Water electrolysis is a well-established technology that has been used for almost one century for miscellaneous applications in the industry such as food industry, power plants, metallurgy, etc. Nowadays, it is also considered a key process that can be used for the production of high-purity hydrogen from water and renewable energy sources. The global Water Electrolysis Market is foreseen to grow at a sturdy pace in the years to follow. The market rise attributes to the growing uptake of high energy density fuel cell systems and increasing green hydrogen generations. As well, growing awareness of the benefits of hydrogen fuel in transport and mobility escalates the growth of the market.
Furthermore, increasing uses of water electrolysis processes to integrate renewables through the power to the gas facility intensify the growth of the market. Also, developments in advanced power saving solutions, digital power management, and control technologies positively impact the water electrolysis market. Further, government initiatives focusing on improving earnings measures by expanding product range and targeted investments in energy markets drive the growth of the market. In addition, increasing government investments in the current hydrogen production system escalate the growth of the market. The massive demand for a clean and efficient mode of energy like wind power that directly generates electricity through wind turbines or by water electrolysis boosts the growth of the market. In addition, developments in basic wind energy-hydrogen system structures impact the market share positively.
On the downside, the availability of water electrolysis substitutes and increased cost of water electrolyzer are the major factor that restraining the growth of the market.
Covid-19 Impact on Water Electrolysis Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Water Electrolysis Market Segment Overview
Based on the Product Category, the Alkaline Water Electrolysis segment accounts for the largest share in the global Water Electrolysis market. Alkaline water electrolysis is one of the easiest methods for hydrogen production although it is a relatively expensive technology. If relatively small quantities of hydrogen are required, on-site electrolysis of water may result more economically than other methods. This technique is very clean and produces more than 99.989% purity of hydrogen gas. According to End-User, the Chemicals is the largest segment in the market. This is due to the huge adoption of the water electrolysis process in the speedily expanding chemical sectors worldwide
Water Electrolysis Market, By Product Category
· Proton Exchange Membrane
· Alkaline Water Electrolysis
Water Electrolysis Market, By End-User
· Chemicals
· Electronics & Semiconductors
· Power Plants
· Petroleum
· Pharmaceuticals
· Others
Water Electrolysis Market Regional Overview
Based on geography, North America dominates the global Water Electrolysis market. The US is the most important place for market development because the US has maintained and developed specific codes and standards to ensure that hydrogen and fuel cell products are safe and environment-friendly. Furthermore, the largest market share attributes to several innovative implementations for the use of hydrogens, such as hydrogen-powered buses and hydrogen-powered forklifts in retail stores in this region. Likewise, the Asia Pacific region is expected to have a major share of the Water Electrolysis market in the forecast period. The market is mainly driven by increasing technological advances and focuses on using renewable energy sources across the industry verticals. Moreover, stringent government regulation to reduce carbon footprint in the local region contributes more to the market’s development in this region.
Water Electrolysis Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Water Electrolysis Market Competitor overview
Some key developments and strategies adopted by manufacturers in Water Electrolysis are highlighted below.
· In September 2021, China Petroleum & Chemical Corporation (Sinopec), a Chinese oil and gas company, has launched its first megawatt-level electrolysis based hydrogen production demonstration project in Zhongyuan Oilfield, Henan province, China. The project will include installing a proton-exchange membrane (PEM) electrolyser, which will produce hydrogen through water electrolysis without any emissions. It will have a capacity of 2.5 MW with the ability to produce around 1.12 tonnes/day of ultra-pure hydrogen. The PEM electrolyser will ensure a hydrogen purity level of about 99.9995%. The project is expected to be complete by September 2022.
· In May 2021, Chinese state-controlled oil giant Sinopec said it expects to launch its first green hydrogen project, a zero-carbon fuel generated from renewable energy sources, in the Inner Mongolia region in 2022.
Water Electrolysis Market, Key Players
· Linde AG
· ThyssenKrupp AG
· Air Products and Chemicals, Inc.
· ProtonOnsite
· Siemens AG
· Teledyne Energy Systems Inc.
· Hydrogenics Corporation
· AREVA H2Gen
· Peak Scientific
· Erre Due SpA
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Water Electrolysis Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product Category
- 5.2.1. Proton Exchange Membrane
- 5.2.2. Alkaline Water Electrolysis
- 5.3. Market Analysis, Insights and Forecast – By End-User
- 5.3.1. Chemicals
- 5.3.2. Electronics & Semiconductors
- 5.3.3. Power Plants
- 5.3.4. Petroleum
- 5.3.5. Pharmaceuticals
- 5.3.6. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Water Electrolysis Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product Category
- 6.2.1. Proton Exchange Membrane
- 6.2.2. Alkaline Water Electrolysis
- 6.3. Market Analysis, Insights and Forecast – By End-User
- 6.3.1. Chemicals
- 6.3.2. Electronics & Semiconductors
- 6.3.3. Power Plants
- 6.3.4. Petroleum
- 6.3.5. Pharmaceuticals
- 6.3.6. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Water Electrolysis Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product Category
- 7.2.1. Proton Exchange Membrane
- 7.2.2. Alkaline Water Electrolysis
- 7.3. Market Analysis, Insights and Forecast – By End-User
- 7.3.1. Chemicals
- 7.3.2. Electronics & Semiconductors
- 7.3.3. Power Plants
- 7.3.4. Petroleum
- 7.3.5. Pharmaceuticals
- 7.3.6. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Water Electrolysis Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product Category
- 8.2.1. Proton Exchange Membrane
- 8.2.2. Alkaline Water Electrolysis
- 8.3. Market Analysis, Insights and Forecast – By End-User
- 8.3.1. Chemicals
- 8.3.2. Electronics & Semiconductors
- 8.3.3. Power Plants
- 8.3.4. Petroleum
- 8.3.5. Pharmaceuticals
- 8.3.6. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Water Electrolysis Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product Category
- 9.2.1. Proton Exchange Membrane
- 9.2.2. Alkaline Water Electrolysis
- 9.3. Market Analysis, Insights and Forecast – By End-User
- 9.3.1. Chemicals
- 9.3.2. Electronics & Semiconductors
- 9.3.3. Power Plants
- 9.3.4. Petroleum
- 9.3.5. Pharmaceuticals
- 9.3.6. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Linde AG
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. ThyssenKrupp AG
- 10.6. Air Products and Chemicals, Inc.
- 10.7. ProtonOnsite
- 10.8. Siemens AG
- 10.9. Teledyne Energy Systems Inc.
- 10.10. Hydrogenics Corporation
- 10.11. AREVA H2Gen
- 10.12. Peak Scientific
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
