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Water Electrolysis Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Water Electrolysis Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Water Electrolysis Market: By Type (Proton Exchange Membranes, Alkaline Water Electrolysis, Others), By End-Use Industry (Chemicals, Petroleum, Pharmaceuticals, Power Plants, Electronics & Semiconductors, Steel Plants, Others) and Geography

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Report

Description

Water Electrolysis Market size is valued at USD 10.0 billion in 2021. It is expected to reach a value of USD 14.5 billion by 2028, growing at a CAGR of 5.6% during the forecast period from 2022 to 2028. The global market provides a detailed overview of the market, which has been segmented by type and end-use industry. By Type, the Water Electrolysis market has been segmented into Proton Exchange Membranes, Alkaline Water Electrolysis, and Others. The Proton Exchange Membranes segment is likely to be the largest and fastest-growing segment in terms of Type. Based on the End-use Industry, the Water Electrolysis market is segmented into Chemicals, Petroleum, Pharmaceuticals, Power Plants, Electronics & Semiconductors, Steel Plants, and Others. According to precision business insights, the Power Plants and Chemicals segments are anticipated to hold significant market shares over the forecast period.

Key Development:

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.

Water Electrolysis Market

MARKET SUMMARY
-
5.6% CAGR
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 5.6%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– Europe
Water Electrolysis Market

  • The water electrolysis market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The water electrolysis market is segmented based on by type, end user and geography.
Key Players
  • HyGear
  • Peak Scientific
  • Siemens Gamesa
  • Eneco Holdings Inc.
  • Teledyne Technologies Inc.
Water Electrolysis Market Drivers

Increased water electrolysis in end-use industries, the growing need for a carbon-free energy source, and the highly effective manner of integrating renewables through the power to the gas plant are the major factors driving the rise of the Water Electrolysis market.

Europe Got Significant Share

Water Electrolysis Market

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East
Key

Features of the Report

  • The water electrolysis market report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Water Electrolysis Market Segmentation

segmentation-block-image

By Type

    • Proton Exchange Membranes,
    • Alkaline Water Electrolysis,
    • Others
segmentation-block-image

By end user

    • Chemicals,
    • Petroleum,
    • Pharmaceuticals,
    • Power Plants,
    • Electronics & Semiconductors,
    • Steel Plants,
    • Others
segmentation-block-image

By Geography

    • North America,
    • Europe,
    • Asia Pacific,
    • Latin America and
    • Middle East and Africa.
Location

GEOGRAPHY

Frequently Asked Questions

The Water Electrolysis Market is projected to expand at a CAGR of 5.6% during the forecast period.

The major global Water Electrolysis market players are Teledyne Energy Systems, Hydrogenics, Nel Hydrogen, Suzhou Jingli, Beijing Zhongdian, McPhy, Siemens, TianJin Mainland, Areva H2gen, and Shandong Saksay Hydrogen Energy.

Europe is the fastest-growing region for Water Electrolysis Market

Report

Table Of Content

1. Executive Summary
2. Global Water Electrolysis Market Introduction
2.1. Global Water Electrolysis Market – Taxonomy
2.2. Global Water Electrolysis Market –Definitions
2.2.1. By Type
2.2.2. By End-Use Industry
2.2.3. By Region
3. Global Water Electrolysis Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Water Electrolysis Market Dynamic Factors – Impact Analysis
3.6. Global Water Electrolysis Market – Competition Landscape
4. Global Water Electrolysis Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Water Electrolysis Market, By Type, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1. Proton Exchange Membranes
5.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Alkaline Water Electrolysis
5.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Others
5.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
6. Global Water Electrolysis Market, By End Use Industry, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1. Chemicals
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Petroleum
6.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Pharmaceuticals
6.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. Power Plants
6.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
6.5. Electronics & Semiconductors
6.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.5.3. Market Opportunity Analysis
6.6. Steel Plants
6.6.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.6.3. Market Opportunity Analysis
6.7. Others
6.7.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.7.3. Market Opportunity Analysis
7. Global Water Electrolysis Market Forecast, By Region, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1. North America
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Europe
7.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Asia-Pacific
7.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Latin America
7.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Middle East and Africa
7.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Global Water Electrolysis Market – Opportunity Analysis Index, By Type, End-Use Industry, and Region, 2022 – 2028
8. North America Water Electrolysis Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1. Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
8.1.1. Proton Exchange Membranes
8.1.2. Alkaline Water Electrolysis
8.1.3. Others
8.2. End Use Industry Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
8.2.1. Chemicals
8.2.2. Petroleum
8.2.3. Pharmaceuticals
8.2.4. Power Plants
8.2.5. Electronics & Semiconductors
8.2.6. Steel Plants
8.2.7. Others
8.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
8.3.1. USA
8.3.2. Canada
8.4. North America Water Electrolysis Market – Opportunity Analysis Index, By Type, End Use Industry, End-Use Industry, and Country, 2022 – 2028
8.5. North America Water Electrolysis Market Dynamics – Trends
9. Europe Water Electrolysis Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.1. Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Proton Exchange Membranes
9.1.2. Alkaline Water Electrolysis
9.1.3. Others
9.2. End Use Industry Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Chemicals
9.2.2. Petroleum
9.2.3. Pharmaceuticals
9.2.4. Power Plants
9.2.5. Electronics & Semiconductors
9.2.6. Steel Plants
9.2.7. Others
9.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.3.1. Germany
9.3.2. UK
9.3.3. France
9.3.4. Spain
9.3.5. Italy
9.3.6. Russia
9.3.7. Rest of Europe
9.4. Europe Water Electrolysis Market – Opportunity Analysis Index, By Type, End Use Industry, and Country, 2022 – 2028
9.5. Europe Water Electrolysis Market Dynamics – Trends
10. Asia-Pacific Water Electrolysis Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
10.1. Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Proton Exchange Membranes
10.1.2. Alkaline Water Electrolysis
10.1.3. Others
10.2. End Use Industry Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Chemicals
10.2.2. Petroleum
10.2.3. Pharmaceuticals
10.2.4. Power Plants
10.2.5. Electronics & Semiconductors
10.2.6. Steel Plants
10.2.7. Others
10.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.3.1. China
10.3.2. India
10.3.3. Japan
10.3.4. ASEAN
10.3.5. Australia & New Zealand
10.3.6. Rest of Asia-Pacific
10.4. Asia-Pacific Water Electrolysis Market – Opportunity Analysis Index, By Type, End Use Industry, and Country, 2022 – 2028
10.5. Asia-Pacific Water Electrolysis Market Dynamics – Trends
11. Latin America Water Electrolysis Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
11.1. Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Proton Exchange Membranes
11.1.2. Alkaline Water Electrolysis
11.1.3. Others
11.2. End Use Industry Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Chemicals
11.2.2. Petroleum
11.2.3. Pharmaceuticals
11.2.4. Power Plants
11.2.5. Electronics & Semiconductors
11.2.6. Steel Plants
11.2.7. Others
11.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.3.1. Brazil
11.3.2. Mexico
11.3.3. Rest of Latin America
11.4. Latin America Water Electrolysis Market – Opportunity Analysis Index, By Type, End Use Industry, and Country, 2022 – 2028
11.5. Latin America Water Electrolysis Market Dynamics – Trends
12. Middle East and Africa Water Electrolysis Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
12.1. Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Proton Exchange Membranes
12.1.2. Alkaline Water Electrolysis
12.1.3. Others
12.2. End Use Industry Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Chemicals
12.2.2. Petroleum
12.2.3. Pharmaceuticals
12.2.4. Power Plants
12.2.5. Electronics & Semiconductors
12.2.6. Steel Plants
12.2.7. Others
12.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.3.1. Gulf Cooperation Council (GCC) Countries
12.3.2. South Africa
12.3.3. Rest of MEA
12.4. MEA Water Electrolysis Market – Opportunity Analysis Index, By Type, End Use Industry, and Country, 2022 – 2028
12.5. MEA Water Electrolysis Market Dynamics – Trends
13. Competition Landscape
13.1. Strategic Dashboard of Top Market Players
13.2. Company Profiles (Introduction, Financial Analysis, Type Offerings, Key Developments, Strategies, and SWOT Analysis)
13.2.1. Asahi Kasei Corporation
13.2.2. Enagic International Inc.
13.2.3. Eneco Holdings Inc.
13.2.4. Hydrogenics Corporation
13.2.5. HyGear
13.2.6. Industrie De Nora S.p.A
13.2.7. ITM Power Plc
13.2.8. Nel ASA
13.2.9. Peak Scientific
13.2.10. Siemens Gamesa
13.2.11. Teledyne Technologies Inc.
13.2.12. Thyssenkrupp Uhde Chlorine Engineers
13.2.13. Toshiba Energy Systems & Solutions Corporation
14. Research Methodology
15. Key Assumptions and Acronyms
Report

Company Profile

  • Asahi Kasei Corporation
  • Enagic International Inc.
  • Eneco Holdings Inc.
  • Hydrogenics Corporation
  • HyGear
  • Industrie De Nora S.p.A
  • ITM Power Plc
  • Nel ASA
  • Peak Scientific
  • Siemens Gamesa
  • Teledyne Technologies Inc.
  • Thyssenkrupp Uhde Chlorine Engineers
  • Toshiba Energy Systems & Solutions Corporation

Description

Water Electrolysis Market size is valued at USD 10.0 billion in 2021. It is expected to reach a value of USD 14.5 billion by 2028, growing at a CAGR of 5.6% during the forecast period from 2022 to 2028. The global market provides a detailed overview of the market, which has been segmented by type and end-use industry. By Type, the Water Electrolysis market has been segmented into Proton Exchange Membranes, Alkaline Water Electrolysis, and Others. The Proton Exchange Membranes segment is likely to be the largest and fastest-growing segment in terms of Type. Based on the End-use Industry, the Water Electrolysis market is segmented into Chemicals, Petroleum, Pharmaceuticals, Power Plants, Electronics & Semiconductors, Steel Plants, and Others. According to precision business insights, the Power Plants and Chemicals segments are anticipated to hold significant market shares over the forecast period.

Key Development:

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.

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