Global Water Electrolysis Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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“Global Water Electrolysis Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global water electrolysis market report has been segmented on the basis of technology, end user, and region.
Global Water Electrolysis Market: Overview
Water electrolysis is a process used to decompose water into hydrogen and oxygen gas by passing an electric current. The electric power source is a DC current, connected to both electrodes that are placed in water. Hydrogen appears at cathode whereas oxygen appears at anode. The process is widely used in various end-use industries such as chemical, petroleum, pharmaceuticals, energy, electronic & semiconductor, and others.
Global Water Electrolysis Market: Dynamics
Increasing demand for PEM water electrolysis owing to its compact system design, and ability to operate at high pressure and high current density is a key factor expected to drive growth of the global water electrolysis market. In addition, growing adoption of carbon free source of energy is another factor expected to support growth of the target market. Furthermore, increasing research and development and rapid industrialization, coupled with growing power plant, chemical and petroleum industries are factors expected to proliferate growth of the global water electrolysis market in the near future.
However, high cost of water electrolysis equipment is a factor that may restrain growth of the target market. Additionally, sensitivity to imperfections, impurities, and dust could damage the equipment. This is a challenging factor that could affect its demand among end users. Nevertheless, increasing R&D and investment for developing new and cost-effective ion-exchange membrane is a factor expected to create high revenue opportunities for players in the global water electrolysis market.
Global Water Electrolysis Market: Segment Analysis
Among the technology segments, the proton exchange membrane segment is projected to register lucrative revenue growth in the next coming years. This is attributable to increasing demand for PEM electrolysis owing to its advantages such as ability to operate at high current density and high pressure as compared to alkaline water electrolysis.
Among the end user segments, the power plant segment is expected to register moderate growth in terms of revenue in the near future. This is attributed to increasing demand for carbon free source of energy.
Global Water Electrolysis Market: Region Analysis
Currently, the market in Asia Pacific is expected to account for major share in terms of value, and is projected to maintain its dominance in the next 10 years. Increasing demand for water electrolysis in various end-use industries such as power plants, chemical, electronic & semiconductor, and others in countries such as China, India, and Japan is a factor expected to support growth of the Asia Pacific market. North America water electrolysis market is projected to register moderate growth in terms of revenue in the target market. This is attributed to increasing demand for water electrolysis in various end-use industries and presence of major players in countries in the region. The market in Europe is projected to register moderate growth rate in the near future, followed by Middle East & Africa and Latin America.
Global Water Electrolysis Market Segmentation:
Segmentation by Technology:
- Alkaline Water Electrolysis
- Proton Exchange Membrane (PEM)
Segmentation by End User:
- Power Plant
- Electronic & Semiconductor
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Thyssenkrupp AG
- Linde AG
- Air Products and Chemicals, Inc.
- Siemens AG
- Teledyne Energy Systems Inc.
- Hydrogenics Corporation
- AREVA H2Gen
- Peak Scientific Instruments Ltd.
- Erre Due s.p.a.
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