The global hydrogen electrolyser market is set for a thousand-fold increase by 2040.
That’s the forecast made in new research from consulting firm Aurora Energy Research, which estimates around 213.5GW of projects are planned for delivery in the next 19 years.
That is compared to an estimated 200MW operating currently.
The analysis suggests nearly 85% of anticipated projects are located in Europe, with Germany having a 23% share of the planned global electrolyser capacity.
The EU has already announced a target of 40GW of electrolyser capacity by 2030.
Anise Ganbold, Global Energy Markets Lead at Aurora Energy Research commented: “The pipeline of electrolysers is over 200GW.
“If all of this capacity were to come online, it could produce up to 32 million tonnes of hydrogen per year, already half of today’s hydrogen demand.”