The Global Water Electrolysis Market size was valued at around USD 1.8 billion in 2023 & is estimated to grow at a CAGR of about 7.1% during the forecast period, i.e., 2024-30. According to MarkNtel Advisors Study.
Global Water Electrolysis Market Driver:
Transition to Sustainability to Have a Positive Impact on Market Expansion – The rising emphasis on environmental sustainability has prompted industries and businesses in the commercial sector to identify hydrogen as a crucial element for numerous future applications. With a heightened interest in hydrogen as a green energy solution, ongoing innovations & technological advancements primarily target sustainable methods of hydrogen production, hence instigating the Water Electrolysis Market.
Hydrogen finds extensive use across various industries, particularly in fuel cell-based applications, significantly impacting hydrogen production. A water electrolysis machine stands as an efficient solution for producing hydrogen in a sustainable manner & in considerable volume, meeting the substantial demand for hydrogen as a green energy source, further elevating the market share in the upcoming years.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Water Electrolysis Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Product
- Alkaline Electrolyzer- Market Size & Forecast 2019-2030F, USD Million
- Proton Exchange Membrane (PEM) Electrolyzer- Market Size & Forecast 2019-2030F, USD Million
- Solid Oxide Electrolyzer Cell (SOEC)- Market Size & Forecast 2019-2030F, USD Million
- Anion Exchange Membrane (AEM) Electrolyzers- Market Size & Forecast 2019-2030F, USD Million
- By Application
- Refining Industry- Market Size & Forecast 2019-2030F, USD Million
- Power & Energy Store- Market Size & Forecast 2019-2030F, USD Million
- Ammonia Production- Market Size & Forecast 2019-2030F, USD Million
- Methanol Production- Market Size & Forecast 2019-2030F, USD Million
- By Input Power
- Below 5kW- Market Size & Forecast 2019-2030F, USD Million
- 2kW-5kW- Market Size & Forecast 2019-2030F, USD Million
- Above 5kW- Market Size & Forecast 2019-2030F, USD Million
- By Hydrogen Production
- Below 500L/Hr- Market Size & Forecast 2019-2030F, USD Million
- 500-2000 L/Hr- Market Size & Forecast 2019-2030F, USD Million
- Above 2000 L/Hr- Market Size & Forecast 2019-2030F, USD Million
- By End Users
- Chemical Industry- Market Size & Forecast 2019-2030F, USD Million
- Electronics & Semiconductors Industry- Market Size & Forecast 2019-2030F, USD Million
- Power Plants- Market Size & Forecast 2019-2030F, USD Million
- Petroleum Industry- Market Size & Forecast 2019-2030F, USD Million
- Pharmaceutical Industry- Market Size & Forecast 2019-2030F, USD Million
- Others (Steel Plants, Transportation/Mobility Industry, etc.)- Market Size & Forecast 2019-2030F, USD Million
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Audlong Machinery Manufacturing Co., Ltd., ThyssenKrupp AG, Linde plc, Siemens AG, Plug Power Inc., Cummins Inc., Erre Due SpA, Peak Scientific Instruments, Asahi Kasei Corporation, Nel ASA, ITM Power Plc, Enapter AG, John Cockerill, Proton Onsite, Teledyne Technologies Inc., and Others are looking forward to strengthening their market positions.
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