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Electrolyzers Market by Technology (Alkaline, Proton Exchange Membrane (PEM), Solid Oxide Electrolyzer, AEM), Application (Energy, Mobility, Industrial, Grid Injection), Power Rating (< 500 kW, 500-2,000 kW, >2,000 kW), Region - Global Forecast to 2030

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Date: 20-Dec-2023
No. of pages: 202
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“The electrolyzers market is projected to grow at a CAGR of 97.7% from 2023 to 2030.”

The global electrolyzers market is estimated to grow from USD 0.5 billion in 2023 to USD 57.2 billion by 2030; it is expected to record a CAGR of 97.7% during the forecast period. Growing investments in hydrogen-related infrastructure and projects from both the public and private sectors contribute to the growth of the electrolyzers industry. These investments accelerate the adoption and commercialization of electrolyzer technology. Government subsidies and regulatory frameworks aimed at promoting clean energy technologies further drive the growth of electrolyzers market.

“Alkaline Electrolyzers: The largest segment of the electrolyzers market, by technology “

Based on Technology, the electrolyzers market has been segmented into alkaline electrolyzers (AE), proton exchange membrane (PEM), solid oxide electrolyzers (SOE), and anion exchange membrane (AEM). The alkaline electrolyzers segment is expected to be the largest segment during the forecast period. Alkaline electrolyzers are experiencing growth as it among the established and commercially proven electrolysis technologies. Hydrogen is being investigated as a clean energy source by industries such as chemicals, refineries, and transportation. Alkaline electrolyzers are crucial in supplying hydrogen to these industries to reduce carbon emissions. According to industry experts, the energy efficiency of devices based on alkaline electrolyzer technology ranges between 55 and 60 percent and is highly dependent on electrolyzer capacity and hydrogen delivery pressure.

“By Power Rating, <500 kW segment is expected to be the fastest growing segment during the forecast period.”

Based on the Power Rating, the electrolyzers market is segmented into <500 kW, 500-2,000 kW, and >2,000 kW. The <500 kW segment is expected to be the fastest growing segment of the electrolyzers market during the forecast period. Smaller capacity electrolyzers provide a solution for local energy production in places where grid connection is limited or inconsistent. They enable on-site hydrogen generation, minimising reliance on centralised energy sources. Electrolyzers with power rating <500 kW and 500-2,000 kW is also mostly utilized for grid injection, and power generation applications.

“Asia-Pacific is expected to be the second largest growing region in the electrolyzers market.”

Asia Pacific is expected to be the second largest region in the electrolyzers market during the forecast period. Asia Pacific is one of the rapid growing economic region in the world with highest population in the world. Asia Pacific has the highest greenhouse gas emission in the world. To overcome such issues, Asia Pacific adopted green technology to efficiently meet the growing energy needs and reduce GHG emissions which presents opportunities for the electrolyzers. For example, The India Energy Storage Alliance’s (IESA) MIGHT (Mobility and Infrastructure with Green Hydrogen Technologies) initiative aims to investigate options for India to utilize the potential of green hydrogen technologies for green energy acceleration and clean transportation uptake.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:


  • By Company Type: Tier 1- 60%, Tier 2- 25%, and Tier 3- 15%

  • By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%

  • By Region: North America- 25%, Europe- 25%, Asia Pacific- 30%, Rest of the World – 20%


Note: Others include sales managers, engineers, and regional managers.

Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The electrolyzers market is dominated by a few major players that have a wide regional presence. The leading players in the electrolyzers market are thyssenkrupp nucera (Germany) , John Cockerill (Belgium), Nel ASA (Norway), Plug Power Inc. (US), and Siemens Energy (Germany). The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.

Research Coverage:

The report defines, describes, and forecasts the global electrolyzers market by , source, technology, generation and delivery mode, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the electrolyzers market.

Key Benefits of Buying the Report


  • Government initiatives at the national and international levels amplify the impact of investment on the electrolyzer market. Robust policy frameworks, often accompanied by financial incentives, subsidies, and regulatory support, encourage widespread adoption of electrolyzers for green hydrogen production. Factors such as high initial cost and lack of infrastructure restrain the growth of the market. The growing energy transition towards renewable energy sources and rapid urbanization are expected to present lucrative opportunities for the players operating in the electrolyzers market.

  • Product Development/ Innovation: The electrolyzers market is witnessing significant product development and innovation, driven by the growing demand for environmentally friendly, safe and sustainable products. Companies are investing in developing advanced electrolyzer technologies for various applications.

  • Market Development: Nel ASA has finalized an agreement valued at around USD 12.9 million, supplying 40 MW of alkaline electrolyzer equipment to HyCC, a leading partner in the production of green hydrogen for its H2eron project located in Delfzijl, Netherlands.

  • Market Diversification: John Cockerill announced to enter into the US hydrogen market by acquiring manufacturing space in Baytown, Houston, Texas, for a new gigafactory. The facility is expected to produce 1GW per year of electrolyzers

  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include thyssenkrupp nucera (Germany), John Cockerill (Belgium), Nel ASA (Norway), Plug Power Inc. (US), and Siemens Energy (Germany), among others in the electrolyzers market.

Electrolyzers Market by Technology (Alkaline, Proton Exchange Membrane (PEM), Solid Oxide Electrolyzer, AEM), Application (Energy, Mobility, Industrial, Grid Injection), Power Rating (< 500 kW, 500-2,000 kW, >2,000 kW), Region - Global Forecast to 2030

Table Of Contents

1 Introduction 24
1.1 Study Objectives 24
1.2 Market Definition 24
1.2.1 Inclusions And Exclusions 25
1.3 Market Scope 25
1.3.1 Market Segmentation 25
1.3.2 Regional Scope 26
1.3.3 Years Considered 26
1.4 Currency Considered 27
1.5 Limitations 27
1.6 Stakeholders 27
1.7 Impact Of Recession 27

2 Research Methodology 28
2.1 Research Data 28
Figure 1 Electrolyzers Market: Research Design 28
2.2 Market Breakdown And Data Triangulation 29
Figure 2 Data Triangulation Methodology 29
2.2.1 Secondary Data 30
2.2.1.1 Key Data From Secondary Sources 30
2.2.2 Primary Data 30
2.2.2.1 Key Data From Primary Sources 31
2.2.2.2 Breakdown Of Primary Interviews 31
Figure 3 Breakdown Of Primaries 31
2.3 Market Size Estimation 32
2.3.1 Bottom-Up Approach 32
Figure 4 Electrolyzers Market: Bottom-Up Approach 32
2.3.2 Top-Down Approach 32
Figure 5 Electrolyzers Market: Top-Down Approach 33
2.3.3 Demand-Side Analysis 33
Figure 6 Metrics Considered To Analyze Demand For Electrolyzers 33
2.3.3.1 Assumptions For Demand-Side Analysis 34
2.3.3.2 Calculations For Demand-Side Analysis 34
Table 1 Global Market Size Estimation, By Technology, 2022 34
2.3.4 Supply-Side Analysis 35
Figure 7 Key Metrics Considered For Assessing Supply Of Electrolyzers 35
Figure 8 Electrolyzers Market: Supply Side Analysis 35
2.3.4.1 Assumptions And Calculations For Supply-Side Analysis 36
Figure 9 Electrolyzers Market: Market Share Analysis 36
2.4 Growth Forecast 37
2.5 Impact Of Recession 37

3 Executive Summary 38
Table 2 Electrolyzers Market Snapshot 38
Figure 10 Alkaline Electrolyzers To Dominate Electrolyzers Market, By Technology, During Forecast Period 39
Figure 11 Mobility Applications To Lead Electrolyzers Market, By Application, During Forecast Period 39
Figure 12 Row Dominated Electrolyzers Market In 2022 40

4 Premium Insights 41
4.1 Attractive Opportunities For Players In Electrolyzers Market 41
Figure 13 Increasing Demand For Green Hydrogen To Drive Electrolyzers Market, 2023–2028 41
4.2 Electrolyzers Market, By Region 41
Figure 14 Europe To Witness Fastest Growth Of Electrolyzers Market During Forecast Period 41
4.3 Electrolyzers Market, By Technology 42
Figure 15 Alkaline Electrolyzer Segment Dominated Electrolyzers Market, By Technology, In 2021 42
4.4 Electrolyzers Market, By Application 42
Figure 16 Mobility Segment Dominated Electrolyzers Market, By Application, In 2022 42
4.5 Electrolyzers Market In Row, By Application & Country 43
Figure 17 Industrial Applications & Egypt Dominated Electrolyzers Market In Row, By Application & Country, In 2022 43

5 Market Overview 44
5.1 Introduction 44
5.2 Market Dynamics 45
Figure 18 Electrolyzers Market: Drivers, Restraints, Opportunities, And Challenges 45
5.2.1 Drivers 45
5.2.1.1 Declining Renewable Energy Costs 45
Table 3 Global Lcoe From Newly Commissioned Utility-Scale Solar And Wind Power Technologies, 2020–2021 46
Figure 19 Global Weighted Average Lcoe From Newly Commissioned, Utility-Scale Renewable Power Generation Technologies, 2010–2021 46
5.2.1.2 Increasing Government Support 46
5.2.1.3 Increasing Investments In Electrolyzer Deployment 47
5.2.1.4 Rising Demand For Electrolyzer-Based Green Ammonia For Fertilizer Production 47
5.2.2 Restraints 47
5.2.2.1 Use Of Critical Materials 47
Table 4 Critical Materials Global Shares 48
5.2.2.2 Underdeveloped Electrolyzer Supply Chain 48
5.2.3 Opportunities 48
5.2.3.1 Plans To Achieve Net Zero And Electrolyzer Targets 48
Table 5 Zero Emission Targets Of Major Economies 49
Figure 20 Electrolyzer Capacity Targets In Europe, 2030 (Gw) 49
5.2.3.2 Increasing Demand For Electrolyzer-Based Onsite Hydrogen Refueling Stations (Hrs) 49
Figure 21 Hydrogen Refueling Stations Worldwide, 2020 50
5.2.3.3 High Potential Of Electrolyzer-Based Hydrogen Trade In Europe 50
5.2.4 Challenges 50
5.2.4.1 High Initial Investments In Hydrogen Fueling Infrastructure 50
5.2.4.2 Insufficient Infrastructure To Support Hydrogen Markets 51
5.3 Trends/Disruptions Impacting Customer Business 51
Figure 22 Revenue Shift For Electrolyzer Providers 51
5.4 Supply Chain Analysis 52
Figure 23 Electrolyzers Market: Supply Chain Analysis 52
5.4.1 Raw Materials Providers 52
5.4.2 Processed Materials Providers 52
5.4.3 Subcomponent Providers 53
5.4.4 Electrolyzer Manufacturers 53
5.4.5 End Users 53
Table 6 List Of Companies And Their Roles In Electrolyzer Ecosystem 53
5.5 Ecosystem Mapping 55
Figure 24 Electrolyzers Market Map 55
5.6 Technology Analysis 55
5.7 Patent Analysis 58
5.7.1 List Of Major Patents 58
Table 7 Electrolyzer: Innovations And Patent Registrations, June 2016–November 2022 58
5.8 Tariff And Regulatory Framework 59
5.8.1 Regulatory Bodies, Government Agencies, And Other Organizations 59
Table 8 North America: List Of Regulatory Bodies, Government Agencies, And Other Organizations 59
Table 9 Europe: List Of Regulatory Bodies, Government Agencies, And Other Organizations 60
Table 10 Asia Pacific: List Of Regulatory Bodies, Government Agencies, And Other Organizations 61
Table 11 Rest Of The World: List Of Regulatory Bodies, Government Agencies, And Other Organizations 61
5.8.2 Electrolyzers Market: Regulatory Framework 62
Table 12 Regulatory Framework: Electrolyzers Market, By Region 62
5.9 Key Conferences And Events 62
Table 13 Electrolyzers Market: Detailed List Of Conferences And Events, 2023–2024 62
5.10 Trade Analysis 63
5.10.1 Hs Code 63
5.10.1.1 Export Scenario 63
Table 14 Export Scenario For Hs Code, By Country, 2019–2021 (Usd) 63
Figure 25 Export Data For Top 5 Countries, 2019–2021 (Usd) 64
5.10.1.2 Import Scenario 64
Table 15 Import Scenario For Hs Code, By Country, 2019–2021 (Usd) 64
Figure 26 Import Data For Top 5 Countries, 2019–2021 (Usd) 65
5.11 Pricing Analysis 65
Table 16 Indicative Pricing Analysis, By Technology 65
5.12 Case Study Analysis 65
5.12.1 Large-Scale Hydrogen Production 65
5.12.1.1 Problem Statement 65
5.12.1.2 Solution 65
5.12.2 Storing And Transporting Renewable Energy 66
5.12.2.1 Problem Statement 66
5.12.2.2 Solution 66
5.13 Porter's Five Forces Analysis 66
Figure 27 Porter's Five Forces Analysis For Electrolyzers Market 66
Table 17 Electrolyzers Market: Porter's Five Forces Analysis 67
5.13.1 Threat Of Substitutes 67
5.13.2 Bargaining Power Of Suppliers 67
5.13.3 Bargaining Power Of Buyers 67
5.13.4 Threat Of New Entrants 68
5.13.5 Intensity Of Competitive Rivalry 68
5.14 Key Stakeholders And Buying Criteria 68
5.14.1 Key Stakeholders In Buying Process 68
Figure 28 Influence Of Stakeholders On Buying Process For Top 3 Application Industries 68
Table 18 Influence Of Stakeholders On Buying Process For Top 3 Applications (%) 69
5.14.2 Buying Criteria 69
Figure 29 Key Buying Criteria For Top 3 Applications 69
Table 19 Key Buying Criteria For Top 3 Applications 69

6 Electrolyzers Market, By Power Rating 70
6.1 Introduction 71
Table 20 Company Power Rating Footprint 71
6.2 <500 Kw 71
6.2.1 Growing Demand For <500 Kw Electrolyzers Expected To Boost Segment 71
6.3 500–2,000 Kw 72
6.3.1 Increasing Demand For Green Hydrogen To Boost Market 72
6.4 >2,000 Kw 72
6.4.1 Rising Investments In High-Capacity Hydrogen Production Plants 72

7 Electrolyzers Market, By Technology 73
7.1 Introduction 74
Figure 30 Electrolyzers Market Share, By Technology, 2022 (%) 74
Table 21 Electrolyzers Market, By Technology, 2021–2028 (Kw) 74
Table 22 Electrolyzers Market, By Technology, 2021–2028 (Usd Million) 75
7.2 Alkaline Electrolyzer (Ae) 75
7.2.1 Relatively Mature And Cost-Effective Technology 75
Table 23 Alkaline Electrolyzer: Electrolyzers Market, By Region, 2021–2028 (Kw) 75
Table 24 Alkaline Electrolyzer: Electrolyzers Market, By Region, 2021–2028 (Usd Million) 76
7.3 Proton Exchange Membrane (Pem) 76
7.3.1 Highly Flexible Technology And Good Coupling With Dynamic And Intermittent Renewable Energy Systems 76
Table 25 Proton Exchange Membrane (Pem): Electrolyzers Market, By Region, 2021–2028 (Kw) 77
Table 26 Proton Exchange Membrane (Pem): Electrolyzers Market, By Region, 2021–2028 (Usd Million) 77
7.4 Solid Oxide Electrolyzer (Soe) 77
7.4.1 Efficient Technology Reducing Need For Electricity While Producing Hydrogen 77
Table 27 Solid Oxide Electrolyzer: Electrolyzers Market, By Region, 2021–2028 (Kw) 78
Table 28 Solid Oxide Electrolyzer: Electrolyzers Market, By Region, 2021–2028 (Usd Million) 78
7.5 Anion Exchange Membrane (Aem) 78
7.5.1 Potential Technology Coupled With Benefits Of Proton Exchange Membrane And Alkaline Water Electrolysis 78
Table 29 Anion Exchange Membrane: Electrolyzers Market, By Region, 2021–2028 (Kw) 79
Table 30 Anion Exchange Membrane: Electrolyzers Market, By Region, 2021–2028 (Usd Million) 79

8 Electrolyzers Market, By Application 80
8.1 Introduction 81
Figure 31 Electrolyzers Market Share, By Application, 2022 (%) 81
Table 31 Electrolyzers Market, By Application, 2021–2028 (Kw) 81
Table 32 Electrolyzers Market, By Application, 2021–2028 (Usd Million) 82
8.2 Energy 82
Table 33 Energy: Electrolyzers Market, By Region, 2021–2028 (Kw) 82
Table 34 Energy: Electrolyzers Market, By Region, 2021–2028 (Usd Million) 83
Table 35 Energy: Electrolyzers Market, By Application, 2021–2028 (Kw) 83
Table 36 Energy: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 83
8.2.1 Power Generation 83
8.2.1.1 Increasing Demand For Hydrogen To Cope With Load Fluctuations 83
8.2.2 Chp 84
8.2.2.1 Shift Toward Green Hydrogen Instead Of Coal For Chp Plants 84
8.3 Mobility 84
8.3.1 Increasing Government Investments To Shift Toward Clean Fuel 84
Table 37 Mobility: Electrolyzers Market, By Region, 2021–2028 (Kw) 85
Table 38 Mobility: Electrolyzers Market, By Region, 2021–2028 (Usd Million) 85
8.4 Industrial 86
Table 39 Industrial: Electrolyzers Market, By Region, 2021–2028 (Kw) 86
Table 40 Industrial: Electrolyzers Market, By Region, 2021–2028 (Usd Million) 86
Table 41 Industrial: Electrolyzers Market, By Application, 2021–2028 (Kw) 86
Table 42 Industrial: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 87
8.4.1 Chemical 87
8.4.1.1 Increasing Demand For Clean Energy Sources In Chemical Industry 87
8.4.2 Industries 87
8.4.2.1 Growing Demand For Clean Energy 87
8.5 Grid Injection 88
8.5.1 Increased Penetration Of Renewables In Energy Systems 88
Table 43 Grid Injection: Electrolyzers Market, By Region, 2021–2028 (Kw) 88
Table 44 Grid Injection: Electrolyzers Market, By Region, 2021–2028 (Usd Million) 88

9 Electrolyzers Market, By Region 89
9.1 Introduction 90
Figure 32 Rest Of The World Accounted For Largest Share Of Electrolyzers Market In 2022 90
Table 45 Electrolyzers Market, By Region, 2021–2028 (Kw) 90
Table 46 Electrolyzers Market, By Region, 2021–2028 (Usd Million) 91
9.2 Europe 91
Figure 33 Europe: Electrolyzers Market Snapshot 92
9.2.1 Europe: Recession Impact 92
9.2.2 Europe: Electrolyzers Project List 93
Table 47 Europe: Electrolyzers Project List 93
9.2.3 By Technology 95
Table 48 Europe: Electrolyzers Market, By Technology,
2021–2028 (Usd Million) 95
9.2.4 By Application 95
Table 49 Europe: Electrolyzers Market, By Application,
2021–2028 (Usd Million) 95
9.2.5 By Country 96
Table 50 Europe: Electrolyzers Market, By Country, 2021–2028 (Kw) 96
Table 51 Europe: Electrolyzers Market, By Country, 2021–2028 (Usd Million) 96
9.2.5.1 Germany 97
9.2.5.1.1 Ongoing Large-Scale Green Hydrogen Projects 97
Table 52 Germany: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 97
9.2.5.2 Uk 98
9.2.5.2.1 Rise In Electrolyzer Manufacturing Capacities 98
Table 53 Uk: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 98
9.2.5.3 France 99
9.2.5.3.1 Government Support And Focus On Research Activities 99
Table 54 France: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 100
9.2.5.4 Denmark 100
9.2.5.4.1 Efforts To Decarbonize Mobility Sector 100
Table 55 Denmark: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 101
9.2.5.5 Austria 101
9.2.5.5.1 Focus On Decarbonizing Steel And Chemical Industries 101
Table 56 Austria: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 102
9.2.5.6 Netherlands 102
9.2.5.6.1 Highest Subsidies Per Gigawatt Of Electrolyzer Capacity 102
Table 57 Netherlands: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 103
9.2.5.7 Norway 103
9.2.5.7.1 Accelerated Development Of Large Electrolyzer Manufacturing For Industrial Applications 103
Table 58 Norway: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 104
9.2.5.8 Rest Of Europe 104
Table 59 Rest Of Europe: Electrolyzers Market, By Application,
2021–2028 (Usd Million) 105
9.3 North America 106
Figure 34 North America: Electrolyzers Market Snapshot 106
9.3.1 North America: Recession Impact 107
9.3.2 North America: Electrolyzers Project List 107
Table 60 North America: Electrolyzers Project List 107
9.3.3 By Technology 107
Table 61 North America: Electrolyzers Market, By Technology,
2021–2028 (Usd Million) 107
9.3.4 By Application 108
Table 62 North America: Electrolyzers Market, By Application,
2021–2028 (Usd Million) 108
9.3.5 By Country 108
Table 63 North America: Electrolyzers Market, By Country, 2021–2028 (Kw) 108
Table 64 North America: Electrolyzers Market, By Country, 2021–2028 (Usd Million) 108
9.3.5.1 Us 109
9.3.5.1.1 National Hydrogen Strategy To Support Market Growth 109
Table 65 Us: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 109
9.3.5.2 Canada 110
9.3.5.2.1 Presence Of Hydro-Powered Electrolyzer Facilities 110
Table 66 Canada: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 110
9.4 Asia Pacific 110
9.4.1 Asia Pacific: Recession Impact 111
9.4.2 Asia Pacific: Electrolyzers Project List 111
Table 67 Asia Pacific: Electrolyzers Project List 111
9.4.3 By Technology 112
Table 68 Asia Pacific: Electrolyzers Market, By Technology, 2021–2028 (Usd Million) 112
9.4.4 By Application 112
Table 69 Asia Pacific: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 112
9.4.5 By Country 113
Table 70 Asia Pacific: Electrolyzers Market, By Country, 2021–2028 (Kw) 113
Table 71 Asia Pacific: Electrolyzers Market, By Country, 2021–2028 (Usd Million) 113
9.4.5.1 China 113
9.4.5.1.1 Construction Of World’s Largest Electrolysis Plants And Lower Cost/Kw 113
Table 72 China: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 114
9.4.5.2 Japan 114
9.4.5.2.1 Upcoming Hydrogen Refueling Stations And Hydrogen Vehicles 114
Table 73 Japan: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 115
9.4.5.3 Australia 115
9.4.5.3.1 Maximum Number Of Hydrogen Projects Under Pipeline 115
Table 74 Australia: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 116
9.4.5.4 Rest Of Asia Pacific 116
Table 75 Rest Of Asia Pacific: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 118
9.5 Rest Of The World 118
9.5.1 Rest Of The World: Recession Impact 118
9.5.2 Rest Of The World: Electrolyzers Project List 118
Table 76 Rest Of The World: Electrolyzers Project List 118
9.5.3 By Technology 119
Table 77 Rest Of The World: Electrolyzers Market, By Technology, 2021–2028 (Usd Million) 119
9.5.4 By Application 119
Table 78 Rest Of The World: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 119
9.5.5 By Country 120
Table 79 Rest Of The World: Electrolyzers Market, By Region, 2021–2028 (Kw) 120
Table 80 Rest Of The World: Electrolyzers Market, By Region, 2021–2028 (Usd Million) 120
9.5.5.1 Egypt 120
Table 81 Egypt: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 121
9.5.5.2 Saudi Arabia 121
Table 82 Saudi Arabia: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 121
9.5.5.3 Other Countries 122
Table 83 Other Countries: Electrolyzers Market, By Application, 2021–2028 (Usd Million) 123

10 Competitive Landscape 124
10.1 Overview 124
Figure 35 Key Developments In Electrolyzers Market, 2019–2023 124
10.2 Market Share Analysis Of Key Players, 2021 125
Table 84 Electrolyzers Market: Degree Of Competition 125
Figure 36 Electrolyzers Market: Degree Of Competition 125
Figure 37 Market Share Analysis Of Top Players, 2021 126
10.3 Market Evaluation Framework 126
Table 85 Market Evaluation Framework, 2019–2023 126
10.4 Segmental Revenue Analysis Of Top Market Players 127
Figure 38 Segmental Revenue Analysis, 2017–2022 127
10.5 Recent Developments 128
10.5.1 Deals 128
Table 86 Electrolyzers Market: Deals, 2019–2023 128
10.5.2 Product Launches 129
Table 87 Electrolyzers Market: Product Launches, 2019–2023 129
10.5.3 Others 129
Table 88 Electrolyzers Market: Others, 2019–2023 129
10.6 Key Company Evaluation Quadrant, 2022 130
10.6.1 Stars 130
10.6.2 Emerging Leaders 130
10.6.3 Pervasive Players 130
10.6.4 Participants 130
Figure 39 Electrolyzers Market: Key Company Evaluation Quadrant, 2021 131
10.7 Company Product Footprint Analysis 132
Table 89 Technology Footprint: Key Players 132
Table 90 Application Footprint: Key Players 133
Table 91 Power Rating Footprint: Key Players 134
Table 92 Region Footprint: Key Players 135
10.8 Start-Ups/Smes Evaluation Quadrant, 2022 136
10.8.1 Progressive Companies 136
10.8.2 Responsive Companies 136
10.8.3 Dynamic Companies 136
10.8.4 Starting Blocks 136
Figure 40 Electrolyzers Market: Start-Ups/Smes Evaluation Quadrant, 2021 137
10.9 Competitive Benchmarking 137
Table 93 Electrolyzers Market: Detailed List Of Key Start-Ups/Smes 137
Table 94 Technology Footprint: Start-Ups 138
Table 95 Application Footprint: Start-Ups 138
Table 96 Power Rating Footprint: Start-Ups 138
Table 97 Region Footprint: Start-Ups 139

11 Company Profiles 140
(Business Overview, Products/Services/Solutions Offered, Recent Developments, And Mnm View (Key Strengths/Right To Win, Strategic Choices Made, And Weaknesses And Competitive Threats))*
11.1 Key Players 140
11.1.1 Nel Asa 140
Table 98 Nel Asa: Business Overview 140
Figure 41 Nel Asa: Company Snapshot 141
Table 99 Nel Asa: Product Launches 142
Table 100 Nel Asa: Deals 143
Table 101 Nel Asa: Others 147
11.1.2 Siemens Energy 148
Table 102 Siemens Energy: Business Overview 148
Figure 42 Siemens Energy: Company Snapshot 149
Table 103 Siemens Energy: Deals 150
Table 104 Siemens Energy: Others 151
11.1.3 Plug Power Inc. 153
Table 105 Plug Power Inc.: Business Overview 153
Figure 43 Plug Power Inc.: Company Snapshot 154
Table 106 Plug Power Inc.: Deals 155
Table 107 Plug Power Inc.: Others 156
11.1.4 Enapter S.R.L. 157
Table 108 Enapter S.R.L.: Business Overview 157
Figure 44 Enapter S.R.L.: Company Snapshot 158
Table 109 Enapter S.R.L.: Product Launch 159
Table 110 Enapter S.R.L.: Deals 159
Table 111 Enapter S.R.L.: Others 160
11.1.5 Cummins Inc. 162
Table 112 Cummins Inc.: Business Overview 162
Figure 45 Cummins Inc.: Company Snapshot 163
Table 113 Cummins Inc.: Deals 164
Table 114 Cummins Inc.: Others 166
11.1.6 Itm Power Plc 168
Table 115 Itm Power Plc: Business Overview 168
Figure 46 Itm Power Plc: Company Snapshot 169
Table 116 Itm Power Plc: Deals 170
Table 117 Itm Power Plc: Others 172
11.1.7 Mcphy Energy S.A. 173
Table 118 Mcphy Energy S.A.: Business Overview 173
Figure 47 Mcphy Energy S.A.: Company Snapshot 174
Table 119 Mcphy Energy S.A.: Deals 175
Table 120 Mcphy Energy S.A.: Others 176
11.1.8 Peric Hydrogen Technologies Co., Ltd 177
Table 121 Peric Hydrogen Technologies Co., Ltd: Business Overview 177
Table 122 Peric Hydrogen Technologies Co., Ltd.: Deals 178
11.1.9 Beijing Sinohy Energy Co., Ltd 179
Table 123 Beijing Sinohy Energy Co., Ltd.: Business Overview 179
Table 124 Beijing Sinohy Energy Co., Ltd.: Deals 180
11.1.10 Longi 181
Table 125 Longi: Business Overview 181
Figure 48 Longi: Company Snapshot 182
Table 126 Longi: Deals 183
Table 127 Longi: Others 183
11.1.11 Cockerill Jingli Hydrogen 184
Table 128 Cockerill Jingli Hydrogen: Business Overview 184
11.1.12 H2e Power 185
Table 129 H2e Power: Business Overview 185
Table 130 H2e Power: Deals 185
11.1.13 H-Tec Systems Gmbh 186
Table 131 H-Tec Systems Gmbh: Business Overview 186
Table 132 H-Tec Systems Gmbh: Product Launch 186
Table 133 H-Tec Systems Gmbh: Deals 187
Table 134 H-Tec Systems Gmbh: Others 187
11.1.14 Thyssenkrupp Nucera 188
Table 135 Thyssenkrupp Nucera: Business Overview 188
Table 136 Thyssenkrupp Nucera: Deals 189
11.1.15 Sunfire Gmbh 191
Table 137 Sunfire Gmbh: Business Overview 191
Table 138 Sunfire Gmbh: Deals 192
Table 139 Sunfire Gmbh: Others 193
11.2 Other Companies 194
11.2.1 Next Hydrogen 194
11.2.2 Asahi Kasei Corporation. 194
11.2.3 Bloom Energy 195
11.2.4 Oxeon Energy, Llc. 195
11.2.5 Green Hydrogen Systems 196
11.2.6 Erre Due S.P.A. 196
11.2.7 Hydrogenpro 197
11.2.8 Igas Energy Gmbh 197
11.2.9 Topsoe 198
*Details On Business Overview, Products/Services/Solutions Offered, Recent Developments, And Mnm View (Key Strengths/Right To Win, Strategic Choices Made, And Weaknesses And Competitive Threats) Might Not Be Captured In Case Of Unlisted Companies.

12 Appendix 199
12.1 Insights From Industry Experts 199
12.2 Discussion Guide 200
12.3 Knowledgestore: Marketsandmarkets' Subscription Portal 203
12.4 Customization Options 205
12.5 Related Reports 205
12.6 Author Details 206

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