Water Electrolysis Market to Grow at a Robust Pace During 2023-2028

Water Electrolysis Market report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The growth of the market will be fueled by the favourable regulatory policies toward building out hydrogen infrastructure and expanding its use as an industrial feedstock. The continued advancement of technology and the decline in carbon emissions from manufactured goods will be favourable to the future for business. The market structure for water electrolysis in the world today takes into account current developments as well as the use of new technology by the major industry participants. The market grew as a result of a number of causes, including rising global carbon emissions, rising low carbon hydrogen and ammonia production, increasing margarine consumption, rising capacity for menthol manufacture, and growing semiconductor demand. As a result of these factors, the water electrolysis market is expected to grow at a promising CAGR of 6.9% during the forecast period.

Segment Analysis

Based on the product type, the water electrolysis market is segmented into proton exchange membrane, alkaline water electrolysis, and solid oxide electrolyte. Alkaline water electrolysis is expected to remain the largest and fastest-growing product type in the market during the forecast period. The most advanced water electrolysis method is well recognised as alkaline water electrolysis.

The majority of the installed water electrolysis capacity worldwide comes from alkaline electrolyzers. The vast majority of alkaline electrolyzers are appropriate for producing hydrogen on a large scale. Alkaline water electrolysis research is currently focused on increasing efficiency through the use of high temperature and high-pressure operations. 

Based on the end-user type, the market is segmented into chemicals, electronics & semiconductor, power plants, petroleum, pharmaceuticals, and others. Chemical is expected to remain the dominant as well as the fastest-growing end-user type in the market during the forecast period.

In order to produce ammonia, which has a rising demand for hydrogen in the chemical sector, fertilisers and methanol are utilised in the production of polymers. Other essential chemicals made from hydrogen include aniline, cyclohexane, hydrochloric acids, and a variety of bases.

In terms of regions, North America is expected to witness significant growth in the water electrolysis market during the forecast period. In the development of hydrogen through water electrolysis, the US is a world leader. In North America, hydrogen and fuel cells provide energy security and a healthier environment for people.

To guarantee the safety and environmental friendliness of hydrogen and fuel cell products, the US has maintained and developed particular rules and standards. For the usage of hydrogens, numerous innovations have been put into place, including hydrogen-powered buses and forklifts at retail establishments. 

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Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Water Electrolysis Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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