CO2 ELECTROLYZER MARKET

KEY FINDINGS

1. Governments around the world are providing financial and regulatory support for the development and deployment of CO2 electrolyzers. This is helping to reduce the cost of technology and making it more attractive to investors.
2. The cost of renewable energy, such as solar and wind power, has fallen significantly in recent years. This is making CO2 electrolyzers more competitive with traditional fossil fuel-based methods of hydrogen production.
3. CO2 electrolyzers can be used to produce a variety of clean fuels and chemicals, such as hydrogen, syngas, and methanol. These products are in high demand from a variety of industries, including transportation, power generation, and manufacturing.
4. CO2 electrolyzers are still a relatively new technology, and the initial cost of installation can be high. However, the cost of technology is expected to decline in the coming years as production volumes increase.
5. There is a lack of infrastructure for the transportation and storage of hydrogen and other products produced by CO2 electrolyzers. This is a barrier to the deployment of CO2 electrolyzers at scale.
6. There is a need to raise public awareness of the benefits of CO2 electrolyzers and to address any concerns about the safety and environmental impact of the technology.
7. The Asia Pacific region is expected to be the largest and fastest-growing market for CO2 electrolyzers. This is due to the region's strong government support for renewable energy and its growing demand for clean fuels and chemicals.
8. The European Union is also a major market for CO2 electrolyzers. The EU has set ambitious targets for reducing greenhouse gas emissions, and CO2 electrolyzers are seen as a key technology for meeting these targets.
9. The United States is a relatively small market for CO2 electrolyzers, but it is expected to grow rapidly in the coming years. The US government is providing financial and regulatory support for the development and deployment of CO2 electrolyzers, and the technology is gaining interest from a variety of industries.
10. New CO2 electrolyzer technologies are being developed that are more efficient and cost-effective than existing technologies. For example, solid oxide electrolyzer cells (SOECs) are a type of CO2 electrolyzer that can operate at high temperatures and pressures, resulting in higher efficiency.

INTRODUCTION

A CO2 electrolyzer is a device that uses electricity to convert water into oxygen and hydrogen through a process known as electrolysis.

It is made up of a cathode, an anode, and a membrane. The system generates hydrogen gas via electrolysis. Across the device, electricity is supplied to the anode and cathode, causing water to split into hydrogen and oxygen.

These devices are most commonly found in fixed, portable, and transportation power production systems, such as fuel-cell-powered automobiles and portable gadgets.

The hydrogen generated by the device may be utilised for a variety of purposes and integrated into a variety of system topologies. Hydrogen is used in a variety of applications, including automobile fuelling, industrial operations, power production, and injection into natural gas pipelines.

Alkaline CO2 electrolyzers use an alkaline electrolyte, such as potassium hydroxide (KOH), and operate at low temperatures and pressures. Alkaline CO2 electrolyzers are the most mature and cost-effective type of CO2 electrolyzer, but they have lower efficiency than other types of CO2 electrolyzers.

High-temperature CO2 electrolyzers operate at temperatures above 1000 degrees Celsius. High-temperature CO2 electrolyzers are more efficient than other types of CO2 electrolyzers, but they require more expensive materials and are more complex to operate.

CO2 electrolyzers can be used to produce clean fuels, such as hydrogen and methanol, from renewable energy and CO2. These fuels can be used in a variety of applications, such as transportation, power generation, and industrial processes.

CO2 ELECTROLYZER MARKET SIZE AND FORECAST

The Global CO2 Electrolyzer Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

CO2 ELECTROLYZER MARKET TRENDS

Governments are providing financial incentives, such as grants, loans, and tax credits, to support the development and deployment of CO2 electrolyzers. For example, the U.S. Department of Energy is providing a $50 million grant to support the development of CO2 electrolyzers.

Governments are also providing regulatory support for CO2 electrolyzers. For example, the European Union has set a target to deploy 40 GW of CO2 electrolyzers by 2030.

Governments are also implementing carbon pricing schemes, which make CO2 emissions more expensive. This is making CO2 electrolyzers more competitive with traditional fossil fuel-based methods of hydrogen production.

CO2 ELECTROLYZER MARKET NEW PRODUCT LAUNCH

Heliogen, a US-based company developing CO2 electrolyzers that use concentrated sunlight to split water into hydrogen and oxygen, has raised $200 million in a Series D funding round. The company plans to use the funding to scale up production of its CO2 electrolyzers and to deploy them at commercial scale.

C-Zero, a US-based company developing SOECs, has raised $25 million in a Series A funding round. The company plans to use the funding to develop and commercialize its SOECs, which are a type of CO2 electrolyzer that is more efficient than other types of CO2 electrolyzers.

Climeworks, a Swiss company developing carbon capture technology, has partnered with Microsoft to develop CO2 electrolyzer technology. The partnership is aimed at developing CO2 electrolyzers that are more efficient and cost-effective than existing technologies.

Carbon Clean, a British company developing CO2 capture and utilization technology, has raised $40 million in a Series C funding round. The company plans to use the funding to develop CO2 electrolyzer technology and to deploy it at commercial scale.

Siemens Energy’s launched the world’s first completely automated CO electrolyzer generates carbon monoxide and utilises hydrogen as a fuel for the bacteria in the bioreactor.

In synthetic photosynthesis, Evonik and Siemens Energy begin construction of a demonstration facility that uses carbon dioxide as raw material, stores energy, and can produce a variety of speciality chemicals.

Two firms are contributing essential competencies to the ‘Rheticus’ research project. Siemens Energy contributes its fully automated low-temperature electrolyzer, while Evonik, which has its headquarters in Marl, contributes its experience in biological gas fermentation.

They collaborated to create a technical breakthrough for Power-to-X technologies. Both technologies are being coupled in a first test plant after several years of upscaling.

CO2 ELECTROLYZER MARKET SEGMENTATION

 CO2 ELECTROLYZER MARKET By Geography

•      North America
•      Europe
•      China
•      Asia Ex China
•      ROW

 CO2 ELECTROLYZER MARKET By Product Type

•      Alkaline CO2 electrolyzers
•      Proton exchange membrane (PEM) CO2 electrolyzers
•      Solid oxide electrolyzer cells (SOECs)
•      Anion exchange membrane (AEM) CO2 electrolyzers

CO2 ELECTROLYZER MARKET By Capacity

•      Small-scale (up to 1 MW)
•      Medium-scale (1-10 MW)
•      Large-scale (above 10 MW)

CO2 ELECTROLYZER MARKET By Application

•      Hydrogen production
•      Chemical production
•      Energy storage
•      Carbon capture and utilization (CCU)

CO2 ELECTROLYZER MARKET COMPANY PROFILE

• Hydrogenics (US)
• Areva H2gen (France)
• Shandong Saikesaisi Hydrogen Energy Co., Ltd. (China)
• Teledyne Energy Systems (US)
• Siemens AG (Germany)
• Kobelco Eco-Solutions (Japan)
• McPhy (France)
• Yangzhou Chungdean Hydrogen Equipment Co., Ltd (China)
• ITM Power (UK)
• Idroenergy Spa (Italy)
• Erredue SpA (Italy)

THIS CO2 ELECTROLYZER MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the average cost per Global CO2 electrolyzer market right now and how will it change in the next 5-6 years?
2. What is the average cost to set up a CO2 electrolyzer market in the US, Europe and China?
3. Where is the Global CO2 electrolyzer market manufactured? What is the average margin per equipment?
4. Market share of Global CO2 electrolyzer market manufacturers and their upcoming products
5. Details on network of major Global CO2 electrolyzer market and pricing plans
6. The key predictions for next 5 years in Global CO2 electrolyzer market
7. Average B-2-B Global CO2 electrolyzer market price in all segments
8. Latest trends in Global CO2 electrolyzer market, by every market segment
9. The market size (both volume and value) of the Global CO2 electrolyzer market in 2022-2030 and every year in between?
10. What are the primary applications of CO2 electrolyzers , and how are they evolving?
11. Who are the major players and competitors in the global CO2 electrolyzer market?
12. What types of products or fuels are being produced using CO2 electrolysis technology?
13. How does government policy and regulation impact the global CO2 electrolyzer market?
14. What are the key technological advancements and innovations in CO2 electrolyzer technology?
15. How does the availability of renewable energy sources impact the feasibility and scalability of CO2 electrolysis?
16. What role does CO2 electrolysis play in the broader context of carbon capture and utilization (CCU) strategies?
17. How do CO2 electrolyzers contribute to sustainability and carbon reduction efforts?
18. What is the potential market size and impact of the global CO2 electrolyzer market in mitigating climate change?