The water electrolysis machine market size is predicted to surpass around US$ 12.1 billion by 2030 and estimated to expand growth at a CAGR of 6.8% over the forecast period 2021 to 2030.
The rising demand for water electrolysis machines among end-use industries, including chemicals and petroleum is anticipated drive the water electrolysis machine market. Over the years, fuel cells and hydrogen have gained significant importance across different industries as a key solution to generate power and heat from a variety of primary energy sources. Hydrogen can be used in fuel cells to generate power using a chemical reaction rather than combustion, producing only water and heat as byproducts. Fuel cells are used in a wide range of products, ranging from very small fuel cells in portable devices such as mobile phones and laptops, through mobile applications such as cars, delivery vehicles, buses, and ships, to heat and power generators in stationary applications in the domestic and industrial sector. Future energy systems are expected to also include improved conventional energy converters running on hydrogen.
Furthermore, the global market for water electrolysis machines comprises some large scale and middle scale manufacturers focusing on product innovation and high-end technology development. Investments in strategic alliances and partnerships from key industry participants are projected to offer competitive advantage in the evolving global water electrolysis machine market. These partnerships have enabled companies to strengthen their technical expertise with improved production capacity. Moreover, the technical collaboration of industry participants is estimated to contribute to the rise in hydrogen generation projects, thus driving the global water electrolysis machine market.
Greenhouse Gas Emission with Power Grid Electricity Source
Hydrogen production with water electrolysis machine can result in zero GHG (greenhouse gas) emissions depending on the electricity source used. The electricity source, its cost, efficiency, and emissions resulting from electricity generation are the crucial factors while evaluating the economic viability and benefits of hydrogen production through water electrolysis machines. Power grid pathway for hydrogen production cannot be considered a viable option in many regions due to greenhouse gases released and the amount of fuel required due to the low efficiency of the electricity generation process. Delivering hydrogen at lower cost is a major challenge when it is produced from renewable sources.
The growth of the global water electrolysis machine market is likely to remain slower than the previous year due to the outbreak of the novel COVID-19 pandemic. The supply chain of raw materials and other critical components required to develop water electrolysis machines is largely disrupted due to the restrictions on transportation, cross-border trade, etc. The movement of non-essential goods was primarily restricted by governments around the world as a measure to curb the spread of the novel coronavirus. However, while the sales are projected to witness a steep fall during the first two quarters of 2020, the market is likely to show signs of recovery toward the last quarter of 2020. Market players are expected to focus on product development and research activities to gain a competitive edge in the market during the post COVID-19 era.
In terms of type, the water electrolysis machine market has been segmented into Proton Exchange Membrane (PEM), Alkaline Water Electrolysis, and others. During the forecast period, the market is anticipated to be dominated by the Proton Exchange Membrane (PEM) segment. In the report, based on input power, the water electrolysis machine market has been segmented into below 2 kW, 2 kW - 5 kW, and above 5 kW.
Based on hydrogen production, the water electrolysis machine market has been segmented into below 500, 500 – 2000, and above 2000. The below 500 segment is anticipated to expand at a significant growth rate during the forecast period.
In terms of application, the water electrolysis machine market has been categorized into chemical, petroleum, pharmaceuticals, power plants, electronics & semiconductors, steel plants, and others. The chemical segment is anticipated to expand at a higher pace. The growth of the chemical industry can be attributed not only to the large demand from applications such as ammonia and methanol production, but also in a wide variety of other chemical pathways that require hydrogen, including petroleum refining operations, and steel manufacturing.
The Asia Pacific region led the water electrolysis machine market in 2019, and the region is expected to retain its dominance during the forecast period. The exponential industrial growth in China coupled with the availability of cheaper water electrolysis machines is a key factor driving the overall Asia Pacific water electrolysis machine market.
Europe and North America are also projected to offer promising growth opportunity for the water electrolysis machine market. Apart from Asia Pacific, Middle East & Africa also significantly contributes to the overall growth of the global water electrolysis machine market.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global water electrolysis machine market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
Key players operating in the global water electrolysis machine market include Air Products and Chemicals, Inc., AREVA H2Gen, Asahi Kasei Corporation, C&E Environmental Technology Co., Ltd., Enagic International, Inc., Eneco Holdings, Inc., ErreDue spa, Hitachi Zosen Corporation, Hydrogenics Corporation, and ITM Power Plc.
By Input Power
By Hydrogen Production
This report focuses on water electrolysis machine market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall water electrolysis machine market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global water electrolysis machine market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global water electrolysis machine market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the water electrolysis machine market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of water electrolysis machine are as follows:
The research methodology adopted by analysts for compiling the global water electrolysis machine market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global water electrolysis machine market.
The study objectives of this report are:
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