North America Alkaline Water Electrolysis Market Size & Outlook
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North America alkaline water electrolysis market highlights
- The North America alkaline water electrolysis market generated a revenue of USD 25.7 million in 2024.
- The market is expected to grow at a CAGR of 23% from 2025 to 2030.
- In terms of segment, < 50 m3/h was the largest revenue generating type in 2024.
- < 80 m3/h is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2025 to 2030.
North America data book summary
| Market revenue in 2024 | USD 25.7 million |
| Market revenue in 2030 | USD 88.4 million |
| Growth rate | 23% (CAGR from 2025 to 2030) |
| Largest segment | < 50 m3/h |
| Fastest growing segment | < 80 m3/h |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | < 10 m3/h, < 30 m3/h, < 50 m3/h, < 80 m3/h, >= 80 m3/h |
| Key market players worldwide | ITM Power PLC, NEL Hydrogen, Cummins Inc, McPhy Energy SA, Thyssenkrupp AG, Asahi Kasei Corp, Green Hydrogen Systems, Enaex, SunHydrogen, Teledyne CARIS |
Other key industry trends
- In terms of revenue, North America region accounted for 15.4% of the global alkaline water electrolysis market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 88.4 million by 2030.
< 50 m3/h was the largest segment with a revenue share of 37.35% in 2024. Horizon Databook has segmented the North America alkaline water electrolysis market based on < 10 m3/h, < 30 m3/h, < 50 m3/h, < 80 m3/h, >= 80 m3/h covering the revenue growth of each sub-segment from 2018 to 2030.
The region is witnessing substantial investments in hydrogen infrastructure and technology advancements that enhance the efficiency and cost-effectiveness of alkaline electrolysis systems. Major players, including Thyssenkrupp and Nel Hydrogen, are actively expanding their capabilities to meet the rising demand.
Additionally, the automotive industry's shift toward hydrogen fuel cell vehicles further propels market growth. As North America aims for a sustainable energy future, the alkaline water electrolysis market is well-positioned for continued expansion, reflecting the broader global trend towards decarbonization and renewable energy integration.
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Alkaline Water Electrolysis Market Scope
Alkaline Water Electrolysis Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Teledyne CARIS | View profile | 101-250 | Fredericton, New Brunswick, Canada, North America | http://www.teledynecaris.com/en |
| SunHydrogen | View profile | 1-10 | Santa Barbara, California, United States, North America | https://sunhydrogen.com/ |
| Enaex | View profile | 5001-10000 | Santiago, Oaxaca, Mexico, North America | http://www.enaex.com |
| NEL Hydrogen | View profile | 501-1000 | Oslo, Oslo, Norway, Europe | https://nelhydrogen.com |
| Green Hydrogen Systems | View profile | 251-500 | Kolding, Syddanmark, Denmark, Europe | http://greenhydrogen.dk/ |
| McPhy Energy SA | View profile | 265 | 1115, Route de Saint-Thomas, La Motte-Fanjas, France, 26190 | http://www.mcphy.com |
| ITM Power PLC | View profile | 406 | 2 Bessemer Park, Shepcote Lane, Sheffield, United Kingdom, S9 1DZ | https://www.itm-power.com |
| Thyssenkrupp AG | View profile | 100202 | ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 | https://www.thyssenkrupp.com |
| Cummins Inc | View profile | 75500 | 500 Jackson Street, Box 3005, Columbus, IN, United States, 47202-3005 | https://www.cummins.com |
| Asahi Kasei Corp | View profile | 48897 | 1-105 Kanda Jinbocho, Chiyoda-ku, Tokyo, Japan, 101-8101 | http://www.asahi-kasei.co.jp |
North America alkaline water electrolysis market size, by country, 2018-2030 (US$M)
North America Alkaline Water Electrolysis Market Outlook Share, 2024 & 2030 (US$M)
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