DUBAI, United Arab Emirates, March 15, 2022 (GLOBE NEWSWIRE) — The global water electrolysis machine market has been slightly impacted by the coronavirus pandemic. According to a new report from Future Market Insights (FMI), the industry is worth over $11.71 billion in 2022 and is expected to grow at a healthy CAGR of 7.7% through 2030. Innovations in crude oil processing applications will support the development of the market.
|Water Electrolyzer Market Size (2022)||$11.71 billion|
|Sales Forecast (2030)||$21.26 billion|
|Global Market Growth Rate (2022 to 2030)||7.7% CAGR|
|Share of Top 5 Market Players||50||%|
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Despite the steady rise of the water electrolysis machine market, high capital cost and high level of electricity consumption restrain the market growth.
Key Takeaways of the Water Electrolyzer Market
- The water electrolysis machine market size is expected to exceed USD 10.2 billion by the end of 2020, with renewable energy and chemical applications being the driving factors for the industry.
- Alkaline water electrolyzers will see high demand, while PEM options are also likely to reflect steady growth in more efficient electrolysis processes.
- Products of 500 to 2000 L/Hr in the water electrolyzer market reflect relatively high demand due to reduced hydrogen crossover risk.
- East Asia is a prominent regional market, reflecting relatively fast growth in adoption due to the larger scope of industrial applications in China and Japan.
“Higher government investment and favourable policies in the development of sustainable, renewable energy sources and the use of hydrogen in steel, chemicals, electronics and semiconductors, oil, electronics, pharmaceuticals and power generation are major factors driving the growth of the global water electrolyzer market,” said FMI chief analyst.
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Impact of COVID-19 on Water Electrolyzer Market
The growth of the water electrolysis machine market is expected to moderate slightly from previous years due to the ongoing coronavirus pandemic. Restrictions on transportation, logistics and trade have disrupted the supply chain of raw materials and components necessary for the operation of water electrolyzers.
Restrictions on non-essential goods also hurt market growth. The market may start to recover by the end of 2020. The focus on research activities and product development may help market players to capitalize on growth opportunities in the post-pandemic era.
Water Electrolyzer Market by Type:
- proton exchange membrane
- alkaline water electrolysis
Water Electrolyzer Market by Input Power:
- Water electrolyzer below 5MW
- 5-10 MW Water Electrolyzer
- More than 10MW water electrolysis machine
Hydrogen production water electrolyzer market:
- Water electrolysis machine below 500 liters/hour
- 500 – 2000 L/Hr Water Electrolyzer
- More than 2000 liters / hour water electrolysis machine
Water Electrolyzer Market by End Use:
- power plant
- Electronics and Semiconductors
- Steel Plant
Water Electrolyzer Market by Region:
- North America Water Electrolyzer Market
- Latin America Water Electrolyzer Market
- European Water Electrolyzer Market
- East Asian water electrolysis machine market
- South Asia and Pacific Water Electrolyzer Market
- Middle East and Africa (MEA) Water Electrolyzer Market
Ask us about this report: https://www.futuremarketinsights.com/ask-question/rep-gb-12823
Future Market Insights’ market research provides in-depth details on key business strategies that are influencing the Water Electrolysis Machines market. In addition to strengthening market positions through product development efforts, key players in the industry have been focusing on strategic acquisitions and collaborations.
Air Products & Chemicals Inc., Toshiba Energy Systems & Solutions Corp., Nel ASA, Thyssenkrupp Uhde Chlorine Engineers GmbH, AREVA H2Gen, Teledyne Technologies Inc., Asahi Kasei Corp., Kobelco Eco-Solutions Co. Ltd., C&E Environmental Technology Co . . Ltd. is a major company operating in the water electrolysis machine market.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and advisory services, serving clients in more than 150 countries. FMI is headquartered in Dubai with delivery centers in the UK, US and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity in the face of intense competition. Our custom and syndicated market research reports provide actionable insights that drive sustainable growth. FMI’s team of expert-led analysts continuously tracks emerging trends and events across industries to ensure our clients are prepared for the changing needs of consumers.
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