Market Research Future (MRFR) has published a cooked research report on the “water electrolysis Market” that contains information from 2022 to 2030. The water electrolysis Market is estimated to register a CAGR of 60% during the forecast period of 2022 to 2030 and projected to grow at USD 9,318.4 million by 2030.

MRFR recognizes the following companies as the key players in the Market- ThyssenKrupp AG, Linde AG, Air Products and Chemical Inc., Siemens AG, ProtonOnsite, Teledyne Energy Inc., AREVA H2Gen, Hydrogenics Corporation, Erre Due SpA, Peak Scientific.

Market Overview:

Water Electrolysis Market is projected to esteem at USD 5,846.5 million in 2021 to USD 9,318.4 million by 2030 at an expected CAGR of 60% during the conjecture period. (2022-2030).

The market is driven by different factors, for example, an expansion in the utilization of water electrolysis in end-use businesses, developing interest of without carbon wellspring of energy, the exceptionally compelling approach to incorporating renewables through the capacity to the gas office. In any case, water electrolysis has different requirements that block the development of the worldwide water electrolysis market. Additionally, such a substitute for water electrolysis and increment the expense of water electrolyser are additionally expected to dial back the market development, all around the world, during the figure time frame.

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Market Segmentation:

Product Category Outlook

·       Proton Exchange Membrane

·       Alkaline Water Electrolysis

·       Solid Oxide Electrolyte (SOE)

End Users Outlook

·       Chemicals

·       Electronics & Semiconductor

·       Power Plants

·       Petroleum

·       Pharmaceuticals

·       Others

Regional Outlook

·       North America

·       Europe

·       Asia-Pacific

·       Rest of the World

Regional Analysis:

North America is supposed to observe huge development in the worldwide water electrolysis market. North America for the most part comprises of the US and Canada. The US is one of the worldwide innovators in the advancement of hydrogen through water electrolysis. Hydrogen and power devices in North America offer energy security and a cleaner climate for individuals. The US has kept up with and created explicit codes and norms to guarantee that hydrogen and energy units items are protected and climate well disposed. There is different development carried out for the utilization of hydrogens, for example, hydrogen-fueled transport and hydrogen-controlled forklifts in retail locations. The expanded utilization of hydrogen in the US is supposed to drive the water electrolysis market in North America during the gauge time frame.

The remainder of the world incorporate the Middle East and Africa and Latin America. In the Middle East and Africa, the auto business is supposed to observe consistent development during the estimate time frame because of the consistent pace of creation of vehicles. This consistent pace of creation will bring about the expanded utilization of water electrolysis in vehicles. The expanded utilization of water electrolysis will drive the market during the conjecture time frame.

Key Players

List of the Major Water Electrolysis Manufacturers in the Market include

·       ThyssenKrupp AG

·       Linde AG

·       Air Products and Chemical Inc.

·       Siemens AG

·       ProtonOnsite

·       Teledyne Energy Inc.

·       AREVA H2Gen

·       Hydrogenics Corporation

·       Erre Due SpA

·       Peak Scientific, among others

Recent Developments:

November 2020 – Cummins Inc. decided to open a new facility in Germany to make hydrogen fuel cell systems. Expected to be finished by July 2021, the facility will have a capacity of 10 megawatts per year. It will produce one megawatt of fuel cell systems each month for Alstom’s Coradia iLint hydrogen-powered trains, along with aftermarket support.

April 2021 – CF Industries has signed an engineering and procurement contract with ThyssenKrupp AG to supply a 20-megawatt alkaline water electrolysis plant to produce green hydrogen at Donaldsonville, U.S. Construction is expected to begin in the second half of 2021 and finish in 2023.

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