Comparing 12 vendors in Electrolyzers across 0 criteria.

Market Presence
Contenders Contenders
Market Leaders Market Leaders
Emerging Companies Emerging Companies
Innovators Innovators
Cummins
Asahi Kasei
Bloom Energy
ITM Power
Siemens Energy
Nel
Enapter
Topsoe
Plug Power
thyssenkrupp nucera
John Cockerill
Sunfire
Product Footprint
copyright

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POWERED BY MARKETSANDMARKETS
Sep 21, 2023

360 Quadrants releases a list of "Top 12 Electrolyzer Manufacturers, Worldwide 2023" in partnership with MarketsandMarkets. The report recognizes standouts in the Electrolyzer market, ranging from mid-sized enterprises to Fortune 500 companies. The vendor evaluation was conducted on over two hundred companies of which the top 12 were categorized and recognized as the new economic quadrant leaders.

Key trends highlighted in 360 Quadrants:

  • The electrolyzers market is experiencing significant growth and is poised for a promising future. Electrolyzers are devices that use electricity to split water into hydrogen and oxygen through the process of electrolysis. 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.
  • The global electrolyzers market is estimated to be worth USD 1234.9 million in 2023 and is projected to reach USD 23555.9 million by 2028, growing at a CAGR of 80.3% during the forecast period. This is mainly driven by the increasing investments in green hydrogen production and the surge in demand for electrolyzer-based green ammonia for fertilizers production are some of the key factors accelerating the growth of the electrolyzer market.
  • By region, the market has been segmented into North America, Europe, Asia Pacific, and the rest of the world. Europe is estimated to be the largest market for electrolyzers from 2023 to 2028. This market growth is mainly attributed to the rising demand of green hydrogen for various applications and rising initiatives to reduce the carbon footprint and exploring renewable energy sources to become a carbon-neutral region. North America is expected to be the second-largest region for the electrolyzers market.
  • In terms of technology, the alkaline electrolyzer technology segment held the larger share of the electrolyzer market. This can be attributed to its relatively mature nature and cost-effective technology.
  • The electrolyzers market is dominated by a few leading players with vast portfolios, global distribution & sales networks, and a large number of local manufacturing facilities. Major players are focusing on the development of electrolyzer systems and technology with enhanced properties.
  • Partnerships, acquisitions, collaborations, and contracts are a few of the growth strategies adopted by the market players. For instance, in November 2022, Nel Hydrogen US, a subsidiary of Nel ASA entered into a joint development agreement with General Motors to help accelerate the industrialization of Nel’s proton exchange membrane (PEM) electrolyzer platform.
  • The companies are actively contributing to the advancement of electrolyzer technologies, expanding their market presence, and driving the transition to a hydrogen-based economy. Their innovations and collaborations are instrumental in unlocking the full potential of electrolyzers for clean and sustainable hydrogen production. For instance, in March 2023, Siemens Energy, a prominent player in the industry was selected by a Houston-based electrofuel (eFuel) company HIF Global to supply electrolyzers to a new eFuel facility in Matagorda County, Texas.

The Full List

The Full List

Company Headquarters Year Founded Holding Type
Asahi Kasei Tokyo, Japan 1931 Public
Bloom Energy San Jose, USA 2001 Public
Cummins Columbus, USA 1919 Public
Enapter Pisa, Italy 2017 Public
ITM Power Sheffield, UK 2000 Public
John Cockerill Seraing, Belgium 1817 Private
Nel Oslo, Norway 1927 Public
Plug Power Latham, USA 1997 Public
Siemens Energy Munich, Germany 2020 Public
Sunfire Dresden, Germany 2010 Private
Topsoe Lyngby, Denmark 1940 Public
thyssenkrupp nucera Dortmund, Germany 2015 Private
 
Frequently Asked Questions (FAQs)
An electrolyzer consists of two electrodes submerged in water, typically with an electrolyte solution added. When an electric current is passed through the electrodes, water molecules are split into hydrogen ions (H+) and hydroxide ions (OH-). The hydrogen ions migrate towards the negative electrode (cathode), where they gain electrons and form hydrogen gas (H2). The hydroxide ions migrate towards the positive electrode (anode), where they lose electrons and form oxygen gas (O2).
Electrolyzers have several applications, including hydrogen production for fuel cells, energy storage, industrial processes, and as a means of storing excess renewable energy. They can also be used for water treatment and to produce high-purity gases.
There are mainly three types of electrolyzers: alkaline electrolyzers, proton exchange membrane (PEM) electrolyzers, and solid oxide electrolyzers. Alkaline electrolyzers use an alkaline electrolyte solution, PEM electrolyzers use a solid polymer membrane, and solid oxide electrolyzers use a solid ceramic electrolyte.
The efficiency of an electrolyzer is typically measured by its electrical efficiency and its overall energy efficiency. Electrical efficiency refers to the ratio of electrical energy used to produce hydrogen to the total electrical energy input. Overall energy efficiency takes into account the energy required to produce and deliver the electricity to the electrolyzer. Electrolyzers can have efficiencies ranging from 50% to over 80%.
Electrolyzers offer a sustainable and environmentally friendly method of hydrogen production since they only require water and electricity. They can be powered by renewable energy sources, making them an important component of the transition to a clean energy economy. Electrolyzers also provide a means of energy storage, allowing excess electricity generated from renewable sources to be converted into hydrogen for later use.
One of the main challenges is improving the efficiency of electrolyzers to reduce energy consumption and costs. Additionally, the cost of materials used in electrolyzers, such as catalysts and membranes, needs to be reduced. Scaling up electrolyzer production and developing efficient hydrogen storage and distribution infrastructure are also important challenges to address.
Yes, electrolyzers can be used for water treatment. The process of electrolysis can help remove contaminants from water by generating reactive species such as hydroxyl radicals, which can oxidize and break down pollutants. Electrolyzers can be used for wastewater treatment, desalination, and disinfection of water.
Safety considerations for electrolyzers include managing the risks associated with hydrogen gas, which is highly flammable and can form explosive mixtures in the presence of air. Proper ventilation, gas detection systems, and appropriate handling procedures are necessary to ensure safe operation.
The hydrogen produced by electrolyzers can be used as a clean fuel for various applications. It can be used in fuel cells to generate electricity and power vehicles, used as a feedstock for chemical processes, or injected into natural gas pipelines to decarbonize the gas grid. Hydrogen can also be used in industries such as metallurgy, glass manufacturing, and electronics.
Electrolyzers typically employ various materials for their components to facilitate efficient electrolysis. Here are the primary materials used in electrolyzers: Electrodes: The electrodes are typically made of materials with good electrical conductivity and chemical stability. Common choices include metals such as platinum (Pt), titanium (Ti), or nickel (Ni), or metal oxides like iridium oxide (IrO2) and ruthenium oxide (RuO2). These materials can withstand the harsh conditions during electrolysis. Electrolyte: The electrolyte solution allows the flow of ions between the electrodes. Different electrolyzers use different electrolytes. For water electrolysis, an acidic electrolyte like sulfuric acid (H2SO4) or a basic electrolyte like potassium hydroxide (KOH) is commonly employed. Membrane: Some electrolyzers employ a membrane to separate the anode and cathode compartments while allowing the passage of specific ions. Proton Exchange Membrane (PEM) electrolyzers use a solid polymer electrolyte membrane made of materials like Nafion or other perfluorosulfonic acid membranes. Bipolar Plates: Bipolar plates serve as current collectors and distributors, enabling the passage of electricity through the electrodes. They are typically made of conductive materials like graphite, coated metals, or carbon composites. Enclosure and Connectors: The outer enclosure of an electrolyzer can be made of various materials, such as stainless steel or plastic, to provide structural support and protection. Connectors and seals are used to ensure electrical connections and prevent leaks. The specific materials used can vary depending on the electrolyzer type, desired efficiency, cost considerations, and the electrolysis process employed. Advances in materials science continue to explore alternatives that offer improved performance and reduced costs for electrolyzers.
 
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360 Quadrants

360 Quadrants is a New Economy Quadrant focused on celebrating companies shaping the future

360 Quadrants

360 Quadrants is a New Economy Quadrant focused on celebrating companies shaping the future

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