Water Electrolysis Market Research Report: Information By Product Category (Proton Exchange Membrane, Alkaline Water Electrolysis and Solid Oxide Electrolyte (SOE)), End Users (Chemicals, Electronics & Semiconductor, Power Plants, Petroleum, Pharmaceuticals and others) and Region (North America, Europe, Asia–Pacific and Rest of the World) - Forecast 2027
|ID: VPR/CnM/1076||Publishing Year: January 2022||Pages: 112||Format:|
Water Electrolysis Market Overview:
Over the last few years, the Water Electrolysis Process has gained widespread acceptance, with increased investments being made in hydrogen and oxygen synthesis for use in wastewater treatment, renewable energy production, and chemical industry applications. These developments continue to improve the outlook for the market, which is expected to grow at a compound annual growth rate (CAGR) of xx percent during the forecast period.
Electrolysis holds promise as a method of producing hydrogen from renewable sources, according to the National Renewable Energy Laboratory. Electrolysis is the process of splitting water into hydrogen and oxygen through the use of electricity. The electrolysis reaction takes place in a device known as an electrolyzer. Depending on their size, electrolyzers can be anything from small, appliance-sized equipment that is well-suited for small-scale distributed hydrogen production to large-scale, central production facilities that can be linked directly to renewable or other nongreenhouse gas-emitting forms of electricity generation.
- AREVA H2Gen
- Asahi Kasei Corporation
- C&E Environmental Technology Co. Ltd.
- Enagic International Inc.
- Eneco Holdings Inc.
- Hitachi Zosen Corporation
- Hydrogenics Corporation
- ITM Power Plc
- Peak Scientific
- Kobelco Eco-Solutions Co. Ltd.
- Teledyne Technologies Inc.
- Toshiba Energy Systems & Solutions Corporation
- Air Products and Chemicals, Inc.
- Linde AG
- Siemens AG
- ThyssenKrupp AG
Several factors are driving the market, including an increase in the use of Water Electrolysis in end-use industries, an increase in the demand for carbon-free sources of energy, and the highly effective method of integrating renewables through the power to gas facility. There are a number of constraints to the growth of the Global Water Electrolysis Market, however, that are unique to this technology. Furthermore, the introduction of such a substitute for water electrolysis, as well as the increase in the cost of water electrolyzers, are expected to further slow the market's growth globally over the forecast period.
It is anticipated that the Global Water Electrolysis Market will experience significant growth during the forecast period. In 2018, the Asia-Pacific region dominated the Global Water Electrolysis Market, which was followed by North America and Europe. Asia-Pacific is expected to be the largest market for water electrolysis in 2018, and it is expected to continue to dominate the Global Water Electrolysis Market Throughout the projection period. The presence of developing countries such as China, India, South Korea, and Malaysia, among others, in the Asia-Pacific region is the most important factor driving the growth of Water Electrolysis in the domestic region. Furthermore, the stringent government regulations to reduce carbon footprint in the local region are expected to further contribute to the market growth of Water Electrolysis during the forecast period, according to industry analysts.
The Global Water Electrolysis Market has been segmented based on product category, end-users, and geographic region, among others. The Global Water Electrolysis Market has been segmented based on product category into two categories: proton exchange membranes and alkaline water electrolysis systems. Among these types, the Alkaline Water Electrolysis Segment dominated the global market in 2018, and it is expected to continue to dominate the market throughout the forecast period. Alkaline Water Electrolysis is widely regarded as a cutting-edge technology, and it is the most advanced Water Electrolysis Technology currently available. Nicholson and Carlisle came up with the idea in 1800 and began working on it right away. Alkaline electrolyzers account for the vast majority of the Water Electrolysis Capacity installed around the world. Alkaline electrolyzers are the most suitable for large-scale hydrogen production because of their high efficiency. Higher efficiency through the use of high temperature and high pressure operation in alkaline water electrolysis is currently the primary focus of research and development in this field.
As a result of the extensive industrial development in China and India, which is creating a demand for high purity hydrogen, the Asia Pacific region is expected to be the largest regional market with the highest Water Electrolysis Machine Market share during the forecast period, according to analysts. The Asia Pacific region is expected to benefit from lower manufacturing and manpower costs in the production of Water Electrolysis Machines, which is expected to be beneficial in the Global Water Electrolysis Machine Market.
North America is also experiencing rapid growth, owing to the high demand for hydrogen in the United States. Demand for Water Electrolysis Machines is expected to increase as a result of increased investments in the development and production of hydrogen fuel cells, as well as favourable policies aimed at environmental protection and energy independence.
The demand for Water Electrolysis Machines is expected to decline in the year 2020 as a result of a government-imposed lockdown and a decrease in demand from chemical industries.The COVID-19 pandemic has brought the production of various products in the Water Electrolysis Machine Industry to a halt, primarily as a result of the prolonged lockdown imposed in Major Global Markets. This has significantly slowed the growth of the Water Electrolysis Machine Market in recent months, and it is expected to continue to do so throughout the rest of 2019.After having a negative impact on equipment and machinery sales in the first quarter of 2020, COVID-19 is expected to continue to have a negative impact on Market Growth throughout the year.
Type Here for table of content.