WATER ELECTROLYSIS MACHINE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In July 2023, ITM Power plc, a leading manufacturer of large-scale electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, announced that its newly established subsidiary ITM Power Germany GmbH would formally inaugurate operations in October 2023 in Linden, a town north of Frankfurt. This expansion further strengthens ITM Power's position as a top producer of electrolysers for active projects in Germany and wider Europe today, as well as for future projects currently in the bidding stage.
• In April 2023, Siemens Energy AG, a leading global energy technology company specializing in sustainable energy solutions, announced that production of electrolysis modules (stacks) would commence at its multi-gigawatt electrolyzer facility in Berlin. The facility is set to ramp up to a production capacity of three gigawatts by 2025. Siemens Energy, in collaboration with Air Liquide, a prominent industrial gas supplier, will utilize these stacks to serve a diverse range of clients and meet the rapidly growing demand for green hydrogen solutions.
• In November 2022, Asahi Kasei Corp., a leading Japanese technology company specializing in advanced materials and chemicals, began constructing a pilot test facility for hydrogen generation using alkaline water electrolysis at its Kawasaki Works. To meet the anticipated global demand for hydrogen, Asahi Kasei recognizes the need to significantly scale up electrolysis equipment. As a solution, the company plans to introduce a prototype plant consisting of multiple electrolyzer modules to conduct various trial operations, including testing responsiveness to power fluctuations and assessing long-term durability.