Guidehouse Insights Anticipates Global Capacity for Water Electrolysis Technologies Will Grow at a Compound Annual Growth Rate of 62% Through 2031
Market barriers include regulatory, technical, and economical challenges coupled with the lack of hydrogen infrastructure
BOULDER, Colo., April 6, 2022 /PRNewswire/ — A new report from Guidehouse Insights explores the growth and market penetration of water electrolysis technologies that use renewable energy to produce hydrogen and estimates capacity and revenue growth for these electrolyzers globally.
Hydrogen is an important topic in the energy transition. When produced using renewable energy, hydrogen has the potential to provide large-scale decarbonization solutions in sectors that have been hard to abate. The reduction in costs for producing green hydrogen is propelling the hydrogen economy, a trend that will most likely continue until 2031. According to a new report from Guidehouse Insights, the global capacity for water electrolysis technologies is expected to reach approximately 104.6 GW by 2031, growing at a compound annual growth rate (CAGR) of 62.6%.
“Market growth for electrolyzers is expected to be driven by factors such as decreasing capital costs, declining feedstock costs, and an overall push for decarbonization,” says Shantanu Chakraborty, senior research analyst with Guidehouse Insights. “Additionally, policies, such as subsidies, limits on fossil fuels, and carbon taxes, can drive the market even further.”
While alternative methods for producing hydrogen through water electrolysis are becoming more desirable and cost-effective, they still face various barriers that stem from regulatory, technical, and economical challenges coupled with the lack of hydrogen infrastructure, according to the report.
The report, Market Data: Electrolyzers, explores the growth and market penetration of water electrolysis technologies that use renewable energy to produce hydrogen. Technologies covered in this report include alkaline electrolyzers (AELs), proton exchange membrane (PEM) electrolyzers, solid oxide electrolysis cells (SOECs), and anion exchange membrane (AEM) electrolyzers. The goal of this report is to estimate capacity and revenue growth for these electrolyzers globally. These estimates are segmented geographically across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. For each region, in-depth analysis on the distribution of electrolyzer capacity by type and their associated revenue is provided. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 12,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Market Data: Electrolyzers, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
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