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Hydrogen Electrolyzer Market Share

Report ID: GMI8553
Published Date: Mar 2024
Report Format: PDF

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Hydrogen Electrolyzer Market Size

Global Company Market Share Analysis, 2023, (%)

Hydrogen electrolyzers industry seem to be moderately fragmented in nature due to presence of numerous local and global players across the globe. In 2023, the market players like • Air Liquide, Ballard Power Systems, Beijing CEI Technology Co., Ltd., Enapter, Gaztransport & Technigaz, Giner Inc., GreenHydrogen Systems and iGas Energy GmbH collectively held around substantial 15%-20% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.

Hydrogen Electrolyzer Market Companies

Some key players profiled in the hydrogen electrolyzer industry include:

Air Liquide
Ballard Power Systems
Beijing CEI Technology Co., Ltd.
Enapter
Gaztransport & Technigaz
Giner Inc.
GreenHydrogen Systems
iGas Energy GmbH
ITM Power Plc
McPhy Energy
Nel Hydrogen
Next Hydrogen
Plug Power Inc.
Siemens AG
Tianjin Mainland Hydrogen Equipment Co. Ltd

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of hydrogen electrolyzer was reached USD 588 million in 2023 and is expected to record a CAGR of over 26.5% between 2024 and 2032, as hydrogen produced through electrolysis is a versatile & clean energy carrier for applications including transportation, industrial operations, power generation, and energy storage.

The polymer electrolyte membrane electrolyzer segment accounted for USD 267 million in 2023 and expected to reach USD 2.03 billion by 2032, as these electrolyzers are known for their high efficiency and fast response times, making them suitable for applications requiring rapid hydrogen production and dynamic operation.

North America held around 29% share of the total market in 2023 and is anticipated to grow at a strong rate through 2032, favored by rapid growth in renewable energy deployment, including wind, solar, and hydroelectric power across the region.

Air Liquide, Ballard Power Systems, Beijing CEI Technology Co., Ltd., Enapter, Gaztransport & Technigaz, Giner Inc., GreenHydrogen Systems, iGas Energy GmbH, ITM Power Plc, McPhy Energy, Nel Hydrogen, Next Hydrogen, Plug Power Inc., Siemens AG, and Tianjin Mainland Hydrogen Equipment Co. Ltd.