Water Electrolysis Market Analysis | 2023-2028

“The Water Electrolysis Market is expected to grow at a promising CAGR of 6.9% during the forecast period”.

Market Dynamics

Introduction

The process of separating water into hydrogen and oxygen, known as electrolysis, takes place in an electrolyzer. Hydrogen and oxygen are separated from water through electrolysis and then collected separately for use in industrial processes in the chemical, power, and automotive sectors.

Electrolyzers come in various sizes, including compact appliances ideal for small-scale dispersed hydrogen generation and massive central production plants that can be directly connected to non-greenhouse gas-generating sources.

Market Drivers

The market's growth will be fueled by favorable regulatory policies toward building hydrogen infrastructure and expanding its use as an industrial feedstock. The continued advancement of technology and the decline in carbon emissions from manufactured goods will be favorable to the future of the business.

The market structure for water electrolysis in the world today takes into account current developments and the use of new technology by the major industry participants. The market grew as a result of several causes, including rising global carbon emissions, rising low-carbon hydrogen and ammonia production, increasing margarine consumption, rising capacity for menthol manufacture, and growing semiconductor demand.

Segments Analysis

By Product Type

“Alkaline water electrolysis is expected to remain the largest and fastest-growing product type in the market”.

• The market is segmented into proton exchange membranes, alkaline water electrolysis, and solid oxide electrolytes. 
• Alkaline water electrolysis is expected to remain the largest and fastest-growing product type in the market during the forecast period.
• The most advanced water electrolysis method is well recognized as alkaline water electrolysis.
• The majority of the installed water electrolysis capacity worldwide comes from alkaline electrolyzers.
• The vast majority of alkaline electrolyzers are appropriate for producing hydrogen on a large scale.
• Alkaline water electrolysis research is currently focused on increasing efficiency through the use of high-temperature and high-pressure operations. 

By End-User Type

“Chemical is expected to remain the dominant as well as the fastest-growing end-user type in the market”.

• The market is segmented into chemicals, electronics & semiconductors, power plants, petroleum, pharmaceuticals, and others. 
• Chemical is expected to remain the dominant as well as the fastest-growing end-user type in the market during the forecast period.
• To produce ammonia, which has a rising demand for hydrogen in the chemical sector, fertilizers and methanol are utilized in the production of polymers.
• Other essential chemicals made from hydrogen include aniline, cyclohexane, hydrochloric acids, and a variety of bases.

Regional Analysis

“North America is expected to witness significant growth in the water electrolysis market”.

• The market is broken down geographically into areas, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
• In terms of regions, North America is expected to witness significant growth in the water electrolysis market during the forecast period.
• In the development of hydrogen through water electrolysis, the US is a world leader.
• In North America, hydrogen and fuel cells provide energy security and a healthier environment for people.
• To guarantee the safety and environmental friendliness of hydrogen and fuel cell products, the US has maintained and developed particular rules and standards.
• For the usage of hydrogens, numerous innovations have been put into place, including hydrogen-powered buses and forklifts at retail establishments. 

Key Players

The following are the key players in the Water Electrolysis Market (arranged alphabetically)

• AREVA H2Gen
• Air Products and Chemicals, Inc.
• Erre Due SpA
• Hydrogenics Corporation
• Linde AG
• Peak Scientific
• ProtonOnsite
• Siemens AG
• Teledyne Energy Systems Inc.
• ThyssenKrupp AG

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research:

Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.