Market Trends

Surge in European Market for Power Supply Equipment Foreseen as Interest in Green Hydrogen Escalates

DUBLIN, April 1, 2024 – The comprehensive analysis entitled "Europe Power Supply Equipment Market for Water Electrolysis: Focus on Application, Equipment Type, and Country - Analysis and Forecast, 2023-2032," has now been incorporated into the extensive listing of ResearchAndMarkets.com. This detailed report reveals the significant progression anticipated within Europe's power supply equipment market specifically for water electrolysis, which excludes the United Kingdom.

In the preceding year of 2023, the market valuation rested at approximately $191.5 million. However, forecasts project an immense compound annual growth rate (CAGR) of 30.43%, thereby potentially escalating the market's worth to a substantial $2,092.6 million by the year 2032.

Government Advocacy and Net Zero Ambitions Propel Expansion

A confluence of robust government backing, stringent objectives aimed at net zero carbon emissions, and burgeoning enthusiasm for hydrogen fuel cell vehicles, along with other green technologies like green ammonia and methanol, is set to invigorate the market's expansion. The forthcoming market is instrumental in Europe's energy landscape, and it thrives on various dynamic factors.

Advocacy from European governments is substantial, with policies, subsidies, incentives, and regulatory frameworks augmenting the proliferation of renewable energies and exhilarating the pursuit of carbon neutrality. These elements serve as fundamental drivers catalyzing the market's advancement.

The Drive Towards Decarbonization and Emerging Applications

The impetus towards decarbonization is not solely a government endeavor but is further propelled by public awareness and the demand for a cleaner environment. Such aspirations work in tandem with the development of green technology applications, ultimately enhancing the necessity for power supply equipment specialized in water electrolysis.

Additionally, the market is swelled by the rising adoption of hydrogen fuel cell vehicles. The escalating interest in green hydrogen, as called upon by industries such as transportation, manufacturing, and power generation, is also contributing to the overall market growth. Emerging applications, including green ammonia and green methanol, are signaling augmented demand for electrolysis equipment. Manufacturers and market stakeholders are keenly aware of these burgeoning opportunities, ready to harness them and play a leading role in guiding Europe toward a sustainable and low-carbon future.

Navigating the Report: Valuable Insights for Organizations

Product/Innovation Strategy: This report segment offers insights into the power supply equipment utilized in water electrolysis processes, such as rectifiers and transformers, as well as other pivotal components. Furthermore, it delineates a comprehensive understanding of the power supply equipment market segmented by diverse applications including alkaline, proton exchange membrane (PEM), solid oxide electrolytic cell (SOEC), and anion exchange membrane (AEM) electrolyzers.

Growth/Marketing and Competitive Strategies: Businesses within the rapidly growing power supply equipment market for water electrolysis have an enormous potential to exploit. Marekt analysis covers a wide spectrum of strategies, such as mergers, product launches, partnerships, market expansion, and significant investments that are being adopted to secure market presence.

As companies strive to strengthen their position, strategies such as partnerships and agreements emerge as preferred choices. Detailed competitive benchmarking is provided for players actively engaged in the European market, elucidating how they compare against one another, thus offering a clear overview of the market landscape.

Additionally, the analysis puts forth a vision of untapped revenue pockets that could be explored through strategic competitive measures such as collaborations and agreements.

Key Companies to Watch and Market Insights

Competitive Benchmarking & Company Profiles: This extensive profiling includes an array of power supply equipment manufacturers across the European ecosystem. The companies listed are key players poised to impact the market significantly:

• AEG Power Solutions B.V.
• Ingeteam
• Comeca Group
• Nidec Industrial Solutions
• Danfoss Drives
• Prodrive Technologies
• FRIEM SPA
• ABB
• KraftPowercon
• Mak Plus Power Systems
• MUNK GmbH
• SMA Solar Technology AG

Market participants can expect to be informed about these organizations' strategic positions, offering a competitive benchmarking that showcases a clear market viewpoint. It is essential for stakeholders to comprehend the landscape of competition, as well as the strategies employed by their peers.

Understanding the Market through Key Chapters:

Executive Summary: A condensed overview encapsulating essential insights provides a swift comprehension of the market's essence.

Scope of the Study: A detailed breakdown sets the stage for the extensive scope of the market study being undertaken.

Among the critical areas covered within the report are:

1. Markets

   • Current and Future Industry Trends:

     • Unprecedented growth in interest for Green Hydrogen as a Clean Energy Source
     • Cutting-edge advancements in Power Electronics

   • Supply Chain Analysis: Highlighting interdependencies within the market's network

   • Ecosystem Overview:

     • Notable Consortiums and Associations
     • Pertinent Regulatory/Certification Bodies
     • Government Program Insights

   • Prospective Hydrogen Market Growth Analysis: Estimations of serviceable market size for electrolyzers up to 2050

   • Adopted Strategies and Key Projects: Spotlight on sustainable hydrogen strategies and a review of forthcoming green hydrogen initiatives

   • COVID-19 Impact Assessment: Understanding the pandemic's effect on the market

   • Market Snapshot: Succinct summaries for Water Electrolysis and Green Hydrogen Markets, including market leaders and projections

2. Region

   • Focused insights on individual European countries, including market performance, producers, applications, and business dynamics

3. Comprehensive Competitive Analysis:

   • Resolute benchmarks of market player positions
   • Overview of markets shared by leading incumbents

4. Research Methodology: Elucidation of the methods behind the comprehensive market analysis

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For further information about the insightful "Europe Power Supply Equipment Market for Water Electrolysis" report, potential readers and stakeholders are advised to visit ResearchAndMarkets.com.

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Acknowledgments

Research and Markets take pride in producing comprehensive market analyses that serve businesses and stakeholders worldwide. With meticulous research and in-depth reviews, these reports ensure that industry participants have access to credible and actionable insights.

As the "Europe Power Supply Equipment Market for Water Electrolysis" report becomes available to the public, the industry readies itself for the wealth of knowledge and understanding that comes with it. It is set to become an essential tool for market players eager to navigate the burgeoning power supply equipment landscape with expertise.

Conclusion

The European market for power supply equipment for water electrolysis stands at the cusp of a significant transformation. Buoyed by supportive government policies and the accelerating green energy revolution, industry players are preparing for a period of rapid growth and abundant opportunities. In-depth reports such as the one released by ResearchAndMarkets.com are invaluable assets, guiding businesses and policymakers as they contribute to a greener, more sustainable future for all.