Europe Electrolyzer Market size is projected to show tremendous growth between 2021 and 2030 owing to increasing demand for hydrogen as raw material across the chemical and ongoing expansion of small-scale industries. Growing R&D activities to generate green hydrogen along with an escalating government expenditure for the development & design of hydrogen energy programs will positively stimulate the product penetration. Rapid industrialization across emerging economies in line with the rising commercialization of H2 to cater to the energy-efficiency targets will complement the market landscape.
Europe Market, By Product
The alkaline electrolyzers are projected to gain significant momentum till 2030 due to utilization of the alkaline water electrolysis for generating a flexible and carbon-free sustainable energy system and rising energy demand from consumers. The product provides key benefits including enhanced technologies, long-lasting stability, and minimized installation & operating costs. In addition, shifting customer focus toward reducing carbon footprints along with the introduction of government policies to promote clean energy sources will favor the market expansion.
Europe Market, By Capacity
The > 500 kW - 2 MW capacity segment will witness significant growth during the forecast period led by rising industrialization along with continuing electrification programs across rural areas & off-grid. These units offer key advantages including compact & modular design, reduced cost, and modular & compact design. Rising applicability across the metal, glass, food & beverages, chemical, and transportation industries will encourage product deployment.
Europe Market, By Application
The power generation application segment is set to dominate market share through 2030 impelled by the extensive integration of renewable resources and escalating demand from industrial sector for on-site setup of electrolyzer. The escalating demand for energy imports along with growing infrastructural fundings across the commercial sector will accelerate the market growth. Expansion and upgrading of refineries to abide by the clean energy goals coupled with surging investments for the evolution of technologies to desulfurize petroleum products will fuel the industry demand.
Europe Market, By Country
The UK electrolyzer market is predicted to register substantial CAGR from 2021 to 2030 due to rising electricity demand that has diverted the industry’s focus on alternative energy solutions, thus establishing a comprehensive platform for hydrogen-based power generation. The rising awareness of clean energy, government-sponsored monetary support, and the requirement to fulfill the mismatch between demand & supply will propel the industry size. The flourishing industrial sector including petrochemicals, glass purification, refining, and fertilizers will boost the regional market potential.
Competitive Industry Landscape
Key players operating in the market include Air Liquide, Siemens, McPhy Energy S.A., Idroenergy, John Cockerill, Nel ASA, KOBELCO ECO-SOLUTIONS, Acta spa, Next Hydrogen, Air Liquide, Kobelco Eco-solutions, ErreDue spa, elogen, Acta S.p.A. (Enapter), Sunfire GmbH, Cummins, and Linde. Manufacturers are continuously launching new products and developing improved technologies to meet the competition prevailing in the industry.