Market Definition / Research Scope
Water electrolysis is also referred to as water splitting. It is the process of decomposing water into oxygen and hydrogen by having an electric current pass through it. It can be used to make hydrogen gas for hydrogen fuel and oxygen gas that is pure enough for breathing in. Hydrogen is usually the main product while oxygen is a by-product.
A water electrolysis machine is called an electrolyzer. It is made up of an anode and a cathode separated by an electrolyte. There are different processes of electrolysis which are mainly differentiated by temperature of operation and the pH of electrolytes.
Water Electrolysis Machine Market size shall reach a value of $2x61.4 Million in 2031, growing with a CAGR of 12.13% during the forecast period of 2022 to 2031.
Water electrolysis machines are classified according to three technologies;
• Alkaline electrolyzer.
•Polymer electrolyte membrane or proton exchange electrolyzer where the electrolyte is made of plastic.
•Solid oxide or high temperature electrolyzer which uses solid ceramic as electrolyte. It operates at very high temperatures so that the oxides can function accordingly.
Water electrolysis is used in power plants, food industry and manufacturing industry. Hydrogen produced is essential for fuel cell vehicles. The oxygen produced as a by-product is used by astronauts in space. It can also be sold to industries that use oxygen in blast furnaces, electric furnaces and glass melting.
Water Electrolysis Machine Market Growth and Trends
• The hike in the global demand for non-carbon energy efficiency has the ability to accelerate the future demand for water eletrolysis machine market.
• The growing use of water electrolysis machines in petroleum, pharmaceutical and chemical industrial sectors anticipates the propulsion of the market scenario.
• A peaking up development in chemical sectors and its applications in water eletrolysis procedures is likely to foster the market for these machine systems in the long run. Additionally, water eletrolysis equipment finds massive usage in demarcating dicotomous components distinguished in terms of chemical reactivities between substances.
Challenges to Water Electrolysis Machine Market
Some of the predominant limitations of water electrolysis market are mentioned hereby:
• Water eletrolysis machines are expensive to install and operate.
• Some underdeveloped countries have usable alternatives to water electrolysis equipment. The presence of such substitutes obstructs the developing market for these essential devices.
Water Electrolysis Machine Market Regional Analysis
The global market for water electrolysis machine continues to grow at a CAGR of 6.31% according to the market forecast 2017-2023. Of all the regions across the globe, Asia Pacific controls the major share market with a CAGR of 6.92%. In the coming years, the United States is expected to dominate the North American market due to its increased efforts in the extraction of hydrogen from water. By 2023, the water electrolysis market is projected to grow to USD 11.426 billion. Some of the major companies that are contributing to the growth of this sector include Linde AG, Aor Products and Chemicals, Siemens AG, Teledyne Energy Systems, AREVA H2Gen, Erre Due s.p.a, Hydrogen Corporation, and ProtonOnsite.
Water Electrolysis Machine Market Share and Competition
Key companies operating in this industry are: AFAir Products and Chemicals, Inc., AREVA H2Gen, Asahi Kasei Corporation, C&E Environmental Technology Co., Ltd., Enagic International, Inc., Eneco Holdings, Inc., ErreDue spa, Hitachi Zosen Corporation, Hydrogenics Corporation, and ITM Power Plc. Other industries in this domain that is growing at a high CAGR include Aircraft Tank Sensors Water Market and Water Filters Market.
Water Electrolysis Machine Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• Proton Exchange Membrane (PEM)
• Alkaline Water Electrolysis
• Others
Input Power Analysis (Revenue, USD Million, 2022 - 2031)
• Below 5 kW
• 2 kW - 5 kW
• Above 5 kW
Hydrogen Production Analysis (Revenue, USD Million, 2022 - 2031)
• Below 500
• 500 – 2000
• Above 2000
Application Analysis (Revenue, USD Million, 2022 - 2031)
• Chemical
• Petroleum
• Pharmaceuticals
• Power Plants
• Electronics & Semiconductors
• Steel Plants
• Others
Region Analysis (Revenue, USD Million, 2022 - 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Water Electrolysis Machine Market Companies
• Air Products and Chemicals, Inc.
• AREVA H2Gen
• Asahi Kasei Corporation
• C&E Environmental Technology Co., Ltd.
• Enagic International, Inc.
• Eneco Holdings, Inc.
• ErreDue spa
• Hitachi Zosen Corporation
• Hydrogenics Corporation
• ITM Power Plc.
Available Versions: -
United States Water Electrolysis Machine Market Research Report
Europe Water Electrolysis Machine Market Research Report
Asia Pacific Water Electrolysis Machine Market Research Report
India Water Electrolysis Machine Market Research Report
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