1Q 2022

Market Data: Electrolyzers

Clean Hydrogen Production Technologies: Global Market Forecasts and Analysis

Hydrogen is one of the salient topics being discussed in the energy transition. With countries and economies developing their decarbonization plans, hydrogen’s potential is being acknowledged for myriad reasons. Hydrogen produced using renewable energy has the potential to provide large-scale decarbonization solutions in sectors that have been hard to abate. The reduction in costs for producing green hydrogen is propelling the hydrogen economy, a trend that is expected to continue from 2022 to 2031.

The most common method of producing hydrogen is via steam-methane reforming (SMR). In this process, hydrogen is produced by reacting steam with methane (mostly from natural gas) under high pressures and temperatures. Despite the majority of the hydrogen being produced through carbon-emitting processes, alternative methods of hydrogen production are gaining traction. These methods for producing hydrogen through water electrolysis are becoming more desirable and cost-effective. With these technologies becoming economically viable, various barriers associated with each technology must be overcome to increase their market presence. These barriers stem from regulatory, technical, and economical frontiers.

This Guidehouse Insights report explores the growth and market penetration of water electrolysis technologies that use renewable energy to produce hydrogen. Technologies covered in this report include alkaline electrolyzers (AELs), proton exchange membrane (PEM) electrolyzers, solid oxide electrolysis cells (SOECs), and anion exchange membrane (AEM) electrolyzers. The goal of this report is to forecast capacity and revenue growth for these electrolyzers globally. These forecasts are segmented geographically across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. For each region, in-depth analysis on the distribution of electrolyzer capacity by type and their associated revenue is provided.

Pages 38
Tables | Charts | Figures 32
  • What are the drivers and barriers shaping the water electrolysis market?
  • What are the different types of water electrolysis technologies?
  • What is the global water electrolyzer capacity and revenue forecast in 2031?
  • What is the water electrolyzer capacity and revenue for North America in 2031?
  • What is the water electrolyzer capacity and revenue for Europe in 2031?
  • What is the water electrolyzer capacity and revenue for Asia Pacific in 2031? 
  • Electrolyzer manufacturers
  • Government agencies
  • Hydrogen nonprofits and research organizations
  • Renewable technology developers
  • Utilities
  • Energy cooperatives
  • On-road and off-road transportation companies
  • Investor community 

1. Executive Summary

1.1    Tremendous Growth of Clean Hydrogen Production Technologies

1.2    Global Outlook

2. Market Issues

2.1    Introduction to Water Electrolysis Technologies

2.1.1   AELs

2.1.2   PEM Electrolyzers

2.1.3   SOECs

2.1.4   AEM Electrolyzers

2.2    Market Drivers

2.2.1   Decarbonizing the Economy

2.2.2   Increasing Hydrogen Demand

2.2.3   Decreasing Total Cost of Electrolyzers

2.3    Market Barriers

2.3.1   High Capital Costs

2.3.2   Lack of Hydrogen Infrastructure

3. Market Forecasts

3.1    Forecast Methodology

3.2    Global Forecasts

3.3    North America

3.4    Europe

3.5    Asia Pacific

3.6    Latin America

3.7    Middle East & Africa

4. Conclusions and Recommendations

5. Acronym and Abbreviation List

6. Table of Contents

7. Table of Charts and Figures

8. Scope of Study, Sources and Methodology, Notes

  • Electrolyzer Capacity by Region, World Markets: 2022-2031
  • Electrolyzer Capacity by Technology, World Markets: 2022-2031
  • Electrolyzer Revenue by Region, World Markets: 2022-2031
  • Electrolyzer Revenue by Technology, World Markets: 2022-2031
  • Electrolyzer Capacity by Technology, North America: 2022-2031
  • Electrolyzer Revenue by Technology, North America: 2022-2031
  • Electrolyzer Capacity by Technology, Europe: 2022-2031
  • Electrolyzer Revenue by Technology, Europe: 2022-2031
  • Electrolyzer Capacity by Technology, Asia Pacific: 2022-2031
  • Electrolyzer Revenue by Technology, Asia Pacific: 2022-2031
  • Electrolyzer Capacity by Technology, Latin America: 2022-2031
  • Electrolyzer Revenue by Technology, Latin America: 2022-2031
  • Electrolyzer Capacity by Technology, Middle East & Africa: 2022-2031
  • Electrolyzer Revenue by Technology, Middle East & Africa: 2022-2031
  • Electrolyzer Capacity by Region, World Markets: 2022-2031
  • Electrolyzer Capacity by Technology, World Markets: 2022-2031
  • Electrolyzer Revenue by Region, World Markets: 2022-2031
  • Electrolyzer Revenue by Technology, World Markets: 2022-2031
  • Electrolyzer Capacity by Technology, North America: 2022-2031
  • Electrolyzer Revenue by Technology, North America: 2022-2031
  • Electrolyzer Capacity by Technology, Europe: 2022-2031
  • Electrolyzer Revenue by Technology, Europe: 2022-2031
  • Electrolyzer Capacity by Technology, Asia Pacific: 2022-2031
  • Electrolyzer Revenue by Technology, Asia Pacific: 2022-2031
  • Electrolyzer Capacity by Technology, Latin America: 2022-2031
  • Electrolyzer Revenue by Technology, Latin America: 2022-2031
  • Electrolyzer Capacity by Technology, Middle East & Africa: 2022-2031
  • Electrolyzer Revenue by Technology, Middle East & Africa: 2022-2031
  • AEL SWOT Analysis
  • PEM Electrolyzer SWOT Analysis
  • SOEC SWOT Analysis
  • AEM Electrolyzer SWOT Analysis
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