Water Electrolysis Market by Type (Alkaline Electrolyzer, Proton Exchange Membrane, Solid Oxide Electrolyzer, Anion Exchange Membrane) by Application (Energy Storage, Transportation, Industrial Gases, Power Plants, Electronics & Semiconductors, Others) by Region (North America, Asia Pacific, Europe, South America, Middle East and Africa) - Trends and Forecasts to 2030
Water electrolysis is defined to be the procees, wherein water is split into oxygen and hydrogen by passing an electric current through it. The splitting occurs in two partial reactions that take place at the two electrodes in the electrolysis cell. In practice, electrolysers consist of several interconnected electrolysis cells, also called stacks. When voltage is applied, hydrogen is produced at the cathode and oxygen at the anode.
Water electrolysis, based on type, is bifurcated into Alkaline Electrolyzer, Proton Exchange Membrane (PEM), Solid Oxide Electrolyte (SOEC) and Anion Exchange Membrane (AEM). In the alkaline electrolyzer, on the application of sufficient voltage, water molecules take electrons to make OH⁻ ions and an H2 molecule. On the other hand, PEM electrolysis creates a reaction using an ionically conductive solid polymer, rather than a liquid. Similarly, a SOEC uses a solid oxide or ceramic electrolyte to produce hydrogen gas and oxygen. The AEM electrolysis combines the benefits of the alkaline process and the PEM electrolysis, making it ideal for large-scale hydrogen production from renewable energy resources.
Water electrolysis is classified based on application into energy storage, transportation, industrial gases, power plants, electronics & semiconductors, and others. Energy storage include the storage of hydrogen/oxygen obtained as a result of electrolysis using the excess renewable energy. Water electrolysis is the most flexible and tenable solution to store renewable energy on a large, long-term scale. Transportation application of water electrolysis includes HCNG and fueling of FCEVs. The power plants, electronics & semiconductors applications refer to the utilization of produced hydrogen/oxygen through electrolysis for the respective activities in the sector.
The global water electrolysis market can be segmented into North America, South America, Europe, Asia Pacific, Middle East and Africa. Hydrogen generation and associated technologies/solutions have recently been gaining exceptional traction, especially in the European and Asia Pacific markets. This trend can be attributed to the sustainability concerns in the respective regions, presence of established key market players and the corresponding initiatives by the government to achieve net zero emissions. The growth in the hydrogen generation market will consequently drive the market for water electrolysis across the globe.
The major players in the water electrolysis market are Thyssenkrupp AG (Germany), Asahi Kasei Corporation (Japan), KOBELCO ECO-SOLUTIONS Co.,Ltd. (Japan), YangZhou Chungdean Hydrogen Equipment Co. Ltd. (China), Cockerill Jingli Hydrogen (China), Cummins Inc,. (US), Nel ASA (Norway), Toshiba Energy Systems & Solutions Corporation (Japan) and ITM Power PLC (UK), among others.
Key Questions Addressed by the Report
Frequently Asked Questions (FAQs)
- What is the current size of the water electrolysis market?
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TABLE OF CONTENTS
1. INTRODUCTION
1.1. OBJECTIVE OF THE STUDY
1.2. MARKET DEFINITION
1.2.1. MARKET SCOPE
1.2.2. YEARS CONSIDERED IN THE REPORT
1.3. CURRENCY
1.4. STAKEHOLDERS
2. RESEARCH METHODOLOGY
2.1. RESEARCH DATA
2.1.1. SECONDARY DATA
2.1.1.1. KEY DATA FROM SECONDARY SOURCES
2.1.2. PRIMARY DATA
2.1.2.1. KEY DATA FROM PRIMARY SOURCES
2.1.2.2. KEY INDUSTRY INSIGHTS
2.1.2.3. BREAKDOWN OF PRIMARY INTERVIEWS
2.2. MARKET SIZE ESTIMATION
2.2.1. BOTTOM-UP APPROACH
2.2.2. TOP-DOWN APPROACH
2.3. DATA TRIANGULATION
2.3.1. WATER ELECTROLYSIS MARKET ANALYSIS THROUGH PRIMARY INTERVIEWS
2.4. LIMITATIONS
2.5. ASSUMPTIONS
3. EXECUTIVE SUMMARY
4. PREMIUM INSIGHTS
5. MARKET OVERVIEW
5.1. INTRODUCTION
5.1.1. MARKET DYNAMICS
5.1.2. DRIVERS
5.1.3. RESTRAINTS
5.1.4. OPPORTUNITIES
5.1.5. CHALLENGES
5.2. IMPACT OF COVID-19
5.3. TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES TECHNOLOGY ANALYSIS
5.4. WATER ELECTROLYSIS MARKET: SUPPLY CHAIN ANALYSIS
5.5. MARKET MAP/ECOSYSTEM
5.6. TECHNOLOGY ANALYSIS
5.7. PATENT ANALYSIS
5.8. INDICATIVE PRICING ANALYSIS
5.9. KEY CONFERENCES & EVENTS IN 2022–2023
5.10. WATER ELECTROLYSIS MARKET: REGULATIONS
5.10.1. REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS
5.11. PORTER’S FIVE FORCES ANALYSIS
5.12. KEY STAKEHOLDERS & BUYING CRITERIA
5.12.1. KEY STAKEHOLDERS IN THE BUYING PROCESS
5.12.2. BUYING CRITERIA
5.13. CASE STUDY ANALYSIS
6. WATER ELECTROLYSIS MARKET, BY TYPE
(USD Million - 2020, 2021, 2022-e, 2030-f)
6.1. INTRODUCTION
6.2. ALKALAINE ELECTROLYZER
6.3. PROTON EXCHANGE MEMBRANE (PEM)
6.4. SOLID OXIDE ELECTROLYTE (SOEC)
6.5. ANION EXCHANGE MEMBRANE (AEM)
7. WATER ELECTROLYSIS MARKET, BY APPLICATION
(USD Million - 2020, 2021, 2022-e, 2030-f)
7.1. INTRODUCTION
7.2. ENERGY STORAGE
7.3. TRASPORTATION
7.3.1. FUELING FOR FCEV'S
7.3.2. HCNG
7.4. INDUSTRIAL GASES
7.5. POWER PLANTS
7.6. ELECTRONICS & SEMICONDUCTOR
7.7. OTHERS
8. WATER ELECTROLYSIS MARKET, BY REGION
(USD Million - 2020, 2021, 2022-e, 2030-f)
8.1. INTRODUCTION
8.2. ASIA PACIFIC
8.2.1. BY TYPE
8.2.2. BY APPLICATION
8.2.3. BY COUNTRY
8.2.3.1. CHINA
8.2.3.1.1. BY TYPE
8.2.3.1.2. BY APPLICATION
8.2.3.2. INDIA
8.2.3.3. AUSTRALIA
8.2.3.4. REST OF ASIA PACIFIC
8.3. NORTH AMERICA
8.3.1. BY TYPE
8.3.2. BY APPLICATION
8.3.3. BY COUNTRY
8.3.3.1. US
8.3.3.1.1. BY TYPE
8.3.3.1.2. BY APPLICATION
8.3.3.2. CANADA
8.3.3.3. MEXICO
8.4. EUROPE
8.4.1. BY TYPE
8.4.2. BY APPLICATION
8.4.3. BY COUNTRY
8.4.3.1. UK
8.4.3.1.1. BY TYPE
8.4.3.1.2. BY APPLICATION
8.4.3.2. NORWAY
8.4.3.3. RUSSIA
8.4.3.4. REST OF EUROPE
8.5. SOUTH AMERICA
8.5.1. BY TYPE
8.5.2. BY APPLICATION
8.5.3. BY COUNTRY
8.5.3.1. BRAZIL
8.5.3.1.1. BY TYPE
8.5.3.1.2. BY APPLICATION
8.5.3.2. ARGENTINA
8.5.3.3. REST OF SOUTH AMERICA
8.6. MIDDLE EAST
8.6.1. BY TYPE
8.6.2. BY APPLICATION
8.6.3. BY COUNTRY
8.6.3.1. SAUDI ARABIA
8.6.3.1.1. BY TYPE
8.6.3.1.2. BY APPLICATION
8.6.3.2. UAE
8.6.3.3. OMAN
8.6.3.4. KUWAIT
8.6.3.5. REST OF MIDDLE EAST
8.7. AFRICA
8.7.1. BY TYPE
8.7.2. BY APPLICATION
8.7.3. BY COUNTRY
8.7.3.1. SOUTH AFRICA
8.7.3.1.1. BY TYPE
8.7.3.1.2. BY APPLICATION
8.7.3.2. EGYPT
8.7.3.3. ALGERIA
8.7.3.4. NIGERIA
8.7.3.5. REST OF AFRICA
9. COMPETITIVE LANDSCAPE
9.1. OVERVIEW
9.2. MARKET EVALUATION FRAMEWORK
9.3. SHARE ANALYSIS OF KEY PLAYERS, 2021
9.4. SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS, 2016-2021
9.5. RECENT DEVELOPMENTS
9.6. COMPETITIVE LEADERSHIP MAPPING
10. COMPANY PROFILE
10.1. THYSSENKRUPP AG
10.1.1. Business Overview
10.1.2. Services offered
10.1.3. Recent Developments
10.1.4. MnM View
10.2. ASAHI KASEI CORPORATION
10.3. KOBELCO ECO-SOLUTIONS CO.,LTD.
10.4. YANGZHOU CHUNGDEAN HYDROGEN EQUIPMENT CO LTD
10.5. SUZHOU JINGLI
10.6. IDROENERGY
10.7. GREEN HYDROGEN SYSTEMS
10.8. CUMMINS
10.9. NEL ASA
10.10. TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION
10.11. TELEDYNE ENERGY SYSTEMS INC.
10.12. ITM POWER PLC
10.13. CLEAN POWER HYDROGEN GROUP LIMITED
10.14. PLUG POWER INC.
10.15. HITACHI ZOSEN CORPORATION
11. Appendix
11.1. INSIGHTS OF INDUSTRY EXPERTS
11.2. DISCUSSION GUIDE
11.3. RELATED REPORT
11.4. AUTHOR DETAILS
* Additional Segments, Countries and Companies may be added during the course of the study
*Company revenues will be provided for three years (including the base year). The base year used for company profiles will be 2021. Wherever information is unavailable for the base year, the previous year data will be considered.
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
Growth opportunities and latent adjacency in Water Electrolysis Market