Water Electrolysis Machine Market: Introduction
Transparency Market Research delivers key insights on the
global water
electrolysis machine market. In terms of revenue, the global water
electrolysis machine market is estimated to expand at a CAGR of ~7% during
the forecast period, owing to numerous factors regarding which TMR offers
thorough insights and forecasts in the global water electrolysis machine market
report.
In this market report, TMR predicts that 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.
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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.
Water Electrolysis Machine Market: Prominent Regions
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.
Water Electrolysis Machine Market: Key Players
The competition landscape of the water electrolysis machine
market is highly fragmented with leading players accounting for nearly 25% of
the revenue share. 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.
Global Water Electrolysis Machine Market: Segmentation
Water Electrolysis Machine Market, by Type
- Proton
Exchange Membrane (PEM)
- Alkaline
Water Electrolysis
- Others
Water Electrolysis Machine Market, by Input Power
- Below
2 kW
- 2 kW
- 5 kW
- Above
5 kW
Water Electrolysis Machine Market, by Hydrogen Production
- Below
500
- 500
- 2000
- Above
2000
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Water Electrolysis Machine Market, by Application
- Chemical
- Petroleum
- Pharmaceuticals
- Power
Plants
- Electronics
& Semiconductors
- Steel
Plants
- Others
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