Battle on the global electrolyzer market – Overcoming overcapacity and intense competition in producing hydrogen

Battle on the global electrolyzer market – Overcoming overcapacity and intense competition in producing hydrogen

The electrolyzer market is at a pivotal juncture: Clean hydrogen is needed for the energy transition and has been expected to grow fast and strongly, but project realization is largely lagging. The industry faces significant overcapacity, with production rates far outpacing the slow adoption of hydrogen. This challenge is further complicated by competing electrolyzer technologies, none of which has yet become a clear front-runner.

Adding to these challenges is the competition from Chinese manufacturers who offer significantly lower prices and thereby exert pressure on European electrolyzer OEMs. This competitive environment has resulted in a loss of €2.14 billion in shareholder value over the past year alone.

To effectively navigate this uncertain market landscape, European electrolyzer manufacturers must quickly realign their cost structures and scale their operations. As the industry moves toward consolidation, some key actions are important to maintain a competitive edge and secure a strong position in the global electrolyzer market.

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