Nel has set its sights on the US as the biggest near-term growth market
Electrolyser manufacturers bullish amid market headwinds
Firms are being more careful with order timing, but long-term fundamentals remain promising
Electrolyser manufacturers are confident of converting order backlogs into revenues despite difficult market conditions, according to recent company results announcements. Higher inflation, interest rates and electricity prices in the US and Europe are making it harder for green hydrogen projects to take FIDs, while normalising gas prices have reduced the cost of manufacturing grey hydrogen. Green hydrogen project developers are becoming more cautious with their electrolyser orders as a consequence of the difficult operating conditions, according to Nel CEO Hakon Volldal. “Some months ago, customers were willing to place advance purchase orders on equipment prior to doing FEED studies and pr
Also in this section
11 June 2025
China emerges as clear frontrunner as US growth stalls and Europe burdens its industry with labyrinthine regulations
30 May 2025
Pressure is growing on developers to prove the bankability of their projects in a challenging market for green hydrogen
23 May 2025
Investors remain committed to development but are waiting on greater international market certainty
22 May 2025
The government has ambitions to scale up production and become a major exporter by the end of the decade
