The MENA Hydrogen Electrolyzer Market was valued at US$ 35.24 million in 2021 and it is anticipated to grow up to US$ 6,491.98 million by 2040, at a CAGR of 30.08% during the forecast period.
A hydrogen electrolyzer is an apparatus that produces hydrogen through a chemical process (electrolysis) capable of separating the hydrogen and oxygen molecules of which water is composed using electricity. Through electrolysis, the hydrogen electrolyzer system creates hydrogen gas. The oxygen left over is released into the atmosphere or can be captured or stored to supply other industrial processes or even medical gases in some cases. The hydrogen gas can either be stored as a compressed gas or liquefied since hydrogen is an energy carrier and can be used to power any hydrogen fuel cell electric end user, such as trains, buses, and trucks.
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In general, an electrolyzer contains a cathode (negative charge), an anode (positive charge), and a membrane. The system also contains pumps, vents, storage tanks, a power supply, a separator, and other components. Water electrolysis is an electrochemical reaction that takes place within the cell stacks. Electricity is applied to the anode and cathode across the membrane and causes the water to split into its component molecules, hydrogen and oxygen. Hydrogen produced in this sustainable way, without emitting carbon dioxide into the atmosphere, can be the basis for a decarbonized economy.
Market Drivers and Trends
The automotive and transportation sector is experiencing high technological advancement due to various attempts that governments make to reduce carbon emissions from vehicles. For instance, in December 2019, Volkswagen announced plans to reduce the average emissions of its new vehicles by 30% by 2025 and aim to be carbon neutral by 2050. Due to technological advancement in the automotive sector, innovative hydrogen fuel stations are rapidly developing across the MENA region.
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For instance, in August 2021, according to the article published by the Petrol Plaza, PowerTap Hydrogen Fueling Corp. planned to deploy a minimum of 100 hydrogen fueling stations with multiple Middle Eastern governments and private and public multinational corporations over the next two years, subject to completing the manufacturing of a prototype dispensing unit and successful testing.
Additionally, with only two hydrogen fueling stations across the UAE, PowerTap targets to develop a hydrogen highway utilizing many of the country’s 643 fueling stations. Further, hydrogen fuel cell vehicles use a propulsion system similar to that of electric vehicles, where energy stored as hydrogen is converted to electricity by the fuel cell. Unlike conventional internal combustion engine vehicles, these hydrogen fuel cell vehicles produce no harmful tailpipe emissions. Thus, it helps increase the demand for hydrogen in fuel cell-based vehicles across the MENA region. Therefore, increasing demand for vehicles operated with the help of hydrogen fuel cells has proved to be a major driving force for the market. The dependency on traditional fuels has reduced comparatively, which has proved to be a major growth factor for the market. People are switching to fuel cell vehicles instead of gasoline-based machines, which is helping the market record a considerable revenue over time.
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MENA Hydrogen Electrolyzer Market Segmentation
By Type
- Proton Exchange Membrane (PEM) Electrolyzer
- Alkaline Electrolyzer
- Solid Oxide Electrolyzer
By Capacity
- Below 500 kW
- 500 kW – 2 MW
- Above 2 MW
By End-Use
- Ammonia
- Methanol
- Refining/Hydrocarbon
- Transport
- Others
Major Players in the MENA Hydrogen Electrolyzer Market
The key players studied in the MENA hydrogen electrolyzer market are Nel Hydrogen, John Cockerill, Plug Power, Cavendish Renewable Technology, Siemens Energy (Siemens AG), Air Liquide, thyssenkrupp nucera, Asahi Kasei, Cummins (Hydrogenics), and Linde plc.
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