Press release
Water Electrolysis Market Is Expected To Reach USD 11,426.8 Million By 2023
Water Electrolysis Market
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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Market Research Analysis:
Asia-Pacific is expected to dominate the water electrolysis market due to the increasing demand in countries such as India and China. China accounted for the largest market share of 47.02% in 2016 and is projected to grow at 7.84% during the forecast period. North America is expected to hold majority of the share of this market. Some of the major factors contributing to the growth of hydrogen market in North America include availability of cheap gas and improving demand from the end- markets growth in the chemical industry, which will accelerate the growth of the water electrolysis market.
Key Players:
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) and Peak Scientific (Scotland).
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.
By Technology
• Proton Exchange Membrane (PEM)
• Alkaline Water Electrolysis
• Solid Oxide Electrolyte (SOE)
By End-User
• Chemical Industry
• Petroleum Industry
• Pharmaceuticals Industry
• Power Plants
• Electronics & Semiconductors Industry
• Others
By Region
• North America
• Europe
• Asia Pacific
• Rest of the World
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Akash Anand,
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com
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