Press Release

Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Hydrogen Electrolyser Market to Reach USD 4,295 Million by 2026, Aided by the Favourable Government Initiatives

According to a new report by EMR titled, ‘Global Hydrogen Electrolyser Market Report and Forecast 2021-2026’, the global market for hydrogen electrolyser is expected to grow at a CAGR of 63.9% between 2021 and 2026 to attain USD 4,295 million by 2026.

The growing demand for clean energy sources owing to the rising environmental concern is driving the demand for green hydrogen across various sectors, which, in turn, is aiding the growth of the hydrogen electrolyser industry. Europe is expected to account for a significant share in the market owing to the introduction of favourable government policies. The U.K. government has placed an early focus on decarbonising industrial clusters, which is expected to result in larger deployments of electrolysers. A total of three European governments have stated explicit electrolyser targets for 2030: Germany 5GW, Holland 3-4GW, and Portugal 2GW. Thus, the growing recognition of green hydrogen as a decarbonisation tool, particularly by the governments across the nations, is expected to positively influence the hydrogen electrolyser industry over the forecast period.

In January 2021, ITM Power plc (LON: ITM), one of the key players in the industry, signed a new joint venture with Linde Engineering to enable the company to focus solely on its core competence, that is, the manufacture of electrolysis equipment. As a 50/50 joint venture, ITM Linde Electrolysis GmbH (“ILE”) will allow both the companies to accelerate development in multiple areas by uniting Linde’s EPC capabilities, hydrogen processing, and application technologies expertise, with ITM Power’s proprietary PEM electrolyser technology.

The growing popularity of hydrogen as an automotive fuel owing to its eco-friendly nature is expected to significantly contribute to the industry growth in the forecast period. In June 2021, Nikola Corporation (NASDAQ: NKLA) signed a purchase order with Nel ASA (Nel, OSE: NEL), a global hydrogen company, for 85-megawatt alkaline electrolysers, which will together produce around 40,000 kgs of hydrogen per day to support five of the world’s first 8 ton per day hydrogen fuelling stations. Nikola’s heavy-duty hydrogen stations will further cover multiple states and trucking routes, promoting clean transportation, thus, bringing a revolution in the global transportation industry and boosting the demand for hydrogen electrolysers.

Market Breakup by Type, End Use, and Region:

  • The market can be divided based on type into PEM electrolyser, alkaline water electrolyser, and solid oxide electrolyser. 
  • On the basis of end use sector, the industry can be segmented into chemicals, automobile, energy, glass, and metal, among others. 
  • Region-wise, the global market for hydrogen electrolyser can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The industry is being driven by the growing utilisation of hydrogen across various industries and the increasing preference for on-site hydrogen generation to cut down transportation and storage costs. 
  • The rising environmental concern and growing need to adopt renewable energy sources are significantly contributing to the industry growth. 
  • The rapid technological advancements and growing R&D activities are further propelling the market growth. 
  • The favourable government policies to promote the use of clean energy sources are also accelerating the growth rate of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for hydrogen electrolyser for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the types, end uses, and regional markets of hydrogen electrolyser.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global hydrogen electrolyser market are Enapter S.r.l., MVS Engineering Pvt. Ltd, Pure Energy Centre, Cummins Inc., ITM Power plc, and McPhy Energy S.A, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports

Global Soft Starter Market Report and Forecast 2022-2027