Electrolyzers companies

Key Electrolyzers Market Players:

Here is a list of key players operating in the global market:

• Nel ASA (Norway)
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
• ITM Power PLC (United Kingdom)
• McPhy Energy S.A. (France)
• Siemens Energy AG (Germany)
• ThyssenKrupp Nucera AG (Germany)
• John Cockerill (Belgium)
• Linde plc (United Kingdom)
• Air Liquide S.A. (France)
• Bloom Energy Corporation (U.S.)
• Cummins Inc. (U.S.)
• Plug Power Inc. (U.S.)
• Tianjin Mainland Hydrogen Equipment Co., Ltd. (China)
• Suzhou Jingli Hydrogen Production Equipment Co., Ltd. (China)
• PERIC Hydrogen Technologies Co., Ltd. (China)
• Ohmium International, Inc. (U.S.)
• Hyster-Yale Group (U.S.)
• Korea Hydro & Nuclear Power (KHNP) (South Korea)
• Teledyne Energy Systems, Inc. (U.S.)
• Enapter S.p.A. (Italy)
• H2B2 Electrolysis Technologies, Inc. (Spain)

The worldwide electrolyzers market is extremely dynamic and characterized by a mix of established industrial gas firms, emerging manufacturers from Asia, and specialized technology pure plays. The market’s competitive landscape is readily defined by the need for technological advancement and gigawatt-scale manufacturing capacity. Moreover, notable tactical approaches, such as de-risking supply chains and forming standard alliances to gain a project pipeline, have been observed with deals between companies, such as ITM and Linde. Besides, in February 2024, Toyota Motor Corporation and Chiyoda Corporation successfully agreed to jointly create a large-scale electrolysis system and initiate a strategic partnership for signing a basic deal on cooperation. The objective is to contribute to readily gaining governmental targets for launching electrolysis equipment in both Japan and other nations, which is positively uplifting the market.

Corporate Landscape of the Electrolyzers Market:

• Nel ASA is regarded as an international pioneer and one of the largest pure-play electrolyzer manufacturers, well-known for its strong alkaline and PEM electrolysis technology. The organization is strongly upscaling its automated production capacity to gigawatt-scale to maintain its leadership in the expanding market. Besides, as per its 2024 annual report, the organization unveiled the 500MW PEM production line, which can produce 10 times stacks at a 30% lower unit expense.
• ITM Power PLC significantly specializes in PEM electrolyzers by focusing on offering flexible solutions for renewable energy integration as well as refueling applications. The firm has successfully established one of the world’s largest dedicated PEM electrolyzer factories to cater to the need for rapid-response and high-output systems.
• McPhy Energy S.A. provides both PEM electrolyzer and alkaline technologies, with a robust focus on refueling stations and integrated hydrogen production. The organization is considered a notable Europe-based player, proactively extending its industrial-scale manufacturing capabilities in Germany and France. Based on these, and as stated in its 2024 annual report, the organization generated €13.1 million in revenue, which has further increased to €17.1 million. Additionally, the organization’s electrolyzer business increased by over 15%, amounting to €15.8 million, which represents 99% of the overall revenue.
• Siemens Energy AG is considered an industrial powerhouse, readily leveraging its massive engineering expertise to deploy and develop multi-megawatt-scale PEM electrolyzers, frequently for large-scale Power-to-X projects and integrated energy solutions. The company’s strength remains in bundling electrolysis with its grid technology and renewable energy.
• ThyssenKrupp Nucera AG is one of the leaders in large-scale alkaline water electrolysis, leveraging decades of chlor-alkali to offer industrial-grade plants for huge green hydrogen production, especially in refining and chemical industries. The firm’s scalable and standardized modules are effectively designed for gigawatt-based projects, thereby making it a notable partner for decarbonizing heavy industry.