Global Electrolysis Hydrogen Generation Market Growth, Size, Trends Analysis 2034
Global Electrolysis Hydrogen Generation Market Growth, Size, Trends Analysis – By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jun-2025 | Report ID: POAE2579 | Pages: 1 - 244 | Formats*: |
| Category : Power & Energy | |||
Electrolysis Hydrogen Generation Market Introduction and Overview
According to SPER Market Research, the Global Electrolysis Hydrogen Generation Market is estimated to reach USD 28.99 billion by 2034 with a CAGR of 7.49%.
The report includes an in-depth analysis of the Global Electrolysis Hydrogen Generation Market, including market size and trends, product mix, Applications, and supplier analysis. The electrolysis hydrogen generation industry is rapidly expanding as industries seek clean and sustainable energy sources. Electrolysis is a fundamental technology for manufacturing green hydrogen in which water is converted into hydrogen and oxygen using electricity. The procedure provides an environmentally benign alternative to traditional hydrogen generation processes, especially when driven by renewable energy sources. This industry is developing due to global decarbonisation ambitions, increased expenditures in hydrogen infrastructure, and rising demand for renewable energy. The electrolysis hydrogen generation market is expected to grow across many sectors, including energy, chemicals, and industrial production.
By Application Insights
The electrolysis hydrogen generation market is divided into Petroleum Refining, Chemical, Transportation, Power Generation, Industry Energy, Others. The transportation application dominates the global market. The use of hydrogen as a fuel in the transportation industry, combined with growing interest in hydrogen-powered vehicles such as trucks and freight transport, will drive product adoption. Furthermore, increasing investments in hydrogen fuel cell technology by various car manufacturers, in conjunction with the implementation of rigorous emission reduction targets for the transportation sector, would increase product demand.
By Region Insights
Europe dominates the electrolysis hydrogen generation business. The ongoing implementation of regulations and requirements, large-scale investments by commercial entities, and funding initiatives by significant government bodies to facilitate the energy transition will influence business patterns. Continuous project development across multiple economies, together with the implementation of hydrogen targets at the state level, will accelerate business trends in the anticipated timeframe.
Market Competitive Landscape
Some of the leading companies are Air Liquide, Cummins Inc., McPhy Energy S.A., Nel ASA, Plug Power Inc., Siemens Energy. These companies are implementing strategic initiatives improve technological capabilities, streamline operations, attract finance, and help to build a strong and sustainable hydrogen ecosystem. The combined efforts of industry participants and stakeholders are critical to realizing electrolysis' full potential as a vital contributor to the transition to a hydrogen-based economy.
Recent Developments:
October 2023: Air Liquide opened a new gas production platform in Bécancour, Canada, that produces hydrogen, argon, oxygen, and nitrogen. The company will use its PEM electrolyzers to produce these industrial gases. The investment, made as part of the company's ADVANCE plan to decrease carbon emissions by 33% by 2035, aided the expansion of its footprint in the region.
September 2023: Siemens Energy was awarded a contract to supply 12 electrolyzers based on PEM technology to Air Liquide's factory in Normandy, France, as part of the Normand'Hy project. The facility will generate 28,000 tons of hydrogen per year for the industry and mobility sectors. As a result, the company will help to attain net zero emissions goals while also demonstrating its experience in the market.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Application |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe Companies Covered Air Liquide, Cummins Inc., McPhy Energy S.A., Nel ASA, Plug Power Inc., Siemens Energy |
Key Topics Covered in the Report
- Global Electrolysis Hydrogen Generation Market Size (FY’2021-FY’2034)
- Overview of Global Electrolysis Hydrogen Generation Market
- Segmentation of Global Electrolysis Hydrogen Generation Market By Application (Petroleum Refining, Chemical, Transportation, Power Generation, Industry Energy, Others)
- Statistical Snap of Global Electrolysis Hydrogen Generation Market
- Expansion Analysis of Global Electrolysis Hydrogen Generation Market
- Problems and Obstacles in Global Electrolysis Hydrogen Generation Market
- Competitive Landscape in the Global Electrolysis Hydrogen Generation Market
- Details on Current Investment in Global Electrolysis Hydrogen Generation Market
- Competitive Analysis of Global Electrolysis Hydrogen Generation Market
- Prominent Players in the Global Electrolysis Hydrogen Generation Market
- SWOT Analysis of Global Electrolysis Hydrogen Generation Market
- Global Electrolysis Hydrogen Generation Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1.Introduction
1.1.Scope of the report1.2.Market segment analysis
2.Research Methodology
2.1.Research data source2.1.1.Secondary Data2.1.2.Primary Data2.1.3.SPER’s internal database2.1.4.Premium insight from KOL’s2.2.Market size estimation2.2.1.Top-down and Bottom-up approach2.3.Data triangulation
3.Executive Summary
4.Market Dynamics4.1.Driver, Restraint, Opportunity and Challenges analysis4.1.1.Drivers4.1.2.Restraints4.1.3.Opportunities4.1.4.Challenges
5.Market variable and outlook
5.1.SWOT Analysis5.1.1.Strengths5.1.2.Weaknesses5.1.3.Opportunities5.1.4.Threats5.2.PESTEL Analysis5.2.1.Political Landscape5.2.2.Economic Landscape5.2.3.Social Landscape5.2.4.Technological Landscape5.2.5.Environmental Landscape5.2.6.Legal Landscape5.3.PORTER’s Five Forces5.3.1.Bargaining power of suppliers5.3.2.Bargaining power of buyers5.3.3.Threat of Substitute5.3.4.Threat of new entrant5.3.5.Competitive rivalry5.4.Heat Map Analysis
6.Competitive Landscape
6.1.Global Electrolysis Hydrogen Generation Market Manufacturing Base Distribution, Sales Area, Product Type
6.2.Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Electrolysis Hydrogen Generation Market
7.Global Electrolysis Hydrogen Generation Market, By Application 2021-2034 (USD Million)
7.1. Petroleum Refining7.2. Chemical7.3. Transportation7.4. Power Generation7.5. Industry Energy7.6. Others
8.Global Electrolysis Hydrogen Generation Market, 2021-2034 (USD Million)
8.1.Global Electrolysis Hydrogen Generation Market Size and Market Share
9.Global Electrolysis Hydrogen Generation Market, By Region, 2021-2034 (USD Million)
9.1.Asia-Pacific9.1.1.Australia9.1.2.China9.1.3.India9.1.4.Japan9.1.5.South Korea9.1.6.Rest of Asia-Pacific9.2.Europe9.2.1.France9.2.2.Germany9.2.3.Italy9.2.4.Spain9.2.5.United Kingdom9.2.6.Rest of Europe9.3.Middle East and Africa9.3.1.Kingdom of Saudi Arabia9.3.2.United Arab Emirates9.3.3.Qatar9.3.4.South Africa9.3.5.Egypt9.3.6.Morocco9.3.7.Nigeria9.3.8.Rest of Middle-East and Africa9.4.North America9.4.1.Canada9.4.2.Mexico9.4.3.United States9.5.Latin America9.5.1.Argentina9.5.2.Brazil9.5.3.Rest of Latin America
10.Company Profile
10.1.Air Liquide10.1.1.Company details10.1.2.Financial outlook10.1.3.Product summary10.1.4.Recent developments10.2.Cummins Inc.10.2.1.Company details10.2.2.Financial outlook10.2.3.Product summary10.2.4.Recent developments10.3.McPhy Energy S.A.10.3.1.Company details10.3.2.Financial outlook10.3.3.Product summary10.3.4.Recent developments10.4.Nel ASA10.4.1.Company details10.4.2.Financial outlook10.4.3.Product summary10.4.4.Recent developments10.5.Plug Power Inc.10.5.1.Company details10.5.2.Financial outlook10.5.3.Product summary10.5.4.Recent developments10.6.Siemens Energy10.6.1.Company details10.6.2.Financial outlook10.6.3.Product summary10.6.4.Recent developments10.7.Others
11.Conclusion
12.List of Abbreviations
13.Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
"
The report includes an in-depth analysis of the Global Electrolysis Hydrogen Generation Market, including market size and trends, product mix, Applications, and supplier analysis"
the Electrolysis Hydrogen Generation Market is projected to reach USD 28.99 by 2034, growing at a CAGR of 7.49% during the forecast period.
the Electrolysis Hydrogen Generation Market size from 2025. The Market is expected to reach USD 28.99 by 2034, at a CAGR of 7.49% during the forecast period.
the Electrolysis Hydrogen Generation Market CAGR of 7.49% during the forecast period.
You can get the sample pages by clicking the link - Click Here
the Electrolysis Hydrogen Generation Market size is USD 28.99 from 2025 to 2034.
the Electrolysis Hydrogen Generation Market covered By Application
The North America is anticipated to have the highest Market share in the Electrolysis Hydrogen Generation Market .
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North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
Companies Covered Air Liquide, Cummins Inc., McPhy Energy S.A., Nel ASA, Plug Power Inc., Siemens Energy"
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