Water Electrolysis Market, By Technology (Alkaline Water Electrolysis and Proton Exchange Membrane), By End-User (Chemical Industry, Petroleum Industry, Pharmaceuticals Industry, Power Plants, Electronics and Semiconductor Industry, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI87719 | Publish Date: April 2024 | No. of Pages: 167

Global Water Electrolysis Market By Overview

Introduction:

Water Electrolysis Market was valued at US$ 659.7 Million in 2024 and is projected to grow at a CAGR of 31.10% to reach US$ 9693.4 Million by 2034.

Water Electrolysis is the process in which water splits into oxygen and hydrogen by electrical energy application where oxygen is formed at anode (positive terminal) and hydrogen is formed at cathode (negative terminal).

Growing demand for eco-friendly technologies has become major factor in target market growth. Growing semiconductor production and low-carbon hydrogen production is expected to provide lucrative opportunities in Water Electrolysis market growth in coming years.

Global Water Electrolysis Market By Dynamics

Growing demand for eco-friendly technologies to fuel market growth

Growing demand for eco-friendly technologies has become major factor in market growth. Water electrolysis has become major component of future energy systems to achieve hydrogen production with zero carbon emission which in turn, facilitated the demand for Water Electrolysis market growth.

For instance, according to (Hitachi, Ltd.), Hitachi has set to pursue research and development activities to achieve low cost and large scale water electrolysis hydrogen production system by combining Hitachi’s Energy Power Systems, water electrolysis control technologies and high voltage technologies. This production will provide support to stable the supply of renewable energy and hydrogen production.

Restrains:

However, lots of energy is required in separating water into oxygen and hydrogen which hampered the target market. Lots of electricity is required which adds cost in production which in turn, restrained the Water Electrolysis market growth.

Access Crucial Insights at a Fraction of the Cost | Request Your Discount

Global Water Electrolysis Market By Segmentation

Water Electrolysis Market is segmented based on Technology, End-User and Region.

Technology Insight

On the basis of Technology, Water Electrolysis Market is segmented into Alkaline Water Electrolysis and Proton Exchange Membrane. The Alkaline Water Electrolysis segment is estimated to dominate the target market growth as alkaline water electrolysis has been widely used and established in various industries, including hydrogen production for industrial applications and large-scale energy storage systems.

End-User Insights

On the basis of End-User, Water Electrolysis Market is segmented into Chemical Industry, Petroleum Industry, Pharmaceuticals Industry, Power Plants, Electronics and Semiconductor Industry, and Others. The Power Plants segment holds the largest market share during the forecast period as Power plants often utilize water electrolysis to produce hydrogen gas as a means of energy storage or for various applications within the power generation process.

Regional Insights:

On region the Water Electrolysis Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period. Moreover, growing demand for green fertilizers, investment and initiative of government in hydrogen-fueled vehicles, is anticipated to increase demand for Water Electrolysis in the region.

Reduce costs by up to 30% with a custom report tailored to your specific needs | Request Customized Report

Report Scope:

Attribute	Details
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Million& CAGR from 2024 to 2034
Market Segmentation	By Technology - Alkaline Water Electrolysis and Proton Exchange Membrane By End-User - Chemical Industry, Petroleum Industry, Pharmaceuticals Industry, Power Plants, Electronics and Semiconductor Industry, and Others
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Water Electrolysis Market report based on Technology, End-User and Region:

Water Electrolysis Market, By Technology:

Alkaline Water Electrolysis
Proton Exchange Membrane

Water Electrolysis Market, By End-User:

Chemical Industry
Petroleum Industry
Pharmaceuticals Industry
Power Plants
Electronics and Semiconductor Industry
Others

Water Electrolysis Market, By Region:

North America
- Middle East & Africa
  - - GCC
    - Israel
    - South Africa
    - Rest of Middle East & Africa
- Latin America
  - - Brazil
    - Mexico
    - Rest of Latin America
- Asia Pacific
  - - China
    - India
    - Japan
    - South Korea
    - Rest of Asia Pacific
- Europe
  - - Germany
    - UK
    - France
    - Russia
    - Italy
    - Rest of Europe
- - U.S.
  - Canada

Global Water Electrolysis Market By Key Players

The key players operating the Water Electrolysis Market includes, ThyssenKrupp Ag., Linde AG., Air Products and Chemicals, Inc., Siemens AG., ProtonOnsite, Teledyne Energy System Inc., Areva H2Gen, Hydrogenics Corporation, Erre Due s.p.a., and Peak Scientific.

Global Water Electrolysis Market By Key Issues Addressed

Recent Development:

In September 2022, Verdagy launched new commercial electrolyzer module “eDynamic” water electrolysis technology to demonstrate low-cost green hydrogen at scale. New launched three-cell 500 Kw module incorporate largest AEM (Anion Exchange Membrane) in the world.
In August 2021, Ohmium launched India’s first new green hydrogen electrolyzer gigafactory at Benglauru with manufacturing capacity of 500 MW per year. New launched gigafactory will produce PEM (Proton Exchange Membrane) hydrogen electrolyzer and will able to scale up 2 GW per year.

Global Water Electrolysis Market By Company Profile

ThyssenKrupp Ag*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies

Linde AG
Air Products and Chemicals, Inc.
Siemens AG
ProtonOnsite
Teledyne Energy System Inc.
Areva H2Gen
Hydrogenics Corporation
Erre Due s.p.a.
Peak Scientific

“*” marked represents similar segmentation in other categories in the respective section

Global Water Electrolysis Market By Table of Contents

Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
Research Methodology
- Research data
- Primary Data
  - Primary Interviews
  - Primary Breakdown
  - Key data from Primary Sources
  - Key Thickness Insights
- Secondary Data
  - Major Secondary Sources
  - Secondary Sources
- Market Estimation
- Top-Down Approach
  - Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
  - Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
  - Key Questions this Study will Answer
  - Market Snippet, By Technology
  - Market Snippet, By End-User
  - Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
  - Drivers
  - Restrains
  - Market Opportunities
  - Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
Market Segmentation, By Technology, Forecast Period up to 10 Years, (US$ Bn)

Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
Alkaline Water Electrolysis
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Proton Exchange Membrane
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By End-User, Forecast Period up to 10 Years, (US$ Bn)

Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
Chemical Industry
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Petroleum Industry
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Pharmaceuticals Industry
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Power Plants
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Electronics and Semiconductor Industry
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
- Overview
  - Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  - Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  - Regional Trends
- North America
  - Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By End-User Type, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    - U.S.
    - Canada
- Europe
  - Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By End-User Type, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    - UK
    - France
    - Germany
    - Russia
    - Italy
    - Rest of Europe
- Asia Pacific
  - Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By End-User Type, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    - India
    - Japan
    - South Korea
    - China
    - Rest of Asia Pacific
- Latin America
  - Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By End-User Type, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    - Brazil
    - Mexico
    - Rest of Latin America
- Middle East & Africa
  - Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By End-User Type, Forecast Period up to 10 Years
  - Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    - GCC
    - Israel
    - South Africa
    - Rest of Middle East
Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
Company Profiles

ThyssenKrupp Ag*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies

Linde AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Air Products and Chemicals, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Siemens AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
ProtonOnsite
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Teledyne Energy System Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Areva H2Gen
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Hydrogenics Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Erre Due s.p.a.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Peak Scientific
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies

The Last Word
- Future Impact
- About Us
- Contact

FAQs

What is the scope of the Water Electrolysis Market research report?

The Water Electrolysis Market is segmented into Technology, End-User and Region.

What are the growing factors related with the Water Electrolysis Market growth?

Water Electrolysis Market is driven by factors like growing demand for eco-friendly technologies.

What are the regions considered in the report & which region will dominate the Water Electrolysis Market?

By region, the Water Electrolysis market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period.

What are the leading Key players in the Water Electrolysis Market?

How big is the Water Electrolysis Market?

Water Electrolysis Market accounted for US$ 659.7 Million in 2024 and is estimated to be US$ 9693.4 Million by 2034 and is anticipated to register a CAGR of 31.10%.

Healthcare

Information and Technology

Electronics

Chemicals and materials

Others