The global water electrolysis market is estimated to reach $7,178.61 million in 2031, reveals the premium market intelligence study by Our Research Team. The study also highlights that the market is set to witness a CAGR of 35.4% during the forecast period 2022-2031.
International Energy Agency (IEA) has projected that the energy demand will grow between 25% to 30% by 2040, with companies and governments trying to find sustainable and low-carbon emission energy sources. Hydrogen is being regarded as the fuel of the future, and the IEA has projected that hydrogen production from water electrolysis can prevent up to 830 million tons of CO₂ annually from entering the atmosphere. Moreover, the growing demand for hydrogen fuel cell vehicles, green ammonia, green methanol, and other applications is driving the growth of the water electrolysis market.
USP of the Report
• Critical analysis of four types of water electrolyzer systems
• Evaluation of key start-ups in the global water electrolysis market
• Critical evaluation of the Ukraine-Russia conflict and its effect on the global hydrogen market
• Snapshot of the global green hydrogen market
• Snapshot of the global green ammonia market
• Patent analysis for the patents filed related to the water electrolysis since January 1, 2019
According to Shivam Priyadarshi, Principal Analyst, Our Research Team, “The water electrolysis market is expected to register continuous growth during the forecast period owing to the growing demand for sustainable energy sources, rising green hydrogen and green ammonia demand, and investment from the government toward green and sustainable technologies. Moreover, growing investment in renewable energy sources and demand for energy storage technologies is also expected to contribute toward the growth of water electrolysis market during the forecast period.”
Key Companies Operating in the Market
Key players in the water electrolysis market analyzed and profiled in the study involve major water electrolyzer manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the water electrolysis market 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.
The global water electrolysis market comprise players such as Asahi Kasei Corporation, Nel ASA, thyssenkrupp AG, Cummins Inc., Toshiba Energy Systems & Solutions Corporation, Teledyne Energy Systems Inc., Suzhou Green Hydrogen Energy Co., Ltd., Suzhou Jingli Hydrogen Production Equipment Co., Ltd., ITM Power PLC, Clean Power Hydrogen Group Limited, Plug Power Inc., Hitachi Zosen Corporation, John Cockerill, Siemens Energy AG, McPhy Energy S.A., Enapter AG, Elogen, h2e Power Systems Pvt. Ltd., Ohmium, Hystar, Verdagy, OxEon Energy, LLC, EvolOH, Inc., Evolve Hydrogen Inc., and ERGOSUP.
Key Questions Answered in the Report
• What are the major factors and trends impacting the water electrolysis market?
• How has COVID-19 impacted the water electrolysis market across the globe?
• What are the steps taken by the existing players to improve their market positioning and the strategy adopted by new players entering in market space?
• Which are the leading electrolyzer type and end-use applications in the market, and how are they going to perform during the forecast period?
• What are the latest developments in various countries across the globe for the development of the water electrolysis market, and what are the installation patterns for water electrolyzers?
• What are the major challenges around the adoption of water electrolysis across different regions and countries? Are there any government regulations(regional/global) impacting the water electrolysis market?
Buy the report: Water Electrolysis Market – A Global and Regional Analysis: Focus on End-Use Application, Electrolyzer Type, and Region – Analysis and Forecast, 2022-2031