Electrolyzers Market

The global electrolyzers market is projected to reach USD 57.2 billion by 2030 from an estimated USD 0.5 billion in 2023, at a CAGR of 97.7% during the forecast period. The rising need for the decarbonization of the mobility sector by using hydrogen as a green fuel is supporting the market for growth.

Due to their strong supply network, a few global and regional players hold a strong foothold in the electrolyzers market. thyssenkrupp nucera (Germany), John Cockerill (Belgium), Nel ASA (Norway), Plug Power Inc. (US), and Siemens Energy (Germany) are the market leaders in the electrolyzers market. These companies have adopted strategies such as product launches, contracts, agreements partnerships and collaborations,  acquisitions, investments and expansions to increase their market share.

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thyssenkrupp nucera is a cleantech company and a leading provider of hydrogen and chlorine technologies. thyssenkrupp nucera, formerly known as Uhde Chlorine Engineers, is a company established as a joint venture between Industrie De Nora and thyssenkrupp AG. The company primarily deals in the supply of clean energy with green hydrogen at an industrial scale. thyssenkrupp nucera offers chlor-alkali technology and alkaline water electrolysis technology to produce sustainable aviation fuel, hydrogen, chlorine, etc. The renewable hydrogen generated from electrolyzer caters to a wide area of applications such as energy, mobility, and industries. The company also offers solutions for the integration of grid-scale renewables and industrial-scale use of hydrogen and subsequent products. Furthermore, the company is involved in the engineering, procurement, and construction activities of electrochemical plants. thyssenkrupp nucera has a major geographical presence in Japan and Germany.

Plug Power Inc. is a leading alternative energy technology provider focusing on designing, developing, commercializing, and manufacturing hydrogen and fuel cell systems. The company primarily manufactures proton exchange membrane electrolyzers and fuel cell products and is focused on green hydrogen generation. Moreover, it offers fuel cell products in stationary backup power applications. Plug Power Inc. carries out its business as a single operating segment, providing commercially viable hydrogen and fuel cell product solutions. The company's products include GenDrive, GenFuel, GenCare, GenSure, GenKey, ProGen, and GenFuel Electrolyzers. GenFuel Electrolyzer is a proton exchange membrane technology-based electrolyzer. The power rating of the Genfuel Electrolyzers ranges from 1 to 10 MW. Plug Power Inc. predominantly offers products in the North American and European markets.

John Cockerill, formerly known as CMI Group specializes in designing, integrating, modernizing, and maintaining equipment across various sectors like energy, defense, steelmaking, environmental solutions, and general industry. The company maintains a strong foothold in metals, heat treatment, surface treatment, and industrial project services, offering a comprehensive range of solutions tailored to diverse industrial requirements. The company offers alkaline electrolyzers through its hydrogen division that caters to various applications such as energy, industrial and mobility. The company has a global presence in 24 countries across five continents.

Related Reports:

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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