The Europe Electrolyzers Market would witness market growth of 54.1% CAGR during the forecast period (2023-2030).
Recognizing the nature of the hydrogen economy, countries and companies are engaging in cross-border collaborations and partnerships. Initiatives and agreements are fostering knowledge exchange, joint research efforts, and establishing a hydrogen infrastructure. Such collaborations are instrumental in overcoming technological barriers and ensuring the widespread adoption of these devices on a larger scale.
Furthermore, the versatility of these devices lies in their ability to produce hydrogen, a clean and storable energy carrier. This hydrogen, in turn, finds application across diverse sectors, driving innovation and offering sustainable solutions to age-old challenges. One of the primary applications of these devices is in the industrial sector, where hydrogen serves as a key feedstock for various processes. Industries such as petrochemicals, steel manufacturing, and ammonia production are integrating these devices to produce hydrogen onsite. This reduces carbon emissions and enhances the overall sustainability of industrial processes.
As per the European Commission, a joint public-private initiative, the Clean Hydrogen Partnership (2021-2027), is funded by the European Commission via Horizon Europe. The Commission and key stakeholders signed a joint declaration on renewable hydrogen research and innovation on March 1, 2023. In this declaration, they pledged to increase and accelerate collaborative efforts about the research, development, demonstration, and deployment of hydrogen valleys. In addition, the European Clean Hydrogen Alliance was established in 2020 in conjunction with the EU hydrogen strategy as an element of the EU's new industrial strategy. Therefore, growing clean hydrogen initiatives in various countries of Europe will help expand the regional market.
The Germany market dominated the Europe Electrolyzers Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,956 million by 2030. The UK market is exhibiting a CAGR of 52.7% during (2023 - 2030). Additionally, The France market would experience a CAGR of 55.3% during (2023 - 2030).
Free Valuable Insights: The Global Electrolyzers Market will Hit USD 39.5 Billion by 2030, at a CAGR of 55%
Based on Capacity, the market is segmented into 500 kW to 2 MW, Less than 500 kW, and Above 2 MW. Based on Technology, the market is segmented into Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide (SOE) Electrolyzer, and Anion Exchange Membrane (AEM) Electrolyzer. Based on Application, the market is segmented into Power Generation, Industry Feedstock, Transportation, Building Heat & Power, Industry Energy, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
List of Key Companies Profiled
- Asahi Kasei Corporation
- John Cockerill S.A.
- Nel ASA
- Plug Power, Inc.
- Siemens AG
- Enapter AG (BluGreen Company Limited)
- Cummins, Inc.
- ITM Power PLC
- McPhy Energy S.A.
- Topsoe A/S
Europe Electrolyzers Market Report Segmentation
By Capacity
- 500 kW to 2 MW
- Less than 500 kW
- Above 2 MW
By Technology
- Alkaline Electrolyzer
- Proton Exchange Membrane Electrolyzer
- Solid Oxide (SOE) Electrolyzer
- Anion Exchange Membrane (AEM) Electrolyzer
By Application
- Power Generation
- Industry Feedstock
- Transportation
- Building Heat & Power
- Industry Energy
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Electrolyzers Market, by Capacity
1.4.2 Europe Electrolyzers Market, by Technology
1.4.3 Europe Electrolyzers Market, by Application
1.4.4 Europe Electrolyzers Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 Market Share Analysis, 2022
4.2 Porter Five Forces Analysis
Chapter 5. Europe Electrolyzers Market by Capacity
5.1 Europe 500 kW to 2 MW Market by Country
5.2 Europe Less than 500 kW Market by Country
5.3 Europe Above 2 MW Market by Country
Chapter 6. Europe Electrolyzers Market by Technology
6.1 Europe Alkaline Electrolyzer Market by Country
6.2 Europe Proton Exchange Membrane Electrolyzer Market by Country
6.3 Europe Solid Oxide (SOE) Electrolyzer Market by Country
6.4 Europe Anion Exchange Membrane (AEM) Electrolyzer Market by Country
Chapter 7. Europe Electrolyzers Market by Application
7.1 Europe Power Generation Market by Country
7.2 Europe Industry Feedstock Market by Country
7.3 Europe Transportation Market by Country
7.4 Europe Building Heat & Power Market by Country
7.5 Europe Industry Energy Market by Country
7.6 Europe Others Market by Country
Chapter 8. Europe Electrolyzers Market by Country
8.1 Germany Electrolyzers Market
8.1.1 Germany Electrolyzers Market by Capacity
8.1.2 Germany Electrolyzers Market by Technology
8.1.3 Germany Electrolyzers Market by Application
8.2 UK Electrolyzers Market
8.2.1 UK Electrolyzers Market by Capacity
8.2.2 UK Electrolyzers Market by Technology
8.2.3 UK Electrolyzers Market by Application
8.3 France Electrolyzers Market
8.3.1 France Electrolyzers Market by Capacity
8.3.2 France Electrolyzers Market by Technology
8.3.3 France Electrolyzers Market by Application
8.4 Russia Electrolyzers Market
8.4.1 Russia Electrolyzers Market by Capacity
8.4.2 Russia Electrolyzers Market by Technology
8.4.3 Russia Electrolyzers Market by Application
8.5 Spain Electrolyzers Market
8.5.1 Spain Electrolyzers Market by Capacity
8.5.2 Spain Electrolyzers Market by Technology
8.5.3 Spain Electrolyzers Market by Application
8.6 Italy Electrolyzers Market
8.6.1 Italy Electrolyzers Market by Capacity
8.6.2 Italy Electrolyzers Market by Technology
8.6.3 Italy Electrolyzers Market by Application
8.7 Rest of Europe Electrolyzers Market
8.7.1 Rest of Europe Electrolyzers Market by Capacity
8.7.2 Rest of Europe Electrolyzers Market by Technology
8.7.3 Rest of Europe Electrolyzers Market by Application
Chapter 9. Company Profiles
9.1 John Cockerill S.A.
9.1.1 Company Overview
9.1.2 Recent strategies and developments:
9.1.2.1 Partnerships, Collaborations, and Agreements:
9.1.2.2 Geographical Expansions:
9.1.3 SWOT Analysis
9.2 ITM Power PLC
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Regional Analysis
9.2.4 Research & Development Expenses
9.2.5 Recent strategies and developments:
9.2.5.1 Partnerships, Collaborations, and Agreements:
9.2.5.2 Product Launches and Product Expansions:
9.2.5.3 Geographical Expansions:
9.2.6 SWOT Analysis
9.3 McPhy Energy S.A.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Regional Analysis
9.3.4 Recent strategies and developments:
9.3.4.1 Partnerships, Collaborations, and Agreements:
9.4 Topsoe A/S
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Regional Analysis
9.4.4 Research & Development Expenses
9.5 Asahi Kasei Corporation
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expenses
9.5.5 Recent strategies and developments:
9.5.5.1 Partnerships, Collaborations, and Agreements:
9.5.6 SWOT Analysis
9.6 Plug Power, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Regional Analysis
9.6.4 Research & Development Expenses
9.6.5 Recent strategies and developments:
9.6.5.1 Partnerships, Collaborations, and Agreements:
9.6.5.2 Acquisition and Mergers:
9.7 Cummins, Inc.
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Regional & Segmental Analysis
9.7.4 Research & Development Expenses
9.7.5 Recent strategies and developments:
9.7.5.1 Acquisition and Mergers:
9.7.5.2 Geographical Expansions:
9.7.6 SWOT Analysis
9.8 Siemens AG
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.8.4 Research & Development Expense
9.8.5 SWOT Analysis
TABLE 1 Europe Electrolyzers Market, 2019 - 2022, USD Million
TABLE 2 Europe Electrolyzers Market, 2023 - 2030, USD Million
TABLE 3 Europe Electrolyzers Market by Capacity, 2019 - 2022, USD Million
TABLE 4 Europe Electrolyzers Market by Capacity, 2023 - 2030, USD Million
TABLE 5 Europe 500 kW to 2 MW Market by Country, 2019 - 2022, USD Million
TABLE 6 Europe 500 kW to 2 MW Market by Country, 2023 - 2030, USD Million
TABLE 7 Europe Less than 500 kW Market by Country, 2019 - 2022, USD Million
TABLE 8 Europe Less than 500 kW Market by Country, 2023 - 2030, USD Million
TABLE 9 Europe Above 2 MW Market by Country, 2019 - 2022, USD Million
TABLE 10 Europe Above 2 MW Market by Country, 2023 - 2030, USD Million
TABLE 11 Europe Electrolyzers Market by Technology, 2019 - 2022, USD Million
TABLE 12 Europe Electrolyzers Market by Technology, 2023 - 2030, USD Million
TABLE 13 Europe Alkaline Electrolyzer Market by Country, 2019 - 2022, USD Million
TABLE 14 Europe Alkaline Electrolyzer Market by Country, 2023 - 2030, USD Million
TABLE 15 Europe Proton Exchange Membrane Electrolyzer Market by Country, 2019 - 2022, USD Million
TABLE 16 Europe Proton Exchange Membrane Electrolyzer Market by Country, 2023 - 2030, USD Million
TABLE 17 Europe Solid Oxide (SOE) Electrolyzer Market by Country, 2019 - 2022, USD Million
TABLE 18 Europe Solid Oxide (SOE) Electrolyzer Market by Country, 2023 - 2030, USD Million
TABLE 19 Europe Anion Exchange Membrane (AEM) Electrolyzer Market by Country, 2019 - 2022, USD Million
TABLE 20 Europe Anion Exchange Membrane (AEM) Electrolyzer Market by Country, 2023 - 2030, USD Million
TABLE 21 Europe Electrolyzers Market by Application, 2019 - 2022, USD Million
TABLE 22 Europe Electrolyzers Market by Application, 2023 - 2030, USD Million
TABLE 23 Europe Power Generation Market by Country, 2019 - 2022, USD Million
TABLE 24 Europe Power Generation Market by Country, 2023 - 2030, USD Million
TABLE 25 Europe Industry Feedstock Market by Country, 2019 - 2022, USD Million
TABLE 26 Europe Industry Feedstock Market by Country, 2023 - 2030, USD Million
TABLE 27 Europe Transportation Market by Country, 2019 - 2022, USD Million
TABLE 28 Europe Transportation Market by Country, 2023 - 2030, USD Million
TABLE 29 Europe Building Heat & Power Market by Country, 2019 - 2022, USD Million
TABLE 30 Europe Building Heat & Power Market by Country, 2023 - 2030, USD Million
TABLE 31 Europe Industry Energy Market by Country, 2019 - 2022, USD Million
TABLE 32 Europe Industry Energy Market by Country, 2023 - 2030, USD Million
TABLE 33 Europe Others Market by Country, 2019 - 2022, USD Million
TABLE 34 Europe Others Market by Country, 2023 - 2030, USD Million
TABLE 35 Europe Electrolyzers Market by Country, 2019 - 2022, USD Million
TABLE 36 Europe Electrolyzers Market by Country, 2023 - 2030, USD Million
TABLE 37 Germany Electrolyzers Market, 2019 - 2022, USD Million
TABLE 38 Germany Electrolyzers Market, 2023 - 2030, USD Million
TABLE 39 Germany Electrolyzers Market by Capacity, 2019 - 2022, USD Million
TABLE 40 Germany Electrolyzers Market by Capacity, 2023 - 2030, USD Million
TABLE 41 Germany Electrolyzers Market by Technology, 2019 - 2022, USD Million
TABLE 42 Germany Electrolyzers Market by Technology, 2023 - 2030, USD Million
TABLE 43 Germany Electrolyzers Market by Application, 2019 - 2022, USD Million
TABLE 44 Germany Electrolyzers Market by Application, 2023 - 2030, USD Million
TABLE 45 UK Electrolyzers Market, 2019 - 2022, USD Million
TABLE 46 UK Electrolyzers Market, 2023 - 2030, USD Million
TABLE 47 UK Electrolyzers Market by Capacity, 2019 - 2022, USD Million
TABLE 48 UK Electrolyzers Market by Capacity, 2023 - 2030, USD Million
TABLE 49 UK Electrolyzers Market by Technology, 2019 - 2022, USD Million
TABLE 50 UK Electrolyzers Market by Technology, 2023 - 2030, USD Million
TABLE 51 UK Electrolyzers Market by Application, 2019 - 2022, USD Million
TABLE 52 UK Electrolyzers Market by Application, 2023 - 2030, USD Million
TABLE 53 France Electrolyzers Market, 2019 - 2022, USD Million
TABLE 54 France Electrolyzers Market, 2023 - 2030, USD Million
TABLE 55 France Electrolyzers Market by Capacity, 2019 - 2022, USD Million
TABLE 56 France Electrolyzers Market by Capacity, 2023 - 2030, USD Million
TABLE 57 France Electrolyzers Market by Technology, 2019 - 2022, USD Million
TABLE 58 France Electrolyzers Market by Technology, 2023 - 2030, USD Million
TABLE 59 France Electrolyzers Market by Application, 2019 - 2022, USD Million
TABLE 60 France Electrolyzers Market by Application, 2023 - 2030, USD Million
TABLE 61 Russia Electrolyzers Market, 2019 - 2022, USD Million
TABLE 62 Russia Electrolyzers Market, 2023 - 2030, USD Million
TABLE 63 Russia Electrolyzers Market by Capacity, 2019 - 2022, USD Million
TABLE 64 Russia Electrolyzers Market by Capacity, 2023 - 2030, USD Million
TABLE 65 Russia Electrolyzers Market by Technology, 2019 - 2022, USD Million
TABLE 66 Russia Electrolyzers Market by Technology, 2023 - 2030, USD Million
TABLE 67 Russia Electrolyzers Market by Application, 2019 - 2022, USD Million
TABLE 68 Russia Electrolyzers Market by Application, 2023 - 2030, USD Million
TABLE 69 Spain Electrolyzers Market, 2019 - 2022, USD Million
TABLE 70 Spain Electrolyzers Market, 2023 - 2030, USD Million
TABLE 71 Spain Electrolyzers Market by Capacity, 2019 - 2022, USD Million
TABLE 72 Spain Electrolyzers Market by Capacity, 2023 - 2030, USD Million
TABLE 73 Spain Electrolyzers Market by Technology, 2019 - 2022, USD Million
TABLE 74 Spain Electrolyzers Market by Technology, 2023 - 2030, USD Million
TABLE 75 Spain Electrolyzers Market by Application, 2019 - 2022, USD Million
TABLE 76 Spain Electrolyzers Market by Application, 2023 - 2030, USD Million
TABLE 77 Italy Electrolyzers Market, 2019 - 2022, USD Million
TABLE 78 Italy Electrolyzers Market, 2023 - 2030, USD Million
TABLE 79 Italy Electrolyzers Market by Capacity, 2019 - 2022, USD Million
TABLE 80 Italy Electrolyzers Market by Capacity, 2023 - 2030, USD Million
TABLE 81 Italy Electrolyzers Market by Technology, 2019 - 2022, USD Million
TABLE 82 Italy Electrolyzers Market by Technology, 2023 - 2030, USD Million
TABLE 83 Italy Electrolyzers Market by Application, 2019 - 2022, USD Million
TABLE 84 Italy Electrolyzers Market by Application, 2023 - 2030, USD Million
TABLE 85 Rest of Europe Electrolyzers Market, 2019 - 2022, USD Million
TABLE 86 Rest of Europe Electrolyzers Market, 2023 - 2030, USD Million
TABLE 87 Rest of Europe Electrolyzers Market by Capacity, 2019 - 2022, USD Million
TABLE 88 Rest of Europe Electrolyzers Market by Capacity, 2023 - 2030, USD Million
TABLE 89 Rest of Europe Electrolyzers Market by Technology, 2019 - 2022, USD Million
TABLE 90 Rest of Europe Electrolyzers Market by Technology, 2023 - 2030, USD Million
TABLE 91 Rest of Europe Electrolyzers Market by Application, 2019 - 2022, USD Million
TABLE 92 Rest of Europe Electrolyzers Market by Application, 2023 - 2030, USD Million
TABLE 93 Key Information – John Cockerill S.A.
TABLE 94 Key Information – ITM Power PLC
TABLE 95 Key Information – McPhy Energy S.A.
TABLE 96 Key Information – Topsoe A/S
TABLE 97 Key Information – Asahi Kasei Corporation
TABLE 98 Key Information – Plug Power, Inc.
TABLE 99 Key information – Cummins, Inc.
TABLE 100 Key Information – Siemens AG
List of Figures
FIG 1 Methodology for the research
FIG 2 Europe Electrolyzers Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Electrolyzers Market
FIG 4 Market Share Analysis, 2022
FIG 5 Porter’s Five Forces Analysis – Electrolyzers Market
FIG 6 Europe Electrolyzers Market share by Capacity, 2022
FIG 7 Europe Electrolyzers Market share by Capacity, 2030
FIG 8 Europe Electrolyzers Market by Capacity, 2019 - 2030, USD Million
FIG 9 Europe Electrolyzers Market share by Technology, 2022
FIG 10 Europe Electrolyzers Market share by Technology, 2030
FIG 11 Europe Electrolyzers Market by Technology, 2019 - 2030, USD Million
FIG 12 Europe Electrolyzers Market share by Application, 2022
FIG 13 Europe Electrolyzers Market share by Application, 2030
FIG 14 Europe Electrolyzers Market by Application, 2019 - 2030, USD Million
FIG 15 Europe Electrolyzers Market share by Country, 2022
FIG 16 Europe Electrolyzers Market share by Country, 2030
FIG 17 Europe Electrolyzers Market by Country, 2019 - 2030, USD Million
FIG 18 SWOT Analysis: John Cockerill S.A.
FIG 19 Recent strategies and developments: ITM Power PLC
FIG 20 SWOT Analysis: ITM Power PLC
FIG 21 SWOT Analysis: Asahi Kasei Corporation
FIG 22 Recent strategies and developments: Plug Power, Inc.
FIG 23 Recent strategies and developments: Cummins, Inc.
FIG 24 SWOT Analysis: Cummins, Inc.
FIG 25 SWOT Analysis: Siemens AG