INCREASING DEMAND FOR FUEL CELL-BASED VEHICLES WILL POSITIVELY IMPACT OF THE EUROPE, US & CHINA ELECTROLYSER MARKET AT A CAGR OF 20.15% DURING THE FORECAST PERIOD 2023 TO 2030

The Electrolyser market is estimated to register a CAGR of 20.15% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the Europe, US & China Electrolyser market— Siemens, H-Tec Systems Gmbh, Enapter, Hystar, Plug Power Inc, Cummins Inc, Dana Limited, Elringklinger Ag

Market Highlights

The Europe, US & China Electrolyzer market was valued at USD 1,260.4 million in 2022 and is expected to reach USD 5,122.7 million by 2030.

Growing consumer demand for automobiles powered by hydrogen fuel cells has emerged as one of the market's main drivers. One of the main drivers of the market's growth has been a relative decrease in reliance on conventional fuels. People are moving from gasoline-powered automobiles to fuel cell vehicles, which is assisting the industry in recording significant income over the course of the term. Hydrogen fuel is a common fuel in fuel cell technology. This is a major factor propelling the growth of the Europe, US & China market for hydrogen generation.

Fuel cell electric cars are an essential component of the low-carbon future and are crucial to meeting the world's carbon reduction goals. The Europe, US & China automobile manufacturers' substantial technological expenditures in the development of fuel cell electric cars are expected to propel the hydrogen fuel cell market. It is anticipated that most top automakers would have introduced fuel cell electric vehicles in the area by 2023, showcasing the practical use of this technology. Several automakers, including Hyundai, Toyota, Honda, Daimler, and BMW, have begun working on fuel cell electric vehicles (FCEVs) that use hydrogen fuel cells. These fuel cells produce heat and water vapor, making them a completely zero-emission locomotive technology. Opportunities for hydrogen fuel cells have been opened by this, which also generates.

Rising demand in hydrogen fuel cells because of its advantages as well as government regulations and programs aimed at reducing carbon emissions. Growing government regulations aimed at cutting carbon emissions will present hydrogen fuel cells with several chances. There is a strong need for fuel-efficient automobiles that don't produce any hazardous gasses since hydrogen fuel cells release byproducts like heat and water vapor. The market is expanding because of the impact of moving from gasoline to a hydrogen fuel cell. Benefits of the hydrogen fuel cell include lower emissions and better efficiency when compared to gasoline.

Another major driver of the industry is the rising need for hydrogen. The potential of hydrogen as a clean, adaptable energy source to decarbonize several industries, including power production, transportation, and industrial, is gaining traction. They are necessary to produce hydrogen, particularly green hydrogen, which is produced by electrolysis with the help of renewable energy sources. Manufacturers are facing a large market opportunity due to the growing need for hydrogen as a fuel for fuel cells, a feedstock for industrial operations, and a medium for storing renewable energy. The growing interest in hydrogen as a sustainable energy solution is driving investments in technologies and contributing to the expansion of the Europe, US & China Electrolyzer market.

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Segment Analysis

The Europe, US & China Electrolyser market has been segmented based on Product Type, Component, End Use, and Country.

The Europe, US & China Electrolyser market segmentation, Based on this Product Type, the Europe, US & China electrolyzer market has been classified into Proton Exchange Membrane (PEM) Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer, and Anion Exchange Membrane (AEM). Among these, the Proton Exchange Membrane (PEM) Electrolyzer segment is the second largest segment in the Europe, US & China electrolyzer market; with an expected CAGR of 20.61% during the forecast period. The proton exchange membrane (PEM) Electrolyzer is an advanced water electrolysis technology. It operates by passing an electric current through water, splitting it into hydrogen and oxygen. The PEM electrolyzer employs a solid polymer electrolyte membrane, facilitating the selective transport of protons, ensuring high efficiency and purity in hydrogen production. This technology is valuable for clean energy End Uses, as it enables on-site hydrogen generation for fuel cells, offering a versatile and eco-friendly solution for energy storage and transportation.

Based on the End Use, the Europe, US & China electrolyzer market has been classified into Chemical/Refining Industry, Electronics, Energy, Transport, Metal Production & Fabrication, Pharma & Biotech, Food & Beverages, and others. The Energy segment dominated the Europe, US & China electrolyzer market; with an expected CAGR of 20.50% during the forecast period. Since, hydrogen serves as a clean fuel for various sectors, including transportation and industry. This process contributes to the transition to renewable energy sources, mitigating climate change. As a versatile and efficient technology, electrolyzers play a crucial role in advancing the global shift towards cleaner and more sustainable energy solutions, fostering a greener future for humanity.

Regional Analysis

By Region, the Electrolyser market is segmented into Europe, US and China. The Europe Electrolyser market holds the considerable market share and is also forecasted to hold the largest share during the forecast period. The Governments are also stepping up efforts to encourage strategic demonstration of critical hydrogen technologies, with a slew of new initiatives in the works. To assist research and innovation in hydrogen technologies in Europe, the Clean Hydrogen Partnership (a public-private collaboration) was founded in November 2021 as a successor to the Fuel Cell and Hydrogen Joint Undertaking. The US Bipartisan Infrastructure Act has also provided considerable support for R&D and demonstration, including USD 1.0 billion for clean electrolysis R&D and USD 0.5 billion for clean hydrogen manufacturing and recycling over a five-year period.

Key Findings of the Study

• The Europe, US & China Electrolyser market is expected to reach USD 5,122.7 million by 2030, at a CAGR of 20.15% during the forecast period.


• The China region accounted for the fastest-growing global market.


• Based on Product type, Alkaline Electrolyzer segment was attributed to holding the largest market in 2022.


• Based on End use, the Energy segment was attributed to holding the largest market in 2022.


• Siemens, H-Tec Systems Gmbh, Enapter, Hystar, Plug Power Inc, Cummins Inc, Dana Limited, Elringklinger AG are the key market players.