Four different electrolyzer technology types are the subject of a new Guidehouse Insights study, which examines system and component price projections for the years 2022-2031 for four different regions around the world.
An increasing number of potential end-use applications, lower renewable electricity prices, a global push to decarbonize energy production and consumption, and a desire to help stabilize the power grid amid broader efforts to electrify and the variability of the grid are all driving renewed interest in water electrolysis for hydrogen production. In 2031, global electrolyzer capacity is expected to rise from 0.5 GW to 84.7 GW, at a compound annual growth rate of 78%, according to a new Guidehouse Insights report.
“Alkaline and polymer electrolyte membrane electrolyzers are the only two technologies with noteworthy commercial presence in the global market,” says Peter Marrin, senior research analyst with Guidehouse Insights. “These two types will likely continue to dominate most regional markets for the next 5 years.”
Green hydrogen’s full potential is still hampered by a number of issues. Electrolyzer parts and components are still technologically immature, logistically precarious, and prohibitively expensive in the hydrogen production supply and value chains. Other issues include land and water use, underdeveloped government policies and incentives, and the need for additional transportation and storage infrastructure.
Modeling and Learning Curves for Electrolytic Cells provides price estimates for four electrolyzer technologies: alkaline, polymer membrane (PEM), solid oxide cells (SOEC), and anion exchange membranes (AEM). These four electrolyzer types, as well as capacity and revenue projections for major global regions for 2022-2031, are the focus of this report.
