The artificial photosynthesis market size will grow to USD 185 Million by 2030 from USD 62 Million in 2022, at a CAGR of 14.6% during the forecast period. The global artificial photosynthesis market is driven by the government fundings and grants for the research and development of artificial photosynthesis technology; global plans for net zero emissions. Growing demand of green H2 and eco-friendly liquid fuels are expected to offer lucrative opportunities for the artificial photosynthesis market during the forecast period.
Collaboration and partnerships are among the key growth strategies adopted by leading companies, including Panasonic Corporation (Japan), FUJITSU (Japan), and ENGIE (France) to boost their position in the artificial photosynthesis market. Companies operating in this market also focus on investments to increase their market shares and expand their geographic presence. collaborations, and partnerships were the most commonly adopted strategy from January 2012 to February 2022.
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Panasonic Corporation is a global leader in the development of diverse electronics technologies and solutions. It is the largest electronic manufacturer in the world with 634 companies under it. Panasonic offers a wide range of products and services, including rechargeable batteries, automotive and avionics systems, industrial systems, as well as home renovation and construction. Panasonic corporation operates under five business segments, namely, Appliances, Life Solutions, Connected Solutions, Automotive, and Industrial Solution. Panasonic Corporation developed a nitrite semiconductor (photoelectrode) for artificial photosynthesis systems. Nitride semiconductor increases the efficiency of artificial photosynthesis systems and makes them simple to use. Panasonic Corporation operates globally with major revenues being generated from regions namely, Japan, the Americas, Europe, Asia, and China. It has its research & development facilities located in regions namely, Europe, Greater China, ASEAN, India, North America, and Japan.
ENGIE is a global leader that operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy, and petroleum. ENGIE operates on a matrix structure with primary axis as business units and secondary axis as business lines. Business lines include six core activities, namely Client Solutions, Networks, Renewables, Thermal, Supply, and Nuclear. Business units include seven regions, namely France excluding infrastructure, France Infrastructures, the Rest of Europe, Latin America, the USA & Canada, the Middle East, Asia & Africa, and Others. Laborelec and Crigen are the research centers under ENGIE, which were associated with the research and development of artificial photosynthesis technology. Laborelec and Crigen partnered with 8 other institutes in CONDOR project. CONDOR project is ambitioned to be the next generation of non-fossil fuel production technology.ENGIE is a global player in low-carbon energy and services. ENGIE is a key player in energy transition in Europe while having major operational regions as North America, France, Latin America, the Rest of Europe, the Middle East, Asia & Africa, and Others. Crigen is the major research and development facility of ENGIE located in France.
Artificial Photosynthesis Market by Application (Hydrocarbon, Hydrogen, Chemicals), Technology (Co-Electrolysis, Photo-Electro Catalysis, Nanotechnology, Hybrid Process), Region (North America, APAC, Europe, Rest of World) - Global Forecast to 2030
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