kW, >2,000 kW), R&D Expenditure, New Product Launch, and Patents.
Key trends highlighted in 360 Quadrant’s study include:
- As of 2023, the global electrolyzers market is valued at USD 1234.9 million, and projections indicate a staggering growth trajectory, reaching USD 23555.9 million by 2028. This exceptional growth, marked by an 80.3% CAGR during the forecast period, is fueled by substantial investments in green hydrogen production. Electrolyzer-based green ammonia production for fertilizers further amplifies this growth, positioning electrolyzer manufacturers as key contributors to the evolving landscape.
- The electrolyzers market is experiencing significant growth and is poised for a promising future. Electrolyzer manufacturers, the key players in this dynamic landscape, are pivotal in driving advancements in this sector. The rising demand for clean and sustainable energy solutions, coupled with the increasing adoption of hydrogen as an alternative fuel, is driving the expansion of the electrolyzers market and thereby creating multiple opportunities for the electrolyzer manufacturers.
- Investments in green hydrogen projects are fueling the electrolyzers market growth. The versatile use of hydrogen, from power generation to manufacturing and transportation, is driving interest of electrolyzer manufacturers. Companies are integrating green hydrogen into their operations, creating opportunities for electrolyzer utilization. This trend attracts new players, especially in Asia, Europe, and Australia, leading the charge in green hydrogen technology. Additionally, with the growing scale of projects, there is a parallel increase in the investment required for their implementation.
- Geographically, Europe emerges as the dominant market for electrolyzers from 2023 to 2028, attributed to the region's increasing demand for green hydrogen and initiatives to achieve carbon neutrality. North America follows closely as the second-largest region for the electrolyzers market, showcasing the global influence of electrolyzer manufacturers.
- Within the technology spectrum, the alkaline electrolyzer technology segment takes center stage, holding a significant market share. Its maturity and cost-effectiveness make it a preferred choice, contributing to the dominance of electrolyzer manufacturers in this arena.
- A select group of leading players, equipped with extensive portfolios, global distribution networks, and local manufacturing facilities, dominates the electrolyzers market. These electrolyzer manufacturers are actively engaged in developing advanced electrolyzer systems and technologies, emphasizing enhanced properties to meet the evolving market demands.
- In pursuit of growth, electrolyzer manufacturers leverage strategic initiatives such as partnerships, acquisitions, collaborations, and contracts. A noteworthy example is Nel Hydrogen US, a subsidiary of Nel ASA, which, in November 2022, entered into a joint development agreement with General Motors to accelerate the industrialization of Nel’s proton exchange membrane (PEM) electrolyzer platform.
- The relentless commitment of electrolyzer manufacturers to technological advancements is evident in their pivotal role in transitioning towards a hydrogen-based economy. Their innovations and collaborations, such as Siemens Energy's selection by HIF Global in March 2023 to supply electrolyzers for a new eFuel facility in Texas, underscore their instrumental contributions to clean and sustainable hydrogen production. As the electrolyzers market continues to evolve, electrolyzer manufacturers stand poised at the forefront, shaping the future of energy solutions.
The Full List
|Company||Headquarters||Year Founded||Holding Type|
|Asahi Kasei||Tokyo, Japan||1931||Public|
|Bloom Energy||San Jose, USA||2001||Public|
|ITM Power||Sheffield, UK||2000||Public|
|John Cockerill||Seraing, Belgium||1817||Private|
|Plug Power||Latham, USA||1997||Public|
|Siemens Energy||Munich, Germany||2020||Public|
|thyssenkrupp nucera||Dortmund, Germany||2015||Private|