Water Electrolysis Machine Market Overview
The water electrolysis machine market is expected to reflect a strong rise on the basis of value at a very healthy 7% CAGR for the period of 2020 to 2030. Water electrolysis machines are devices that are primarily used for clean generation of hydrogen, for applications in a wide range of commercial and research sectors.
Increased private investments and favorable government policies towards sustainable and renewable energy sources, and the application of hydrogen in chemicals, steel, petroleum, electronics & semiconductors, pharmaceuticals, electronics, and power generation, are key factors aiding the expansion of the global water electrolysis machine market size.
Water Electrolysis Machine Market Insights by Type
Water electrolysis machines are available in 2 key types – proton exchange membranes and alkaline water electrolysis, among others. Proton exchange membranes for water electrolysis are expected to remain dominant in terms of adoption throughout the assessment period. This process is highly sought-after as a source for high purity hydrogen used in energy storage and chemical sector applications.
Proton exchange membranes are projected to hold a relatively larger market share in comparison to that of alkaline water electrolysis processes in the water electrolysis machine market, on the back of benefits from differential pressure operations and the use of deionized water, which minimizes the crossover of hydrogen even in high pressure settings and in variable temperatures. This technology is gaining attention, especially for on-site hydrogen generation applications, which bodes well for the segment in the water electrolysis machine market space for the foreseeable future.
To gain in-depth insights on the sales prospects of different types of water electrolysis machines, request a report sample
Water Electrolysis Machine Market Insights by Application
Applications in the chemical sector are projected to reflect relatively faster growth in the water electrolysis machine market throughout the forecast period, in comparison to other end-use sectors such as steel, petroleum, electronics, pharmaceuticals, and power generation. Rising adoption of water electrolysis machines in the chemical industry can be attributed to extensive requirements of hydrogen generation in ammonia fertilizer production, iron ore reduction, and methanol production, in addition to fuel additive and fuel cell development.
Another major area of application for water electrolysis machines is the petroleum industry. Hydrogen applications in the processing and refining of crude oil have resulted in the adoption of water electrolysis technologies in large-scale plants that conventionally use hydrocarbon fuels and natural gas for their hydrogen needs.
Regional Outlook of Water Electrolysis Machine Market
Asia Pacific is projected to be the largest regional market with the highest water electrolysis machine market share through 2030. Growth of this market can be attributed to extensive industrial development in China and India, generating demand for high purity hydrogen. Also, lower costs of manufacturing and manpower to produce water electrolysis machines are expected to be beneficial for the Asia Pacific region in the global water electrolysis machine market in the long term.
North America is another fast-growing market, driven by hydrogen demand in the United States. Investments towards the development and production of hydrogen fuel cells, and favorable policies towards environment protection and energy security, are expected to drive demand for water electrolysis machines over the coming years.
For deeper understanding of the sales prospects of different water electrolysis machines across regional markets, ask an expert analyst
Water Electrolysis Machine Market: Competitive Landscape
The global water electrolysis machine market is moderately consolidated in nature, owing to the presence of a number of large- and medium-scale manufacturers. Some of the more prominent participants in the water electrolysis machine market are Air Products and Chemicals Inc., Kobel Co Eco-Solutions, AREVA H2Gen, Toshiba Lifestyle Products & Services Corporation, Asahi Kasei Corporation, ThyssenKrupp AG, C&E Environmental Technology Co. Ltd., Teledyne Technologies Inc., and Enagic, among others.
Leading market players in the industry are largely channelizing their resources towards the development of new water electrolysis technology offerings, in addition to strategic collaborations and acquisitions to consolidate their market share.
- For instance Tyssenkrupp has unveiled its proprietary water electrolysis technology, aimed at power plant operations in collaboration with E.ON for virtual power plants for operators to link to the German electricity industry. The company has also entered a strategic cooperation agreement with Air Products and Chemicals Inc. for the development of world-scale green hydrogen generation projects.
- In April 2020, Asahi Kasei Corporation initiated a project for hydrogen supply in Namie Futuba, Fukushima, with a massive energy scale of 10 MW, in collaboration with Toshiba Energy Systems & Solutions Corp. The company has also collaborated with Tohoku Electric Power Co. Inc. and Iwatani Corp for hydrogen technology development projects.
COVID-19 Impact on Water Electrolysis Machine Market
Many end-user sectors that operate water electrolysis machines have been impacted by the coronavirus pandemic, hindering short-term demand. Strict lockdowns and restrictions imposed by governments have impacted the supply chains for essential raw materials and components. Further, restricted international trade, especially in terms of non-essential commodities, will hurt the prospects of the water electrolysis machine market throughout the crisis.
On the other hand, the water electrolysis machine market is projected to witness steady recovery in 2021, as public and private investments towards renewables and hydrogen generation are expected to regain impetus in the near future.
The Analyst’s Viewpoint
“Rising global demand for sustainable, carbon-free sources of energy, widening scope of applications for water electrolysis in multiple end-use sectors, and improvements in the integration of renewables for power to gas facilities are key factors that will drive the growth of the water electrolysis machine market throughout the forecast period.”
Global Water Electrolysis Machine Market: Scope of the Report
A new report on the global water electrolysis machine market published by Fact.MR provides a 10-year forecast for the period of 2020 to 2030. The report encompasses essential drivers, restraints, opportunities, and threats to the rise of the global water electrolysis machine industry. An in-depth segmented analysis on the basis of type input power, hydrogen production, application, and region has been incorporated in the study.
Regional analysis on the basis of business execution, supply chain analysis, and market value analysis provides a detailed perspective about the future developments of the water electrolysis machine market. Furthermore, a section on the structure of the market has also been added. This section gives details on major market players and their strategies for growth in the water electrolysis machine market.
Water Electrolysis Machine Market - Scope of the Report
Fact.MR has recently published a market report on the global water electrolysis machine market. The study provides comprehensive assessment on major market dynamics, such as the drivers, trends, opportunities, restraints, and other important information on the water electrolysis machine market structure. The study provides exclusive information on how the water electrolysis machine market will develop for the duration of the forecast period of 2020 to 2030.
Critical indicators of market growth, such as Year-on-Year (Y-o-Y) growth of the market, supply chain analysis, value chain, and Compounded Annual Growth Rate (CAGR) are discussed in detail. This information can aid readers in understanding the quantitative growth factors influencing the water electrolysis machine market during the forecast period.
The study can be helpful for stakeholders in the water electrolysis machine market, including suppliers, manufacturers, investors, and distributors, assisting in the development of appropriate growth strategies. Investors, researchers, industry experts, and journalists, in addition to business researchers, can make use of the information and data given in this Fact.MR study.
The study also covers statistics and facts on the macro- and micro-economic factors that are influencing developments in the water electrolysis machine market. It also provides actionable insights on the future trends in the water electrolysis machine industry. Also, small-scale players and new entrants in the water electrolysis machine market can leverage the data presented in this study, for making appropriate business decisions to gain traction in the global water electrolysis machine market.
Key Segments of Water Electrolysis Machine Market
Fact.MR’s report on the water electrolysis machine market offers information classified into five major segments — type, input power, hydrogen production, application, and region. This report offers detailed data about essential market dynamics and growth parameters that are relevant to these categories.
Key Questions Answered in Fact.MR’s Water Electrolysis Machine Market Report
- Which regions will remain the most profitable regional markets for water electrolysis machine market players?
- Which factors will induce a change in the demand for water electrolysis machines during the assessment period?
- How will changing trends impact the progress of the water electrolysis machine market?
- How can market players capture the low-hanging opportunities in the water electrolysis machine market in developed regions?
- Which companies are leading the water electrolysis machine market?
- What are the winning strategies of stakeholders in the water electrolysis machine market to upscale their position in this landscape?
- What is the impact of the COVID-19 pandemic on the global water electrolysis machine market?
Water Electrolysis Machine Market: Research Methodology
In Fact.MR’s study, a unique research methodology is used to conduct extensive research on the growth of the water electrolysis machine market, reaching conclusions on the future parameters of growth for the market. This research methodology is a combination of primary and secondary research, which aids analysts in making use of accurate and reliable conclusions for the study.
Secondary resources covered by analysts during the preparation of the water electrolysis machine market report include statistics from trade journals, governmental organizations, internal and external proprietary databases, and white papers. Analysts have interviewed product portfolio managers, senior managers, VPs, CEOs, market intelligence managers, and marketing/product managers, all of whom have contributed to the development of the water electrolysis machine report as a primary resource.
Fact.MR offers custom research services that help clients to get specific research solutions
We are committed towards customer satisfaction and quality service.