Global Electrolyzer Capacity Will Reach 14 Terawatts in 15-Year Timeframe, Says Information Trends
15-year forecast of electrolyzer capacity growth
PEM electrolyzers will lead the market, followed by alkaline electrolyzers, while SOEC and AEM electrolyzers will witness rapid growth.
The study, "Global Market for Electrolyzers," says that virtually all major global markets are experiencing phenomenal growth in the deployment and use of electrolyzers. The bulk of the new hydrogen produced will be green, and it will be generated using renewable energy sources.
The study says that Asia-Pacific, spearheaded by China, is seeing the highest deployments of electrolyzers. The second biggest market for electrolyzers is Europe, followed by North America.
The study says that there are four popular electrolyzer technologies, of which alkaline is currently in the lead. However, by 2039, PEM electrolyzers will have overtaken alkaline electrolyzers in terms of market share.
The forecast period will also see significant growth in SOEC and AEM electrolyzers, with SOEC electrolyzers having the edge. SOEC offers high potential for low-cost hydrogen production, and AEM is a promising technology that is coming out of the development phase.
China’s LONGi Hydrogen, a manufacturer of alkaline electrolyzers, leads the world in market share. Among the top 15 manufacturers, seven are based in Europe, five are based in the U.S., and three are based in China.
The Information Trends study dismissed speculation that there is being an overbuild of electrolyzer capacity, saying that electrolyzers are needed for green hydrogen production to meet the upcoming phenomenal rise in demand.
About Information Trends
Naqi Jaffery
Information Trends
+1 703-424-9400
naqi@informationtrends.com
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