According to the recent study the water electrolysis market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 32% to 34% from 2023 to 2028. Growth in this market is primarily driven by growing demand for hydrogen fuel cell vehicles, rising demand of carbon-free source of energy, and increasing usage of water electrolysis in end use industries.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in water electrolysis market by product (proton exchange membrane, alkaline water electrolysis, solid oxide electrolyzer cell, anion exchange membrane, and others), input power (below 2 kw, 2 kw to 5 kw, and above 5 kw), hydrogen production (below 500, 500 to 2000, and above 2000), end use industry (chemical, petroleum, pharmaceutical, power plant, electronics & semiconductor, steel plant, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
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“Alkaline water electrolysis market is expected to remain the largest segment during the forecast period.”
Based on product, the water electrolysis market is segmented into proton exchange membrane, alkaline water electrolysis, solid oxide electrolyzer cell, anion exchange membrane, and others. Lucintel forecasts that the alkaline water electrolysis market is expected to remain the largest segment due to its benefits such as, higher rate of hydrogen production, more compact design, and superior energy efficiency.
“North America will dominate the water electrolysis market in near future”
North America will remain the largest region due to the rising usage of hydrogen as an alternative renewable fuel, increasing preference for zero emission vehicles, and high efficiency of fuel cells. This also led towards construction of infrastructure to support hydrogen as an alternative renewable fuel source in this region.
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Major players of water electrolysis market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Air Products and Chemicals, AREVA H2Gen, Asahi Kasei Corporation, C&E Environmental Technology, Enagic International, Eneco Holdings, and ErreDue spa are among the major water electrolysis providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/water-electrolysis-market.aspx or [email protected]