Global Electrolyzer Market Report 2023: Market to Reach $15.49 Billion by 2029 up from $3.64 Billion in 2022 – Market Surges Amid Transition to Sustainable Energy Systems

Global Electrolyzer Market Report 2023: Market to Reach .49 Billion by 2029 up from .64 Billion in 2022 – Market Surges Amid Transition to Sustainable Energy Systems

DUBLIN, Jan. 12, 2024 /PRNewswire/ — The “Global Electrolyzer Market (2023 Edition): Analysis by Type (Traditional Alkaline, PEM, Solid Oxide), Capacity (<=500KW, 500KW – 2 MW, Above 2 MW), By Application, By Region, By Country: Market Insights and Forecast (2019-2029)” report has been added to ResearchAndMarkets.com’s offering.


The Global Electrolyzer Market is expected to generate USD 15.49 Billion by the end of 2029, up from USD 3.64 Billion in 2022. During the forecast period, 2024-2029, Global Electrolyzer is expected to expand at a CAGR of 18.69%. 

The research report covers a detailed analysis of the regions (Americas, Europe, APAC, Middle East Africa) and 10 countries (United States, Canada, Brazil, United Kingdom, Germany, France, China, Japan, India, and South Korea). 

The market for alkaline electrolyzers is driven by the increasing demand for hydrogen in various applications such as power generation, transportation, and industrial gas. The transportation segment is expected to grow at the highest CAGR during the forecast period, due to the increasing adoption of fuel cell vehicles. The demand for alkaline electrolyzers has been increasing due to the growing demand for hydrogen as a clean energy source.

The electrolyzer market is growing rapidly due to the increasing demand for green hydrogen, which is produced using renewable energy sources such as wind and solar power. Electrolyzers are used to produce hydrogen through the process of electrolysis.

The market is driven by the need to reduce carbon emissions and transition towards a more sustainable energy system. The industrial sector is a major consumer of hydrogen, and the use of hydrogen in industries such as refining, chemicals, and steel production is expected to drive the demand for electrolyzers.

However, the high cost of electrolyzers and the lack of a regulatory framework for the development of hydrogen infrastructure are some of the challenges faced by the market. Nonetheless, with the increasing focus on decarbonization and the adoption of renewable energy sources, the electrolyzer market is expected to witness significant growth in the coming years.

Scope of the Report

  • The report analyses the Electrolyzer Market by Value (USD Million).
  • The report analyses the Electrolyzer Market by Volume (MW).
  • The report presents the analysis of the Electrolyzer market for the historical period of 2019-2022, the estimated year 2023, and the forecast period of 2024-2029.
  • The report analyses the Electrolyzer Market by Type (Traditional Alkaline, PEM, Solid Oxide).
  • The report analyses the Electrolyzer Market by Application (Power Plants, Steel Plants, Electronics & Photovoltaics, Others).
  • The report analyses the Electrolyzer Market by Industry (Industrial & Manufacturing, Commercial, Residential, Others).
  • The report analyses the Electrolyzer Market by Capacity (< =500KW, 500KW – 2 MW, Above 2 MW).
  • The Global Electrolyzer Market has been analyzed by countries (United States, Canada, Brazil, Germany, France, United Kingdom, China, Japan, South Korea and India).
  • The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by country, by type, by application, by industry, and by capacity.
  • Also, the major opportunities, trends, drivers, and challenges of the industry have been analyzed in the report.
  • The report tracks competitive developments, strategies, mergers and acquisitions and new product development.

Strategic Recommendations

  • Collaboration and Partnerships
  • Scaling Up Electrolyzer Capacity

Competitive Positioning

  • Companies’ Product Positioning
  • Market Position Matrix
  • Market Share Analysis of Electrolyzer Screening Market

Company Profiles

  • Ineos
  • Asahi Kasei
  • Thyssenkrupp Nucera
  • Bloom Energy
  • ITM Power PLC
  • Cummins Inc
  • PowerCell Sweden AB
  • Toshiba
  • SolidPower
  • FuelCell Energy

For more information about this report visit https://www.researchandmarkets.com/r/qg802

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