Water Electrolysis Market Is Expected To Reach USD 11,426.8 Million By 2023
Aug 31, 2017
Global Water Electrolysis Market Information Report by Technology (Alkaline Water Electrolysis and Proton Exchange Membrane), by End-User (Chemical Industry, Petroleum Industry, Pharmaceuticals Industry, Power Plants, Electronics & Semiconductor Industry, and Others), and by Region - Forecast to 2023
Pune, India - August 31, 2017 /MarketersMedia/ —
Market Highlights:
Electrolysis is the simplest method used for producing hydrogen in industries, such as chemicals, petroleum, glass, refineries, automotive, pharmaceutical, metals & mining, and others. Increase in use of water electrolysis in end-use industries and growing demand of carbon free source of energy, are pushing the market towards growth. Furthermore, increase in cost of water electrolyzer acts as a major restraint for the growth of market. The growing demand of hydrogen in countries such as China and India, is expected to drive the growth of water electrolysis market. Geographically, Asia-Pacific accounts for the largest share of 34.20% in the global water electrolysis market in 2016.
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Market Research Analysis:
Asia-Pacific is expected to dominate the water electrolysis market due to the increasing demand in countries such as India and China. China accounted for the largest market share of 47.02% in 2016 and is projected to grow at 7.84% during the forecast period. North America is expected to hold majority of the share of this market. Some of the major factors contributing to the growth of hydrogen market in North America include availability of cheap gas and improving demand from the end- markets growth in the chemical industry, which will accelerate the growth of the water electrolysis market.
Key Players:
The key players in global water electrolysis market are ThyssenKrupp Ag (Germany), Linde AG (Germany), Air Products and Chemicals, Inc. (U.S.), Siemens AG (Germany), ProtonOnsite (U.S.), Teledyne Energy System Inc. (U.S.), Areva H2Gen (France), Hydrogenics Corporation (Canada), Erre Due s.p.a (Italy) and Peak Scientific (Scotland).
Scope of the Report:
This study provides an overview of the global water electrolysis market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global water electrolysis market by technology, by end-user and by region.
By Technology
• Proton Exchange Membrane (PEM)
• Alkaline Water Electrolysis
• Solid Oxide Electrolyte (SOE)
By End-User
• Chemical Industry
• Petroleum Industry
• Pharmaceuticals Industry
• Power Plants
• Electronics & Semiconductors Industry
• Others
By Region
• North America
• Europe
• Asia Pacific
• Rest of the World
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Contact Info:
Name: Akash Anand
Organization: Market Research Future
Address: Hadapsar, Pune
Phone: +1 646 845 9312
Source URL: https://marketersmedia.com/water-electrolysis-market-is-expected-to-reach-usd-11426-8-million-by-2023/232699
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Source: MarketersMedia
Release ID: 232699
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