Water Electrolysis Market Size USD 309.9 Million By 2026 At A CAGR Of 9% - Valuates Reports
BANGALORE, India, Dec. 22, 2020 /PRNewswire/ -- Water Electrolysis Market is segmented by Types -Traditional Alkaline Electrolyser, PEM Electrolyser, by Applications - Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV's, Power to Gas, Others. This report is published on Valuates Reports in the Energy & Utilities Category. It also covers Global & Regional Opportunity Analysis and Industry Forecast to 2026.
The global Water Electrolysis market size is projected to reach USD 309.9 million by 2026, from USD 185.3 million in 2020, at a CAGR of 9% during 2021-2026.
Major factors driving the growth of the Water Electrolysis market size are, increase in the use of water electrolysis in end-use industries, growing demand for a carbon-free source of energy, the highly effective way of integrating renewables through the power to the gas facility.
The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by Type, and by Application segment in terms of production capacity, price, and revenue for the period 2015-2026.
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TRENDS INFLUENCING THE WATER ELECTROLYSIS MARKET SIZE
The lack of a robust power grid in many countries is a key factor that encourages the use of water electrolysis as a means of producing electricity. In addition, the production and use of electricity more sustainably by means of water electrolysis will reduce the amount of fuel needed for the generation of electricity and the amount of greenhouse gases emitted. These advantages offered by water electrolysis are expected to drive the water electrolysis market size.
The global transition towards hydrogen-based energy infrastructure is another big factor likely to provide a significant boost to the global water electrolysis market size. Water electrolysis machines have emerged as an imperative method that efficiently separates filtered water into oxygen and hydrogen. Although the adoption of hydrogen-based technologies in many regions is relatively low due to a lack of freshwater, research and development activities are progressively being carried out for the development of water electrolysis machines where impure or salty water can be distributed without purification.
The growth of the global demand for water electrolysis machines is expected to remain slower than in the previous year as a result of the COVID-19 pandemic. The supply chain of raw materials and other essential components needed for the production of water electrolysis machines is largely disrupted by restrictions on transport and cross-border trade. Although revenues are expected to fall sharply in the first two quarters of 2020, the market is likely to show signs of improvement towards the last quarter of 2020.
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WATER ELECTROLYSIS MARKET SHARE ANALYSIS
Asia-Pacific is expected to hold the largest water electrolysis market share during the forecast period. This dominance of the Asia-Pacific region is attributed to the stringent government regulation to reduce carbon footprint in the local region.
Europe held the second-largest water electrolysis market share in 2018 due to its advanced infrastructure for water electrolysis in the industry. The chemical industry in Europe is the major user of the water electrolysis market, due to which the market is expected to grow during the forecast period.
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TOP COMPANIES IN THE WATER ELECTROLYSIS MARKET
Market players are expected to concentrate on product creation and research activities in order to gain a competitive edge in the market during the post-COVID-19 period.
Proton On-Site is the largest supplier, in 2019, accounting for about 18% of global total sales. Other top companies in the water electrolysis market include:
- 718th Research Institute of CSIC
- Teledyne Energy Systems
- Hydrogenics
- Nel Hydrogen
- Suzhou Jingli
- Beijing Zhongdian
- McPhy
- Siemens
- TianJin Mainland
- Areva H2gen
- Shandong Saksay Hydrogen Energy
- Yangzhou Chungdean Hydrogen Equipment
- Asahi Kasei
- Idroenergy Spa
- Erredue SpA
- ShaanXi HuaQin
- Kobelco Eco-Solutions
- ELB Elektrolysetechnik GmbH
- ITM Power
- Toshiba
SEGMENT BY KEY TYPES
- Traditional Alkaline Electrolyser
- PEM Electrolyser
SEGMENT BY KEY APPLICATIONS
- Power Plants
- Steel Plant
- Electronics and Photovoltaics
- Industrial Gases
- Energy Storage or Fueling for FCEV's
- Power to Gas
- Others.
SEGMENT BY KEY REGIONS
The Water Electrolysis market is analysed and market size information is provided by regions (countries).
The key regions covered in the Water Electrolysis market report are North America, Europe, China and Japan. It also covers key regions (countries), viz, the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.
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SIMILAR REPORTS
- In 2019, the global PEM Water Electrolysis market size was USD 77 Million and it is expected to reach USD 110.6 Million by the end of 2026, with a CAGR of 7.5% during 2021-2026. Asia Pacific and EU are projected to hold a major chunk of the PEM water electrolysis market share by 2026. This growth is due to the regions' growing middle class, improving living standards, and fast-developing infrastructure.
- Global Seawater Electrolysis System Market segmented by Product Type - Brackish Water, Brine, Application - Municipal, Marine, Industrial, Others, by key players , Region - North America, LAMEA, Middle East, Asia pacific. etc.
- Global Alkaline Water Electrolysis Market is segmented by types - ＜10 m3/h, ＜30 m3/h, ＜50 m3/h, ＜80 m3/h, ≥80 m3/h, applications - Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Others, by key players , Region - North America, LAMEA, Middle East, Asia pacific. etc.
- The Global Water Electrolysis Hydrogen Equipment market is segmented by Type - Traditional Alkaline Type, PEM Type, by Application - Power Plant, Steel Plant, by key players , Region - North America, LAMEA, Middle East, Asia pacific. etc.
- Global Water Electrolysis System Market is segmented by Type - Traditional Alkaline Electrolyzer, PEM Electrolyzer, by Application - Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV's, Others, by key players , Region - North America, LAMEA, Middle East, Asia pacific. etc.
- Asia-Pacific Water Electrolysis market is segmented by Type - Small Scale Type, Middle Scale Type, Large Scale Type, by Application - Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV's, Others, by technology - Traditional Alkaline Electrolyzer, PEM Electrolyzer by key players , Region - Asia Pacific.
- EMEA Water Electrolysis market is segmented by Type - Small Scale Type, Middle Scale Type, Large Scale Type, by Application - Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV's, Others, by technology - Traditional Alkaline Electrolyzer, PEM Electrolyzer by key players , Region - EMEA.
- Japan Water Electrolysis market is segmented by Type - Small Scale Type, Middle Scale Type, Large Scale Type, by Application - Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV's, Others, by technology - Traditional Alkaline Electrolyzer, PEM Electrolyzer by key players , Region - Japan.
- United States PEM Water Electrolysis market is segmented by Type - Small Scale Type, Middle Scale Type, Large Scale Type, by Application - Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV's, Others, by key players , Region - USA.
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