Global Water Electrolysis Market Overview:

According to MarkNtel Advisors study the Global Water Electrolysis Market size was valued at around USD 1.8 billion in 2023 & is estimated to grow at a CAGR of about 7.1% during the forecast period, i.e., 2024-30. Increasing demand for hydrogen fuel cells, the rise of eco-friendly fertilizers due to the surge in sustainable farming practices, and a growing need for renewable energy sources, are key drivers propelling revenue growth in the forecast period. Green hydrogen generated from water electrolysis has gained significant traction as a renewable energy source in today’s world. With increasing emphasis on combating climate change, efforts to decarbonize energy supplies are expected to gain momentum.

Key Findings of the Study: Water Electrolysis market

Global Water Electrolysis Market Opportunity:

Advancements in Urban Wastewater Treatment to Open New Avenues for the Market – Water quality degradation has recently become a major concern as a result of industrial advancements. The oil industry is one of the most significant sources of pollution. Therefore, strict environmental protection legislation has been enacted. In line with this, the EPA’s research has identified water electrolysis as a viable technique for treating hazardous waste from industrial zones, thus creating an opportunistic arena for the Water Electrolysis Market growth. Furthermore, as electrocoagulation methods gain popularity, the water electrolysis process has become an essential component of wastewater treatment facilities, further contributing to upgrading the market’s growth graph in the forecast years.

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Scope of the Water Electrolysis Market Report Segmentation

-By Product

• Alkaline Electrolyzer- Market Size & Forecast 2019-2030F, USD Million
• Proton Exchange Membrane (PEM) Electrolyzer- Market Size & Forecast 2019-2030F, USD Million
• Solid Oxide Electrolyzer Cell (SOEC)- Market Size & Forecast 2019-2030F, USD Million
• Anion Exchange Membrane (AEM) Electrolyzers- Market Size & Forecast 2019-2030F, USD Million

-By Application

• Refining Industry- Market Size & Forecast 2019-2030F, USD Million
• Power & Energy Store- Market Size & Forecast 2019-2030F, USD Million
• Ammonia Production- Market Size & Forecast 2019-2030F, USD Million
• Methanol Production- Market Size & Forecast 2019-2030F, USD Million

-By Input Power

• Below 5kW- Market Size & Forecast 2019-2030F, USD Million
• 2kW-5kW- Market Size & Forecast 2019-2030F, USD Million
• Above 5kW- Market Size & Forecast 2019-2030F, USD Million

-By Hydrogen Production

• Below 500L/Hr- Market Size & Forecast 2019-2030F, USD Million
• 500-2000 L/Hr- Market Size & Forecast 2019-2030F, USD Million
• Above 2000 L/Hr- Market Size & Forecast 2019-2030F, USD Million

-By End Users

• Chemical Industry- Market Size & Forecast 2019-2030F, USD Million
• Electronics & Semiconductors Industry- Market Size & Forecast 2019-2030F, USD Million
• Power Plants- Market Size & Forecast 2019-2030F, USD Million
• Petroleum Industry- Market Size & Forecast 2019-2030F, USD Million
• Pharmaceutical Industry- Market Size & Forecast 2019-2030F, USD Million
• Others (Steel Plants, Transportation/Mobility Industry, etc.)- Market Size & Forecast 2019-2030F, USD Million

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Geographical analysis:

-By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

In the coming years, the Asia-Pacific region is poised to hold a substantial share of the Water Electrolysis Market. This growth is primarily fueled by escalating demand for hydrogen as a clean energy source in countries such as China, Japan, and South Korea. Moreover, significant investments in renewable energies like solar and wind power are underway, ensuring abundant electricity availability for hydrogen production.

Furthermore, governments in the region actively support the promotion of hydrogen fuel as an alternative, offering incentives and support measures. This bolstering governmental support contributes significantly to the growth of the Asia-Pacific Water Electrolysis Market.

Global Water Electrolysis Industry Recent Development:

• 2023: Siemens Energy has revealed plans to commence the production of electrolysis modules (stacks) at the multi-gigawatt electrolyzer facility located in Berlin, aiming to scale up to a three-gigawatt production capacity by 2025.
• 2022: Cummins Inc. entered into a supply agreement with Hysetco for a 2.5-megawatt (MW) electrolyzer through its affiliate, Hydrogenics Europe N.V. This initiative by Hysetco is focused on establishing and operating the inaugural large-scale hydrogen mobility platform. The platform will seamlessly combine hydrogen production, distribution, and utilization, leveraging local hydrogen generation facilitated by an electrolyzer in Paris, France.

Current Landscape of Water Electrolysis Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Water Electrolysis market. The research report profiles major players, including

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• Audlong Machinery Manufacturing Co., Ltd.
• ThyssenKrupp AG
• Linde plc
• Siemens AG
• Plug Power Inc.
• Cummins Inc.
• Erre Due SpA
• Peak Scientific Instruments
• Asahi Kasei Corporation
• Nel ASA
• ITM Power Plc
• Enapter AG
• John Cockerill
• Proton Onsite
• Teledyne Technologies Inc.
• Others

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