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.
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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.
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. 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.
Market Restraints and Challenges
Hydrogen can be produced using multiple technologies, including electrolysis, thermochemical, photolytic, and biological processes. The electrolysis-based hydrogen generation process faces stiff competition from other alternative processes, especially thermochemical processes, as electrolysis only accounts for one-twenty-fifth of the overall sources of hydrogen generation. Major thermochemical processes include natural gas reforming/SMR, coal gasification, and biomass gasification. SMR (steam-methane reforming) is one of the most popular technologies for hydrogen generation and uses high-temperature steam to produce hydrogen from natural gas, a methane source. However, these technologies have the potential for sustainable hydrogen production and low emissions. Therefore, the presence of mature and cost-efficient alternative hydrogen production technologies may hinder the market’s growth during the forecast period.
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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.
COVID-19 Impact
In the pre-COVID-19 pandemic scenario, the production and use of low-carbon forms of hydrogen had gained unprecedented momentum. Hydrogen fuel-cell vehicle sales accelerated impressively in 2019, and the early 2020s were expected to be record years for the deployment of electrolyzer capacity, according to the IEA report on The Covid-19 Crisis and Clean Energy Progress, in June 2020. Secondly, before the COVID-19 pandemic, the sharp drop in oil and gas prices that began in 2015 fostered MENA green hydrocarbon producers to launch ambitious economic reform programs in all countries. Moreover, before the COVID-19 pandemic, progress in clean energy technologies had been promising. Thus, the pre-COVID-19 pandemic positively impacted the MENA hydrogen electrolyzer market.
The outbreak of the COVID-19 pandemic led to a decline in the demand for hydrogen electrolyzers across the MENA region. The outbreak of COVID-19 posed certain challenges for the MENA hydrogen electrolyzers market in 2020. Repeated nationwide curfews and shutdowns continue to hamper or even halt the movement of raw materials and completed goods, causing manufacturers to suffer. Manufacturing and distribution issues were likely the most visible disturbances to all types of chemical markets. The shutdown of most industries also disrupted supply chains. Metallurgical processes were halted either due to weak demand for end products or workforce unavailability. Such factors reduced the demand for hydrogen used in several industrial processes, thereby negatively affecting the MENA hydrogen electrolyzers market as they are primarily used in hydrogen generation. Further, all current hydrogen demand is in oil refining, the chemical sector, and steel manufacturing, all of which have been highly impacted by the COVID-19 outbreak. Several governments have taken multiple steps to ensure the availability of raw materials by keeping track of the supply and demand of intermediate goods for producing hydrogen. Alongside this, various countries’ governments are also providing subsidies for raw materials, supporting domestic producers with short-term loans to assist small and medium enterprises (SMEs) and local manufacturers engaged in hydrogen generation. Therefore, the overall impact of the COVID-19 pandemic on the MENA hydrogen electrolyzer market was negative.
In the post-COVID-19 pandemic scenario, rising concerns about climate change would encourage the use of clean energy across the MENA region, supporting the demand for and use of hydrogen electrolyzers. Policy support for clean hydrogen has grown in recent years, bolstered by post–COVID-19 recovery spending. Clean-hydrogen-focused companies are raising more money than ever. The annual investment in clean hydrogen now stands at half a billion dollars yearly, according to the IEA report on Global Hydrogen Review 2022. Moreover, the rise in investment in green hydrogen projects after the COVID-19 pandemic has boosted market growth. For instance, Egypt, the host of the COP27 climate change summit, has attracted investment pledges of more than US$ 40 billion in 2022 alone for green hydrogen and green ammonia projects, according to the International Monetary Fund (IMF) data of December 2022. No continent has a better technical potential for producing cheap green hydrogen than Africa. Hence, the MENA hydrogen electrolyzer market in focus is anticipated to show significant growth during the forecast period.
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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
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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