Electrolyzer Market Growth, Demand and Challenges of the Key Industry Players 2024-2032
                     Global Electrolyzer 
Market Research and 
Forecast Report 2024-
2032
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved 
About IMARC Group
In ternat ional  Market  Analys is  Research and Consul t ing Group is  a leading adv iser  on management  
s t rategy and market  research wor ldwide.  We par tner  wi th c l ients  in  a l l  regions and indust ry  
vert ica ls  to  ident i fy  thei r  h ighest -value oppor tuni t ies,  address thei r  most  cr i t ica l  chal lenges,  and 
t ransform thei r  bus inesses.
IMARC’s in format ion products  inc lude major market ,  sc ient i f ic ,  economic and technological  
developments  for  bus iness leaders  in  pharmaceut ica l ,  indust r ia l ,  and h igh technology 
organizat ions.  Market  forecasts  and indust ry  analys is  for  b iotechnology,  advanced mater ia ls ,  
chemicals ,  food and beverage,  t ravel  and tour ism, nanotechnology and novel  process ing methods 
are at  the top of  the company’s  exper t ise.
IMARC’s ta i lored approach combines unfathomable ins ight  in to the dynamics o f  companies and 
markets wi th c lose cooperat ion at  a l l  levels  of  the c l ient  organizat ion.  This ensures that  our  c l ients 
achieve unmatchable compet i t ive advantage,  bui ld  more pro f ic ient  organizat ions,  and secure 
las t ing resul ts .
Accord ing to  the la tes t  repor t  by  IMARC Group,  t i t led  "Electrolyzer  
Market:  Global  Industry Trends,  Share,  Size,  Growth,  Opportuni ty  and 
Forecast  2024-2032,"  the  g lobal  e lec t ro lyzer  market  s ize reached US$ 
505.6 Mi l l ion in  2023.
Report An e lec t ro lyzer  is  a  sys tem that  uses e lec t r ic i ty  for  carbon- f ree hydrogen 
product ion us ing renewable and nuc lear  resources.  I t  sp l i ts  water  in to  
Highlight and hydrogen and oxygen,  which is  co l lected separate ly  and fur ther  used in  
the automot ive,  power ,  and chemica l  indust r ies .  
Description In  recent  years ,  e lec t ro lyzer  has ga ined t rac t ion across the g lobe as i t  
generates e lec t r ic i ty  wi th  zero emiss ions as compared to  foss i l  fue ls  that  
re lease harmfu l  gases in  the envi ronment .
Request  for  a  PDF sample of  th is  report :  
ht tps : / /www. imarcgroup.com/e lect ro lyzer -market / requestsample
Report Description
G l ob a l  E l ec t r o l yz er  M arke t  T re nds :
The  m a r ke t  i s  p r im ar i l y  d r i ve n  by  t he  i nc r eas in g  awar e nes s  abou t  t h e  ha r m f u l  im pac t  o f  bu r n in g  f oss i l  f u e l s .  I n  ad d i t i on ,  
t he  im p le m en t a t i on  o f  s t r i ng en t  p o l i c i es  b y  go ve r n in g  au t ho r i t ie s  o f  num e r ous  c oun t r i es  t o  con t r o l  g r een house  gas  ( G HG )  
em iss ions  f r om  t he  au t om o t i ve  i n dus t r y  r ep r ese n t s  an o t he r  m a jo r  g r o w t h - in duc in g  f ac t o r .  Be s ide s  t h i s ,  e lec t r o l yze r s  a r e  
ex t e ns i ve ly  u t i l i z ed  t o  powe r  hy d r og en  f ue l  ce l l  e l ec t r i c  t r a ins ,  buses ,  t r u cks ,  and  o t h e r  ve h i c les .  Th i s ,  c oup led  w i t h  t h e  
r i s i ng  sa les  o f  e lec t r i c  ve h i c les  ( EVs ) ,  i s  d r i v i ng  t h e  de m and  f o r  hyd r ogen  r e f u e l i ng  s t a t i ons  a nd  e lec t r o l yze r s .  
Apa r t  f r om  t h i s ,  t he  m ar k e t  i s  f u r t he r  p r op e l l ed  by  t he  i n c r eas ing  p r odu c t  a dop t i o n  i n  na t u r a l  ga s  g r i ds  t o  l ower  ca r bo n  
hea t in g  an d  r e f i ne r i es  t o  r em ove  s u l f u r  f r om  f oss i l  f ue l s .  Fu r t he r m or e ,  t he  i n c r eas ing  ad op t i on  o f  w in d  and  so la r  pane ls  
f o r  e lec t r i c i t y  gene r a t io n  a nd  w idesp r ead  u t i l i z a t i on  o f  e lec t r o l yz e r s  i n  t he  p r oduc t i on  o f  g r e en  ch em ic a l s ,  s uch  as  
m e t h ano l ,  f e r t i l i ze r s ,  am m on ia ,  a nd  l i q u id  j e t  f ue l ,  a r e  an t i c i pa t e d  t o  p r op e l  t h e  m ar ke t  g r o w t h .
Look i ng  f o r w ard ,  I M A RC G ro up  expe c t s  t he  m ark e t  va l u e  t o  rea ch  US$  1 , 0 17 . 7  M i l l i on  by  203 2 ,  exh i b i t i ng  a  CAG R 
o f  7 . 8% d ur i n g  t h e  f o recas t  per i od  ( 202 4 - 20 32 ) .
V i ew  Repo r t  T O C,  F i g ures  and  T ab l e s :  h t t ps : / / w w w . i mar cgrou p . com / e l ec t r o l yze r - ma rke t
Breakup by Product:
• Alkal ine Electrolyzer
• PEM Electrolyzer
• Sol id Oxide Electrolyzer
 
Breakup by Capacity:
Report • Less than 500 kW
• 500 kW to 2 MW
Segmentation • Above 2 MW
Breakup by Application:
• Power Generat ion
• Transportat ion
• Industry Energy
• Industry Feedstock
• Bui ld ing Heat and Power
• Others
Breakup by Region:
• North America
Report 
• Asia-Pacifi c
Segmentation • Europe
• Latin America
• Middle East and Afr ica
• Air Liquide S.A.
• Air Products and Chemicals Inc.
• Asahi  Kasei  Corporation
• Cummins Inc.
Competitive 
• ITM Power plc
Landscape • Linde plc
with Key • McPhy Energy S.A.
• Nel ASA
Players
• Plug Power Inc.
• Siemens AG
• Titanium Tantalum Products Limited
• Toshiba Corporat ion
How has the global electrolyzer market performed 
so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities 
in the global electrolyzer market?
What is the impact of each driver, restraint, and 
Key opportunity on the global electrolyzer market?
Questions What are the key regional markets?
Answered in 
Which countries represent the most attractive 
the Report electrolyzer market?
What is the breakup of the market based on the 
product?
Which is the most attractive product in the 
electrolyzer market?
What is the breakup of the market based on the 
capacity?
Which is the most attractive capacity in the 
electrolyzer market?
What is the breakup of the market based on the 
Key application?
Which is the most attractive application in the 
Questions electrolyzer market?
What is the competitive structure of the global 
Answered in electrolyzer market?
the Report Who are the key players/companies in the global electrolyzer market?
1     P r e f a c e
2     S c o p e  a n d  M e t h o d o l o g y
    2 . 1     O b j e c t i v e s  o f  t h e  S t u d y
    2 . 2     S t a k e h o l d e r s
    2 . 3     D a t a  S o u r c e s
        2 . 3 . 1     P r i m a r y  S o u r c e s
        2 . 3 . 2     S e c o n d a r y  S o u r c e s
    2 . 4     M a r k e t  E s t i m a t i o n
        2 . 4 . 1     B o t t o m - U p  A p p r o a c h
Table of         2 . 4 . 2     T o p - D o w n  A p p r o a c h    2 . 5     F o r e c a s t i n g  M e t h o d o l o g y
3     E x e c u t i v e  S u m m a r y
4     I n t r o d u c t i o n
    4 . 1     O v e r v i e w
Contents     4 . 2     K e y  I n d u s t r y  T r e n d s5     G l o b a l  E l e c t r o l y z e r  M a r k e t
    5 . 1     M a r k e t  O v e r v i e w
    5 . 2     M a r k e t  P e r f o r m a n c e
    5 . 3     I m p a c t  o f  C O V I D - 1 9
    5 . 4     M a r k e t  F o r e c a s t
6      M a r k e t  B r e a k u p  b y  P r o d u c t
    6 . 1     A l k a l i n e  E l e c t r o l y z e r
        6 . 1 . 1  M a r k e t  T r e n d s
        6 . 1 . 2  M a r k e t  F o r e c a s t
    6 . 2     P E M  E l e c t r o l y z e r
        6 . 2 . 1  M a r k e t  T r e n d s
        6 . 2 . 2  M a r k e t  F o r e c a s t
    6 . 3     S o l i d  O x i d e  E l e c t r o l y z e r
        6 . 3 . 1  M a r k e t  T r e n d s
        6 . 3 . 2  M a r k e t  F o r e c a s t
7    M a r k e t  B r e a k u p  b y  C a p a c i t y
       
    7 . 1     L e s s  t h a n  5 0 0  k W
        7 . 1 . 1  M a r k e t  T r e n d s
        7 . 1 . 2  M a r k e t  F o r e c a s t
    7 . 2     5 0 0  k W  t o  2  M W
        7 . 2 . 1  M a r k e t  T r e n d s
        7 . 2 . 2  M a r k e t  F o r e c a s t
    7 . 3     A b o v e  2  M W
        7 . 3 . 1  M a r k e t  T r e n d s
        7 . 3 . 2  M a r k e t  F o r e c a s t
8    M a r k e t  B r e a k u p  b y  A p p l i c a t i o n
    8 . 1     P o w e r  G e n e r a t i o n
Table of         8 . 1 . 1  M a r k e t  T r e n d s        8 . 1 . 2  M a r k e t  F o r e c a s t
    8 . 2     T r a n s p o r t a t i o n
        8 . 2 . 1  M a r k e t  T r e n d s
Contents         8 . 2 . 2  M a r k e t  F o r e c a s t    8 . 3     I n d u s t r y  E n e r g y
        8 . 3 . 1  M a r k e t  T r e n d s
        8 . 3 . 2  M a r k e t  F o r e c a s t
    8 . 4     I n d u s t r y  F e e d s t o c k
        8 . 4 . 1  M a r k e t  T r e n d s
        8 . 4 . 2  M a r k e t  F o r e c a s t
    8 . 5     B u i l d i n g  H e a t  a n d  P o w e r
        8 . 5 . 1  M a r k e t  T r e n d s
        8 . 5 . 2  M a r k e t  F o r e c a s t
    8 . 6     O t h e r s
        8 . 6 . 1  M a r k e t  T r e n d s
        8 . 6 . 2  M a r k e t  F o r e c a s t  
   
F o r  m o r e  i n f o r m a t i o n ,  v i s i t :  
ht t ps : / /w ww. i ma rc gro up . c o m /e lec t ro l yz e r-ma rke t / t o c
Disclaimer
© 2023  IMARC Al l  R ights  Reserved 
Th is  Pub l i ca t ion  and  a l l  i t ’ s  con ten ts  un less  o therw ise  men t i oned  a re  copy r i gh ted  in  the  name o f  
I n t e rna t i ona l  Marke t  Ana lys i s  Research  and  Consu l t ing  ( IMARC) .  No  pa r t  o f  t h i s  pub l i ca t ion  may  be  
rep roduced ,  repackaged ,  red i s t r i bu ted  o r  res o ld  i n  who le  o r  i n  any  pa r t .  The  pub l i ca t ion  may  a l so  
no t  be  used  i n  any  f o rm o r  by  and means  g raph i c  e lec t ron ic  o r  mechan ic a l ,  i nc lud ing  pho tocopy ing ,  
reco rd ing ,  t ap ing  o r  by  i n fo rmat i on  s to rage  o r  re t r ieva l ,  o r  by  any  o the r  f o rm,  w i t hou t  the  exp ress  
c ons en t  o f  I n t e rna t iona l  Marke t  Ana lys i s  Research  and  Consu l t i ng  ( IMARC) .
Disc la imer :  Al l  con ten ts  and  da ta  o f  t h i s  pub l i c a t i on ,  i nc lud ing  fo recas t s ,  da ta  ana lys i s  and  op in ion  
have  been  based  on  in f o rmat ion  and  sources  be l ieved  to  be  accu ra te  and  re l iab le  a t  t he  t ime  o f  
pub l i sh ing .  In t e rna t i ona l  Ma rke t  Ana l ys is  Research  and  Consu l t ing  makes  no  rep resen ta t ion  o f  
war ran t y  o f  any  k ind  as  to  t he  acc u racy  o r  comp le teness  o f  any  I n fo rmat i on  p rov ided .  IMARC 
accep ts  no  l i ab i l i t y  wha tsoever  f o r  any  los s  o r  damage  resu l t i ng  f rom op in ion ,  e r ro rs  o r  
i naccu rac ies  i f  any  f ound  th is  pub l i ca t ion .
IMARC,  IMARC Group  and  G loba l  Therapy  I ns igh t  Ser i es  a re  reg is t e red  t rademarks  o f  I n te rna t iona l  
Marke t  Ana lys i s  Research  and  Consu l t ing .  A l l  o the r  t rademarks  used  i n  th i s  pub l i ca t i on  a re  
reg i s te red  t rademarks  o f  t he i r  r espec t i ve  compan ies .
Contact Us
Visit us at :
https://www.imarcgroup.com
TELEPHONE: +1-631-791-1145 
E-MAIL: [email protected]