FLAGSHIP REPORT
Electrolyser Leaderboard and Manufacturing Insights Q1 2024
The looming consolidation in landscape, cancellations/ shut-down of factories and emergence of few dominant players
USD $ 3,990
This report provides critical insights into the fast-changing landscape of Electrolyser OEMs (ELY) and how it is expected to evolve towards 2030 in terms of technology, geography, business model, concentration, etc. Further, the report investigates the manufacturing capacity & utilization trends of OEMs and provides commentary on potential demand-supply scenarios incl. whether there is really an oversupply problem.
Key Takeaways
- There are 170+ players currently active in Electrolyser landscape with 206 positions spread across different ELY technologies. Highest concentration is in Europe and China.
- Contrary to the popular belief, our findings suggest Chinese players working actively on PEM, SOEC and AEM technologies to challenge Western dominance.
- Current installed capacity is highly concentrated among top 15 players which we have classified as market Leaders and Challengers. Out of the remaining 150+ players, there are 25+ players who can emerge as leaders/ challengers in coming years
- There are seven major trends that will significantly impact the landscape towards 2030
- The operational and under-construction capacity for Electrolyser stacks currently stands at ~50 GW out of which 23 GW is with Leaders and Challengers. China accounts for nearly 50% of the capacity followed by Europe.
- Beyond the 50 GW, the electrolyser OEMs have announced ~64 GW capacity towards 2030.
- There is an industry-wide over-supply but the picture is very different at player level. The rationale: All Supply is not Equal. For example, thyssenkrupp nucera is likely running above 80% utilization (through De Nora).
Key Questions Addressed
Who are the Leaders, Challengers, Emerging Challengers and Innovators in Electrolyser OEM landscape?
- How is the landscape of 160+ companies segmented by electrolyser technology, technical maturity, geography, and business model?
- Who are the Leaders and Challengers in market based on delivered capacity and orderbook?
- Who are Emerging Challengers and Innovators based on ‘technical maturity’ and ‘ability to execute vision’?
- What are the major trends within the Electrolyser OEM landscape by concentration, geography, business model, etc.?
- How is the landscape expected to evolve towards 2030 based on the major trends?
- What is the electrolyser supply capacity today based on operational and under-construction capacity and how is it segmented by
- ELY OEMs: Leaders, Challengers, Emerging Challengers and Innovators
- By Electrolyser Technology
- By Geography
- How does the supply scenario change if we include announced capacities of OEMs by 2030?
- What is the current level of factory utilization of top 15 ELY OEMs? To what extent there is an oversupply and who is facing it?
- What is the global demand for electrolyser towards 2030 in different scenarios? How is the demand segmented by geography and by electrolyser technology?
- What are the demand-supply dynamics by electrolyser technology and geography towards 2030?
Who needs this report?
- Electrolyser OEMs: Sales battlecards, Footprint/capacity planning, Competitive intelligence on ELY technology and geography, M&A planning.
- Asset developers and EPCs: Electrolyser Category Intelligence for Sourcing Planning, Strategy and M&A Planning.
- Supply Chain Players: Big-small among Electrolyser OEMs and which ones are critical to bet on towards 2030.
- Investors: Market Intelligence for target screening and due diligence on Electrolyser OEMs.
- Policy Makers & Think-tanks: Intelligence to design effective subsidy and incentive structure.
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