Power Supply Equipment Market for Water Electrolysis Analysis upto 2032

Market Research Report

A quick peek into the report

1.1   Industry Outlook
1.1.1   Trends: Current and Future
1.1.1.1   Rising Interest in Green Hydrogen as a Clean Energy Source
1.1.1.2   Advancements in Power Electronics
1.1.2   Supply Chain Analysis
1.1.3   Ecosystem of Power Supply Equipment Market for Water Electrolysis
1.1.3.1   Consortiums and Associations
1.1.3.2   Regulatory/Certification Bodies
1.1.3.3   Government Programs
1.1.3.4   Programs by Research Institutions and Universities
1.1.4   Total Addressable Market for Hydrogen & Serviceable Market for Electrolyzer, by 2050
1.1.5   Key Strategies Adopted Across Globe: Sustainable Hydrogen
1.1.6   Recent and Upcoming Key Green Hydrogen Projects (2020-2024)
1.1.7   Impact of COVID-19 on the Power Supply Equipment Market for Water Electrolysis
1.2   Snapshot of Water Electrolysis Market
1.2.1   Leading Countries in the Water Electrolysis Market
1.2.2   Leading Companies in the Water Electrolysis Market
1.2.3   Water Electrolysis Market Projections
1.3   Snapshot of Green Hydrogen Market
1.3.1   Leading Countries in the Green Hydrogen Market
1.3.2   Leading Companies in the Green Hydrogen Market
1.3.3   Green Hydrogen Market Projections
1.4   Business Dynamics
1.4.1   Business Drivers
1.4.1.1   Shift toward Renewable Energy Integration
1.4.1.2   Government Support for Renewable Hydrogen Production
1.4.2   Business Challenges
1.4.2.1   Expensive Hydrogen Technology
1.4.2.2   High Energy Losses during the Electrolysis Process
1.4.3   Business Strategies
1.4.4   Product Developments
1.4.5   Market Developments
1.4.6   Corporate Strategies
1.4.7   Mergers and Acquisitions
1.4.8   Partnerships and Joint Ventures
1.4.9   Business Opportunities
1.4.9.1   Advancements in Electrolysis Technology
1.4.9.2   Lucrative Demand for Water Electrolysis from End-User Industries
1.5   Start-Up Landscape
1.5.1   Key Start-Ups in the Ecosystem

2.1   Global Power Supply Equipment Market for Water Electrolysis (Applications and Specifications)
2.1.1   Global Power Supply Equipment Market for Water Electrolysis (by Application)
2.1.1.1   Alkaline Electrolyzer
2.1.1.2   Proton Exchange Membrane (PEM) Electrolyzer
2.1.1.3   Solid Oxide Electrolytic Cell (SOEC) Electrolyzer
2.1.1.4   Anion Exchange Membrane (AEM) Electrolyzers
2.2   Demand Analysis of Global Power Supply Equipment Market for Water Electrolysis (by Application), Value Data

3.1   Global Power Supply Equipment Market for Water Electrolysis (Products and Specifications)
3.1.1   Global Power Supply Equipment Market for Water Electrolysis (by Equipment Type)
3.1.1.1   Rectifier
3.1.1.1.1   Thyristor Rectifier
3.1.1.1.2   IGBT Rectifier
3.1.1.1.3   Others
3.1.1.2   Transformer
3.1.1.3   Others
3.2   Demand Analysis of Global Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
3.3   Product Benchmarking: Growth Rate – Market Share Matrix, By Equipment Type, 2022
3.4   Patent Analysis
3.4.1   Patent Analysis (by Status)
3.4.1.1   Patent Analysis (by Organization)
3.5   Global Level: Average Pricing Analysis, Power Electronics, 2022-2032

4.1   North America
4.1.1   Market
4.1.1.1   Key Producers and Suppliers in North America
4.1.1.2   Business Drivers
4.1.1.3   Business Challenges
4.1.2   Application
4.1.2.1   North America Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.1.3   Product
4.1.3.1   North America Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.1.4   North America (by Country)
4.1.4.1   U.S.
4.1.4.1.1   Market
4.1.4.1.1.1   Buyer Attributes
4.1.4.1.1.2   Key Producers and Suppliers in the U.S.
4.1.4.1.1.3   Regulatory Landscape
4.1.4.1.1.4   Business Drivers
4.1.4.1.1.5   Business Challenges
4.1.4.1.2   Application
4.1.4.1.2.1   U.S. Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.1.4.1.3   Product
4.1.4.1.3.1   U.S. Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.1.4.2   Canada
4.1.4.2.1   Market
4.1.4.2.1.1   Buyer Attributes
4.1.4.2.1.2   Key Producers and Suppliers in Canada
4.1.4.2.1.3   Regulatory Landscape
4.1.4.2.1.4   Business Drivers
4.1.4.2.1.5   Business Challenges
4.1.4.2.2   Application
4.1.4.2.2.1   Canada Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.1.4.2.3   Product
4.1.4.2.3.1   Canada Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.1.4.3   Mexico
4.1.4.3.1   Market
4.1.4.3.1.1   Buyer Attributes
4.1.4.3.1.2   Key Producers and Suppliers in Mexico
4.1.4.3.1.3   Regulatory Landscape
4.1.4.3.1.4   Business Drivers
4.1.4.3.1.5   Business Challenges
4.1.4.3.2   Application
4.1.4.3.2.1   Mexico Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.1.4.3.3   Product
4.1.4.3.3.1   Mexico Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.2   Europe
4.2.1   Market
4.2.1.1   Key Producers and Suppliers in Europe
4.2.1.2   Business Drivers
4.2.1.3   Business Challenges
4.2.2   Application
4.2.2.1   Europe Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.2.3   Product
4.2.3.1   Europe Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.2.4   Europe (by Country)
4.2.4.1   Germany
4.2.4.1.1   Market
4.2.4.1.1.1   Buyer Attributes
4.2.4.1.1.2   Key Producers and Suppliers in Germany
4.2.4.1.1.3   Regulatory Landscape
4.2.4.1.1.4   Business Drivers
4.2.4.1.1.5   Business Challenges
4.2.4.1.2   Application
4.2.4.1.2.1   Germany Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.2.4.1.3   Products
4.2.4.1.3.1   Germany Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.2.4.2   France
4.2.4.2.1   Market
4.2.4.2.1.1   Buyer Attribute
4.2.4.2.1.2   Key Producers and Suppliers in France
4.2.4.2.1.3   Regulatory Landscape
4.2.4.2.1.4   Business Drivers
4.2.4.2.1.5   Business Challenges
4.2.4.2.2   Application
4.2.4.2.2.1   France Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.2.4.2.3   Product
4.2.4.2.3.1   France Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.2.4.3   Netherlands
4.2.4.3.1   Market
4.2.4.3.1.1   Buyer Attribute
4.2.4.3.1.2   Key Producers and Suppliers in the Netherlands
4.2.4.3.1.3   Regulatory Landscape
4.2.4.3.1.4   Business Drivers
4.2.4.3.1.5   Business Challenges
4.2.4.3.2   Application
4.2.4.3.2.1   Netherlands Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.2.4.3.3   Product
4.2.4.3.3.1   Netherlands Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.2.4.4   Spain
4.2.4.4.1   Market
4.2.4.4.1.1   Buyer Attribute
4.2.4.4.1.2   Key Producers and Suppliers in Spain
4.2.4.4.1.3   Regulatory Landscape
4.2.4.4.1.4   Business Drivers
4.2.4.4.1.5   Business Challenges
4.2.4.4.2   Application
4.2.4.4.2.1   Spain Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.2.4.4.3   Product
4.2.4.4.3.1   Spain Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.2.4.5   Rest-of-Europe
4.2.4.5.1   Market
4.2.4.5.1.1   Buyer Attribute
4.2.4.5.1.2   Key Producers and Suppliers in Rest-of-Europe
4.2.4.5.1.3   Business Drivers
4.2.4.5.1.4   Business Challenges
4.2.4.5.2   Application
4.2.4.5.2.1   Rest-of-Europe Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.2.4.5.3   Product
4.2.4.5.3.1   Rest-of-Europe Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.3   U.K.
4.3.1   Market
4.3.1.1   Buyer Attributes
4.3.1.2   Key Producers and Suppliers in the U.K.
4.3.1.3   Regulatory Landscape
4.3.1.4   Business Drivers
4.3.1.5   Business Challenges
4.3.2   Application
4.3.2.1   U.K. Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.3.3   Product
4.3.3.1   U.K. Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.4   China
4.4.1   Market
4.4.1.1   Buyer Attributes
4.4.1.2   Key Producers and Suppliers in China
4.4.1.3   Regulatory Landscape
4.4.1.4   Business Drivers
4.4.1.5   Business Challenges
4.4.2   Application
4.4.2.1   China Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.4.3   Product
4.4.3.1   China Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.5   Asia-Pacific and Japan
4.5.1   Markets
4.5.1.1   Key Producers and Suppliers in Asia-Pacific and Japan
4.5.1.2   Business Drivers
4.5.1.3   Business Challenges
4.5.2   Application
4.5.2.1   Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.5.3   Product
4.5.3.1   Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.5.4   Asia-Pacific and Japan (by Country)
4.5.4.1   Japan
4.5.4.1.1   Markets
4.5.4.1.1.1   Buyer Attributes
4.5.4.1.1.2   Key Producers and Suppliers in Japan
4.5.4.1.1.3   Regulatory Landscape
4.5.4.1.1.4   Business Drivers
4.5.4.1.1.5   Business Challenges
4.5.4.1.2   Application
4.5.4.1.2.1   Japan Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.5.4.1.3   Product
4.5.4.1.3.1   Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.5.4.2   South Korea
4.5.4.2.1   Market
4.5.4.2.1.1   Buyer Attributes
4.5.4.2.1.2   Key Producers and Suppliers in South Korea
4.5.4.2.1.3   Regulatory Landscape
4.5.4.2.1.4   Business Drivers
4.5.4.2.1.5   Business Challenges
4.5.4.2.2   Application
4.5.4.2.2.1   South Korea Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.5.4.2.3   Product
4.5.4.2.3.1   South Korea Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.5.4.3   India
4.5.4.3.1   Markets
4.5.4.3.1.1   Buyer Attributes
4.5.4.3.1.2   Key Producers and Suppliers in India
4.5.4.3.1.3   Regulatory Landscape
4.5.4.3.1.4   Business Drivers
4.5.4.3.1.5   Business Challenges
4.5.4.3.2   Application
4.5.4.3.2.1   India Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.5.4.3.3   Product
4.5.4.3.3.1   India Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.5.4.4   Australia
4.5.4.4.1   Markets
4.5.4.4.1.1   Buyer Attributes
4.5.4.4.1.2   Key Producers and Suppliers in Australia
4.5.4.4.1.3   Regulatory Landscape
4.5.4.4.1.4   Business Drivers
4.5.4.4.1.5   Business Challenges
4.5.4.4.2   Application
4.5.4.4.2.1   Australia Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.5.4.4.3   Product
4.5.4.4.3.1   Australia Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.5.4.5   Rest-of-Asia-Pacific and Japan
4.5.4.5.1   Market
4.5.4.5.1.1   Buyer Attribute
4.5.4.5.1.2   Key Producers and Suppliers in Rest-of-Asia-Pacific and Japan
4.5.4.5.1.3   Business Drivers
4.5.4.5.1.4   Business Challenges
4.5.4.5.2   Application
4.5.4.5.2.1   Rest-of-Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.5.4.5.3   Product
4.5.4.5.3.1   Rest-of-Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.6   Rest-of-the-World
4.6.1   Market
4.6.1.1   Key Producers and Suppliers in Rest-of-the-World
4.6.1.2   Business Drivers
4.6.1.3   Business Challenges
4.6.2   Application
4.6.2.1   Rest-of-the-World Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.6.3   Product
4.6.3.1   Rest-of-the-World Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.6.4   Rest-of-the-World (by Country)
4.6.4.1   South America
4.6.4.1.1   Market
4.6.4.1.1.1   Buyer Attributes
4.6.4.1.1.2   Key Producers and Suppliers in South America
4.6.4.1.1.3   Business Drivers
4.6.4.1.1.4   Business Challenges
4.6.4.1.2   Application
4.6.4.1.2.1   South America Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.6.4.1.3   Product
4.6.4.1.3.1   South America Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
4.6.4.2   Middle East and Africa
4.6.4.2.1   Market
4.6.4.2.1.1   Buyer Attributes
4.6.4.2.1.2   Key Producers and Suppliers in the Middle East and Africa
4.6.4.2.1.3   Business Drivers
4.6.4.2.1.4   Business Challenges
4.6.4.2.2   Application
4.6.4.2.2.1   Middle East and Africa Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
4.6.4.2.3   Product
4.6.4.2.3.1   Middle East and Africa Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data

5.1   Competitive Benchmarking
5.1.1   Competitive Position Matrix
5.1.2   Product Matrix for Key Companies, Equipment Type
5.1.3   Market Share Analysis of Key Companies, 2022
5.2   Company Profiles
5.2.1   General Electric
5.2.1.1   Company Overview
5.2.1.1.1   Role of General Electric in the Power Supply Equipment Market for Water Electrolysis
5.2.1.1.2   Product Portfolio
5.2.1.1.3   Production Sites
5.2.1.2   R&D Analysis
5.2.1.3   Analyst View
5.2.2   Sensata Technologies, Inc.
5.2.2.1   Company Overview
5.2.2.1.1   Role of Sensata Technologies, Inc. in the Power Supply Equipment Market for Water Electrolysis
5.2.2.1.2   Product Portfolio
5.2.2.1.3   Production Sites
5.2.2.2   Business Strategies
5.2.2.2.1   Product Development
5.2.2.3   Corporate Strategies
5.2.2.3.1   Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.2.4   R&D Analysis
5.2.2.5   Analyst View
5.2.3   AEG Power Solutions B.V.
5.2.3.1   Company Overview
5.2.3.1.1   Role of AEG Power Solutions B.V. in the Power Supply Equipment Market for Water Electrolysis
5.2.3.1.2   Product Portfolio
5.2.3.1.3   Production Sites
5.2.3.2   Corporate Strategies
5.2.3.2.1   Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.3.3   Analyst View
5.2.4   Ador Powertron Ltd
5.2.4.1   Company Overview
5.2.4.1.1   Role of Ador Powertron Ltd in the Power Supply Equipment Market for Water Electrolysis
5.2.4.1.2   Product Portfolio
5.2.4.1.3   Production Sites
5.2.4.2   Analyst View
5.2.5   Ingeteam
5.2.5.1   Company Overview
5.2.5.1.1   Role of Ingeteam in the Power Supply Equipment Market for Water Electrolysis
5.2.5.1.2   Product Portfolio
5.2.5.1.3   Production Sites
5.2.5.2   Business Strategies
5.2.5.2.1   Product Development
5.2.5.3   Corporate Strategies
5.2.5.3.1   Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.5.4   R&D Analysis
5.2.5.5   Analyst View
5.2.6   Comeca Group
5.2.6.1   Company Overview
5.2.6.1.1   Role of Comeca Group in the Power Supply Equipment Market for Water Electrolysis
5.2.6.1.2   Product Portfolio
5.2.6.1.3   Production Sites
5.2.6.2   Analyst View
5.2.7   Nidec Industrial Solutions
5.2.7.1   Company Overview
5.2.7.1.1   Role of Nidec Industrial Solutions in the Power Supply Equipment Market for Water Electrolysis
5.2.7.1.2   Product Portfolio
5.2.7.1.3   Production Sites
5.2.7.2   Business Strategies
5.2.7.2.1   Market Development
5.2.7.3   Corporate Strategies
5.2.7.3.1   Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.7.4   Analyst View
5.2.8   Danfoss Drives
5.2.8.1   Company Overview
5.2.8.1.1   Role of Danfoss Drives in the Power Supply Equipment Market for Water Electrolysis
5.2.8.1.2   Product Portfolio
5.2.8.1.3   Production Sites
5.2.8.2   Corporate Strategies
5.2.8.2.1   Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.8.3   Analyst View
5.2.9   TMEIC
5.2.9.1   Company Overview
5.2.9.1.1   Role of TMEIC in the Power Supply Equipment Market for Water Electrolysis
5.2.9.1.2   Product Portfolio
5.2.9.1.3   Production Sites
5.2.9.2   Business Strategies
5.2.9.2.1   Product Developments
5.2.9.3   Analyst View
5.2.10   Prodrive Technologies
5.2.10.1   Company Overview
5.2.10.1.1   Role of Prodrive Technologies in the Power Supply Equipment Market for Water Electrolysis
5.2.10.1.2   Product Portfolio
5.2.10.1.3   Production Sites
5.2.10.2   Analyst View
5.2.11   FRIEM SPA
5.2.11.1   Company Overview
5.2.11.1.1   Role of FRIEM SPA in the Power Supply Equipment Market for Water Electrolysis
5.2.11.1.2   Product Portfolio
5.2.11.1.3   Production Sites
5.2.11.2   Corporate Strategies
5.2.11.2.1   Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.11.3   Analyst View
5.2.12   Statcon Energiaa Pvt. Ltd.
5.2.12.1   Company Overview
5.2.12.1.1   Role of Statcon Energiaa Pvt. Ltd. in the Power Supply Equipment Market for Water Electrolysis
5.2.12.1.2   Product Portfolio
5.2.12.1.3   Production Sites
5.2.12.2   Analyst View
5.2.13   Green Power Co., Ltd.
5.2.13.1   Company Overview
5.2.13.1.1   Role of Green Power Co., Ltd. in the Power Supply Equipment Market for Water Electrolysis
5.2.13.1.2   Product Portfolio
5.2.13.1.3   Production Sites
5.2.13.2   Business Strategies
5.2.13.2.1   Product and Market Developments
5.2.13.3   Analyst View
5.2.14   ABB
5.2.14.1   Company Overview
5.2.14.1.1   Role of ABB in the Power Supply Equipment Market for Water Electrolysis
5.2.14.1.2   Product Portfolio
5.2.14.1.3   Production Sites
5.2.14.2   Corporate Strategies
5.2.14.2.1   Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.14.3   R&D Analysis
5.2.14.4   Analyst View
5.2.15   American Superconductor
5.2.15.1   Company Overview
5.2.15.1.1   Role of American Superconductor in the Power Supply Equipment Market for Water Electrolysis
5.2.15.1.2   Product Portfolio
5.2.15.1.3   Production Sites
5.2.15.2   Corporate Strategies
5.2.15.2.1   Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.15.3   Analyst View
5.2.16   KraftPowercon
5.2.16.1   Company Overview
5.2.16.1.1   Role of KraftPowercon in the Power Supply Equipment Market for Water Electrolysis
5.2.16.1.2   Product Portfolio
5.2.16.1.3   Production Sites
5.2.16.2   Analyst View
5.2.17   Mak Plus Power Systems
5.2.17.1   Company Overview
5.2.17.1.1   Role of Mak Plus Power Systems in the Power Supply Equipment Market for Water Electrolysis
5.2.17.1.2   Product Portfolio
5.2.17.1.3   Production Sites
5.2.17.2   Analyst View
5.2.18   MUNK GmbH
5.2.18.1   Company Overview
5.2.18.1.1   Role of MUNK GmbH in the Power Supply Equipment Market for Water Electrolysis
5.2.18.1.2   Product Portfolio
5.2.18.1.3   Production Sites
5.2.18.2   Analyst View
5.2.19   Liyuan Rectifier Group
5.2.19.1   Company Overview
5.2.19.1.1   Role of Liyuan Rectifier Group in the Power Supply Equipment Market for Water Electrolysis
5.2.19.1.2   Product Portfolio
5.2.19.1.3   Production Sites
5.2.19.1.4   Business Strategies
5.2.19.1.4.1   Product Developments
5.2.19.1.4.2   Market Developments
5.2.19.2   Analyst View
5.2.20   SMA Solar Technology AG
5.2.20.1   Company Overview
5.2.20.1.1   Role of SMA Solar Technology AG in the Power Supply Equipment Market for Water Electrolysis
5.2.20.1.2   Product Portfolio
5.2.20.1.3   Production Sites
5.2.20.1.4   R&D Analysis
5.2.20.2   Analyst View

Research Methodology

Table 1:   Consortiums and Associations
Table 2:   Regulatory/Certification Bodies
Table 3:   Recent and Upcoming Key Green Hydrogen Projects (2020-2024)
Table 4:   List of Hydrogen Programs by Some Major Countries
Table 5:   Key Product Developments
Table 6:   Key Market Developments (2020-2023)
Table 7:   Key Mergers and Acquisitions
Table 8:   Key Partnerships and Joint Ventures
Table 9:   Global Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 10:   Global Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 11:   Power Electronics: Global Level- Average Pricing Analysis, ($/KW), 2022-2032
Table 12:   North America Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 13:   North America Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 14:   U.S. Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 15:   U.S. Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 16:   Canada Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 17:   Canada Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 18:   Mexico Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 19:   Mexico Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 20:   Europe Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 21:   Europe Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 22:   Germany Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 23:   Germany Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 24:   France Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 25:   France Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 26:   Netherlands Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 27:   Netherlands Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 28:   Spain Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 29:   Spain Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 30:   Rest-of-Europe Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 31:   Rest-of-Europe Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 32:   U.K. Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 33:   U.K. Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 34:   China Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 35:   China Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 36:   Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 37:   Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 38:   Japan Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 39:   Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 40:   South Korea Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 41:   South Korea Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 42:   India Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 43:   India Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 44:   Australia Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 45:   Australia Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 46:   Rest-of-Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 47:   Rest-of-Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 48:   Rest-of-the-World Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 49:   Rest-of-the-World Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 50:   South America Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 51:   South America Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 52:   Middle East and Africa Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 53:   Middle East and Africa Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 54:   Product Matrix for Key Companies, Equipment Type
Table 55:   Market Share of Key Companies Analysis, 2022

Figure 1:   Global Power Supply Equipment Market for Water Electrolysis Snapshot, $Million, 2022, 2023, 2032
Figure 2:   Global Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022, 2032
Figure 3:   Global Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022, 2032
Figure 4:   Global Power Supply Equipment Market for Water Electrolysis (by Region), $Million, 2022, 2032
Figure 5:   Power Supply Equipment Market for Water Electrolysis Coverage
Figure 6:   Supply Chain Analysis of the Power Supply Equipment Market for Water Electrolysis
Figure 7:   Total Addressable Market for Hydrogen & Serviceable Market for Electrolyzer, by 2050
Figure 8:   Green Hydrogen Commitment from Nations Worldwide
Figure 9:   Water Electrolysis Market Snapshot
Figure 10:   Green Hydrogen Market Snapshot
Figure 11:   Global Onshore Wind Capacity Addition (GW)
Figure 12:   Product Benchmarking (by Equipment Type), 2022
Figure 13:   Total Year-Wise Patents Filed for Global Power Supply Equipment Market for Water Electrolysis, January 2020-December 2022
Figure 14:   Patent Analysis (by Status), January 2020-December 2022
Figure 15:   Patent Analysis (by Organization), January 2020-December 2022
Figure 16:   General Electric: R&D Expenditure
Figure 17:   Sensata Technologies, Inc.: R&D Expenditure
Figure 18:   Ingeteam: R&D Expenditure
Figure 19:   ABB: R&D Expenditure
Figure 20:   SMA Solar Technology AG: R&D Expenditure
Figure 21:   Research Methodology
Figure 22:   Top-Down and Bottom-Up Approach
Figure 23:   Power Supply Equipment Market for Water Electrolysis Influencing Factors
Figure 24:   Assumptions and Limitations

Market Report Coverage

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Of the top players profiled in the report, the private companies operating in the global power supply equipment market accounted for around 60% of the market share in 2022, while the public companies operating in the market captured around 40% of the market share.

Key Companies Profiled:

Private Companies
•   AEG Power Solutions B.V.
•   Ingeteam
•   Comeca Group
•   TMEIC
•   Prodrive Technologies
•   FRIEM SPA
•   Statcon Energiaa Pvt. Ltd.
•   Green Power Co., Ltd.
•   KraftPowercon
•   Mak Plus Power Systems
•   MUNK GmbH
•   Liyuan Rectifier Group

Public Companies
•   General Electric
•   Sensata Technologies, Inc.
•   Ador Powertron Ltd
•   Nidec Industrial Solutions
•   Danfoss Drives
•   ABB
•   American Superconductor
•   SMA Solar Technology AG

Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the power supply equipment used in the water electrolysis process, including rectifiers, transformers, and others. Moreover, the study provides the reader with a detailed understanding of the power supply equipment market for water electrolysis by different applications (alkaline electrolyzer, proton exchange membrane (PEM) electrolyzer, solid oxide electrolytic cell (SOEC) electrolyzer, and anion exchange membrane (AEM) electrolyzer).

Growth/Marketing Strategy: The power supply equipment market for water electrolysis has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include partnerships, agreements, and collaborations.

Competitive Strategy: The key players in the power supply equipment market for water electrolysis analyzed and profiled in the study involve power supply equipment manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the global power supply equipment market for water electrolysis has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry and Technology Overview

Power Supply Equipment Market for Water Electrolysis Overview

The power supply equipment market for water electrolysis was valued at $331.5 million in 2022, and it is expected to grow at a CAGR of 33.27% and reach $5,714.8 million by 2032. The growth in the power supply equipment market for water electrolysis is expected to be driven by supportive government initiatives, strict net zero targets, and rising demand for hydrogen fuel cell vehicles, green ammonia, green methanol, and other applications.

Introduction of Power Supply Equipment for Water Electrolysis

Power supply equipment for water electrolysis refers to the devices or systems that provide electrical energy for the process of water electrolysis. The power supply equipment is responsible for delivering the necessary electrical energy to drive the electrolysis reaction. Water electrolysis is the process of converting electrical energy into chemical energy in the form of hydrogen and oxygen, and an electrolyzer is a system that breaks water into hydrogen and oxygen with the help of electricity. As per the International Energy Agency (IEA), water electrolysis-based hydrogen production has the potential to prevent the release of around 830 million tons of CO2 annually. The rising demand for green hydrogen is a significant driver for the growth of the water electrolysis market. This, in turn, creates a demand for power supply equipment that can efficiently support the electrolysis process.

Market Introduction

The power supply equipment market for water electrolysis has experienced significant growth in recent years due to increasing government support through policies and incentives, technological advancements, and increasing investments in renewable energy infrastructure. Furthermore, the advancement of water electrolysis technologies, particularly PEM electrolysis, has led to the need for specialized power supply equipment that can meet the unique requirements of these systems. The power supply equipment market for water electrolysis is currently small, but it is projected to experience substantial growth in the near future. This growth is anticipated due to ongoing technological advancements in power electronics, renewable energy integration, and energy storage technologies. Additionally, the increasing recognition of the imperative to transition toward green hydrogen further contributes to this anticipated growth. The market has attracted significant interest and investment as companies strive to develop and establish their position in the power supply equipment segment specifically tailored for water electrolysis.

Figure: Global Power Supply Equipment Market for Water Electrolysis Snapshot, $Million, 2022, 2023, 2032

Industrial Impact

The power supply equipment market for water electrolysis is driven by several factors, such as growing interest in hydrogen as a clean energy source and the need for energy storage solutions. Various companies and startups are actively developing and commercializing water electrolysis systems, aiming to improve efficiency, reduce costs, and increase scalability. The growth and development of the water electrolysis market have a direct impact on the demand and innovation within the power supply equipment market.

The key players operating in the power supply equipment market for water electrolysis include ABB, General Electric, Nidec Industrial Solutions, Danfoss Drives, SMA Solar Technology AG, and American Superconductor. These companies are focusing on strategic partnerships, collaborations, and acquisitions to enhance their product offerings and expand their market presence. In conclusion, the market for power supply equipment for water electrolysis is growing and evolving significantly because of factors such as the rising focus on reducing greenhouse gas emissions and transitioning to cleaner energy sources, supportive regulations, subsidies, and targets for renewable energy and hydrogen production.

Market Segmentation:

Segmentation 1: by Application
•   Alkaline Electrolyzer
•   Proton Exchange Membrane (PEM) Electrolyzer
•   Solid Oxide Electrolytic Cell (SOEC) Electrolyzer
•   Anion Exchange Membrane (AEM) Electrolyzer

Alkaline Electrolyzer to Dominate the Power Supply Equipment Market for Water Electrolysis (by Application)

Alkaline electrolyzer held the largest share in the power supply equipment market for water electrolysis in 2022. Alkaline electrolyzers have a long-standing history in industrial applications and were the primary electrolyzer technology until the emergence of proton exchange membrane (PEM) electrolyzers in the 1970s. One of the advantages of alkaline electrolyzers is that they do not require the use of precious metals as catalysts, making them a cost-effective solution with a longer operational lifespan compared to PEM electrolyzers.

Segmentation 2: by Equipment Type
•   Rectifier
o   Thyristor Rectifier
o   IGBT Rectifier
o   Others
•   Transformer
•   Others

Rectifier Segment to Grow at a Significant Growth Rate in the Power Supply Equipment Market for Water Electrolysis (by Equipment Type)

In the power supply equipment market for water electrolysis, rectifier is expected to grow at a significant rate during the forecast period (2023-2032). In a water electrolysis plant, both rectifiers and transformers play important roles; however, their dominance varies depending on the specific requirements and configuration of the electrolysis plant. Also, if the energy is sourced from the grid, additional transformers may not be necessary. However, when renewable energy is utilized, transformers are commonly employed to adapt the voltage for optimal operation of the electrolyzer cells. IGBT rectifier is growing at a significant rate during the forecast period owing to benefits such as fast response times, high efficiency, and reduced energy losses.

Segmentation 3: by Region
•   North America: U.S., Canada, and Mexico
•   Europe: Germany, France, Spain, Netherlands, and Rest-of-Europe
•   U.K.
•   China
•   Asia-Pacific and Japan: Japan, South Korea, India, Australia, and Rest-of-Asia-Pacific and Japan
•   Rest-of-the-World: South America and the Middle East and Africa

The Europe region is expected to dominate the power supply equipment market for water electrolysis, owing to the presence of several leading companies, such as Nidec Industrial Solutions, Ingeteam, Prodrive Technologies, and KraftPowercon in the region, highly developed renewable energy market, and growing sales of fuel cell vehicles. Europe was an early adopter of water electrolysis technology for hydrogen production, with European countries leading the way. In 2020, Europe accounted for approximately 40% of the global installed capacity of water electrolyzers, according to the International Energy Agency (IEA). Recognizing the potential of electrolyzers, the European Union has incorporated electrolyzer capacity into its overall hydrogen capacity plans. This strategic approach is expected to drive significant growth, with a projected electrolyzer installed capacity of 75 gigawatts (GW) in the region by 2030.

Recent Developments in the Power Supply Equipment Market for Water Electrolysis

•   In March 2023, Ingeteam introduced a new rectifier solution specifically designed for electrolyzers, known commercially as the INGECON H2 FSK E12000. This innovative product is tailored for large-scale green hydrogen production facilities. The initial units are scheduled to be delivered in September 2023, with projects in Germany and Spain being the first recipients of this technology.
•   In March 2023, Nidec Industrial Solutions unveiled two significant projects focused on green hydrogen production and storage in the southwestern region of the U.S. In the first project, the power supply unit, capable of generating 5.6 MW of energy, is expected to be housed within a 40-foot container. In the second project, Nidec Industrial Solutions assumes a crucial role in the storage of liquid hydrogen. The company is responsible for supplying the electrical component of the order, which includes 14 electric motors. These motors would be coupled with 14 compressors forming the mechanical part of the system.
•   In January 2023, TMEIC introduced an innovative power electronics solution designed specifically for contemporary electrolyzer technologies, enabling a high-current DC power supply. The Type-1 system incorporates a 24-pulse diode front-end rectifier to efficiently convert AC to DC. Similarly, the Type-2 system utilizes an insulated gate bipolar transistor (IGBT) front-end converter for AC to DC conversion.
•   In May 2022, Liyuan Rectifier Group announced to develop an electrolysis rectifier system for the proton exchange membrane electrolysis system.

Demand – Drivers, Challenges, and Opportunities

Market Demand Drivers: Shift toward Renewable Energy Integration

Renewable energy sources are gaining attention in the market to adhere to a more sustainable future. Green hydrogen produced from renewable energy is increasingly being utilized for various applications such as oil and gas, industrial feedstock, and as a fuel in energy generation industries. Several renewable energy sources will be integrated with technical and material technologies to save and store energy in the coming years. Green hydrogen is produced from renewable energy sources, such as solar, hydro, and wind.

According to International Renewable Energy Agency (IRENA), annual capacity addition for onshore wind power is expected to increase more than threefold by 2030 and more than tenfold by 2050 relative to 2018 levels. The shift toward renewable energy transition is expected to have a direct impact on driving the adoption of water electrolysis for hydrogen production.

Furthermore, sustainable production and the use of carbon-free products on a priority basis could attenuate the problem of rising carbon emissions. Consumers prefer green hydrogen over hydrogen produced from conventional methods, as it promotes the decarbonization of power and mobility industries. Several end-use industries are moving toward green hydrogen due to its zero-carbon emission ability. Numerous interesting studies have been conducted on green hydrogen manufacturing technology and its use. Thus, consumer awareness widens the scope for sustainable products, which is expected to drive the growth of the global power supply equipment market for water electrolysis during the forecast period.

Market Challenges: High Energy Losses during the Electrolysis Process

Green hydrogen offers a decarbonization solution to the industrial, chemical, and transportation sectors; however, there is a considerable amount of energy loss during green hydrogen production at every point in the supply chain. According to the World Economic Forum, more than 30% of the energy used in hydrogen production is lost during the electrolysis process. The water electrolysis technology is majorly used for hydrogen production, and alkaline water electrolyzers offer a range of 50-78% energy efficiency, while the proton exchange membrane water electrolyzers offer an energy efficiency between 50-80%.

The World Economic Forum (WEF) further states that liquefying or converting hydrogen to other carriers, such as ammonia, results in a further 13-25% energy loss, and transporting hydrogen requires additional energy inputs that are typically equal to 10-12% of the hydrogen's energy.

Also, the use of hydrogen in fuel cells results in an additional 40-50% energy loss. Therefore, the net energy loss in hydrogen production using water electrolysis technology and in its further application processes is a major challenge for hydrogen production using water electrolysis technology. This is expected to restrict the growth of power supply equipment during the forecast period.

Market Opportunities: Advancements in Electrolysis Technology

Green Hydrogen has been widely considered an ideal sustainable energy based on the advantage of high conversion efficiency, abundant reserves, zero pollution, and high energy density. It is crucial to develop a more cost-effective green hydrogen production/water electrolysis system to achieve the goal of reducing the energy consumption of water splitting. The proton exchange membrane electrolyzer technology holds core material technology and uses expensive noble metal-based catalysts and perfluorocarbon-based proton exchange membranes, which results in high costs of system manufacturing. In order to address the limitations associated with conventional technology, a research team in Korea has recently made advancements in the development of a next-generation water electrolysis system. This breakthrough technology offers significant improvements in durability and performance, along with a substantial reduction in the cost of producing green hydrogen energy. The Korea Institute of Science and Technology has announced this project, which is the result of joint research conducted by Dr. So Young Lee's team at the Center for Hydrogen and Fuel Cell Research and Prof. Young Moo Lee from the Department of Energy Engineering at Hanyang University. The team successfully developed a membrane electrode assembly for anion exchange membrane water electrolyzers, which holds promise for replacing the expensive existing PEM technology.

Moreover, an improved understanding of the nanoscale processes occurring in SOECs is expected to result in performance and lifetime gains on the cell, stack, and system levels, which in turn enable more sizable and highly efficient SOEC plants. In Germany, the proportion of intermittent renewable energy sources in the electricity supply has exceeded 30%, while in Denmark, intermittent sources account for nearly 50% of the electricity supply. As more countries experience this shift, there will be a growing demand for energy conversion technologies that are highly efficient, such as SOECs. These cells present an opportunity to reduce the costs associated with future renewable energy systems through enhanced conversion efficiency, enabling greater integration of renewables into the energy mix. Consequently, this creates opportunities for power supply equipment suppliers.

Moreover, a recent advancement in water-splitting technology known as hybrid water electrolysis has emerged. This innovative system leverages the thermodynamically more favorable electrochemical oxidation of organic molecules instead of traditional oxygen evolution reactions (OER). By coupling this approach with hydrogen evolution reactions (HER), the hybrid water electrolysis system enhances the efficiency of water electrolysis and promotes more efficient production of hydrogen. This strategy avoids the generation of unnecessary O2 and provides the production of value-added chemicals with large current density at low input voltages, thereby improving energy conversion efficiency. With such development in electrolysis, the demand for power supply equipment is also anticipated to gain traction during the forecast period.

Analyst View

According to Sachin Singh, Lead Analyst, BIS Research, “The power supply equipment market for water electrolysis is likely to grow multi-fold in the coming years during the forecast period, owing to the rapidly growing demand for green solutions in various sectors. Furthermore, the demand for hydrogen fuel cells is undergoing rapid growth in various industries, including power and energy generation, transportation/mobility, and manufacturing. This increasing demand for energy presents significant potential for the growth of water electrolysis technology. This trend creates promising opportunities for the adoption and advancement of water electrolysis technology and power supply equipment as a means to meet the growing need for green hydrogen in fuel cell applications. However, the market confronts certain constraints, including high costs, infrastructural needs, and regulatory obstacles. The market is expected to witness significant growth in the coming years, and the key players in the market are focused on strategic partnerships and collaborations to expand their market presence and enhance their product offerings.”

Power Supply Equipment Market for Water Electrolysis - A Global and Regional Analysis

Focus on Application, Equipment Type, and Region - Analysis and Forecast, 2023-2032

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Some Faq's

Frequently Asked Questions

Power supply equipment for water electrolysis refers to the devices and systems responsible for providing the electrical power required to drive the electrolysis process. The equipment converts the available electrical energy from the grid or other sources into the appropriate voltage and current levels needed to facilitate the electrolysis of water into hydrogen and oxygen gases. The equipment ensures the efficient and reliable operation of the electrolysis system by delivering the necessary electrical power while maintaining control over voltage, current, and other parameters.

The key business opportunities in the power supply equipment market for water electrolysis are lucrative demand for water electrolysis from end-user industries such as power and energy generation, transportation/mobility, manufacturing, and others and advancement in electrolysis technologies.

The power supply equipment market for water electrolysis is poised to grow over time, compelling companies to come up with collaborative strategies to sustain themselves in the intensely competitive market.

A new entrant can focus on partnering with existing power supply equipment for water electrolysis manufacturers. Also, start-ups can focus on raising funds, launching new innovative products, and expanding their sales and distribution networks.

•   A dedicated section focusing on the current and futuristic trends adopted by the key players operating in the power supply equipment market for water electrolysis
•   Projections of the total addressable market for hydrogen and serviceable market for electrolyzers by 2050
•   List of key strategies adopted across the globe related to green hydrogen and water electrolysis
•   Recent and upcoming key green hydrogen projects (2020-2024)
•   Snapshot of the water electrolysis market and its leading companies and market projections
•   Snapshot of the green hydrogen market and its leading companies and market projections
•   Extensive competitive benchmarking of the companies operating in the ecosystem offering a holistic view of the power supply equipment market for water electrolysis landscape
•   Qualitative analysis of the power supply equipment market for water electrolysis at the region and country level and granularity by application and product segments
•   Patent analysis
•   Average global pricing analysis

Power supply equipment manufacturers, electrolyzers manufacturers, and green hydrogen manufacturers, among others, can buy this report.

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2 Application

3 Product

4 Region

5 Markets - Competitive Benchmarking & Company Profiles

6 Research Methodology

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Market Report Coverage

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Industry and Technology Overview

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Power Supply Equipment Market for Water Electrolysis - A Global and Regional Analysis

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