In recent times, green hydrogen has become fashionable and electrolysers are essential in the process. Therefore, it is not surprising that its production will skyrocket in the coming years.
Guidehouse Insights has studied the production forecasts for hydrogen electrolyzers for the next decade and the result is impressive, without a doubt.
And it is that, according to the data, its growth will come up to 8000% in 2031highlighting the rise of green hydrogen and all the technology associated with it.
Annual manufacturing capacity is expected to reach 104 GW in 2031
Not surprisingly, several factors are expected to drive the growth of a vital element in the production of green hydrogen: the electrolyser that makes it possible to separate the hydrogen and oxygen molecules from the water by applying electricity.
This growth is due to decrease in capital costsas well as raw materials and a general drive to meet the decarbonisation targets for industry and transport.
Europe, path of leadership
The report goes further and even predicts a change in trend that will position Europe as a leader in the hydrogen sectorahead of Asia, North America and the Middle East.
Not surprisingly, at the moment there are no less than 14 large electrolyser factories in process, being that of ITM Power in the United Kingdom the largest, with a capacity of 5 GW. Spain also has its own, designed by Cummins and Iberdrola and with a capacity of 1 GW.
Annual manufacturing capacity is expected to reach 1.3 GW by the end of this year, reaching an impressive figure of 104 GW in 2031. An 8000% that has nothing to do with the current growth rate of 62.6%.
Of course, although this figure is considerable, it is still well below the 180 GW that the International Energy Agency (IEA) forecasts for the end of the decade. And even further behind the 850 GW which, according to the IEA, are needed to reach net zero emissions by 2050.
On the other hand, another study carried out by the United Kingdom Government has revealed worrying and hitherto unknown data on the effects of hydrogen leaks on global warming.
Source: Guidehouse Insights