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1Q 2022

Guidehouse Insights Leaderboard: Electrolyzer Vendors

Ranking of Electrolyzer Companies

As economies globally seek to decarbonize, hydrogen has emerged as a critical component of the energy portfolio. Green hydrogen provides the benefits of decarbonization in energy-intensive and hard-to-abate sectors such as steel, chemical feedstocks, long-haul transportation, and the power sector. Electricity for producing the hydrogen that is supplied to these sectors is provided by renewable energy (wind, solar, hydro, geothermal). However, barriers pertaining to cost and infrastructure need to be addressed to realize the full potential of green hydrogen. Factors that drive cost reduction in green hydrogen production include CAPEX, maintenance, and reliability of the electrolyzers, which are in turn governed by economies of scale and learning rates.

Key metrics that define the performance of electrolyzers are their design and construction, efficiency, flexibility of operations, lifetime, and materials involved in their construction. Electrolyzers, based on the electrolyte and operation temperature, can be divided into four main technologies: alkaline, proton exchange, anion exchange, and solid oxide electrolyzers (SOECs). Variations can exist within each technology, with the most radical differences being related to cell design, variation within components, and the degree of technology maturity. The companies, vendors, manufacturers covered in this Leaderboard report cover the spectrum of these electrolyzers.

This Guidehouse Insights Leaderboard examines the strategy and execution of 16 leading electrolyzer vendors. These vendors are rated on 11 criteria: vision; go-to-market strategy; partners; production strategy; technology; geographic reach; sales, marketing, and distribution; product performance; product quality and reliability; product portfolio; pricing; and staying power. Using Guidehouse Insight’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the growing electrolyzer market.

Top 10 Vendors
  • Plug Power
  • ITM Power
  • Nel Hydrogen
  • John Cockerill
  • SunFire
  • Bloom Energy
  • Thyssenkrupp
  • Cummins New Power
  • Enapter
  • Siemens Energy

Pages 53
Tables | Charts | Figures 19
  • What are the drivers and barriers shaping the water electrolysis market?
  • What are the different types of water electrolysis technologies?
  • What is the global water electrolyzer capacity forecast in 2031?
  • Which companies are the Leaders in the water electrolyzer market and why?
  • Which companies are the Contenders and Challengers and why?
  • How are electrolyzer providers ranked?
  • Electrolyzer manufacturers
  • Government agencies
  • Hydrogen nonprofits and research organizations
  • Renewable technology developers
  • Energy cooperatives
  • On-road and off-road transportation companies
  • Utilities
  • Investor community

1. Executive Summary

1.1      Market Introduction

1.2      The Guidehouse Insights Leaderboard Grid

2. Market Overview

2.1      Electrolyzer Characterization and Definition

2.2      Market Drivers

2.3      Market Barriers

2.4      Market Trends

3. The Guidehouse Insights Leaderboard

3.1      The Guidehouse Insights Leaderboard Categories

3.1.1     Leaders

3.1.2     Contenders

3.1.3     Challengers

3.1.4     Followers

3.2      The Guidehouse Insights Leaderboard Grid

4. Company Rankings

4.1      Leaders

4.1.1     Plug Power

4.1.2     ITM Power

4.1.3     Nel Hydrogen

4.1.4     John Cockerill

4.2      Contenders

4.2.1     SunFire

4.2.2     Bloom Energy

4.2.3    Thyssenkrupp

4.2.4   Cummins New Power

4.2.5   Enapter

4.2.6   Siemens Energy

4.2.7   McPhy

4.2.8   MAN Energy Solutions

4.2.9   Elogen

4.2.10  Green Hydrogen Systems

4.2.11  Haldor Topsoe

4.3      Challengers

4.3.1     AquaHydrex

5. Acronym and Abbreviation List

6. Table of Contents

7. Table of Charts and Figures

8. Scope of Study and Methodology

8.1      Scope of Study

8.2      Sources and Methodology

8.2.1     Vendor Selection

8.2.2     Ratings Scale

8.2.2.1   Score Calculations

8.2.3     Criteria Definitions

8.2.3.1   Strategy

8.2.3.2   Execution

  • The Guidehouse Insights Leaderboard Grid
  • Electrolyzer Capacity by Region, World Markets: 2022-2031
  • Plug Power Strategy and Execution Scores
  • ITM Power Strategy and Execution Scores
  • Nel Hydrogen Strategy and Execution Scores
  • John Cockerill Strategy and Execution Scores
  • SunFire Strategy and Execution Scores
  • Bloom Energy Strategy and Execution Scores
  • Thyssenkrupp Strategy and Execution Scores
  • Cummins New Power Strategy and Execution Scores
  • Enapter Strategy and Execution Scores
  • Siemens Energy Strategy and Execution Scores
  • McPhy Strategy and Execution Scores
  • MAN Energy Solutions Strategy and Execution Scores
  • Elogen Strategy and Execution Scores
  • Green Hydrogen Systems Strategy and Execution Scores
  • Haldor Topsoe Strategy and Execution Scores
  • AquaHydrex Strategy and Execution Scores
  • The Guidehouse Insights Leaderboard Overall Scores
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