The Europe Hydrogen Electrolyzer Market was valued at USD 875.6 Million in 2024 and is projected to reach USD 2.58 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period (2024-2030). This rapid expansion is driven by stringent EU decarbonization policies, renewable energy integration mandates, and over €1.2 billion in technology investments across 16 European hydrogen valleys.
As European nations accelerate toward net-zero emissions, electrolyzer manufacturers are scaling production capacities while innovating across alkaline, PEM, and solid oxide technologies. This report profiles the Top 10 Companies Dominating Europe’s Electrolyzer Market—technology pioneers and industrial leaders transforming water into clean hydrogen fuel at unprecedented scales.
🔟 1. Siemens Energy AG
Headquarters: Munich, Germany
Key Offering: PEM Electrolyzers (Silyzer), Offshore Wind Integration
Siemens Energy has deployed Europe’s largest operational electrolyzer systems, with their 17MW Silyzer achieving industry-leading 74% efficiency when directly coupled with offshore wind farms. The company dominates industrial-scale projects with >90% system uptime.
Market Leadership:
- 200MW production JV with Air Liquide operational since 2023
- 14GW electrolyzer project pipeline including NortH2 and AquaVentus
- First to achieve TÜV SÜD certification for offshore electrolysis
Download FREE Sample Report:
Europe Hydrogen Electrolyzer Market – View in Detailed Research Report
9️⃣ 2. ITM Power PLC
Headquarters: Sheffield, UK
Key Offering: Containerized PEM Electrolyzers (500kW-5MW)
This British pioneer operates the world’s largest electrolyzer factory with 1GW annual capacity, supplying 85% of systems to European customers. Their rapid-ramping PEM technology achieves response times under 1 second for grid balancing.
Market Leadership:
- Gigastack consortium deploying 100MW offshore systems by 2025
- Exclusive partnership with Linde for industrial hydrogen projects
- Refinery-scale deployments at Shell Rhineland and Ørsted
8️⃣ 3. NEL Hydrogen
Headquarters: Oslo, Norway
Key Offering: Pressurized Alkaline Electrolyzers (Up to 500Nm³/h)
With over 3,500 installations globally, NEL’s pressurized alkaline systems achieve 80% efficiency at scale. The company leads in current density (3A/cm²) and holds key patents in stack design.
Market Leadership:
- First to certify 100MW+ electrolyzer systems (2023)
- Supplied world’s largest alkaline plant (20MW) in Norway
- Automated production lines reducing module costs by 35%
7️⃣ 4. McPhy Energy S.A.
Headquarters: Grenoble, France
Key Offering: High-Capacity Alkaline Electrolyzers (Up to 8MW)
McPhy’s patented zero-gap architecture reduces system footprint by 30% versus competitors while maintaining 78% efficiency. The company was selected for 14 French hydrogen clusters under IPCEI funding.
Market Leadership:
- Pioneering reversible electrolyzer-fuel cell systems
- 12MW order from H2V Normandy (Europe’s largest hydrogen hub)
- 40% production cost reduction since 2021 through automation
Download FREE Sample Report:
Europe Hydrogen Electrolyzer Market – View in Detailed Research Report
6️⃣ 5. Thyssenkrupp Nucera
Headquarters: Dortmund, Germany
Key Offering: Chlor-Alkali Electrolyzers (Scalable to GW Scale)
Leveraging 50+ years experience, Thyssenkrupp delivers some of the world’s largest electrolysis plants with >90% uptime. Their technology is scaling rapidly through standardized 20MW modules.
Market Leadership:
- 2GW electrolyzer order for NEOM green hydrogen project
- Patented “scalum” module design reduces CAPEX by 25%
- Industrial symbiosis with chemical plants reduces OPEX 18%
5️⃣ 6. Plug Power Inc.
Headquarters: New York, USA (Major EU operations)
Key Offering: Modular PEM Electrolyzers (Up to 5MW)
Plug Power brings North American expertise to Europe, with containerized 5MW units achieving 55kWh/kg efficiency. The company is investing €160M in a European gigafactory.
Market Leadership:
- 30+ operational green hydrogen plants globally
- Strategic partnerships with Acciona and Lhyfe
- Integrated solutions from 100kW to 100MW scale
4️⃣ 7. Cummins Inc. (Hydrogenics)
Headquarters: Brussels, Belgium
Key Offering: PEM & Alkaline Systems for Mobility
Since acquiring Hydrogenics, Cummins has deployed electrolyzers across 20 European countries, specializing in hydrogen refueling stations with 99.5% availability.
Market Leadership:
- Supplied 50% of EU’s Hydrogen Mobility Europe stations
- 10MW module development completed in 2023
- First to certify systems for maritime applications
3️⃣ 8. John Cockerill
Headquarters: Seraing, Belgium
Key Offering: High-Pressure Alkaline Electrolyzers (30 Bar)
This 200-year-old industrial leader has adapted its pressure vessel expertise to produce systems that reduce compression energy needs by 70% through 30-bar operation.
Market Leadership:
- 1GW factory under construction in France (2024 operational)
- Patented catalyst coatings extend stack life to 90,000 hours
- First mover in steel industry decarbonization projects
2️⃣ 9. Enapter AG
Headquarters: Saerbeck, Germany
Key Offering: Modular AEM Electrolyzers (1-100kW)
Enapter’s breakthrough Anion Exchange Membrane technology delivers 75% efficiency at small scale, ideal for decentralized hydrogen production.
Market Leadership:
- Automated “microfactory” produces >10,000 units annually
- Targeting €2,000/kW production costs by 2025
- Projects in 50+ countries including 15 European nations
1️⃣ 10. Sunfire GmbH
Headquarters: Dresden, Germany
Key Offering: Pressurized Alkaline & SOEC Electrolyzers
Sunfire’s high-temperature solid oxide electrolyzers (SOEC) achieve 84% efficiency when coupled with industrial waste heat.
Market Leadership:
- First multi-megawatt SOEC installation operational in 2023
- Pioneering electrolysis for e-fuels production
- 50% CAPEX reduction target by 2026
Get Full Report Here:
Europe Hydrogen Electrolyzer Market – View in Detailed Research Report
🌍 Market Outlook: Electrolyzers at the Heart of Europe’s Energy Transition
The European electrolyzer market is scaling rapidly to meet the REPowerEU target of 10Mt annual renewable hydrogen production by 2030. Manufacturers are transitioning from prototype projects to gigawatt-scale industrialization while cutting costs through technological innovations.
📈 Key Industry Trends:
- Capacity Expansion: Annual manufacturing capacity growing from 1.5GW (2023) to 25GW+ by 2030
- Efficiency Gains: New membranes boosting system efficiency from 60% to >80%
- Cost Reduction: CAPEX falling from €1,200/kW to €500/kW by 2025
- Technology Mix: PEM capturing 45% market share by 2027 vs. alkaline’s 50% today
Growth Drivers Reshaping the Market
- Policy Support: €3B in EU Innovation Fund grants for electrolyzer projects
- Industrial Demand: Steel and chemicals sectors committing to 7Mt hydrogen use by 2030
- Renewable Integration: 65% of new projects directly coupled with wind/solar
- Supply Chain: 78% of components now Europe-sourced, up from 50% in 2020
Get Full Report Here:
Europe Hydrogen Electrolyzer Market – View in Detailed Research Report
The companies profiled represent Europe’s technological and industrial leadership in electrolysis—their innovations are making clean hydrogen economically viable while creating new energy ecosystems across the continent.