Green Hydrogen Market Growth Spurs Electrolyzer Manufacturing

Researched by Industrial Info Resources (Sugar Land, Texas)--As the need for developing the green hydrogen ecosystem continues, there are sizable opportunities coming up for manufacturers of electrolyzers. According to the Hydrogen Council's "Hydrogen Insights 2022" report, there has been an 80% increase in installed electrolyzers globally during the last year, and that is expected to further scale up. Electrolyzer design capacities are constantly increasing, with recent projects seeing nameplate capacities touching as high as 500 megawatts (MW), far removed from previous projects which did not exceed 15 to 25 megawatts.

Industrial Info is currently tracking 39 active capital-spending electrolyzer-related projects across the globe, worth US$6.29 billion. A majority of this spending is out of Europe (US$4.36 billion across 19 projects). By country, most of the spending is in Denmark, with projects worth US$3 billion--which is about 50% of the total spending. Other investments are centered in countries like the U.S, Germany, France, India and Italy, totaling up to US$2.7 billion.

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Haldor Topsoe A S (Denmark), the biggest investor, is working on two projects with a total investment value of about US$3 billion. The company is building a 500-MW grassroot electrolyzer manufacturing facility in Copenhagen, Denmark. The project is under construction and is expected to start operations by the third quarter of 2024. The next biggest investors are Nel Hydrogen Electrolyzers (Norway) and Hyperion Companies Incorporated (Columbus), with investments totaling up to US$847 million.

About 37% of the total projects are already under construction, 47% are in their planning phase, and the remaining 16% of the projects are being engineered. Most of the projects are expected to reach completion between the years 2024 and 2026.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).