Inquire Before Buying - Water Electrolysis Market Share, Size and Latest Trends

Global Water Electrolysis Market Research Report: Forecast (2024-2030)

Water Electrolysis Market- By Product (Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer Cell, Anion Exchange Membrane Electrolyzers), By Appli......cation (Refining Industry, Power & Energy Store, Ammonia Production, Methanol Production), By Input Power (Below 5kW, 2kW-5kW, Above 5kW), By Hydrogen Production (Below 500L/Hr, 500-2000 L/Hr, Above 2000 L/Hr), By End Users (Chemical Industry, Electronics & Semiconductors Industry, Power Plants, Petroleum Industry, Pharmaceutical Industry, Others), and other Read more

Environment
Jan 2024
Pages 204
Report Format: PDF, Excel, PPT

Market Definition

Water electrolysis is a chemical process that breaks down water molecules (H2O) into their constituent elements, hydrogen (H2) and oxygen (O2). This happens in an electrolyzer, which is a device that consists of two electrodes (usually made of metals like platinum or nickel) immersed in water and separated by an electrolyte, which can be an acidic, alkaline, or solid-state material. An electric current passing through water causes a reaction between the water molecules at the electrode surfaces.

Water electrolysis produces hydrogen gas, which is a clean and renewable source of energy that can be used in a variety of industries, including fuel cell technology for transportation, energy storage, and industrial processes.

Market Insights & Analysis: Global Water Electrolysis Market (2024-30):

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. Increasing demand for hydrogen fuel cells, the rise of eco-friendly fertilizers due to the surge in sustainable farming practices, and a growing need for renewable energy sources, are key drivers propelling revenue growth in the forecast period. Green hydrogen generated from water electrolysis has gained significant traction as a renewable energy source in today's world. With increasing emphasis on combating climate change, efforts to decarbonize energy supplies are expected to gain momentum.

Report Coverage	Details
Study Period	Historical Data: 2019-22
	Base Year: 2023
	Forecast Period: 2024-30
CAGR (2024-2030)	7.1%
Regions Covered	North America: US, Canada, Mexico
	Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
	Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
	South America: Brazil, Argentina, Rest of South America
	Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled	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
Market Value (2023)	USD 1.8 Billion

Moreover, the recent introduction of gas-powered fuel cell vehicles is also anticipated to drive emerging trends in the market in the coming years. The International Energy Agency (IEA) predicts a 25% to 30% surge in energy demand by 2040, prompting companies and governments to seek sustainable, low-carbon emission energy sources. Hydrogen is being hailed as the fuel for the future, with projections from IEA suggesting that hydrogen production through water electrolysis could prevent approximately 830 million tons of CO2 emissions annually. Furthermore, the rising demand for hydrogen fuel cell vehicles, green ammonia, green methanol, and other applications is fueling the growth of the water electrolysis market.

Simultaneously, stringent government regulations on fossil fuel usage are expected to compel substantial demand for water electrolysis machines in the near future. Moreover, technological advancements aimed at enhancing the water electrolysis process are creating market trends and opportunities. In addition, water electrolysis machines are rapidly gaining prominence, with hydrogen production playing a pivotal role in multiple sectors, thereby augmenting the Water Electrolysis Market size in the forthcoming years.

Market Segmentation
Introduction
1. Market Definition
2. Research Process
3. Assumptions
Executive Summary
Global Water Electrolysis Market Trends & Insights
Global Water Electrolysis Market Regulations & Policies
Global Water Electrolysis Market Dynamics
1. Growth Drivers
2. Challenges
Global Water Electrolysis Market Supply Chain & Margin Analysis
Global Water Electrolysis Market Hotspots & Opportunities
Global Water Electrolysis Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product
    1. Alkaline Electrolyzer- Market Size & Forecast 2019-2030F, USD Million
    2. Proton Exchange Membrane (PEM) Electrolyzer- Market Size & Forecast 2019-2030F, USD Million
    3. Solid Oxide Electrolyzer Cell (SOEC)- Market Size & Forecast 2019-2030F, USD Million
    4. Anion Exchange Membrane (AEM) Electrolyzers- Market Size & Forecast 2019-2030F, USD Million
  2. By Application
    1. Refining Industry- Market Size & Forecast 2019-2030F, USD Million
    2. Power & Energy Store- Market Size & Forecast 2019-2030F, USD Million
    3. Ammonia Production- Market Size & Forecast 2019-2030F, USD Million
    4. Methanol Production- Market Size & Forecast 2019-2030F, USD Million
  3. By Input Power
    1. Below 5kW- Market Size & Forecast 2019-2030F, USD Million
    2. 2kW-5kW- Market Size & Forecast 2019-2030F, USD Million
    3. Above 5kW- Market Size & Forecast 2019-2030F, USD Million
  4. By Hydrogen Production
    1. Below 500L/Hr- Market Size & Forecast 2019-2030F, USD Million
    2. 500-2000 L/Hr- Market Size & Forecast 2019-2030F, USD Million
    3. Above 2000 L/Hr- Market Size & Forecast 2019-2030F, USD Million
  5. By End Users
    1. Chemical Industry- Market Size & Forecast 2019-2030F, USD Million
    2. Electronics & Semiconductors Industry- Market Size & Forecast 2019-2030F, USD Million
    3. Power Plants- Market Size & Forecast 2019-2030F, USD Million
    4. Petroleum Industry- Market Size & Forecast 2019-2030F, USD Million
    5. Pharmaceutical Industry- Market Size & Forecast 2019-2030F, USD Million
    6. Others (Steel Plants, Transportation/Mobility Industry, etc.)- Market Size & Forecast 2019-2030F, USD Million
  6. By Region
    1. North America
    2. South America
    3. Europe
    4. The Middle East & Africa
    5. Asia-Pacific
  7. By Company
    1. Competition Characteristics
    2. Market Share of Leading Companies
North America Water Electrolysis Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product- Market Size & Forecast 2019-2030F, USD Million
  2. By Application - Market Size & Forecast 2019-2030F, USD Million
  3. By Input Power- Market Size & Forecast 2019-2030F, USD Million
  4. By Hydrogen Production- Market Size & Forecast 2019-2030F, USD Million
  5. By End User- Market Size & Forecast 2019-2030F, USD Million
  6. By Country
    1. The US
    2. Canada
    3. Mexico
3. The US Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
4. Canada Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
5. Mexico Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
South America Water Electrolysis Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product- Market Size & Forecast 2019-2030F, USD Million
  2. By Application - Market Size & Forecast 2019-2030F, USD Million
  3. By Input Power- Market Size & Forecast 2019-2030F, USD Million
  4. By Hydrogen Production- Market Size & Forecast 2019-2030F, USD Million
  5. By End User- Market Size & Forecast 2019-2030F, USD Million
  6. By Country
    1. Brazil
    2. Argentina
    3. Rest of South America
3. Brazil Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
4. Argentina Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
Europe Water Electrolysis Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product- Market Size & Forecast 2019-2030F, USD Million
  2. By Application - Market Size & Forecast 2019-2030F, USD Million
  3. By Input Power- Market Size & Forecast 2019-2030F, USD Million
  4. By Hydrogen Production- Market Size & Forecast 2019-2030F, USD Million
  5. By End User- Market Size & Forecast 2019-2030F, USD Million
  6. By Country
    1. Germany
    2. The UK
    3. France
    4. Italy
    5. Spain
    6. Rest of Europe
3. Germany Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
4. The UK Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
5. France Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
6. Italy Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
7. Spain Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
The Middle East & Africa Water Electrolysis Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product- Market Size & Forecast 2019-2030F, USD Million
  2. By Application - Market Size & Forecast 2019-2030F, USD Million
  3. By Input Power- Market Size & Forecast 2019-2030F, USD Million
  4. By Hydrogen Production- Market Size & Forecast 2019-2030F, USD Million
  5. By End User- Market Size & Forecast 2019-2030F, USD Million
  6. By Country
    1. Saudi Arabia
    2. The UAE
    3. South Africa
    4. Rest of Middle East & Africa
3. Saudi Arabia Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
4. The UAE Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
5. South Africa Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
Asia-Pacific Water Electrolysis Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product- Market Size & Forecast 2019-2030F, USD Million
  2. By Application - Market Size & Forecast 2019-2030F, USD Million
  3. By Input Power- Market Size & Forecast 2019-2030F, USD Million
  4. By Hydrogen Production- Market Size & Forecast 2019-2030F, USD Million
  5. By End User- Market Size & Forecast 2019-2030F, USD Million
  6. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Australia
    6. Rest of Asia-Pacific
3. China Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
4. India Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
5. Japan Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
6. South Korea Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
7. Australia Water Electrolysis Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product- Market Size & Forecast 2019-2030F, USD Million
    2. By Application- Market Size & Forecast 2019-2030F, USD Million
Global Water Electrolysis Market Key Strategic Imperatives for Growth & Success
Competition Outlook
1. Company Profiles
  1. Audlong Machinery Manufacturing Co., Ltd.
    - Business Description
    - Product Segments
    - Strategic Alliances or Partnerships
    - Recent Developments
    - Financial Details
    - Others
  2. ThyssenKrupp AG
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Linde plc
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. Siemens AG
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Plug Power Inc.
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Cummins Inc.
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. Erre Due SpA
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. Peak Scientific Instruments
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. Asahi Kasei Corporation
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. Nel ASA
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  11. ITM Power Plc
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  12. Enapter AG
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  13. John Cockerill
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  14. Proton Onsite
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  15. Teledyne Technologies Inc.
    1. Business Description
    2. Product Segments
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  16. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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