COVID-19 Outbreak to Moderately Affect Short-term Sales Of  Water Electrolysis Machine, Fact.MR Study

The water electrolysis machine market will reflect an impressive CAGR of 7% throughout the projected period, 2020-2030. The growth can be primarily attributed to extensive use in the downstream procedure of DNA and protein separation. The market will be majorly employed in the chemical sector, such as the manufacturing of ammonium and methanol fertilizers, along with extensive applications of hydrogen formation in the petroleum sector for treating crude oil. These devices are further likely to discover major roles in hydrogen generation for electronics, steel, and pharmaceutical applications.

“Increasing global demand for carbon-free, sustainable sources of energy, extending applications scope in several end-use sectors, and enhancements in the incorporation of renewables for power to gas facilities are prominent aspects that will propel the market growth over the assessment period." says the Fact.MR report.

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Key Takeaways

Asia Pacific is anticipated to remain the biggest market, however, North America will witness rapid growth throughout the forecast period.

Proton exchange membranes will be accounting for a larger market share over the forecast period.

The chemicals industry will remain dominant in the dominant application category by 2030 end.

The global water electrolysis machine market is expected to reach a market valuation of US$ 12 Bn towards 2030 end.

Driving Factors

Government policies for eco-friendly technologies and fuel cell r&d will offer critical expansion prospects for market players.

Advances in proton exchange membrane technology, along with ideal applications in variable temperature and high-pressure settings, are propelling the market growth.

Constraints

Low-cost delivery of hydrogen is a prominent challenge in the market when it is created from renewable sources.

An alternative for water electrolysis and the high cost associated with water electrolyzer is projected to decelerate the market growth.

Anticipated Market Impact by COVID-19 Outbreak

Several end-user sectors that are active in the water electrolysis machines market have been impacted by the COVID-19 outbreak, impacting the short-term demand. On the other hand, the market is anticipated to foresee stable recovery by 2021, as private and public investments towards hydrogen generation and renewables are likely to regain impulse in the near future.

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Competition Landscape

Key players identified in the global market are Kobel Co Eco-Solutions, Air Products and Chemicals Inc., AREVA H2Gen, C&E Environmental Technology Co. Ltd., Asahi Kasei Corporation, Toshiba Lifestyle Products & Services Corporation, ThyssenKrupp AG, Teledyne Technologies Inc., and Enagic.

More on the Report

The Fact.MR's market research report provides in-depth insights into the water electrolysis machine market. The market is scrutinized based on type (proton exchange membrane, alkaline water electrolysis, and others), input power (below kW, 2 kW - 5 kW, and above 5 kW), hydrogen production (below 500, 500 -2000, and above 2000), and application (chemicals, petroleum, steel plants, pharmaceuticals, electronics & semiconductors, power plants, and others), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).

Press Release: https://www.factmr.com/media-release/1711/global-water-electrolysis-machine-market 

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