Water Electrolysis Market 2018
Global Water Electrolysis Market Information Report by Technology (Alkaline Water Electrolysis and Proton Exchange Membrane), by End-User (Chemical Industry, Petroleum Industry, Pharmaceuticals Industry, Power Plants, Electronics & Semiconductor Industry, and Others), and by Region – Forecast to 2023
The global water electrolysis market is expected to reach USD 11,426.8 million by 2023 with 6.31% CAGR.
The key players in global water electrolysis market are ThyssenKrupp Ag (Germany), Linde AG (Germany), Air Products and Chemicals, Inc. (U.S.), Siemens AG (Germany), ProtonOnsite (U.S.), Teledyne Energy System Inc. (U.S.), Areva H2Gen (France), Hydrogenics Corporation (Canada), Erre Due s.p.a (Italy) andPeak Scientific (Scotland).
Electrolysis is the simplest method used for producing hydrogen in industries, such as chemicals, petroleum, glass, refineries, automotive, pharmaceutical, metals & mining, and others. Increase in use of water electrolysis in end-use industries and growing demand of carbon free source of energy, are pushing the market towards growth. Furthermore, increase in cost of water electrolyzer acts as a major restraint for the growth of market. The growing demand of hydrogen in countries such as China and India, is expected to drive the growth of water electrolysis market. Geographically, Asia-Pacific accounts for the largest share of 34.20% in the global water electrolysis market in 2016.
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Scope of the Report:
This study provides an overview of the global water electrolysis market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global water electrolysis market by technology, by end-user and by region.
The global water electrolysis market is expected to witness high growth during the forecast period. The growth of the water electrolysis market is mainly due to the increase in use of water electrolysis by end-user, growing demand of carbon free source of energy, and highly effective way of integrating renewables through power with gas facility. Water electrolysis is majorly used in chemical industry and petroleum industry. The growth in the chemical industry is expected to drive the water electrolysis market. The hydrogen that is produced through water electrolysis is free from carbon and environment friendly. This will increase the use of carbon free source of energy, which will drive the market.
The market is segmented on the basis of technology, end-user, and region. On the basis of technology, the market is segmented as alkaline water electrolysis and proton exchange membrane. Alkaline water electrolysis accounted for the largest market share and is projected to grow during the forecast period due to the increased use of this technology for large-scale hydrogen production. Based on end-users, chemical industry segment accounted for the largest market share during the forecast period due to increase use of water electrolysis by chemical industry. Petroleum accounted for the second largest segment due to the increased production and high investment in research and development.
The report for Global Water Electrolysis Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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