Green hydrogen electrolyser components market worth NZ$52.3b by 2034

Substantial growth in the green hydrogen electrolyser component sector is forecast by IDTechEx.

It’s new report Materials for Green Hydrogen Production 2024-2034: Technologies, Players, Forecasts predicts a market value of NZ$52.3 billion (US$31.7b) by 2034.

This expansion is attributed to the growing green hydrogen industry, where electrolysers are indispensable, says IDTechEx, adding its report delves into the current and prospective materials and components utilised in the four main water electrolyser technologies – alkaline water electrolyser (AWE), proton exchange membrane electrolyser (PEMEL), anion exchange membrane electrolyser (AEMEL), and solid oxide electrolyser (SOEC).

 It further offers stack costs broken down by component for the AWE, PEMEL and SOEC stacks. In addition, granular 10-year market forecasts, quantifying material and component demand in tonnes, square meters, and US$ million annually are presented for these three electrolyser stacks.

 The report suggests global hydrogen activities have intensified, with a unified drive from governments, industries, and corporations to transition to a hydrogen economy for decarbonising sectors that are difficult to electrify directly.

Green hydrogen has emerged as the frontrunner solution, propelled by governmental ambitions to establish substantial gigawatt (GW) scale electrolyser manufacturing and green hydrogen production capacities by the end of this decade, says IDTechEx, adding it’s a strategic move in various transportation sectors such as shipping.

“Advancements in this area (green hydrogen electrolysers) are pivotal, aiming to boost electrolyser efficiency, extend longevity, and mitigate reliance on scarce materials.”

Meanwhile, IDTechEx is hosting a 30-minute webinar on December 6 called Electrifying Vehicles Across Land, Sea, and Air.

It says that while electrification of cars is well under way, multiple other vehicle segments need to electrify to meet emissions targets or reduce cost of ownership.

Click here to register and visit www.IDTechEx.com/webinars for other information.