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Water Electrolyzer Market
| Status : Published | Published On : Dec, 2023 | Report Code : VREP3034 | Industry : Energy & Power | Available Format :
|
Page : 200 |
Global Water Electrolyzer Market – Analysis and Forecast (2025-2030)
Industry Insight by Electrolyzer Type (alkaline electrolysis, proton exchange membrane (PEM) electrolysis, solid oxide electrolysis, and anion exchange membrane electrolysis), By End-use Application (transportation/mobility industry, refining industry, power and energy storage, ammonia production, methanol production, and other end-use industry) and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
The Global Water Electrolyzer Market was worth USD 0.62 billion in 2023 and is expected to reach USD 58.5 billion by 2030 with a CAGR of 88.4% during the forecast period.
A water electrolyzer splits H2O into H2 and O2 using electricity. It has two electrodes in water, where an electric current triggers a reaction. At the cathode, H2 ions form, while at the anode, O2 is generated. This process, electrolysis, produces hydrogen and oxygen gases for clean energy.
The market is divided by its type into alkaline, PEM, solid oxide, and anion exchange membrane electrolysis where alkaline electrolyzers dominate. It is also divided into transportation, refining, power storage, ammonia and methanol production, and other sectors by its application, where ammonia production leads the market.
Insight by Electrolyzer Type
The global water electrolyzer market is divided into alkaline electrolysis, proton exchange membrane (PEM) electrolysis, solid oxide electrolysis, and anion exchange membrane electrolysis. Out of these segments, the alkaline electrolyzers dominates the market due to their established technology, affordability, and efficient hydrogen production. They use potassium hydroxide as an electrolyte solution, making them popular for large-scale production.
Insight by End-use Application
The global water electrolyzer market is divided into transportation/mobility, refining, power and energy storage, ammonia production, methanol production, and other industries. Among these segments, ammonia production leads the market due to its role in green energy and fertilizer industries. Electrolysis of hydrogen is integral to green ammonia production which uses renewable-driven electrolyzers to lower emissions.
Global Water Electrolyzer Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025 - 2030 |
|
Market Size in 2023 |
U.S.D. 0.62 Billion |
|
Revenue Forecast in 2030 |
U.S.D. 58.5 Billion |
|
Growth Rate |
88.4%% |
|
Segments Covered in the Report |
By Electrolyzer, and By End-use Application |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
Growing awareness of climate change and the necessity for sustainable energy sources is driving the demand for green hydrogen.
Continuous research and development efforts are leading to technological advancements in water electrolyzers, ensuing better efficiency, reliability, and cost-effectiveness.
With the worldwide push towards renewable energy sources, water electrolyzers are being integrated more and more into renewable energy systems to produce hydrogen, supporting grid stability and energy storage.
The rising demand for water electrolyzers is leading to the establishment of new manufacturing facilities across regions, catering to the increasing market demands and improving production capacities.
Governments worldwide are employing supportive policies, incentives, and funding programs to promote the adoption of water electrolyzers and expedite the transition towards a hydrogen economy.
Water electrolyzers are finding applications across various industries beyond energy, including transportation, refining, chemicals, and manufacturing.
Market players are concentrating on developing scalable and commercially workable electrolyzer solutions to meet the increasing demand for large-scale hydrogen manufacture in industrial applications.
Green ammonia production, facilitated by water electrolyzers, is gaining attention as a capable solution for decarbonizing the fertilizer industry and empowering sustainable energy storage and transportation.
Collaboration between industry players, research institutions, and governments is becoming progressively prevalent to drive revolution and address technological encounters.
Environmental concerns are motivating market players to prioritize sustainability in electrolyzer manufacturing procedures, materials obtaining, and end-of-life supervision, aligning with worldwide efforts towards a circular economy and lower carbon emissions.
Growth Drivers
One of the most significant growth drivers of the global water electrolyzer market is the rising demand from the refining industry.
The rise in demand for green fertilizers is also propelling the growth of the market due to lower greenhouse gas emissions.
Rapid adoption in energy storage sector is also facilitating the growth of the market due to higher efficiency in balancing irregular renewable energy sources.
Expansion in industrial applications beyond traditional sectors like refining and fertilizer production such as metallurgy, electronics, and food processing are also driving its growth.
Favorable government policies and incentives, and funding programs are promoting the adoption of water electrolyzers to transition towards a hydrogen economy.
Higher investment in research and development activities by key market players and government institutions is driving innovation in electrolyzer technology to improve efficiency, reduce costs, and enhance scalability is also fueling market growth.
Challenges
High energy loss, limited scalability, and dependence on intermittent renewable energy pose challenges to water electrolyzer market growth. Additionally, cost barriers, infrastructure constraints, and technological complexity hinder widespread adoption.
Opportunities
Renewable energy integration and growing demand for green hydrogen offer opportunities for water electrolyzer market expansion. Technological innovation, government support, and industrial diversification further propel growth opportunities worldwide.
Geographic Overview
The global water electrolyzer market spans North America, Europe, Asia-Pacific, Latin America, and the Middle East/Africa. Europe leads the market due to progressive laws and investments, highlighted by initiatives like the EU's Green Deal and national hydrogen strategies in Germany and France.
North America is also expected to witness a significant growth in the projected period due to increasing investments in renewable energy and government initiatives to promote clean energy solutions.
The Asia-Pacific region, on the other hand, is undergoing rapid industrialization and urbanization, resulting in a surge in demand for hydrogen in several sectors like transportation, manufacturing, and energy production. Moreover, helpful government policies and rising awareness of environmental sustainability are further driving market expansion in this region.
Competitive Insight
NEL ASA is a market leader for water electrolyzers worldwide and being a top player in the market, they have built a strong reputation for providing electrolysis systems of the highest caliber. Because of their efficiency and versatility, their Proton Exchange Membrane (PEM) electrolyzers are well-suited for a wide range of applications, including as industrial operations and the storage of renewable energy. Projects like the "Green Hydrogen for Scotland" initiative, which aims to use NEL ASA's electrolyzer technology for large-scale hydrogen production, are prime examples of the company's crucial role in expanding the green hydrogen sector. Furthermore, partnerships with significant industry participants highlight NEL ASA's impact on the global landscape of sustainable hydrogen production going forward.
Thyssenkrupp has made a significant impact on the global water electrolyzers market with their manufacturing and technical expertise including electrolysis equipment, which allows them to provide state-of-the-art green hydrogen production solutions. Their cutting-edge alkaline electrolyzers stand out in particular for their effectiveness and robustness. Thyssenkrupp's critical role is demonstrated by their participation in the "Haru Oni" project in Chile, which attempts to use renewable energy sources to produce green hydrogen. Furthermore, collaborations with companies such as Ørsted in Denmark and E.ON in Germany highlight Thyssenkrupp's significant contribution to advancing the global uptake of sustainable hydrogen technologies.
Recent Development by Key Players
ThyssenKrupp Nuclear and Neste signed an agreement to reserve production capacities for a 120 MW water electrolyzer at Neste’s refinery in Finland. The new electrolyzers will allow Neste to start producing green hydrogen at its refinery in Porvoo, Finland. There is a growing demand for thyssenkrupp Nucera’s water electrolysis technology with their third reservation agreement for production capacities within the last few months.
Veradagy, an industry pioneer specializing in advanced water electrolysis electrolyzer technologies for large-scale industrial applications, opened a new cutting-edge manufacturing facility in Newark, California, marking a significant milestone in the United States’ green hydrogen industry. Operations in the new facility are expected to start in Q1 2024 with the company aiming to double its employee count by next summer to accommodate the facility’s operation and expansion.
Key Players Covered in the Report
Asahi Kasei Corporation, Nel ASA, thyssenkrupp AG, Cummins Inc., Toshiba Energy Systems & Solutions Corporation, Teledyne Energy Systems Inc., Suzhou Green Hydrogen Energy Co., Ltd., Suzhou Jingli Hydrogen Production Equipment Co., Ltd., ITM Power PLC, Clean Power Hydrogen Group Limited, Plug Power Inc., Hitachi Zosen Corporation, John Cockerill, Siemens Energy AG, McPhy Energy S.A., Enapter AG, Elogen, h2e Power Systems Pvt. Ltd., Ohmium, and Hystar.
The Water Electrolyzer Market Report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
By Electrolyzer Type
- Alkaline Electrolyzer
- Proton Exchange Membrane (PEM) Electrolyzer
- Solid Oxide Electrolyzer Cell (SOEC)
- Anion Exchange Membrane (AEM) Electrolyzers
End-Use Application
- Transportation/Mobility Industry
- Refining Industry
- Power and Energy Storage
- Ammonia Production
- Methanol Production
- Other End-Use Applications
Region Covered in the Report
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
Middle East and Africa (MEA)
- Saudi Arabia
- U.A.E
- South Africa
- Rest of MEA
Latin America
- Argentina
- Brazil
- Chile
- Rest of Latin America
Primary Research Interviews Breakdown
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1. Research Overview
1.1. The Report Offers
1.2. Market Coverage
1.2.1. By Electrolyzer Type
1.2.2. By End-use Application
1.2.3. By Region
1.3. Research Phases
1.4. Limitations
1.5. Market Methodology
1.5.1. Data Sources
1.5.1.1. Primary Research
1.5.1.2. Secondary Research
1.5.2. Methodology
1.5.2.1. Data Exploration
1.5.2.2. Forecast Parameters
1.5.2.3. Data Validation
1.5.2.4. Assumptions
1.5.3. Study Period & Data Reporting Unit
2. Executive Summary
3. Industry Overview
3.1. Industry Dynamics
3.1.1. Market Growth Drivers
3.1.2. Market Restraints
31.3. Key Market Trends
3.1.4. Major Opportunities
3.2. Industry Ecosystem
3.2.1. Porter’s Five Forces Analysis
3.2.2. Recent Development Analysis
3.2.3. Value Chain Analysis
3.3. Competitive Insight
3.3.1. Competitive Position of Industry Players
3.3.2. Market Attractive Analysis
3.3.3. Market Share Analysis
4. Global Market Estimate and Forecast
4.1. Global Market Overview
4.2. Global Market Estimate and Forecast to 2030
5. Market Segmentation Estimate and Forecast
5.1. By Electrolyzer Type
5.1.1. Alkaline Electrolysis
5.1.1.1. Market Definition
5.1.1.2. Market Estimation and Forecast to 2030
5.1.2. Proton Exchange Membrane (PEM) Electrolysis
5.1.2.1. Market Definition
5.1.2.2. Market Estimation and Forecast to 2030
5.1.3. Solid Oxide Electrolysis
5.1.3.1. Market Definition
5.1.3.2. Market Estimation and Forecast to 2030
5.1.4. Anion Exchange Membrane Electrolysis
5.1.4.1. Market Definition
5.1.4.2. Market Estimation and Forecast to 2030
5.2. By End-use Application
5.2.1. Transportation/Mobility Industry
5.2.1.1. Market Definition
5.2.1.2. Market Estimation and Forecast to 2030
5.2.2. Refining Industry
5.2.2.1. Market Definition
5.2.2.2. Market Estimation and Forecast to 2030
5.2.3. Power and Energy Storage
5.2.3.1. Market Definition
5.2.3.2. Market Estimation and Forecast to 2030
5.2.4. Ammonia Production
5.2.4.1. Market Definition
5.2.4.2. Market Estimation and Forecast to 2030
5.2.5. Methanol Production
5.2.5.1. Market Definition
5.2.5.2. Market Estimation and Forecast to 2030
6. North America Market Estimate and Forecast
6.1. By Electrolyzer Type
6.2. By End-use Application
6.3. By Country
6.3.1. U.S. Market Estimate and Forecast
6.3.2. Canada Market Estimate and Forecast
6.3.3. Mexico Market Estimate and Forecast
7. Europe Market Estimate and Forecast
7.1. By Electrolyzer Type
7.2. By End-use Application
7.3. By Country
7.3.1. Germany Market Estimate and Forecast
7.3.2. France Market Estimate and Forecast
7.3.3. U.K. Market Estimate and Forecast
7.3.4. Italy Market Estimate and Forecast
7.3.5. Spain Market Estimate and Forecast
7.3.6. Rest of Europe Market Estimate and Forecast
8. Asia-Pacific Market Estimate and Forecast
8.1. By Electrolyzer Type
8.2. By End-use Application
8.3. By Country
8.3.1. China Market Estimate and Forecast
8.3.2. Japan Market Estimate and Forecast
8.3.3. India Market Estimate and Forecast
8.3.4. South Korea Market Estimate and Forecast
8.3.5. Singapore Market Estimate and Forecast
8.3.6. Rest of Asia-Pacific Market Estimate and Forecast
9. Rest of the World (RoW) Market Estimate and Forecast
9.1. By Electrolyzer Type
9.2. By End-use Application
9.3. By Country
9.3.1. Brazil Market Estimate and Forecast
9.3.2. Saudi Arabia Market Estimate and Forecast
9.3.3. South Africa Market Estimate and Forecast
9.3.4. Other Countries Market Estimate and Forecast
10. Company Profiles
10.1. Asahi Kasei Corporation
10.1.1. Snapshot
10.1.2. Overview
10.1.3. Offerings
10.1.4. Financial Insight
10.1.5. Recent Developments
10.2. Nel ASA
10.2.1. Snapshot
10.2.2. Overview
10.2.3. Offerings
10.2.4. Financial Insight
10.2.5. Recent Developments
10.3. Thyssenkrupp AG
10.3.1. Snapshot
10.3.2. Overview
10.3.3. Offerings
10.3.4. Financial Insight
10.3.5. Recent Developments
10.4. Cummins Inc.
10.4.1. Snapshot
10.4.2. Overview
10.4.3. Offerings
10.4.4. Financial Insight
10.4.5. Recent Developments
10.5. Toshiba Energy Systems & Solutions Corporation
10.5.1. Snapshot
10.5.2. Overview
10.5.3. Offerings
10.5.4. Financial Insight
10.5.5. Recent Developments
10.6. Teledyne Energy Systems Inc.
10.6.1. Snapshot
10.6.2. Overview
10.6.3. Offerings
10.6.4. Financial Insight
10.6.5. Recent Developments
10.7. Suzhou Green Hydrogen Energy Co. Ltd.
10.7.1. Snapshot
10.7.2. Overview
10.7.3. Offerings
10.7.4. Financial Insight
10.7.5. Recent Developments
10.8. Suzhou Jingli Hydrogen Production Equipment Co. Ltd.
10.8.1. Snapshot
10.8.2. Overview
10.8.3. Offerings
10.8.4. Financial Insight
10.8.5. Recent Developments
10.9. ITM Power PLC
10.9.1. Snapshot
10.9.2. Overview
10.9.3. Offerings
10.9.4. Financial Insight
10.9.5. Recent Developments
10.10. Clean Power Hydrogen Group Limited
10.10.1. Snapshot
10.10.2. Overview
10.10.3. Offerings
10.10.4. Financial Insight
10.10.5. Recent Developments
10.11. Plug Power Inc.
10.11.1. Snapshot
10.11.2. Overview
10.11.3. Offerings
10.11.4. Financial Insight
10.11.5. Recent Developments
10.12 Hitachi Zosen Corporation
10.12.1. Snapshot
10.12.2. Overview
10.12.3. Offerings
10.12.4. Financial Insight
10.12.5. Recent Developments
10.13. John Cockerill
10.13.1. Snapshot
10.13.2. Overview
10.13.3. Offerings
10.13.4. Financial Insight
10.13.5. Recent Developments
10.14 Siemens Energy AG
10.14.1. Snapshot
10.14.2. Overview
10.14.3. Offerings
10.14.4. Financial Insight
10.14.5. Recent Developments
10.15. McPhy Energy S.A.
10.15.1. Snapshot
10.15.2. Overview
10.15.3. Offerings
10.15.4. Financial Insight
10.15.5. Recent Developments
10.16. Enapter AG
10.16.1. Snapshot
10.16.2. Overview
10.16.3. Offerings
10.16.4. Financial Insight
10.16.5. Recent Developments
10.17. Elogen
10.17.1. Snapshot
10.17.2. Overview
10.17.3. Offerings
10.17.4. Financial Insight
10.17.5. Recent Developments
10.18. h2e Power Systems Pvt. Ltd.
10.18.1. Snapshot
10.18.2. Overview
10.18.3. Offerings
10.18.4. Financial Insight
10.18.5. Recent Developments
10.19. Ohmium
10.19.1. Snapshot
10.19.2. Overview
10.19.3. Offerings
10.19.4. Financial Insight
10.19.5. Recent Developments
10.20. Hystar
10.20.1. Snapshot
10.20.2. Overview
10.20.3. Offerings
10.20.4. Financial Insight
10.20.5. Recent Developments
11. Appendix
11.1. Exchange Rates
11.2. Abbreviations
Note: Financial insight and recent developments of different companies are subject to availability of information in secondary domain.
List of Tables
Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 5 Global Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 6 Global Water Electrolyzer Market Size, by End-use Application, 2018 – 2023 (USD Billion)
Table 7 Global Water Electrolyzer Market Size, by End-use Application, 2025 – 2030 (USD Billion)
Table 10 Global Water Electrolyzer Market Size, by Region, 2018 – 2023 (USD Billion)
Table 11 Global Water Electrolyzer Market Size, by Region, 2025 – 2030 (USD Billion)
Table 12 North America Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 13 North America Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 14 North America Water Electrolyzer Market Size, by End-use Application, 2018–2023 (USD Billion)
Table 15 North America Water Electrolyzer Market Size, by End-use Application, 2025 - 2030 (USD Billion)
Table 18 North America Water Electrolyzer Market Size, by Country, 2018 – 2023 (USD Billion)
Table 19 North America Water Electrolyzer Market Size, by Country, 2025 – 2030 (USD Billion)
Table 20 Europe Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 21 Europe Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 22 Europe Water Electrolyzer Market Size, by End-use Application, 2018 – 2023 (USD Billion)
Table 23 Europe Water Electrolyzer Market Size, by End-use Application, 2025 – 2030 (USD Billion)
Table 26 Europe Water Electrolyzer Market Size, by Country, 2018 – 2023 (USD Billion)
Table 27 Europe Water Electrolyzer Market Size, by Country, 2025 – 2030 (USD Billion)
Table 28 Asia-Pacific Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 29 Asia-Pacific Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 30 Asia-Pacific Water Electrolyzer Market Size, by End-use Application, 2018–2023 (USD Billion)
Table 31 Asia-Pacific Water Electrolyzer Market Size, by End-use Application, 2025 - 2030 (USD Billion)
Table 34 Asia-Pacific Water Electrolyzer Market Size, by Country, 2018 – 2023 (USD Billion)
Table 35 Asia-Pacific Water Electrolyzer Market Size, by Country, 2025 – 2030 (USD Billion)
Table 36 RoW Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 37 RoW Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 38 RoW Water Electrolyzer Market Size, by End-use Application, 2018 – 2023 (USD Billion)
Table 39 RoW Water Electrolyzer Market Size, by End-use Application, 2025 – 2030 (USD Billion)
Table 42 RoW Water Electrolyzer Market Size, by Country, 2018 – 2023 (USD Billion)
Table 43 RoW Water Electrolyzer Market Size, by Country, 2025 – 2030 (USD Billion)
Table 44 Snapshot – Asahi Kasei Corporation
Table 45 Snapshot – Nel ASA
Table 46 Snapshot – Thyssenkrupp AG
Table 47 Snapshot – Cummins Inc.
Table 48 Snapshot – Toshiba Energy Systems & Solutions Corporation
Table 49 Snapshot – Teledyne Energy Systems Inc.
Table 50 Snapshot – Suzhou Green Hydrogen Energy Co. Ltd.
Table 51 Snapshot – Suzhou Jingli Hydrogen Production Equipment Co. Ltd.
Table 52 Snapshot – ITM Power PLC
Table 53 Snapshot – Clean Power Hydrogen Group Limited
Table 54 Snapshot – Plug Power Inc.
Table 55 Snapshot – Hitachi Zosen Corporation
Table 56 Snapshot – John Cockerill
Table 57 Snapshot – Siemens Energy AG
Table 58 Snapshot – McPhy Energy S.A.
Table 59 Snapshot – Enapter AG
Table 60 Snapshot – Elogen
Table 61 Snapshot – h2e Power Systems Pvt. Ltd.
Table 62 Snapshot – Ohmium
Table 63 Snapshot – Hystar
List of Figures
Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Water Electrolyzer Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Water Electrolyzer Market Highlight
Figure 12 Global Water Electrolyzer Market Size, by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 13 Global Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 15 Global Water Electrolyzer Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 16 North America Water Electrolyzer Market Highlight
Figure 17 North America Water Electrolyzer Market Size, by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 18 North America Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 20 North America Water Electrolyzer Market Size, by Country, 2018 - 2030 (USD Billion)
Figure 21 Europe Water Electrolyzer Market Highlight
Figure 22 Europe Water Electrolyzer Market Size, by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 23 Europe Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 25 Europe Water Electrolyzer Market Size, by Country, 2018 - 2030 (USD Billion)
Figure 26 Asia-Pacific Water Electrolyzer Market Highlight
Figure 27 Asia-Pacific Water Electrolyzer Market Size, by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 28 Asia-Pacific Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 30 Asia-Pacific Water Electrolyzer Market Size, by Country, 2018 - 2030 (USD Billion)
Figure 31 RoW Water Electrolyzer Market Highlight
Figure 32 RoW Water Electrolyzer Market Size, by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 33 RoW Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 35 RoW Water Electrolyzer Market Size, by Country, 2018 - 2030 (USD Billion)
Water Electrolyzer Market Coverage
Electrolyzer Type Insight and Forecast 2025-2030
- Alkaline ElectrolysisFCEV
- Proton Exchange Membrane (PEM) Electrolysis
- Solid Oxide Electrolysis
- Anion Exchange Membrane Electrolysis
End-use Application Insight and Forecast 2025-2030
- Transportation/Mobility Industry
- Refining Industry
- Power and Energy Storage
- Ammonia Production
- Methanol Production
Water Electrolyzer Market by Region
North America
- By Electrolyzer Type
- By End-use Application
- By Country – U.S., Canada, and Mexico
Europe
- By Electrolyzer Type
- By End-use Application
- By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe
Asia-Pacific (APAC)
- By Electrolyzer Type
- By End-use Application
- By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific
Rest of the World (RoW)
- By Electrolyzer Type
- By End-use Application
- By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
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Global Water Electrolyzer Market – Analysis and Forecast (2025-2030)
- The global water electrolyzer market is expected to grow from USD 0.62 billion to USD 58.5 billion by 2030 with a CAGR of 88.4%.
- The market, divided by type into alkaline, PEM, solid oxide, and anion exchange membrane electrolysis, sees dominance in alkaline electrolyzers. Across end-use applications like transportation, refining, power storage, and ammonia production, which leads the market.
- The market growth is driven by rising demand from the refining industry and increasing adoption in energy storage, demand for green fertilizers, expansion into diverse industrial applications, supportive government policies, and investments in research and development.
- Despite challenges like energy loss and scalability limitations, the water electrolyzer market offers growth opportunities in renewable energy integration and increasing demand for green hydrogen. Technological advancements, government backing, and diversification drive global expansion prospects.
- Europe leads the market with progressive laws and investments, backed by initiatives like the EU's Green Deal. North America anticipates notable growth driven by renewable energy investments and clean energy promotion, while the Asia-Pacific region experiences rapid industrialization, urbanization, and increasing hydrogen demand, supported by government policies and environmental awareness.