BIS Research Study Projects the Global Water Electrolysis Market to Reach $7.17 Billion by 2031
FREMONT, Calif., July 26, 2022 /PRNewswire/ -- The premium market intelligence study by BIS Research titled Water Electrolysis Market – A Global and Regional Analysis projects the market to reach $7.17 billion in terms of revenue by 2031, at a CAGR of 35.4%.
Water electrolysis is the process of converting electrical energy into chemical energy in the form of hydrogen and oxygen, and an electrolyzer is a system that breaks water into hydrogen and oxygen with the help of electricity.
With a growing emphasis on sustainable and low-carbon technology, water electrolysis has gained traction in the last few years. Companies are becoming increasingly interested in water electrolysis as it results in zero carbon emission, and the residual water is used as feedstock, which is cheap and available in abundance.
International Energy Agency (IEA) has projected that the energy demand will grow between 25% to 30% by 2040, with companies and governments trying to find sustainable and low-carbon emission energy sources.
This report on the global water electrolysis market segments the market based on electrolyzer type and end-use industry/application along with the region. Catalysts and membranes used in electrolyzers are excluded from the report as it is not part of the study.
The detailed study is a compilation of 80 market data tables and 32 figures spread through 261 pages and an in-depth TOC on "Global Water Electrolysis Market – Analysis and Forecast, 2022-2031" .
Demand - Drivers and Limitations
Following are the demand drivers for the water electrolysis market:
- Increasing use of hydrogen in the petroleum refining industry
- Rising demand for green fertilizers
- Increasing government activities toward low-carbon infrastructure
- Decreasing cost of renewable energy and water electrolysis technology
The market is expected to face some limitations as well due to the following challenges:
- Expensive hydrogen technology
- High energy losses during the electrolysis process
Reasons to Buy this Report
This exclusive report on the water electrolysis market will help in the following ways:
- Critical analysis of four types of water electrolyzer systems
- Evaluation of key start-ups in the water electrolysis market
- Snapshot of the global green hydrogen market
- Snapshot of the global green ammonia market
- Patent analysis for the patents filed related to the water electrolysis since January 1, 2019
Analyst's Take on the Market:
According to Sanyam Tetarwal, Lead Analyst, BIS Research, "The water electrolysis market is expected to register continuous growth during the forecast period owing to the growing demand for sustainable energy sources, rising green hydrogen and green ammonia demand, and investment from the government toward green and sustainable technologies. Moreover, growing investment in renewable energy sources and demand for energy storage technologies is also expected to contribute toward the growth of the water electrolysis market during the forecast period."
View the report on Global Water Electrolysis Market
Key Companies Operating in the Market and Competitive Landscape
The companies profiled in the study have been selected based on inputs gathered from primary experts and analysis of the companies' product portfolios, key developments, and market penetration.
Some prominent names established in this market are:
Company Type 1: Electrolyzer Suppliers
- Nel ASA
- Cummins Inc.
- Plug Power Inc.
- ITM Power PLC
- ThyssenKrupp
- Asahi Kasei
- Others
Companies that are not a part of the above-mentioned pool have been well represented across different sections of the report (wherever applicable).
Who Should Buy This Report?
The companies that are offering water electrolyzers, water electrolyzer parts such as catalysts, membranes, power supply equipment can buy the report. Also, end-users from industries such as ammonia production, and fuel cell, can also buy the report.
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Key Questions Answered in the Report:
- What are the major factors and trends impacting the water electrolysis market?
- How has COVID-19 impacted the water electrolysis market across the globe?
- What are the steps taken by the existing players to improve their market positioning and the strategy adopted by new players entering in market space?
- Which are the leading electrolyzer type and end-use applications in the market, and how are they going to perform during the forecast period?
- What are the latest developments in various countries across the globe for the development of the water electrolysis market?
- What are the installation patterns for water electrolyzers?
- What are the major challenges around the adoption of water electrolysis across different regions and countries?
- Are there any government regulations (regional/global) impacting the water electrolysis market?
- For a new company looking to enter the water electrolysis market, which areas could it focus upon to stay ahead of the competition?
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.
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