Electrolyzer production to explode by 2031

Global electrolyzer production is expected to rise tremendously, according to the Guidehouse Insights research. The announced annual production capacity of moreover 100 GW reaffirms the sector’s momentum, notably in Europe.

The yearly output capacity of hydrogen electrolyzers should absolutely expand (+8,000 percent) from 1.3 GW at the end of this year to 104.6 GW in 2031, exceeding prior predictions that reported building beginnings. By 2031, electrolyzers will be installed with a total capacity of 47 GW.

A figure that falls well short of the 180 GW per year that the International Energy Agency (IEA) projects would be generated by the end of the decade, and even further short of the 850 GW that the IEA predicts will be required to meet the net-zero emissions goals by 2050. This, on the other hand, attests to the genuine structure of a sector.

The decrease in the number of investments, the drop in the cost of raw materials, a strong trend toward decarbonization of all human activities, and a strong development of state policies supporting the hydrogen industry are among the reasons fueling the market.

So far, a total of 14-gigawatt electrolyzers are under development. Those of Thyssenkrupp is among the most important (5 GW, Germany),

ITM Power (5 GW in the UK), Plug Power (1 GW in the US, 1 GW in South Korea, and 2 GW in Australia), John Cockerill (1 GW in France; 2 GW in India), and McPhy Power (1 GW in the US, 1 GW in South Korea, and 2 GW in Australia) ( France, 1GW).

Production of electrolyzers: main projects in Europe and worldwide