태양광-수소 변환 시장 예측(-2032년) : 구성 요소별, 시스템 통합별, 용량별, 배포 모델별, 생산 방식별, 기술별, 최종 사용자별, 지역별 세계 분석

According to Stratistics MRC, the Global Solar-to-Hydrogen Conversion Market is accounted for $19.08 million in 2025 and is expected to reach $37.2 million by 2032 growing at a CAGR of 11.8% during the forecast period. Solar-to-hydrogen conversion is a clean energy process that utilizes solar power to produce hydrogen fuel through methods such as photoelectrochemical water splitting or solar-powered electrolysis. It enables sustainable hydrogen generation without carbon emissions, supporting energy storage, fuel cells, and industrial applications. This technology integrates solar panels or solar reactors with electrolyzers to split water molecules into hydrogen and oxygen and it offers a pathway to decarbonize transportation, manufacturing, and power sectors.

According to a consortium led by Fraunhofer ISE, new perovskite-silicon tandem solar cells are being specifically developed for integrated photoelectrochemical (PEC) systems.

Market Dynamics:

Driver:

Growing renewable energy adoption globally

The growing adoption of renewable energy sources worldwide is driving the solar-to-hydrogen conversion market, as industries and governments increasingly seek low-carbon alternatives. Rising environmental concerns and commitments to net-zero targets are encouraging investment in solar-powered hydrogen production systems. The integration of solar energy with electrolyzers enables cleaner, decentralized energy solutions. Additionally, incentives for renewable energy deployment and declining solar technology costs are further fueling market growth, positioning solar-to-hydrogen as a critical component of the global green hydrogen ecosystem.

Restraint:

Limited large-scale infrastructure availability

Limited infrastructure for large-scale solar-to-hydrogen conversion poses a significant restraint on market expansion. Existing electrolyzer and storage facilities are often insufficient to support industrial-scale hydrogen production. Furthermore, integration with power grids and distribution networks requires substantial investment and planning. The lack of mature transport, storage, and refueling systems further constrains adoption. Consequently, while technological feasibility exists, infrastructure limitations continue to impede large-scale deployment, particularly in regions with underdeveloped renewable energy networks.

Opportunity:

Expansion in industrial hydrogen applications

Expansion in industrial hydrogen applications presents a lucrative growth opportunity for the solar-to-hydrogen market. Sectors such as steel, chemical manufacturing, and ammonia production increasingly seek green hydrogen to reduce carbon emissions. Solar-to-hydrogen systems offer localized, renewable solutions that mitigate dependency on fossil fuels. Additionally, the integration of solar hydrogen into energy-intensive industries allows companies to meet sustainability goals while maintaining operational efficiency. Growing industrial demand, coupled with supportive policies, positions this market for long-term expansion.

Threat:

Regulatory uncertainty across regions

Regulatory uncertainty across regions poses a significant threat to the solar-to-hydrogen conversion market. Variability in government incentives, subsidies, and safety standards complicates project planning and investment. Additionally, lack of harmonized certification frameworks for hydrogen production and storage can delay commercialization. Policy shifts or delays in legislation may reduce investor confidence and slow deployment of new solar-to-hydrogen facilities. Such uncertainties highlight the market's dependence on consistent, supportive regulatory environments for sustainable growth and adoption.

Covid-19 Impact:

The Covid-19 pandemic disrupted supply chains for solar panels, electrolyzers, and hydrogen storage systems, slowing project timelines globally. Lockdowns and restricted mobility delayed installation and commissioning of solar-to-hydrogen plants. Industrial demand temporarily declined due to reduced manufacturing activity, affecting short-term revenue. However, stimulus measures and recovery packages targeting renewable energy revitalized investment in green hydrogen infrastructure. Overall, while Covid-19 caused temporary setbacks, it also reinforced the strategic importance of decentralized renewable energy solutions, including solar-to-hydrogen systems.

The photovoltaic cells segment is expected to be the largest during the forecast period

The photovoltaic cells segment is expected to account for the largest market share during the forecast period, esulting from their efficiency, scalability, and cost-effectiveness in converting solar energy into electricity for hydrogen production. High adoption rates are observed in regions with abundant sunlight, supporting large-scale solar-to-hydrogen systems. Advances in PV technologies, such as bifacial and tandem cells, enhance energy capture and integration with electrolyzers. This segment benefits from ongoing investments in solar farms and renewable energy policies that encourage clean hydrogen production.

The distributed systems segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the distributed systems segment is predicted to witness the highest growth rate, propelled by the rising need for decentralized and localized hydrogen generation. Distributed solar-to-hydrogen systems enable industrial parks, remote facilities, and microgrids to produce clean hydrogen on-site, reducing transportation costs and dependency on centralized plants. The flexibility, scalability, and integration potential with renewable energy sources drive adoption. Increasing interest in self-sufficient energy solutions, particularly in remote or off-grid areas, fuels strong growth prospects for this segment.

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market share, attributed to substantial solar energy capacity, growing industrial hydrogen demand, and favorable government policies. Countries such as China, Japan, India, and South Korea are investing heavily in solar-to-hydrogen projects to meet renewable energy targets. The presence of manufacturing hubs and abundant solar irradiance enhances deployment potential. Moreover, regional initiatives to decarbonize industry and power sectors further reinforce Asia Pacific's dominance in this market.

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR associated with technological innovations, supportive clean energy policies, and substantial R&D investment. The U.S. and Canada are actively promoting green hydrogen production through solar-to-hydrogen projects for industrial and transport applications. Advancements in high-efficiency photovoltaic systems, electrolyzers, and storage technologies facilitate scalable deployment. Additionally, strong government incentives and private-sector investments are accelerating adoption, making North America a key growth hotspot for solar-to-hydrogen conversion.

Key players in the market

Some of the key players in Solar-to-Hydrogen Conversion Market include SunHydrogen Inc., Enapter AG, Suzhou GH New Energy Co. Ltd., Flux50, Schmid Group, Proton OnSite, Nel ASA, Sunfire GmbH, Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, Linde plc, Cummins Inc., H&R Olwerke Schindler GmbH, Wind to Gas Energy GmbH & Co. KG, Air Liquide S.A., Air Products and Chemicals, Inc., and AMEA Power.

Key Developments:

In July 2025, Enapter AG announced the commissioning of its first mass production facility, the Enapter Campus in Germany, to scale up the manufacturing of its standardized AEM electrolyser modules for green hydrogen production.

In June 2025, SunHydrogen Inc. unveiled a significant breakthrough in its nanoparticle-based green hydrogen technology, achieving a new milestone in solar-to-hydrogen conversion efficiency during extended durability testing.

In May 2025, Nel ASA launched its new, high-capacity PEM electrolyser, the "Nel Mega," designed for large-scale industrial and power plant applications, boasting enhanced efficiency and lower levelized cost of hydrogen (LCOH).

Components Covered:

• Photovoltaic Cells
• Electrolyzer Systems

System Integrations Covered:

• Distributed Systems
• Centralized Systems
• Hybrid Systems

Capacities Covered:

• Up To 10 kW
• 10-100 kW
• Above 100 kW

Deployment Models Covered:

• New Installations
• Retrofit & Upgrades
• Demonstration Projects

Production Methods Covered:

• Direct Water Splitting
• PV-Electrolysis
• Photoelectrochemical (PEC)

Technologies Covered:

• Amorphous Silicon Solar Cells
• Crystalline Silicon Solar Cells
• Tandem/PEC Cells

End Users Covered:

• Residential
• Commercial
• Industrial
• Transportation
• Power Generation

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Technology Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Solar-to-Hydrogen Conversion Market, By Component

• 5.1 Introduction
• 5.2 Photovoltaic Cells
• 5.3 Electrolyzer Systems

6 Global Solar-to-Hydrogen Conversion Market, By System Integration

• 6.1 Introduction
• 6.2 Distributed Systems
• 6.3 Centralized Systems
• 6.4 Hybrid Systems

7 Global Solar-to-Hydrogen Conversion Market, By Capacity

• 7.1 Introduction
• 7.2 Up To 10 kW
• 7.3 10-100 kW
• 7.4 Above 100 kW

8 Global Solar-to-Hydrogen Conversion Market, By Deployment Model

• 8.1 Introduction
• 8.2 New Installations
• 8.3 Retrofit & Upgrades
• 8.4 Demonstration Projects

9 Global Solar-to-Hydrogen Conversion Market, By Production Method

• 9.1 Introduction
• 9.2 Direct Water Splitting
• 9.3 PV-Electrolysis
• 9.4 Photoelectrochemical (PEC)

10 Global Solar-to-Hydrogen Conversion Market, By Technology

• 10.1 Introduction
• 10.2 Amorphous Silicon Solar Cells
• 10.3 Crystalline Silicon Solar Cells
• 10.4 Tandem/PEC Cells

11 Global Solar-to-Hydrogen Conversion Market, By End User

• 11.1 Introduction
• 11.2 Residential
• 11.3 Commercial
• 11.4 Industrial
• 11.5 Transportation
• 11.6 Power Generation

12 Global Solar-to-Hydrogen Conversion Market, By Geography

• 12.1 Introduction
• 12.2 North America
  • 12.2.1 US
  • 12.2.2 Canada
  • 12.2.3 Mexico
• 12.3 Europe
  • 12.3.1 Germany
  • 12.3.2 UK
  • 12.3.3 Italy
  • 12.3.4 France
  • 12.3.5 Spain
  • 12.3.6 Rest of Europe
• 12.4 Asia Pacific
  • 12.4.1 Japan
  • 12.4.2 China
  • 12.4.3 India
  • 12.4.4 Australia
  • 12.4.5 New Zealand
  • 12.4.6 South Korea
  • 12.4.7 Rest of Asia Pacific
• 12.5 South America
  • 12.5.1 Argentina
  • 12.5.2 Brazil
  • 12.5.3 Chile
  • 12.5.4 Rest of South America
• 12.6 Middle East & Africa
  • 12.6.1 Saudi Arabia
  • 12.6.2 UAE
  • 12.6.3 Qatar
  • 12.6.4 South Africa
  • 12.6.5 Rest of Middle East & Africa

13 Key Developments

• 13.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 13.2 Acquisitions & Mergers
• 13.3 New Product Launch
• 13.4 Expansions
• 13.5 Other Key Strategies

14 Company Profiling

• 14.1 SunHydrogen Inc.
• 14.2 Enapter AG
• 14.3 Suzhou GH New Energy Co. Ltd.
• 14.4 Flux50
• 14.5 Schmid Group
• 14.6 Proton OnSite
• 14.7 Nel ASA
• 14.8 Sunfire GmbH
• 14.9 Siemens Energy AG
• 14.10 Toshiba Energy Systems & Solutions Corporation
• 14.11 Linde plc
• 14.12 Cummins Inc.
• 14.13 H&R Olwerke Schindler GmbH
• 14.14 Wind to Gas Energy GmbH & Co. KG
• 14.15 Air Liquide S.A.
• 14.16 Air Products and Chemicals, Inc.
• 14.17 AMEA Power