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Water Electrolysis Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
Water Electrolysis Market Statistics 2028The global Water Electrolysis market size is estimated to be worth US$ 263.4 million in 2022 and is forecast to a readjusted size of US$ 733.1 million by 2028 with a CAGR of 18.6% during the review period. Key drivers of the water electrolysis market include the growing use in various end-user industry verticals.
The demand for carbon-free sources of energy and the rise of hydrogen-based energy infrastructure will propel the growth of the water electrolysis market in the coming years. Moreover, The rapid integration of renewable energy from power to gas will augment market growth during the forecast period.
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Water Electrolysis Market Trends
Extensive use in various industry verticals
Water electrolysis is used widely in a variety of industries. It is a mature technology used in the power, metallurgy, food, steel, petroleum, and electrical industry. Moreover, water electrolysis has the potential to emerge as a key factor in the chemical, heating, and mobility sector. The sustainable energy ecosystem will create lucrative opportunities for the growth of the water electrolysis market in the future.
Rise of green hydrogen
Electrolysis is a leading production method for generating clean hydrogen. This will lead to a reduction in greenhouse gas emissions. The current electricity generation method is not feasible anymore as it leads to pollution. Hydrogen generated through electrolysis is being developed for the creation of renewable and nuclear energy sources. Although the cost factor and fuel efficiency need to be considered massive R&D activities are currently going on in this field. This is turn is expected to drive the growth of the water electrolysis market during the forecast period.
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Water Electrolysis Market By Type
• Traditional Alkaline Electroliser
• PEM Electroliser
Water Electrolysis Market By Application
• Power Plants
• Steel Plant
• Electronics and Photovoltaics
• Industrial Gases
• Energy Storage or Fueling for FCEV's
• Power to Gas
• Others
Water Electrolysis Market By Company
• 718th Research Institute of CSIC
• Proton On-Site
• Hydrogenics
• Teledyne Energy Systems
• Suzhou Jingli
• McPhy
• TianJin Mainland
• Siemens
• Nel Hydrogen
• Toshiba
• Yangzhou Chungdean Hydrogen Equipment
• Areva H2gen
• ITM Power
• Idroenergy Spa
• Erredue SpA
• Kobelco Eco-Solutions
• ShaanXi HuaQin
• EM Solution
• Beijing Zhongdian
• H2B2
• Elchemtech
• Asahi Kasei
• Verde LLC
• Thyssenkrupp
• Cummins
• Elogen
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