Hydrogen Electrolyzers Market by Electrolyzer Type and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR45472
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The hydrogen electrolyzers market has the potential to grow by USD 87.36 million during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 6.40%.

This hydrogen electrolyzers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by electrolyzer type (alkaline and PEM) and geography (North America, Europe, APAC, MEA, and South America). The hydrogen electrolyzers market report also offers information on several market vendors, including 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, and Teledyne Technologies Inc. among others.

What will the Hydrogen Electrolyzers Market Size be in 2021?

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Hydrogen Electrolyzers Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The integration of renewables with hydrogen electrolyzers is notably driving the hydrogen electrolyzers market growth, although factors such as competition from alternate technologies of hydrogen production may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hydrogen electrolyzers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The integration of renewables with hydrogen electrolyzers is one of the key factors driving the hydrogen electrolyzers market share growth. 
  • The hydrogen generation process having zero emissions while being used for various applications across different sectors has several organizations opting to replace fossil fuels with renewables.
  • The growing shift toward integrating hydrogen electrolyzers with renewables has created a rising demand for clean hydrogen.
  • The growing adoption of fuel cell-powered vehicles is another key factor supporting the hydrogen electrolyzers market growth.
  • Environmentally sustainable technologies such as fuel cells are emerging as a promising fuel solution for the transport sector due to their efficient power generation capacity.
  • Fuel cells offer rapid refueling over conventional batteries, such as lead-acid batteries which take a long time to recharge and hold less energy with each charge.

This hydrogen electrolyzers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Hydrogen Electrolyzers Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 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.

 

This statistical study of the hydrogen electrolyzers market encompasses successful business strategies deployed by the key vendors. The hydrogen electrolyzers market is fragmented and the vendors are deploying growth strategies such as the adoption of fuel cell-powered vehicles by large retail warehouses to increase the demand for on-site hydrogen generation to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The hydrogen electrolyzers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Hydrogen Electrolyzers Market?

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37% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the hydrogen electrolyzers market in North America. Market growth in this region will be slower than the growth of the market in other regions.

The adoption of hydrogen electrolyzers across a wide variety of industries, including the power, transport, and industrial sectors, will facilitate the hydrogen electrolyzers market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Electrolyzer Type Segments in the Hydrogen Electrolyzers Market?

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The hydrogen electrolyzers market share growth by the PEM  segment will be significant during the forecast period. Similar to alkaline hydrogen electrolyzers, PEM hydrogen electrolyzers generate hydrogen by low-temperature electrolysis having a bipolar design. The hydrogen is able to support operations at high differential pressures across the membrane and is particularly well-suited for large-scale applications in the energy and industrial sectors. PEM hydrogen electrolyzers also offer high gas purity, which is a major driving factor for the growth of the segment. These benefits have the demand for PEM hydrogen electrolyzers rising at a rapid pace across several industries globally.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast-tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the hydrogen electrolyzers market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Hydrogen Electrolyzers Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive hydrogen electrolyzers market growth during the next five years
  • Precise estimation of the hydrogen electrolyzers market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hydrogen electrolyzers industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hydrogen electrolyzers market vendors

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Hydrogen Electrolyzers Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 6.40%

Market growth 2021-2025

$ 87.36 million

Market structure

Fragmented

YoY growth (%)

8.97

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 37%

Key consumer countries

US, Germany, Sweden, Canada, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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, and Teledyne Technologies Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The hydrogen electrolyzers market growth will increase by $79.90 million during 2019-2024.
The hydrogen electrolyzers market is expected to grow at a CAGR of 6.18% during 2019-2024.
Technavio has segmented the hydrogen electrolyzers market by other1 (Alkaline and PEM) and geographic (North America, Europe, APAC, MEA, and South America).
AREVA H2Gen, Asahi Kasei Corp., Enapter Srl, Giner Inc., Hitachi Zosen Corp., Hydrogenics Corp., ITM Power Plc, McPhy Energy SA, Nel ASA, Siemens AG are a few of the key vendors in the hydrogen electrolyzers market.
North America will register the highest growth rate of 40.40% among the other regions. Therefore, the hydrogen electrolyzers market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the hydrogen electrolyzers market growth are:
  • Integration of renewables with hydrogen electrolyzers
The hydrogen electrolyzers market vendors should focus on grabbing business opportunities from the alkaline segment as it accounted for the largest market share in the base year.
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