Hydrogen Electrolyzer Market Size, Share & Industry Analysis, By Type (Polymer Electrolyte Membrane (PEM) Electrolyzers, Alkaline Electrolyzers, Solid Oxide Electrolyzers), By End-user (Metal Fabrication, Energy, Electronics, Automobile, Food & Beverage, Pharmaceuticals, Others (Glass)) and Regional Forecast 2020-2027

Hydrogen electrolyzer is utilized in disintegrating water into oxygen and hydrogen gases through electric current. It consists of electrolytic cells and central system units. By combining these electrolytic cells, hydrogen production can be tailored to end-user needs. Hydrogen production through electrolysis provide opportunities for synergy with changeable power generation phenomenon. Hydrogen electrolyzers are available for small to large scale production having diverse operational efficiency.

The emergence of hydrogen electrolyzer is attributed to its utilization in developing clean energy systems for non-hazardous environmental conditions. Additionally, hydrogen electroyzer with renewable resources such as, wind to generate electricity is certainly shaping green economy projects across countries including, Japan, China, Australia, U.S. and others. For instance, wind-based electricity production is growing speedily across the globe, especially in the U.S.

The adoption of hydrogen electrolyzers is increasing in recent years. It is owing to, its distinctive features and capabilities including, virtual zero greenhouse gas emissions in various end-use industries including fabrication, energy etc. Additionally, key manufacturers are focused on strategic mergers and acquisitions with regional and local players to build strong position in the market, that is ultimately boosting the growth of global hydrogen electrolyzer market. For instance, in March 2020, NEL ASA collaborated with Kvaerner for specific green hydrogen projects and to provide equivalent solutions for extensive hydrogen production plants. Considering all these factors, the global Hydrogen Electrolyzer market is expected to observe booming growth in the forecast period.

Key Market Driver -

• Technological development in hydrogen electrolyzers • Growing investment in generating renewable electricity

Key Market Restraint -

• High processing cost for hydrogen production through electrolysis

However, COVID-19 pandemic has moderately impacted the Hydrogen Electrolyzer market globally. The manufacturing and re-manufacturing units have stopped production as, lockdown has broken the transportation processes. The industries including construction, mining, automotive are experiencing delays in the project works and investments in the year 2020, owing to the sudden COVID-19 outbreaks. Considering all these factors, the Hydrogen Electrolyzer market is expected to witness moderate downfall in the year 2020. On a long-term basis, the outlook seems dynamic for the aforesaid market with attractive expansion opportunities for on-site hydrogen generation in industries including, metal production, electronics and other small scale industries.

Key Players Covered:

Key players operating in the global Hydrogen Electrolyzer market are McPhy Energy S.A., Siemens, Nel ASA, Hydrogenics, AREVA H₂ Gen, Green Hydrogen, Next Hydrogen, ITM Power, TianJin Mainland Hydrogen Equipment Co., Ltd., Giner Inc. and others.

Regional Analysis

Asia Pacific is in the best position to witness highest compounded annual growth rate in the forecast period. It is owing to, the rapid utilization of hydrogen across end-use industries including fabrication, electronics, etc. Additionally, the governmental bodies across countries including, India, China, Japan, Australia and others are heavily investing to fast-track the economical hydrogen electrolysis. For instance, in 2019, the government of Australia launched ‘National Hydrogen Strategy’ dedicated to achieve goal of “H2 under AU$2” i.e. to produce hydrogen through electrolysis for nearly AU$2/kg.

North America is expected to witness substantial growth, owing to the constant product development by the key manufacturers operating in this region. Moreover, the presence of several manufacturers including, Next Hydrogen, Hydrogenics and others is fuelling the market growth. Furthermore, electric mobility is rapidly gaining traction in the U.S., is also boosting the market growth.

Europe is anticipated to witness substantial growth, owing to the rising demand from end-use industries such as, fabrication, energy and others. Moreover, the production of green hydrogen i.e. production of non-toxic colourless gas through the utilization of clean energy from renewable sources is also gaining importance across European countries including Germany, Italy, etc. For instance, in June 2020, the government of Germany has adopted ‘National Hydrogen Strategy’ to utilize green hydrogen and expand its presence in associated hydrogen technologies.

Middle East and Africa and Latin America are expected to witness steady growth with effect of increased investment in infrastructural developments across Brazil, South Africa, Saudi Arabia, United Arab Emirates and other countries. Moreover, a substantial cost reduction in electricity generation via renewable sources is facilitating the set up of hydrogen electrolysis plants across Latin America.

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Segmentation

Key Industry Developments

• April 2019: Next Hydrogen received order for electrolyzer, ‘Model NH-300’ from Canadian Tire Corporation. The aforesaid electrolyzer produces pure hydrogen from water that supports Canadian Tire’s continuing implementation of hydrogen energy in its material handling operations
• October 2018: Hydrogenics provided large-scale PEM electrolyzer to generate hydrogen at a fuelling station in Germany. The aforesaid electrolyzer has capacity to produce approximately 400 kilograms of hydrogen/day.