Asia-Pacific Power Supply Equipment Market for Water Electrolysis: Net-Zero Objectives and Growing Need for Hydrogen Fuel Cell Vehicles Drive Growth - CAGR of 35% Forecast During 2023-2032

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Feb 19, 2024, 11:00 ET

DUBLIN, Feb. 19, 2024 /PRNewswire/ -- The "Asia-Pacific Power Supply Equipment Market for Water Electrolysis: Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.

The Asia-Pacific power supply equipment market for water electrolysis (excluding China) was valued at $50.5 million in 2023, and it is expected to grow at a CAGR of 35.67% and reach $785.6 million by 2032. The growth of the water electrolysis power supply equipment market is anticipated to be propelled by favorable government policies, stringent net-zero objectives, and increasing requirements for hydrogen fuel cell vehicles, environmentally friendly ammonia, sustainable methanol, and similar applications.

The Asia-Pacific (APAC) region is poised to become a significant player in the power supply equipment market for water electrolysis. This growth is driven by a combination of factors, including increasing government support through policies and incentives aimed at promoting clean energy and sustainability. APAC countries are increasingly recognizing the importance of hydrogen in their energy transition strategies, which is boosting investments in water electrolysis technology and its associated power supply equipment.

Moreover, the region's technological advancements, particularly in proton exchange membrane (PEM) electrolysis, are contributing to the demand for specialized power supply equipment tailored to these systems. APAC's vast renewable energy potential and the integration of renewable sources into the power supply chain also play a crucial role in driving the market's growth. As the focus on green hydrogen intensifies, the APAC power supply equipment market for water electrolysis is expected to witness significant expansion.

Companies in the region are actively investing in research and development to establish their presence in this growing segment. This dynamic landscape positions APAC as a key contributor to the future of sustainable hydrogen production.

Report Scope:

Product/Innovation Strategy: The product segment helps the reader understand the power supply equipment used in the water electrolysis process, including rectifiers, transformers, and others. Moreover, the study provides the reader with a detailed understanding of the power supply equipment market for water electrolysis by different applications (alkaline electrolyzer, proton exchange membrane (PEM) electrolyzer, solid oxide electrolytic cell (SOEC) electrolyzer, and anion exchange membrane (AEM) electrolyzer).

Growth/Marketing Strategy: The power supply equipment market for water electrolysis has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include partnerships, agreements, and collaborations.

Competitive Strategy: The key players in the Asia-Pacific power supply equipment market for water electrolysis analyzed and profiled in the study involve power supply equipment manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the APAC power supply equipment market for water electrolysis has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Some prominent names established in this market are:

Ador Powertron Ltd
TMEIC
Statcon Energiaa Pvt. Ltd.

Market Segmentation:

Segmentation by Application

Alkaline Electrolyzer
Proton Exchange Membrane (PEM) Electrolyzer
Solid Oxide Electrolytic Cell (SOEC) Electrolyzer
Anion Exchange Membrane (AEM) Electrolyzer

Segmentation by Equipment Type

Rectifier
Thyristor Rectifier
IGBT Rectifier
Others
Transformer
Others

Segmentation by Country

Japan
South Korea
India
Australia
Rest-of-Asia-Pacific and Japan

Key Topics Covered:

Executive Summary

Scope of the Study

1 Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Rising Interest in Green Hydrogen as a Clean Energy Source
1.1.1.2 Advancements in Power Electronics
1.1.2 Supply Chain Analysis
1.1.3 Ecosystem of Power Supply Equipment Market for Water Electrolysis
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory/Certification Bodies
1.1.3.3 Government Programs
1.1.3.4 Programs by Research Institutions and Universities
1.1.4 Total Addressable Market for Hydrogen & Serviceable Market for Electrolyzer, by 2050
1.1.5 Key Strategies Adopted Across Globe: Sustainable Hydrogen
1.1.6 Recent and Upcoming Key Green Hydrogen Projects (2020-2024)
1.1.7 Impact of COVID-19 on the Power Supply Equipment Market for Water Electrolysis
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Shift toward Renewable Energy Integration
1.2.1.2 Government Support for Renewable Hydrogen Production
1.2.2 Business Challenges
1.2.2.1 Expensive Hydrogen Technology
1.2.2.2 High Energy Losses during the Electrolysis Process
1.2.3 Business Strategies
1.2.4 Product Developments
1.2.5 Market Developments
1.2.6 Corporate Strategies
1.2.7 Mergers and Acquisitions
1.2.8 Partnerships and Joint Ventures
1.2.9 Business Opportunities
1.2.9.1 Advancements in Electrolysis Technology
1.2.9.2 Lucrative Demand for Water Electrolysis from End-User Industries
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem

2 Region
2.1 China
2.2 Asia-Pacific and Japan
2.2.4 Asia-Pacific and Japan (by Country)
2.2.4.1 Japan
2.2.4.2 South Korea
2.2.4.3 India
2.2.4.4 Australia
2.2.4.5 Rest-of-Asia-Pacific and Japan

3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix
3.1.2 Product Matrix for Key Companies, Equipment Type
3.1.3 Market Share Analysis of Key Companies, 2022
3.2 Company Profiles

Ador Powertron Ltd
TMEIC
Statcon Energiaa Pvt. Ltd.
Green Power Co., Ltd.
Liyuan Rectifier Group

For more information about this report visit https://www.researchandmarkets.com/r/5cwfgn

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